A New York judge has dismissed the motion for dismissal filed by the defendants in the alleged $440 million Ponzi scheme involving TradeAI/Stakx.

According to Foresight News , law firm Burwick Law tweeted that Judge Lewis A. Kaplan of the Southern District of New York dismissed the motion for dismissal filed by defendants Cyrus Abrahim et al. in the "TradeAI/Stakx alleged $440 million Ponzi scheme" case. The court rejected all objections from the defendants regarding personal jurisdiction, venue, and service of process, and ordered the defendants to provide the plaintiffs' attorneys with a written disclosure of their full address of habitual residence by March 31, 2026, or face default judgment or other sanctions. The plaintiffs allege that the defendants lured investors into a so-called high-yield investment pool by selling worthless NFTs and cryptocurrencies, resulting in losses exceeding $20 million for the plaintiffs' clients.