UAB Qbit Financial Service Lawsuit Dismissed, No Wrongdoing Found

UAB Qbit Financial Service Lawsuit Dismissed

UAB Qbit Financial Service, a financial services provider based in Lithuania, recently clarified the status of a lawsuit that had drawn media attention. Speculation linking the company to a “pig butchering” cryptocurrency scam has now been proven unfounded following a recent ruling by the U.S. District Court for the Northern District of California. This court officially dismissed the lawsuit on June 13, 2025, concluding that UAB Qbit had engaged in no misconduct.

In a formal statement, UAB Qbit Financial Service addressed various media allegations and reaffirmed the outcome of the legal proceedings. Previously, claims suggested that the company was involved in fraudulent activities associated with cryptocurrency scams, which were highly publicized online. However, those claims did not reflect the final judgment made by the court.

The U.S. court determined that there was absolutely no wrongdoing by UAB Qbit Financial Service, leading to the case being closed permanently. The plaintiff, Michael Mashkevich, reached a Joint Stipulation of Dismissal with Prejudice with UAB Qbit, which means that the case cannot be reopened based on the same grounds according to U.S. law. This ruling reinforces UAB Qbit's commitment to operating within legal parameters and safeguarding its customers’ interests.

The lawsuit also brought attention to Bytechip, a separate entity under the same Cayman Islands parent company. Some attempts were made during the litigation to connect UAB Qbit with Bytechip. However, the court clarified that Bytechip operates independently and that its own prior legal case had concluded without any suggestion of wrongdoing in its financial dealings.

UAB Qbit Financial Service pointed out that any information circulated prior to the court's ruling, including the allegations of wrongdoing, are now outdated and misrepresent the current facts. The company plans to pursue legal action against sources disseminating false claims regarding its operations and the dismissed case.

As part of its core values, UAB Qbit Financial Service adheres to international standards for compliance and anti-money laundering (AML) practices. The company is committed to enhancing its risk management systems to ensure the protection of both client funds and its business integrity in an increasingly scrutinized market environment.

UAB Qbit’s stance emphasizes its dedication to lawful conduct and transparency in the financial services sector, especially following a period of speculation and misinformation. The dismissal of the lawsuit marks a significant milestone in reaffirming trust with its client base as the company continues to redefine its position in a competitive industry.

Furthermore, UAB Qbit Financial Service recognizes the importance of maintaining a reputable image and engaging with its clientele on matters of security and trust. In light of the recent experiences, they uphold their obligation to not only meet but exceed compliance expectations in financial services.

In conclusion, the closure of the lawsuit without findings of wrongdoing serves as a powerful statement of UAB Qbit Financial Service's ethical commitment in pursuing growth while ensuring complete regulatory adherence. The company looks forward to its continued operations, emphasizing client security, a robust framework for risk management, and accountability in all facets of its business.