Shin

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 MARK SHIN, Case No. 20-cv-07363-WHO

Plaintiff,

ORDER DENYING MOTION TO

v. DISMISS COUNTERCLAIM

ICON FOUNDATION, Re: Dkt. No. 77 Defendant.

12 Plaintiff Mark Shin moves to dismiss a class action counterclaim filed by defendant ICON Foundation (“ICON”), arguing that ICON’s claims of money had and received, unjust enrichment, and restitution, and declaratory relief, are insufficiently pleaded or barred as a matter of law. The motion to dismiss is GRANTED in part and DENIED in part, with leave to amend. ICON has failed to sufficiently plead ownership of the cryptocurrency tokens at issue, as required for its money had and received claim. But the unique circumstances here support unjust enrichment as an appropriate cause of action—as pleaded, Shin knowingly took advantage of a software defect to arrogate to himself over 13 million ICX tokens, to the detriment of others in the ICON Community. ICON’s claim for…