The law firm Burwick Law has announced the start of a review concerning the DoubleZero token, known as 2Z. This review is aimed at investors who have incurred financial losses and is currently preliminary in nature — it does not involve any accusations. The firm is collecting information from those who have bought or sold 2Z, as well as examining public statements and blockchain transactions. The outcomes will depend on the specific circumstances of each case.
What is known about the DoubleZero (2Z) token?
DoubleZero is positioned as an infrastructure project within the DePIN segment; the startup focuses on reducing data transmission latency for blockchains. The 2Z token is described as a utility token — it is used within the ecosystem for network access and to incentivize participants. The cryptocurrency is issued on the Solana network following the SPL standard, and the token mint address is publicly available, allowing transaction tracking.
Reasons for the 2Z token loss review
Burwick Law initiated information gathering to understand which investors suffered losses and under what circumstances. The review includes data on purchases, sales, exchange operations, and other methods of acquiring the asset, as well as public statements from the project team. Representatives emphasize that this information gathering is preliminary: the review does not equate to accusations, and each case is considered individually.
SEC's position on the 2Z token
The SEC's Division of Corporate Finance published a no-action letter addressing "programmatic transfers" of the 2Z token. The regulator noted that its position is based solely on the data provided and does not constitute a legal ruling; other facts could lead to a different conclusion. This limitation is important to consider when evaluating the letter's significance for subsequent legal actions.
How will the review proceed?
Burwick Law is collecting and analyzing datasets to assist in the legal examination of incidents involving 2Z. The review considers public statements from the project, blockchain transactions at the mint address, and the impact of market factors on token trading. The firm states it approaches each case individually, so conclusions and next steps will depend on specific circumstances.
- Gathering information from investors about purchases, sales, and token exchanges.
- Analyzing public statements from the project and blockchain operations available.
- Assessing risk disclosures and market factors affecting trading outcomes.
Why is this important?
If you held or traded the 2Z token, this announced review may involve your transactions: Burwick Law is collecting information specifically from such investors. However, the review is currently preliminary and does not equal accusations, so its initiation does not necessarily imply direct legal consequences for most participants. For miners or owners of small device pools, it is important to understand whether your transactions are affected and whether you have an open trading ledger for 2Z.
What should you do?
Practical steps are useful for those who may have dealt with 2Z or keep records of operations. First, save your transaction history and purchase or exchange confirmations, as these may be needed for the review. If you bought or sold the token, you can contact Burwick Law or provide them with information if requested, keeping in mind that each case is reviewed individually.
- Save an export of transactions from your wallet address and exchange confirmations.
- Check public statements from the project in channels where you interacted with it.
- If in doubt, contact Burwick Law to clarify how to submit information — this is a standard part of data collection.
