A new lawsuit is the latest chapter in the Bitcoin Cash fork saga…
An organisation by the name of United American Corp has issue a statement revealing that it’s launched legal action over “what is alleged to have been a well-planned scheme to take control of the Bitcoin Cash network for personal gain and which caused a global capitalization meltdown of the Bitcoin Cash network at the expense of others”.
It’s the latest turn in the civil war that’s erupted since the Bitcoin Cash fork that took place in mid-November, which proved the catalyst for crypto prices tumbling heavily across the board.
The lawsuit is seeking “damages and injunctive relief”, and it’s named Bitmain, Bitcoin.com, Roger Ver (the so-called ‘Bitcoin Jesus’), Bitcoin exchance Kraken and “other individuals”.
The suit alleges that they all engaged “in unfair methods of competition and through a series of unconscionable, deceptive and unfair practices, manipulated the Bitcoin Cash network for their benefit and to the detriment of UnitedCorp and other Bitcoin Cash stakeholders”.
Furthermore, it also alleges that on November 20th, after the Bitcoin Cash fork had taken place, that one side of the civil war – the Bitcoin Cash ABC team – “planted a ‘poison pill’ into the blockchain in the form of a ‘Deep Reorg Prevention’ as well as other functionality in order to cement the control of the blockchain ledger”.
United American Corp has been in business over 25 years, and it has interested in blockchain through its BlockchainDomes stations. At the time of writing, the assorted defendants hadn’t commented on the accusations, but we’d be amazed if they didn’t fight them.
The full text of the United American Corp statement can be found here.
At a point where the cryptocurrency market is urgently looking for some stability, this is, we’d suggest, unlikely to help.
The post Bitmain, Roger Ver and more now face lawsuit, allegations of hijacking the Bitcoin Cash network appeared first on CryptoNewsReview.
A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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