Mining Firm Sues Roger Ver, Bitmain and More for ‘Hijacking’ Bitcoin Cash
The new suit alleges supporters of Bitcoin Cash ABC, one of two competing repetitions of bitcoin cash decryption separated from hard fork last month, illegally manipulate the market and damage investors.
Florida-based United Investments filed a lawsuit in the Southern District of Florida complaining that Roger Ver, bitcoin.com, Bitmain and co-founder Jihan Wu had exchanged Crake with Kraken, and Jesse Powell and Bitcoin ABC developers Amaury Sechet, Shammah Chancellor and Jason Cox centralized bitcoin cash and manipulated prices in a controversial hard fork.
Bitcoin.com and Bitmain (and their respective founders) claim to have "kidnapped [bitcoin cash] block chains by devoting their mining capabilities to mining, which is called the Bitcoin ABC chain, in a theory that assigns Bitcoin block chains to mining".
According to a separate statement sent to CoinDesk, UnitedCorp said the defendants committed a "fraud plan" in a conspiracy to control the network.
United Corp. said it "relied heavily on the defendant's misrepresentation by investing millions of dollars in developing and deploying infrastructure for the mining of bitcoin cash, resulting in damage."
The lawsuit also claims that "Bitmain, Bitcoin.com, and Ver were considered unfair by the actions described above."
The company alleged damages similar to the role that Bitcoin ABC developers used to set up checkpoints in their network, claiming that "they breached the basic principles of networking that others have respected over the years and have artificially activated the chain. Implemented as a computer hash to dominate the upgrade. "
This checkpoint also centralized the market.
In an email, Sechet told CoinDesk that Bitcoin ABC did not centralize the network, adding that "in practice, the consequences of actions taken by various actors in the ecosystem will result in centralization."
Finally, the suit alleges that Jesse Powell and Kraken set the Bitcoin ABC chain in bit coin cash and affixed a price tag to the "BCH" ticker.
"As a result of the aforementioned market manipulation, the value of the cryptocurrency borrowed by the plaintiff from BlockchainDomes has fallen significantly, the combined value of forked currencies is lower than the pre-fork currency, and the resulting confusion has had a serious harm to the market as a whole "
Powell's spokesman said, "Why are we going to change the price for bitcoin cash?"
The defendants conspired to control the beat coin cash. Therefore, UnitedCorp is seeking compensation and damages together with attorneys' fees.
Further, the suit adds:
The plaintiff requires an injunction. (a) re-merging software implementations that prevent Amaury Sechet, Shammah Chancellor, and Jason Cox from implementing Bitcoin Cash network checkpoints via Bitcoin ABC and not be chain of results; (b) return the block chain to a previously distributed form in accordance with the previously agreed rules. "
Roger Ver, bitcoin.com, Bitmain, Jihan Wu and Shammah Chancellor did not respond to a press conference call. Jason Cox did not get any comment.
This lawsuit requires compensation.
Read the full grievance here.
Complaints about Scribd 2018-12-06 
Roger Ver through the CoinDesk archive
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