A lawsuit has been filed against cryptocurrency platform OKCoin by a Chinese cryptocurrency investor who alleges that he has not received Bitcoin Cash [BCH] that was meant to be airdropped after the soft fork that occurred in August of 2017. This marks the first lawsuit related to a fork of Bitcoin in the court of Beijing.
The investor stated that the Bitcoin Cash that was entitled to him, which approximately comes up to 38.748 tokens, which were not deposited in his account. OKCoin said that this was because he did not claim the coins in time. This resulted in the investor sueing the exchange to the tune of $25,000 or 169,969 Yuan.
The plaintiff, registered under the pseudonym of Feng Bin, reported that he ought to have the 38 Bitcoin Cash as he had bought Bitcoin earlier that year in January. However, when he wanted to cash out in December, Feng found that he could not claim the Bitcoin Cash he was entitled to, because OKCoin’s window for claiming the forked coins had expired. They stated to Peng [trans.]:
“The claim ‘button’ was a program that automatically executed BCH input to the user’s account. You cannot claim BCH anymore as the program has been removed from our platform. If you didn’t withdraw it at that time, it will be impossible to make later withdrawal.”
The value of the contained Bitcoin Cash came up to roughly $40,000 at the time Feng wished to claim it. Feng stated [trans.]:
“I have been paying attention to the announcement of the OKcoin currency release. In all the announcements, there is no declaration of the deadline for receipt and the removal of the program.”
OKCoin stated that they found it suspicious that he was holding the funds from January without any activity, and the plaintiff has only shown records of holding Bitcoin at that time. Considering the price fluctuations in the coin in 2017, they found it “abnormal”.
Previously, the Beijing Court rejected a lawsuit against trading platform Huobi for futures trading. This case was worth more, around 52 Bitcoin, but was ultimately not processed in the court, partly due to China’s attitudes concerning cryptocurrencies.
The post Bitcoin Cash [BCH] entitled after Bitcoin [BTC] fork on OKCoin, investor files lawsuit appeared first on AMBCrypto.
Source: AMBcrypto
Original Post: Bitcoin Cash [BCH] entitled after Bitcoin [BTC] fork on OKCoin, investor files lawsuit
