Roger Ver, Bitcoin.com, Bitmain, and Kraken are all sued by UnitedCorp over an alleged complot to hijack the Bitcoin Cash network for their own personal gain.
United Corp. Sues Bitcoin.com, Bitmain, Kraken
If the Bitcoin Cash fork fall-out that made November one of crypto’s most volatile months on record wasn’t bad enough, the nightmare continues. Although, some might say, this time it’s justified–depending on which camp you belong to.
Telecommunications and IT development company UnitedCorp is suing the big guns over an alleged plot to control the Bitcoin Cash network.
Who is involved in the complot? Well, according to Florida-based United Corp, that would be Bitcoin.com, Roger Ver, Bitmain, and the Kraken Bitcoin Exchange. The suit was filed yesterday in the U.S. District Court for the Southern District of Florida and alleges that the defendants worked together to abuse the BCH network.
They apparently pooled their collective resources to practice market manipulation for their own benefit and for the detriment of BCH stakeholders–UnitedCorp in particular. According to the 27-page lawsuit:
This action involves a scheme by a tight-knit network of individuals and organizations to manipulate the cryptocurrency market for Bitcoin Cash, effectively hijacking the Bitcoin Cash network.
It goes on to add that it was a well-planned scheme that effectively caused the market to collapse and lose more than $4 billion, leading to many Bitcoin holders suffering irreparable harm.
The Controversial Bitcoin Cash Fork
The Bitcoin Cash network underwent a controversial update on November 15, which split the BCH community down the middle. The two camps became those in favor of Bitcoin Cash ABC and those who supported Bitcoin Cash SV. And the uncertainty over the future of both networks caused higher crypto volatility and a general market plunge,