Miami, FL. – In a lawsuit filed on Thursday December 6th in the United States District Court for the Southern District of Florida, United American Corp. a Florida Company, petitioned the court for emergency injunctive relief citing losses stemming directly from the Bitcoin Cash fork that began on November 15, 2018, and asserting that a team of conspirators involved in what many are calling the “Bitcoin Cash Civil War” worked with the knowledge and support of the Chinese government to stage a premeditated hostile takeover of this popular cryptocurrency platform.
The litigation, being handled by a team of attorneys led by Brian Miller, of the powerhouse Miami-based law firm Akerman, alleges there was “a scheme by a tight network of individuals and organizations designed to co-opt the cryptocurrency market for Bitcoin Cash, effectively hijacking the Bitcoin Cash network, centralizing the market and violating all accepted distributed and decentralized standards and protocols associated with Bitcoin since its inception.” It claims this scheme caused “a global capitalization meltdown of more than $4 billion and caused many American and Canadian coin holders to suffer financial damages.”
Since 2017 United American Corp. has moved heavily into the development and implementation of blockchain and blockchain technologies and invested in the deployment of over $4 million of infrastructure towards that end. Those investments can be greatly imperiled by changes in the Bitcoin Cash network brought about by the alleged scheme, changes that have altered the fundamental economics of the business.
The lawsuit moves against multiple defendants: Bitcoin.com, Roger Ver, Bitmain Inc. Bitmain Technologies LTD. Bitmain Technologies Holding Company, Jihan Wu, The Kraken LLC, Jesse Powell, Amaury Sechet, Shammah Chancelor and Jason Cox.