Company challenges Defendants to explain their actions under oath and will pursue discovery by way of deposition or under subpoena of the Defendants in the United States including Roger Ver, Amaury Sechet and Jihan Wu.
MIAMI, FL, March 20, 2019 – Miami‐based United American Corp (“UnitedCorp”) (OTC: UAMA) announced today that their legal counsel Akerman LLP has filed a Consolidated Opposition to
Defendant’s Motions to Dismiss Complaint in its suit against Bitmain Group, Bitcoin.com, Roger Ver, Jihan Wu, Kraken, Jesse Powell, Amaury Sechet, Shammah Chancellor and Jason Cox (the “Defendants”). The opposition was filed after the Defendants filed a motion to dismiss the UnitedCorp action on February 1st 2019.
The suit is the first antitrust action brought in the United States involving the cryptocurrency industry.
It alleges that the Defendants collectively engaged in unfair methods of competition, and through a series of deceptive and unfair practices, manipulated the Bitcoin Cash network for their benefit and to the detriment of UnitedCorp and other Bitcoin Cash stakeholders. Their alleged actions resulted in the network losing more than US $4 billion in value as a direct result of the alleged hijacking of the network, in addition to a forced network fork with the implementation of their specific new rules set in the Bitcoin ABC 0.18.5 version under the control of the Defendants. UnitedCorp alleges that these new rules set have irreparably harmed the Bitcoin Cash blockchain network and Bitmain, along with the co‐ Defendants, should be held liable.
UnitedCorp alleges that the Defendants colluded to effectively hijack the Bitcoin Cash network after the November 15, 2018 scheduled software update with the express intent of centralizing the network. This includes allegations that Roger Ver, along with Kraken and developers of Bitcoin ABC, colluded with Chinese‐based and Chinese government‐financed mining rig manufacturer Bitmain to unfairly redirect hashing power at the exact moment of the scheduled software update,