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On Thursday, a lawsuit was filed in the Southern District of Florida against a group of weighted cryptocurrencies of intentional fraud and market manipulation surrounding the recent Bitcoin Cash BCH update.
The lawsuit brought by United American Corp. against several companies linked to Bitmain, Bitcoin.com, Roger Ver, Jihan Wu, Kraken, Jesse Powell, Amaury Sechet, Shammah Chancellor and Jason Cox claims that the group was involved in a scheme to manipulate the cryptocurrency market for Bitcoin Cash, in an attempt to hijack the Bitcoin Cash network, causing a global capital meltdown of over $ 4 billion and causing irreparable damage to countless people.
Latest news: the lawsuit links Bitmain, Ver to the camp for "premeditated acquisition" of the Bitcoin Cash network
Some of the names are well known to the Bitcoin community, while others have been players in the background. Let's have a look at who is who in this historical cause of cryptocurrency.
Bitmain Inc. – More commonly known as Bitcoin US, Bitcoin Inc. is an American company wholly owned by Bitmain Technologies Holding Company. Since Bitmain Inc. is a US company, it will be difficult for the largest company to declare that the lawsuit does not belong to the US courts.
Bitmain Technologies LTD. – Founded by Micree Zhan and Jihan Wu in 2013, Bitmain became famous and dominated the bitcoin mining space with its cryptocurrency miners ASIC.
Bitmain Technologies Holding Company – The company presented an initial public offering on September 26th with the Hong Kong regulatory agency. That IPO was in doubt until late with disastrous financial losses and their reputation took a hit during the hash war that triggered this cause.
Saint Bitts LLC d / b / a Bitcoin.com – Bitcoin.com is one of the most controversial sites in the cryptocurrency sector. Bitcoin.com is probably responsible for the inclusion of more people in Bitcoin than any other site. They offer news, tools, and even online gambling games, but after the breakdown of the 2017 BTC-BCH and their propensity to launch the poorly planned and executed ICOs, they have become more fragmented over the past two years.
Read the Court's memoirs from the BCH Manipulation case
Roger Ver – Known as the Bitcoin Jesus due to its early vulgarity of investing and traveling the world spreading the gospel of Bitcoin. He fell from Grace in particular after the BTC-BCH 2017 fork. Ver would have discussed about anyone and everyone, claiming that BCH was the real Bitcoin and any chain that deviates from the Satoshi Whitepaper could not claim to be Bitcoin. His decision to support the ABC instance during the hash war and his inclination to put his promotional support behind ICO's pump and dump left many of his disciples to abandon the faith. Ver denounced his US citizenship in 2014 and was once denied US visas because US immigration was not sure if he would leave the country and remain as a clandestine immigrant. This case should offer sufficient US immigration grounds for a visitor's visa.
Jihan Wu – It is the public face of the Bitmain empire. A regular in the conference circuit and the recipient of the lion's share both of the praise and of the contempt of the cryptocurrency community. It was the power broker during the battle of 2017 for the larger blocks of BTC, its mining pools held enough power to determine if the Blockstream Segregated Witness and plan to leave the BTC in blocks of 1 MB or if the big battle lock continued. Wu has negotiated a split that created Bitcoin Cash BCH and brought with it the big supporters of the blockade. He also played an important role in the Hash War, funding the controversial ABC instance and then organizing the mercenary miners to move on the BCH chain. Like in Ver, the split left its reputation in tatters.
Payward Ventures Inc. d / b / a Kraken – Kraken is a cryptocurrency exchange site funded by Roger Ver and managed by his high school friend Jesse Powell. The site was one of the most popular exchanges operating in the United States, Canada, Japan and the EU. For a couple of years it was the biggest trade in the industry before giving way to companies like Coinbase and Binance. This cause is not the first time that Kraken has faced control, at the beginning of this year they were under investigation by the New York Attorney General's Office (NYAG) who was on a fact finding mission. to see if any trade in measures had taken to protect their customers from market manipulation.
Jesse Powell – Powell, in addition to being a high school friend of Ver, is the CEO of Kraken. When the NYAG was conducting the investigation, Powell made a point not to cooperate and declared that the investigation was hostile and bad for business. Unlike Ver, who has renounced US citizenship and left the country, Powell still resides in the United States and may be forced to do heavy work if Ver does not return to respond to the case.
Amaury Sechet – Sechet is the lead developer of Bitcoin ABC and the self-proclaimed benevolent dictator of Bitcoin Cash BCH. The anarchist is a French citizen who is responsible for the controversial changes to the software of the node that eventually caused the break and the possible fork in the BCH chain.
Shammah Chancellor – He is a developer with Bitcoin ABC who works with Sechet.
Jason Cox – Together with Chancellor, he works with Bitcoin ABC as a developer.
United American Corp. – The Florida-based company focuses on telecommunications applications, including BlockchainDomes, which are environmentally friendly encryption systems that use the heat generated to power the green homes and grow food. In 2017, the AUC moved heavily in the development and implementation of blockchain-related technologies. The company believes that the high expansion of the Bitcoin Cash network could put its investments at risk, as the changes made by Bitmain and Ver & # 39; s Group have altered the fundamental economy of the company.
The complete documentation can be found here.
