The Chinese investor sues OKCoin for the money in Bitcoin from the fork of the last year


  Bitcoin cash hard fork

A Chinese investor has filed a lawsuit against the OKCoin cryptocurrency exchange regarding more than 38 bitcoins in cash claiming that the platform did not distribute to him after the hard fork of the last year, according to a charge sheet on LegalWeekly.

Plaintiff, known only under the pseudonym of Feng Bin, states that he expected to get the "air flight" of the BCH that occurred when the cryptocurrency broke away from the main block of Bitcoins. In an attempt to withdraw the 38.748 BCH, which corresponds to its BTC balance at the time of the fork, Bin "discovered that there was no button" to withdraw the BCH as promised the exchange.

As a result, the investor has filed a $ 25,000 lawsuit against the platform, and is also asking for repairs due to "losses" suffered by not being able to sell his BCH when its price touched the historical maximum in mid-December.

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BCH / USD | Bitstamp

While Bin argues that the exchange prevented him from withdrawing the BCH as promised, the exchange responded by saying that there was a timeline for users to claim their BCH on the platform. According to a statement released in the publication, OKCoin states: "You can no longer claim BCH because the program has been removed from our platform.If you did not withdraw it at that time, it would be impossible to make [a] the next withdrawal."

Bin, however, he replied by saying that he was unaware of any deadline. According to him, he had closely followed the company's announcements during the period, and there was "no statement" of a deadline for BCH's withdrawal from the platform, as claimed by the exchange.

"I have been paying attention to the announcement of the OKCoin currency release." In all announcements, there is no expiration statement for the receipt and removal of the program, "Bin said.

Plaintiff Applies to Repairs

Bin is currently seeking reparations for losses incurred due to the impossibility of withdrawing his BCH and subsequently denying him the opportunity to sell them at peak prices. It is looking for 169,969.22 yuan (about $ 25,000 in total). OKCoin, however, is not going to settle down. They believe his claims on the holdings are questionable, describing the lack of commercial activity in his account during the period as strange, given the bullish run last year.

While this is the first case against OKCoin linked to bitcoin money, it is not the first time that the exchange of digital resources is exchanged. In 2016, bitcoin investor Roger Ver cited the exchange for $ 570,000 for allegedly terminating a contract.

Close-up image of Shutterstock

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