A Chinese Bitcoin investor (BTC) has sued the local OKCoin encryption for allegedly preventing it from obtaining Bitcoin Cash (BCH) after BTC's fork, the local news agency Weekly Weekly reports on July 31st. The case is the first legal action in China that involved the Bitcoin fork last year.
The investor, known under the pseudonym of Feng Bin, filed a lawsuit against OKCoin, accusing the exchange of stopping him from receiving 38,748 BCH that would have been due to him after the hard fork of Bitcoin in August 2017.
In the case, Feng Bin claims to have attempted to sell Bitcoin cash when the digital currency reached its all-time high of around $ 4,000 in December 2017. However, when the investor tried to withdraw the BCH after the fork, according to reports, "discovered that there was no" button "to extract the [BCH] that the platform had promised."
Following a complaint to the platform's customer support, OKCoin said that Feng Bin could not extract any Bitc oin Cash because the platform program for claiming forked encryption has expired. The investor, in turn, claimed that the encrypted exchange had not made an official announcement on the deadline for Bitcoin Cash's request:
"I have paid attention to the announcement of the release of OKcoin currency. All announcements, there is no expiration statement for the receipt and removal of the program. "
OKCoin reported challenging Feng Bin's request, citing inconsistencies between its history and the records of its accounting balances.
Bitcoin Cash is a well known example of hard fork, which is a permanent division into a blockchain protocol, where nodes running in the previous version will no longer be accepted in the new version.
Bitcoin bifurcated on August 1, 2017, leading to the presence of two completely different digital currencies, while users who held Bitcoin before the fork received an equal number of Bitcoin Cash. BCH celebrated his "first birthday" at the beginning of last week.
Bitcoin Cash has been the subject of some controversies during the year. Roger Ver, one of BCH's biggest promoters, said Bitcoin Cash is the "real Bitcoin" in November 2017. Ver said that BCH "will have the largest market capitalization, trading volume and user base in the future."