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Lawsuit accuses Roger Ver and Jihan Wu of hijacking Bitcoin Cash

06 Dec, 2018
by Joeri Cant
News
Lawsuit accuses Roger Ver and Jihan Wu of hijacking Bitcoin Cash

According to Marketwatch, the Bitcoin Cash figurehead and CEO of Bitcoin.com, Roger Ver and Jihan Wu, co-founder of Bitmain, and a prominent supporter of Bitcoin Cash, are being sued by the company United America Corporation, a Florida firm which works in experimental blockchain technologies.

The Bitcoin Cash hard fork drama continues into the courts.

United American Corp. accuses Roger Ver, Jihan Wu, Bitcoin.com, Bitmain Corporation, and Kraken exchange of manipulation of the Bitcoin Cash network during and after the Nov. 15 hard fork.

According to the court filing, United American Corp. alleges that parties including Bitmain, Bitcoin.com, Roger Ver, Jihan Wu and the Kraken exchange engaged in unfair methods of competition that were detrimental to UnitedCorp and other stakeholders. 

'This well-planned scheme caused a global capitalization meltdown of more than $4 billion and caused many U.S. Bitcoin holders, including plaintiff, to suffer damages and irreparable harm.'

'We are bringing this suit on behalf of UnitedCorp because we believe strongly in the value and integrity of democratic, distributed and decentralized blockchain networks which will become more important with time', said Benoit Laliberte, president of UnitedCorp.

'In order to maintain confidence in cryptocurrencies such as Bitcoin Cash, no person or entity can be allowed to control them.'

UnitedCorp claims that a number of entities took control of the network using rented hashing, the process of artificially deploying computing power to a network, to favor the adoption of Bitcoin ABC.

'It is clear that’s what supposed to be a democratic process was not, it was hijacked by the ABC camp', said Lawry Trevor-Deutsch, VP of Corporate Affairs at UnitedCorp.

UnitedCorp further alleges That Roger Ver colluded with Jihan Wu of Bitmain to reallocate Bitmain servers from the Bitcoin Core network.

'The above described actions were intentional and clearly planned in advance, with Bitmain organizing deployment of up to 90,000 Bitmain Antminer S9 servers in early November.' the court filing reads.

Related: Roger Ver shares his thoughts on the recent Bitcoin Cash hard fork

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