Roger Ver and Bitcoin.com under a threat of a lawsuit

More than 600 users have gathered to file a lawsuit against Roger Ver and his Bitcoin.com for fraud
27 April 2018   1624

The usual simmering scandal around Roger Ver's Bitcoin.com portal just got a lot more complicated. Now more than six hundred people have already gathered under the flag of a lawsuit against Ver's questionable actions.

First of all, Bitcoin.com, strangely enough, is owned by a Bitcoin Cash activist Roger Ver. And the whole layout and content of the site is, it seems, aimed at misleading people new to the crypto world, that Bitcoin Cash is, in fact “real Bitcoin” - from the placement of Bitcoin Cash above Bitcoin, to the non-existent monikers or color differentioation of BCH and BTC respectfully on the “Buy Bitcoin” page. But the most glaring insult to the community is that on the aforementioned page of Ver's site BTC somehow became “Bitcoin Core”, which is, in fact, just the name of the client app, not the currency itself. And Bitcoin.com is the only site to refer to BTC like that.

Oh, and let's not forget the most recent development – now the site presents BCH as Bitcoin. Throughout the site this change is the most prominent in the block explorer, which now has options of Bitcoin (BCH) and Bitcoin Core (BTC).

All of the above amounts to a serious case of fraud in the eyes of the community. So affected users have gathered in a Telegram group chat and are now planning to file a lawsuit against Bitcoin.com and Roger Ver. Already over 600 people have joined the group, including some notable personalities, such as Charlie Shrem, Richard Heart and Ibrea.org founder Ragnar Lifthrasir, who's long talked about reporting Bitcoin.com's wallet for being a fraud.

Right now the group doesn't disclose what legal steps will be made, just that the talks are on with the lawyers from Caribbean island of St. Kitts, where Bitcoin.com company is registered. The exact steps to be taken are purposefully omitted from the public discussion, because several people directly tied to the site in question have been banned from the chatroom.

Also, a website bitcoincomlawsuit.info was launched today so that all the people who've lost money due to the scheme can join in the lawsuit.

Coinbase to Appear in San Francisco District Court

Exchange representatives must appear in court due to issues related to BCH trading launch in 2017
07 August 2019   129

San Francisco District Court judge Vince Chhabria ruled that the latter showed negligence and “clear incompetence generated by haste” when it started trading in Bitcoin Cash (BCH) on Coinbase. Now Coinbase, apparently, will be forced to stand trial, Bloomberg reports.

So, at the end of 2017, the exchange opened BCH trading, but was forced to suspend operations after 2 minutes due to high volatility and suspicious price increases - the coin began to grow rapidly several hours before the announcement of Coinbase.

Then the company was accused of insider trading, later crypto enthusiasts even began to find confirmation of this.

According to the judge, the users who bought VSN at inflated prices were primarily affected. He noted that the suspension of trading was too hasty and disrupted the normal functioning of the market.

BCH buyers claim that Coinbase could have announced a bid in advance to prevent a price spike, but it did not. The judge agreed with this opinion and noted that shortly before the launch of BCH trading on Coinbase, the Chicago Mercantile Exchange opened trading in bitcoin futures, which could become a factor of too much market participants' recovery.

According to the publication, Coinbase has not yet commented on the court decision.

Recall that in March 2018, a class action lawsuit was filed against the company, in which Coinbase was accused of “artificially overpricing” Bitcoin Cash through trading based on insider data.