Bitmain, Roger Ver and the crypto exchange Kraken is sued for price manipulation

Bitmain, Roger Ver and the crypto exchange Kraken is sued for price manipulation.

Image source: Shutterstock / Wikimedia Commons

Tim Haldorsson

tim.haldorsson@trijo.co

The American company Unitedcorp has filed a lawsuit against "bitcoin cash abc" supporters. The company accuses the supporters of hiring mining power in order to control the bitcoin cash network.

Bitcoin cash is a so-called hard fork from bitcoin. On November 15, bitcoin cash made a new hard fork that ended in that the cryptocurrency split into the two different currencies “bitcoin cash abc”, now bitcoin cash, and “bitcoin sv”.

After the split, supporters of both sides of bitcoin cash have been “fighting” against each other in order to become the biggest “bitcoin cash”.

Supporters of “bitcoin cash abc” are being sued

Now, the American company Unitedcorp has accused the “bitcoin cash abc” side of collaborating in order to control and centralize the network.

In addition, “bitcoin sv” today has a higher market value than “bitcoin cash abc”, which has previously been the biggest bitcoin cash.

The prices and market value of bitcoin sv and bitcoin cash ("bitcoin cash abc").

The prices and market value of bitcoin sv and bitcoin cash (“bitcoin cash abc”). Image source: Coinmarketcap

According to a press release from Unitedcorp, the company has filed a lawsuit against the mining giant Bitmain, the site bitcoin.com, the bitcoin cash advocate Roger Ver, and the crypto exchange Kraken, who all previously expressed support for “bitcoin cash abc”.

“Unitedcorp believes that the defendants colluded to effectively hijack the bitcoin cash network after the November 15, 2018 scheduled software update with the intent of centralizing the network – all in violation of the accepted standards and protocols associated with bitcoin since its inception”, Unitedcorp writes in the press release.

“No person can be allowed to control them”

In the lawsuit, Unitedcorp continues to describe how “bitcoin cash abc” hired mining power to control the network and that this completely contradicts what bitcoin cash is.

“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”, Benoit Laliberte, CEO at Unitedcorp, said.

He then ads the following: “In order to maintain confidence in cryptocurrencies such as bitcoin cash, no person or entity can be allowed to control them”, according to the press release from Unitedcorp.

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