A Chinese investor has filed a lawsuit against the Okcoin cryptocurrency exchange in the amount of 38,748 BCH. The plaintiff accuses the exchange of failing to withdraw funds promised by the exchange after the BCH fork was created last year, to which the exchange responded that the client allegedly did not request the funds on time.
According to Legalweekly, the plaintiff, known as Feng Bin, claims that in early December 2017, while trying to withdraw 38,748 BCH, which is the equivalent of the bitcoins he owned at the time of the fork, he discovered that the [BCH] withdrawal option promised by the platform was missing.
Feng Bin informed the Okcoin exchange about the problem, to which the staff told him that the option to withdraw BCH was a program that automatically converted funds, and after the deadline, it was removed from the platform. “If you do not withdraw funds on time, there is no way to do so,” the exchange responded, despite an announcement dated August 1, 2017, which stated: “If you have bitcoin on the platform, you can receive Bitcoin Cash in an amount equal to the amount of your funds.” The plaintiff claims that none of the exchange's announcements specified any deadline.
The plaintiff is seeking damages from the exchange in the form of compensation for lost profits because he was unable to sell the promised BCH coins during the peak price, which he believes is 169,969.22 yuan (or about $25,000).
Okcoin exchange questions Feng's ownership rights Bin on the bitcoins contained on the exchange, arguing that there was no trading activity on the account during 2017, which is strange given the market conditions of last year.
According to https://news.bitcoin.com
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