RATE Group | Trader Sues Exchange OKCoin for Failing to Release Bitcoin Cash
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Trader Sues Exchange OKCoin for Failing to Release Bitcoin Cash

07 Aug Trader Sues Exchange OKCoin for Failing to Release Bitcoin Cash

Posted at 03:36h in Bitcoin News by

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A Chinese Bitcoin (BTC) investor has sued local crypto exchange OKCoin for allegedly preventing him from getting Bitcoin Cash (BCH) after the BTC fork, local news agency Legal Weekly reports July 31. The case is reportedly the first legal action in China that involved last year’s fork of Bitcoin.

The investor, known under the pseudonym Feng Bin, filed a lawsuit against OKCoin, accusing the exchange of blocking him from receiving 38.748 BCH that he was due after Bitcoin’s hard fork in August 2017.

In the lawsuit, Feng Bin states that he attempted to sell the 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, he reportedly “found that there was no ‘button’ to extract the [BCH] that the platform promised.”

Following a complaint to the platform’s customer support, OKCoin stated that Feng Bin could not extract any Bitcoin Cash because the platform’s…

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