A new lawsuit alleges that proponents of ABC – one of two competing iterations of the bitcoin cash cryptocurrency that split off during a hard fork last month – illegally manipulated the market, damaging investors as a result.
Florida-based United Investment Corp. filed a federal lawsuit in the U.S. District Court, Southern (NYSE:) District of Florida claiming that Roger Ver, bitcoin.com, Bitmain and co-founder Jihan Wu, crypto exchange Kraken and founder Jesse Powell, and ABC developers Amaury Sechet, Shammah Chancellor and Jason Cox centralized bitcoin cash and manipulated the price during its contentious hard fork.
The suit claims that bitcoin.com and Bitmain (and their respective founders) “hijacked the [bitcoin cash] blockchain,” especially by dedicating mining power in theory assigned to mining the bitcoin blockchain to mining what was then referred to as the Bitcoin ABC chain.
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