Chinese Investor Sues Local Cryptocurrency Exchange OKCoin For Blocking Release Of Bitcoin Cash (BCH)

A cryptocurrency investor from China sued the virtual currency exchange OKCoin for blocking access to 38.748 Bitcoin Cash (BCH-USD), the balance present during the fork in his account. The trader whose pseudonym is Feng Bin accused the Chinese exchange of disallowing him access Bitcoin Cash created after the fork last year at the start of December 2017.

Feng Bin says OKCoin stopped him from extracting BCH

However, OKCoin has denied the accusation saying that that stipulated Bitcoin Cash was not released as the investor did not claim his coins within the deadline. Apparently, the deadline was not disclosed to traders. Feng Bin said that he found no button that could allow him extract Bitcoin Cash as was promised by OKCoin after he tried to sell BCH when the virtual currency reached its pinnacle of approximately $4,000 in the month of December last year.

On its part, OKCoin said that the program of the platform already expired when Feng Bin tried to extract Bitcoin Cash. OKCoin also added that if the investor fails to withdraw BCH during the program it becomes impossible to execute the withdrawal at a later stage. However, Bin is not ready to accept this clarification and said, “I have been paying attention to the announcement of the OKcoin currency release. In all the announcements, there is no declaration of the deadline for receipt and the removal of the program.”

Furthermore, Bin claimed that when contacted the company responded saying that the claim button was part of a program that automatically carried out the execution of BCH to the account of the user.

OKCoin to challenge claim of Feng Bin

The cryptocurrency exchange from China challenged the claim by Feng Bin. OKCoin said that there are some inconsistencies between the records of Bin’s account balances and his story. It is not the first time that Bitcoin Cash has been dragged into a legal controversy. The cryptocurrency has been facing challenges and controversies all through the year. Roger Ver, the number one supporter of BCH in the crypto market created quite a ripple when he stated that Bitcoin Cash is, in reality, the real Bitcoin (BTC-USD) in November 2017.

An ad to help with our costs