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Roger Ver, Bitmain, Kraken sued for Alleged Exploiting of Bitcoin Cash

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Crypto giants like Bitcoin.com, Kraken, Roger Ver, and Bitmain have been sued by a Florida -based United American Corporation, according to a press release dated December 6. Unitedcorp. is alleging that the aforementioned companies planned a scheme to take over the Bitcoin cash network.

UnitedCorp. is an American company founded in 1992. It is a development and management firm which focuses on developing telecommunications and information technology. The firm also experiments on Blockchain technologies and has introduced Blockchaindomes, a project which focuses on providing heat for agricultural stations.

Unitedcorp. is alleging that the aforementioned companies planned a scheme to take over the Bitcoin cash network.

The filed suit states that the defendant jointly schemed a hard fork in the market by using unfair means and practices by manipulating Bitcoin Cash and harming UnitedCorp. and other stakeholders. The press release further stated, "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."

On 15th November, the Bitcoin cash network went into an update thus resulting in two divisions between the community i.e., Bitcoin Cash ABC and Bitcoin Cash SV. UnitedCorp. alleges that the defendants used a method called "rented hashing" to manipulate the coin's network. This happened right after the upgrade which led to the adoption of ABC rule sets rather than democratic rule sets.

On 15th November, the Bitcoin cash network went into an update thus resulting in two divisions between the community i.e., Bitcoin Cash ABC and Bitcoin Cash SV.

UnitedCorp. also alleged that the defendants inserted a "poison pill" into the blockchain in the form of "Deep reorg prevention" to gain more control over the blockchain ledger. The release said, "UnitedCorp also alleges that a few days later on November 20th, the ABC development team planted a "poison pill" into the blockchain in the form of a "Deep Reorg Prevention" as well as other functionality in order to cement the control of the blockchain ledger. This intervention allows maintenance of control on future implementations and any related rule sets for future network upgrades."

The suit aims to seek injunctive relief against the defendants. UnitedCorp also seeks compensation for the damages whose value will be determined at the trial itself.

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