Reading: Bitcoin.com Fraud Lawsuit Group Gaining Steam With Over 1000 Members

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Bitcoin.com Fraud Lawsuit Group Gaining Steam With Over 1000 Members

Wilma Woo

Wilma Woo | Apr 30, 2018 | 06:30

News

Bitcoin.com Fraud Lawsuit Group Gaining Steam With Over 1000 Members

Wilma Woo

Wilma Woo | Apr 30, 2018 | 06:30


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An attempt to sue Bitcoin.com over allegedly “fraudulently” presenting altcoin Bitcoin Cash (BCH) as Bitcoin (BTC) has gained support from over 1000 people.


Bitcoin.com And Bitcoin Cash: Enough Is Enough?

The dedicated Telegram group made up of organizers and those who have lost money due to the cryptocurrency news and information outlet’s practices current holds 1016 members at press time April 30.

The group has existed less than a week, but already features well-known cryptocurrency figures including Charlie Shrem and Richard Heart, as well as Nakamoto Institute founder Pierre Rochard and entrepreneur Alistair Milne.

Aiming to take Bitcoin.com to court in its registered jurisdiction – the Caribbean nation of St. Kitts and Nevis – the group focuses on a widely-held belief that the resource has deliberately misled users into buying an altcoin instead of Bitcoin itself.

Roger Ver, Bitcoin.com’s owner and staunch BCH supporter, has frequently claimed outright that “Bitcoin Cash is Bitcoin.”

Despite even long-time supporter ShapeShift CEO Erik Voorhees publicly asking Ver to stop the practice last week, the lawsuit has its motivation elsewhere.

Users Line Up With Bitcoin.com Horror Stories

Last week, website redesigns saw Bitcoin.com, which began its BCH-focused efforts in Q3 2017, publish what participants say is its most misleading content yet.

Having previously referred to ‘Bitcoin (BTC)’ and ‘Bitcoin Cash (BCH),’ the site’s block explorer now labels the two cryptocurrencies ‘Bitcoin Core (BTC)’ and BCH simply as ‘Bitcoin.’

“Everybody is frustrated and outraged plus you have victims now losing money because of it,” the lawsuit’s main organizer MoneyTrigz explained. “[Bitcoin.com] crossed the line, and we’re pushing back legally.”

The effort has been inundated with testimonials from users who say they lost funds as a direct result of engaging with Bitcoin.com’s pseudo-Bitcoin content.

Others confirm downloading the current incarnation of the site’s wallet gives users a Bitcoin Cash wallet while describing it as ‘Bitcoin’ – a move apt to trick the user into sending BTC funds to a BCH address and losing them.

A selection of the testimonials reads:

“Like many others i lost money due to confusing Bitcoin Cash with the real Bitcoin … £14,500 to be exact. I’m not sure if your group will be successful but hopefully you’ll let me stick around to at least see Mr Ver given a bloody nose…”

“Well I bought the Bitcoin cash that was pretending it was the real bitcoin… then later on I discovered that it was not the real one but a new Bitcoin that is not compatible with the old one.

“Just did some research and downloaded that bitcoin[.com] wallet. As you can see, after going through registration process, boom, ‘your bitcoin wallet is ready’ yet no bitcoin wallet?”

Lawsuit Details Revealed Soon

In further comments Friday, he added that “as soon as lawsuits are filed and everything is set we can disclose all legal documents and legal firms involved.”

Over the weekend, group members reported receiving fake donation invitations from MoneyTrigz on Twitter in form of direct messages.
BItcoin.com lawsuit

Ver meanwhile has continued to cause controversy in person as well as online in recent weeks, Bitcoinist reporting on various incidents when the entrepreneur came to blows with the cryptocurrency industry over BCH.

Ver supporter Craig Wright, who claims to be Satoshi Nakamoto, was even publicly branded a “fraud” by Ethereum cofounder Vitalik Buterin earlier this month.

What do you think about the Bitcoin.com lawsuit? Let us know in the comments section below!


Images courtesy of Shutterstock, Twitter


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