Salim Satir, an investor from Canada, considered himself to be affected by the deliberately false information that Bitstamp and Gatehub exchanges placed, which resulted in losses of $4.9 million. He intends to recover this amount from exchanges through the High Court of England and Wales, Law360 reports.
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According to the plaintiff, the Gatehub website, which he used to exchange Ripple (XRP) for bitcoins, provided false information regarding the specifics of this procedure. As a result, instead of the BTC, Satir initially received debt receipts for the cryptocurrency that was at the disposal of Bitstamp.
Satir also claims that after the Bitcoin Cash hard fork in August 2017, Bitstamp withheld the BCH owed to it “for its own benefit”. Having not received the same number of BCH coins in addition to the available 872 BTC, the investor suffered losses of $2.4 million.
Later, Gatehub, according to him, did not inform customers about the presence of a technical malfunction, which did not allow him to transfer bitcoins to Bitstamp. During the time during which he unsuccessfully tried to withdraw funds from Gatehub, bitcoin fell in price by $2,992, which led to additional losses of $2.5 million.