Chinese Investor Sued OkCoin Over Unclaimed BCH
August 7, 2018
A cryptocurrency investor from the People's Republic of China filed a lawsuit against the Chinese cryptocurrency trading platform OkCoin. The investor accuses the exchange of not giving him BCH tokens after the fork of Bitcoin Cash from Bitcoin in 2017. The exchange says that the investor did not claim coins within the allotted time, although OkCoin never specified the time period for it and did not inform its users about any restrictions.
Legalweekly reports, that it is the first case related to the fork of Bitcoin. The investor, who uses the alias Feng Bin, says that he tried to withdraw his 38 BCH, but he never saw the button for this action.
He later contacted OkCoin, and the exchange responded him with the following answer:
"The claim ‘button’ was a program that automatically executed BCH input to the user’s account. You cannot claim BCH anymore as the program has been removed from our platform. If you didn’t withdraw it at that time, it will be impossible to make a later withdrawal."
After that Feng Bin conducted his own investigation of the situation and found that the exchange has not announced any BCH withdrawal restrictions. He requires $25,000 from the exchange, as he could not sell the cryptocurrency at the maximum price in December 2017.