UnitedCorp has announced that it will be filing a lawsuit against Bitmain, Bitcoin.com, Roger Ver, and cryptocurrency trade exchange Kraken.
According to the official press release, the company is accusing the defendants of orchestrating a scheme “to take control of the Bitcoin Cash network for personal gain and which caused a global capitalization meltdown of the Bitcoin Cash network at the expense of others.“
UnitedCorp has filed the lawsuit out of the claim that the entities involved have been using “unfair methods of competition and through a series of unconscionable, deceptive and unfair practices” in order to manipulate the decentralized network for personal gain. The firm further accuses the defendants of hijacking the network at the time of the scheduled fork update midway through November in order to centralize the network in their favor:
“UnitedCorp alleges that the defendants took control of the Bitcoin Cash network immediately after the November 15th software upgrade against all principles and protocols of the blockchain, through the use of “rented hashing” the process of artificially and temporarily deploying or redirecting computing power to take control of the network and used this computer power to favor the adoption of the Bitcoin ABC new rule sets over other implantations that would have maintained democratic rule sets.”
Regarding the lawsuit, the president of the Florida-based UnitedCorp Benoit Laliberte stated:
“We are bringing this suit on behalf of UnitedCorp because we believe strongly in the value and integrity of democratic, distributed and decentralized blockchain networks which will become more important with time. In order to maintain confidence in cryptocurrencies such as Bitcoin Cash, no person or entity can be allowed to control them.”
As it stands, Bitcoin Cash is facing 15.37% declines in market price and is trading at $102.31 USD while Bitcoin SV has seen an increase of 20.30% day-on-day trading values and is now sitting at $108.90 USD.