A cryptocurrency investor from Canada has filed a lawsuit against the operator of the cryptocurrency wallet GateHub and the cryptocurrency exchange Bitstamp. According to the statement, the plaintiff suffered $4.9 million in damages due to the companies ‘ fault.
Salim Satir has filed a lawsuit in the Supreme court of England and Wales, in which he claims to have suffered damages due to misleading statements on the GateHub website. In addition, Satyr accuses the cryptocurrency wallet operator of improperly holding 872 BCH that belonged to him after the Bitcoin Cash hard fork in 2017.
Satyr claims that information provided on the Gatehub website misled Him about the” process and effect of BTC/XRP exchange ” on the platform, which resulted in losses of $2.5 million. Satyr believed that he was making a spot purchase of BTC for XRP, and instead received “digital receipts for bitcoin” (Bitcoin IOU), which will be stored on the Bitstamp exchange.
The plaintiff also claims that when he tried to transfer 872 BTC from his account in December 2017 and January 2018, GateHub blocked the transactions. Satyr accuses the company of hiding a technical fault from its customers – as a result of the delay, it lost $2,992 from each BTC, which led to losses of $2.5 million.
In addition, Satyr States that GateHub did not deliver him 872 BCH, which became his property after the appearance of Bitcoin Cash in August 2017. In his opinion, the company kept the coins “in their favor”. As part of the lawsuit, Satyr is also seeking $2.4 million in damages caused by GateHub’s failure to deliver 872 BCH “that rightfully belonged to It.”
It is not the first time that the operator of the GateHub cryptocurrency wallet has faced problems. In November last year, hackers gained access to the personal information of 1,400,000 users of a cryptocurrency wallet, and a few months earlier, as a result of hacking wallets on GateHub, hackers stole XRP for $10 million.