Craig Wright’s Wife Wins Case Against UFX Exchange 0 63

Not only does Craig Wright claims to be Satoshi Nakamoto, the mysterious founder of Bitcoin, but he also has a reputation of being litigious. Now, it appears that his wife shares the same trait. Recently, his wife Ramona Ang managed to achieve a major victory against the UFX exchange platform. Honorable Judge Justice Butcher hailing from the UK High Court recently ruled in favor of Bitcoin SV proponent Craig Wright’s wife against UFX’s Cyprus-based operator, Reliantco. The exchange had been sued by Ang after it had closed her account without returning the funds she had deposited years ago. 

According to the judge’s ruling, the company was unable to prove that Ang was not the principal user of the account in question. The Cyprus-based company stated that they had shut down the account because it was primarily being controlled by Wright. It alleged that the account was being used by Wright for moving his funds after they had blocked his account on the exchange platform. Wright’s account had been closed down after fraud allegations were made against him, but they did return the $10,000 that had been deposited in his account. However, when they closed down Ang’s account, they didn’t offer a similar compensation.

In the suit filed by Ang, she had demanded a total figure of $708,857, which included her initial deposit of $400,000 that had been invested in Bitcoin futures and the other $300,000 was for the profits she had made since then on her open positions. In fact, a loss of $1,334,163 was also claimed by Ang that would have come if she had opened a Bitcoin account on Kraken and used the asset’s fork to earn 3500 BCH. The total compensation that had been claimed by Wright’s spouse was around $2,643,020. The judge explained in his ruling that even though some of the claims had proven to be inaccurate and untruthful, there wasn’t any evidence to show that Ang wasn’t the principal user of the account.

Hence, the exchange would have to give her a refund. While Ang has enjoyed some success where her lawsuit is concerned, the same cannot be said for Wright. The self-proclaimed founder of Bitcoin has been involved in a legal tussle with his former business associate, David Kleimann’s family, regarding the ownership of Bitcoin. Other than this suit, Wright has had to deal with a few other legal losses as well. In August, Wright was bashed on Twitter by Hodlnaut, a crypto-commentator from Norway, for not paying the $60,000 fee involved in a suit he had lost. 

The suit had been made a year ago, after Wright had been labeled as a liar by Hodlnaut for claiming to be Satoshi Nakamoto. Along with names like Peter McCormack and Adam Back, the man had sued Hodlnaut for libel. Wright said that the commentator had slandered him. However, the case had been thrown out last December by the Norwegian District Court and the Bitcoin SV proponent had been asked to pay the legal fees involved.

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Central Banks Will Not Allow Bitcoin to Go Mainstream, Says Harvard Professor 0 4

Since the beginning of the year 2020, Bitcoin (BTC) has been flying high with respect to its price and market capitalization. There have been many mainstream institutions such as PayPal, MicroStrategy, and MassMutual that have played a huge role in deciding the fate of Bitcoin (BTC).

Although Bitcoin (BTC) had mustered a lot of user-base from the private sector, all it required was input from the mainstream sector. This is when PayPal announced that it was going to integrate Bitcoin (BTC) into its platform.

This worked like a charm for Bitcoin (BTC), and the largest cryptocurrency in the entire world got even bigger. Since then, Bitcoin (BTC) has been constantly gaining mainstream adoption and several institutions from around the world have adopted it.

However, similar to the president of the ECB, there are still many who still do not support the idea of adopting cryptocurrencies and Bitcoin (BTC) altogether.

Bitcoin (BTC) has been facing a lot of resistance and hard times from traditional financial institutions. It is the banks that are currently opposing the idea of Bitcoin (BTC) being dealt with as an asset for savings and investments.

The above speculation has also been confirmed by one of the professors from one of the world-renowned universities “Harvard”. Kenneth Rogoff, who is currently a Professor of Economics at Harvard talked about how the central banks currently perceive Bitcoin (BTC).

Rogoff stated that if people think that Bitcoin (BTC) has started gaining mainstream popularity, then they are mistaken. Despite all the success and attention, Bitcoin (BTC) is still far from gaining real mainstream adoption.

However, Bitcoin (BTC) currently has a very harsh and difficult journey ahead as the central banks from around the world are going to give a very hard time.

He stated that the central banks will not let Bitcoin (BTC) gain mainstream success and adoption. The professor stated that other cryptocurrencies are likely to face the same kind of treatment from the central banks.

He stated that for the time being, the majority of the cryptocurrency industry is unregulated. Many cryptocurrency firms in the industry do not adhere to the regulations that include AML and KYC policies.

For now, it is not possible for cryptocurrencies to be given mainstream status in the economy. The first thing that the governments would do is regulate cryptocurrencies and ensure that the policies are being adhered to.

Once the cryptocurrency regulations are streamlined and adherence is above satisfactory levels, then the cryptocurrencies stand a chance of being given mainstream status.

The words coming from Rogoff hold very high significance as he was one of the former chiefs at the IMF.

Bittrex Exchange Allowed Bitcoin to be Stolen, Claimed by Spanish Customer 0 6

As per the latest reports, the police authorities of the city of Tenerife have been given permission to investigate a case regarding Bittrex. As per sources, permission to look into the matter has been given by the Spanish court. The investigation has been launched by the Spanish court in response to a complaint that was launched by a Spanish Bittrex customer.

In the complaint, the customer has alleged to Bittrex that it was due to the exchange that he ended up losing his Bitcoin (BTC) to a theft. The plaintiff held the exchange responsible for the theft that led him to lose Bitcoin (BTC) that was worth $62,000.

As per sources, the cybercrime unit of the Tenerife police authority is currently investigating the matter. The cybercrime unit has stated that it will soon be sharing its preliminary findings around the matter. Then the police will be able to determine whether the exchange is to be held responsible for any involvement in the matter or not.

However, the plaintiff is continuing to blame the exchange for letting his Bitcoin (BTC) be stolen and taken away by the cybercriminals. He has claimed that the hacker was deliberately granted access to his wallet account on the exchange. As a result, the anonymous hacker was able to make away with around 1.3 Bitcoin (BTC) in the process.

One of the local reporting networks has revealed that the plaintiff himself is a resident of Tenerife city. The person claimed that it was May of 2020 when he had opened up his wallet account on the exchange for Bitcoin (BTC).

The plaintiff claimed that after creating the wallet account, he added 1.3 BTC to the same wallet account. Soon after making the deposit, he realized that his wallet with 1.3 BTC had been emptied and there was no sign of it.

Soon after learning about the theft, the first thing he did was get in touch with Bittrex so he got in touch with their customer support. Although he expected the team to support him, he got told by the customer support team that his account had been victimized by cybercrime.

The claimant also added in the report that he had hired a personal security expert in order to investigate the case. He wanted to get to the bottom of the theft and wanted to find the cybercriminals himself as he received no support from Bittrex.

The security expert hired by the claimant also shared his findings with the Spanish court. According to the report, Bittrex on four different occasions allowed the BTC wallet account to be accessed before the theft was attempted. The investigating expert also confirmed that the breach was observed from four different IP addresses.

All of the IP addresses used to breach the wallet account included Granada, United States, France, and Madrid.

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