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Bitcoin Players Seek Exit From Market ‘Hijacking’ Suit – Law360

Law360 (October 9, 2019, 7:13 PM EDT) — Several prominent players in the Bitcoin Cash cryptocurrency network urged a Florida federal court Wednesday to let them out of a suit over their alleged “hijacking” of a software upgrade that a Miami-based company says led to a $4 billion “global capitalization meltdown.”

United American Corp., a telecommunications, social media and blockchain technology development operation doing business as UnitedCorp., claims that China-based bitcoin miner Bitmain Inc., cryptocurrency exchange Kraken, and several individuals conspired to temporarily take control of the Bitcoin market in violation of accepted standards and protocols in place since its inception.

In a short, consolidated brief, five of the…

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