Bitmain Files ‘John Doe’ Lawsuit in the State of Washington


According to court documents filed in Seattle, Washington, the mining rig manufacturer Bitmain has filed a lawsuit against an unidentified suspect who hacked the company’s Binance account. Bitmain hopes to identify the defendant “John Doe” and recover the stolen BTC siphoned from the organization’s cryptocurrency holdings held on the exchange. Also Read: Fork Watch: List of BCH Services Providing Fork Support Bitmain Files a Lawsuit in Seattle, Washington It seems Bitmain is currently suing an individual, but doesn’t know who the suspect is just yet. Right now, according to court documents, the company is in a “John Doe” lawsuit involving an unknown hacker and the cryptocurrency trading platforms Binance and Bittrex. According to the lawsuit filed by the litigation firm Perkins Coie LLP, Bitmain lost 617 BTC on April 22, 2018. This was when BTC/USD global spot market prices were approximately $8,935. At that time, the law firm believes, the hacker used the funds to inflate the prices of a lesser known cryptocurrency called decentraland (MANA) and pump and dump other smaller cryptocurrency markets.  “Before the unauthorized trades on April 22, 2018, Bitmain’s digital wallet held approximately 890 BTC — After the unauthorized trades, Bitmain’s digital wallet had approximately 265 BTC,” the lawsuit explains. After facilitating wash trades and pumping the coins with tiny market valuations, using both Bitmain’s account and his own Binance wallet, the hacker then sent the stolen funds to Bittrex in order to manipulate more markets. Bitmain’s lawyers state that Doe intentionally accessed a protected computer without authorization…
Source: Bitmain Files ‘John Doe’ Lawsuit in the State of Washington

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