Over 900 Bitcoin Users Prepare Lawsuit Against Bitcoin.com And Roger Ver

  • A class action lawsuit agaisnt Bitcoin.com and its CEO Roger Ver is currently in the works.
  • Behind it is the way Bitcoin.com, the most sought-after domain in the crypto space, has allegedly been attempting to take over the Bitcoin brand.

Over 900 bitcoin users are currently organizing a lawsuit against Bitcoin.com and its CEO Roger Ver, over the website allegedly deliberately being misleading towards new users, and tricking them into buying Bitcoin Cash (BCH), instead of Bitcoin (BTC).

The Bitcoin.com domain is one of the most sought-after in the cryptocurrency space. It’s owned by Bitcoin Cash supporter Roger Ver who recently redesigned it. The website’s new design, according to Bitcoin users, promotes Bitcoin Cash (BCH) as Bitcoin, and dubs Bitcoin “Bitcoin Core.”

Bitcoin Core refers to the cryptocurrency’s software client, which was originally named “Bitcoin,” but was later on renamed to distinguish the network from the cryptocurrency. On Bitcoin.com’s website and wallets, Bitcoin Cash appears first and often with the BTC ticker, a move that can potentially confuse users.

On the company’s block explorer, for example, Bitcoin Cash is displayed with a BTC ticker, while Bitcoin Core has a BCH ticker next to it. This has outraged the Bitcoin community, and has been controversial among Bitcoin Cash supporters as some believe the cryptocurrency would be able to compete on its own, without fighting for the bitcoin brand.

A Brewing Lawsuit

The Bitcoin vs. Bitcoin Cash debate is seemingly going to court, as a lawsuit is being organized on a Telegram chat room. It was created by popular Twitter user @MoneyTrigz, and at press time has 902 members.

The group reportedly attracted some influential community members, including early Bitcoin entrepreneur Charlie Shrem, Xotika.TV CEO John Carvalho, and others. Some have been asking Roger Ver to stop his alleged fraud, and asking the community to report the Bitcoin.com wallet on app stores.

While MoneyTriz created the group, he claims no one is in charge of it. In it, members are so far getting ready for the legal battle, with some sharing stories of how they lost funds because of Bitcoin.com’s conduct.

In the group chat, one user wrote:

"Well I bought the Bitcoin cash that was pretending it was the real bitcoin... then later on I discovered that it was not the real one but a new Bitcoin that is not compatible with the old one.”

Alleged victim

While the group hasn’t yet disclosed which law firm it’s in contact with, it revealed it’s one from the Caribbean Island of St. Kitts. The group won’t publicly disclose a lot of information, as according to reports individuals linked to Bitcoin.com have attempted to access it.

The chat group itself is being used not to discuss the case, but for victims to come forward and share their experience with Bitcoin.com. The legal angles, according to MoneyTrigz, are being discussed with lawyers. An official website, bitcoincomlawsuit.info, has recently been launched, encouraging users to come forward and submit their evidence.

The website isn’t accepting donations just yet. Per reports there’s a lot going on behind the scenes, and the organizers are currently just gathering information and consulting lawyers.

On the r/btc subreddit, some users are currently mocking the lawsuit’s purpose, as they claim users who accidentally buy BCH instead of BTC can easily sell one for the other. Others have claimed that if the lawsuit is filed, they’ll join it on Roger Ver and Bitcoin.com’s side.

'Big Spender' Bitcoin Wallet Exploit Is an 'Issue With BTC Itself', Says BCH Supporter

Michael LaVere
  • Crypto security firm ZenGo has identified a double-spend exploit dubbed "BigSpender" which affected popular bitcoin wallets.
  • Exploit allows an attacker to cancel a bitcoin transaction without the receiving user knowing. 

A crypto security firm has identified a double-spend exploit targeting popular bitcoin wallet providers. 

According to a report by ZenGo, the security firm has discovered a double and multiple spend wallet exploit for bitcoin dubbed “BigSpender.” The report claims the exploit allows an attacker to cancel a bitcoin transaction but still have it appear in a victim’s vulnerable wallet. 

The report reads, 

The core issue at the heart of the BigSpender vulnerability is that vulnerable wallets are not prepared for the option that a transaction might be canceled and implicitly assume it will get confirmed eventually.

As CryptoGlobe reported, ZenGo found that a user’s balance would be increased following an unconfirmed incoming transaction, without a subsequent decrease in the event the transaction being double-spent. The firm outlined how an attacker could use the exploit to cancel transactions of sent bitcoin while still receiving goods and services in return. 

The security firm tested nine popular cryptocurrency wallets and found BRD, Ledger Live and Edge to be vulnerable to the exploit. All three companies were notified by ZenGo of the threat and subsequently updated their products. However, the firm noted that “millions” of crypto users may have been exposed to the attack prior to the update. 

Bitcoin Cash supporter Hayden Otto told Cointelegraph the exploit is particularly concerning for bitcoin-accepting merchants. 

He said, 

The technique is facilitated by RBF (replace by fee), a so-called ‘feature’ added at the protocol level by the Bitcoin Core developers.The issue exists if you use BTC. Wallet software can only make some trade off, which results in a worse BTC user experience, in order to try to protect BTC users.

Otto claimed the exploit was derived from “an issue with BTC itself” and had little to do with wallet software. 

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