A class-action lawsuit Bitcoin users were organizing against Bitcoin.com and its chief executive officer Roger Ver has recently been called off over the small amount of donations it received, as they weren’t enough to fund the legal battle that would ensue.
The lawsuit, as covered, was being organized over Bitcoin.com’s allegedly deliberately misleading narrative, that could trick new users into buying Bitcoin Cash (BCH) while thinking they were getting Bitcoin (BTC). It initially saw over 1,000 users join a Telegram group chat in which victims were coming forward.
The lawsuit saw Bitcoin.com quickly stop labeling Bitcoin Cash (BCH) as the real Bitcoin. BCH proponents claim it’s closer than BTC to Satoshi Nakamoto’s original vision, despite it being the forked chain. At press time, Bitcoin.com’s pages and apps don’t label BCH as “Bitcoin,” but still label Bitcoin as “Bitcoin Core.”
Twitter user MoneyTrigz, behind the Telegram group’s creation, revealed the project would have to be shut down. As covered, it had recently started asking for donations and seemingly only raised 0.39 BTC ($3,760).
We appreciate the 31 people that donated to the initiative— MoneyTrigz (@moneytrigz) May 3, 2018
But $3700 wont be enough to do much, so we decided to cancel the initiative and refund the 31 transactions (total 0.39btc)
im happy were able to atleast get bitcoincom make 90% changes on its fraude and dis-information pic.twitter.com/EixrrqffD5
The initiative’s website, Bitcoincomlawsuit.info, now states that all 33 donations will be refunded, and that the initiative has been canceled due to a lack of funding. Before canceling the project, MoneyTrigz had revealed one law firm asked for $1 million, and that it was looking at other options. He wrote:
“the first one is no joke, $1m budget, 3yrs litigation, but we are looking around to see which strategies in which juri would be best to pursue. cant give more details then that for now. (…) 2 whales offered $100k donations already but we are still looking into numerous strategies and consulting. we will try to get back to everybody asap.”
At press time, some of the funds have seemingly been refunded, although about $2,600 are still left on the initiative’s Bitcoin wallet. While various Telegram users were unhappy with the decision, some showed they supported it and applauded its success in seeing Bitcoin.com stop labeling BCH “Bitcoin,” a move some believe was tricking newcomers.