John McAfee Prepares Legal Action Against Crypto Exchange HitBTC

Francisco Memoria

Cybersecurity pioneer and crypto fanatic John McAfee has recently revealed he and his team are “preparing a legal complaint” against popular cryptocurrency exchange HitBTC and its service providers, as the exchange failed to respond to him when he reached out.

As CryptoGlobe covered, McAfee launched a campaign against HitBTC late last month, seemingly because of its withdrawal fees on Docademic (MTC), a crypto project that reportedly offers users free health care services.

According to the cybersecurity expert, HitBTC hasn’t done anything to help people “access the only free healthcare in the world,” and is responsible for costing people in the cryptocurrency community money and is liable for the “death of untold people.”

Notably HitBTC replied to McAfee justifying that its withdrawal fees were high because it pays the Ethereum required to send transactions through the network, instead of forcing users to have ETH on their accounts to pay the fees. To cover the ETH fees, HitBTC claims to raise withdrawal fees in the token being withdrawn.

It notes that McAfee’s input would be welcomed while in search for a solution, and asks the cybersecurity pioneer if he has an “algorithmic solution” that could help out. One of the solutions the exchange proposed involves actively monitor token prices so it won’t overcharge users.

Replying to HitBTC, McAfee threatened to fund a $20 million lawsuit that could bring the company down.

McAfee claims to have written 11-12 messages to the cryptocurrency exchange, and only receive one reply in the end. It’s worth noting that after McAfee was spiked and left for dead and launched his campaign, the cryptocurrency exchange reached out.

HitBTC Controversy 

HitBTC is notably an incredibly controversial company in the community, as various users complain that it is selectively scamming community members, by locking the funds of only a few which are then seen as outliers. A Reddit user recently alleged the company was holding his funds hostage, despite his submission of proof of ID.

The exchange recently barred Japanese users from its platform, as it is set to launch a licensed subsidiary in the country later this year.

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Libra Association Member Bison Trails Adds Support for Ontology Nodes

  • Libra Association member Bison Trails is integrating support for Ontology's Triones Node infrastructure.
  • New partnership will allow for seamless deployment of Ontology nodes for enterprise companies.  

Bison Trails, a member of the Libra Association, has announced support for ontology nodes to their platform. 

According to the press release shared with CryptoGlobe, Bison Trails is integrating the Triones Node infrastructure to their platform, which will allow for seamless deployment of Ontology nodes for enterprise companies. 

Ontology, a high-performance public blockchain and trust collaboration platform, is targeting the needs of enterprises new to the industry of blockchain. The partnership with Bison Trails will allow for “interchain communication” and “flexible” exchanges across businesses. 

Joe Lallouz, CEO of Bison Trails said of the new partnership, 

The future of enterprise blockchain involves enabling businesses that help drive transactions to easily participate in both the security and profitability of the chain they’ve chosen. The Bison Trails and Ontology partnership puts in place the foundation to catalyze adoption of the technology.

The Ontology network currently has 49 Triones and 11 consensus node members spread across the globe. The partnership with Bison Trails will “further decentralize” node management and streamline node initiation for Ontology users. 

Ontology founder Li Jun explained the community’s outlook, 

Unlike many other ‘post Bitcoin’ blockchains, Ontology has been focused on enterprise and real-world deployment from day one, successfully launching mainnet back in 2018.

He continued, 

Ontology is focused on providing value by enabling global businesses to collaborate in a secure trusted fashion faster and with fewer costs than ever before.

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