Class Action Complaint Filed Against Bitcoin Exchange Coinbase: Claims 'Insider Trading'

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Guest
Published on:
Mar/04/2018

A class action lawsuit was filed against Coinbase this past Thursday on March 1 accusing the exchange of ‘insider trading’ for the bitcoin cash launch last December. The complaint filed by the plaintiff is demanding a jury trial for losses incurred on behalf of himself and the other customers involved.  Scroll Down For More

The 18-page lawsuit filing accuses the exchange of tipping employees a month prior to the official launch of bitcoin cash (BCH) on December 19, 2017.

An individual named Jeffrey Berk and others similarly situated have filed the class action.

According to Berk’s complaint, he says that customers who placed purchase, sale or trade orders on the BCH launch date suffered monetary losses due to alleged company employees tipping people off well before the release date.  

“On December 19, 2017, a month after tipping off its own employees as to when it would commence fully supporting BCH, Coinbase suddenly announced that it was opening up its books to the buying and selling of BCH within minutes after its announcements,” explains the class action lawsuit.

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