Key takeaways:
- “Bitcoin Jesus” Roger Ver initiated a lawsuit against a Matrixport subsidiary for $8 million about a year ago.
- The details of this one-year-old case have recently been made public following Roger Ver’s disclosure.
In the world of cryptocurrencies, a contentious legal dispute has emerged, pitting two prominent figures, Roger Ver and Jihan Wu, against each other. At the heart of the matter is an $8 million sum that ‘Bitcoin Jesus‘ Ver alleges Wu took as a form of retaliation.
What adds complexity to this legal battle is Ver’s alleged involvement in the collapse of another cryptocurrency exchange, CoinFLEX.
Last year, Roger Ver initiated legal action in Seychelles, with the primary target being Matrixport’s subsidiary, Smart Vega, which operates Bit.com. Ver’s legal team, in a lawsuit filed in Seychelles in 2022, claims that Bit.com, a cryptocurrency exchange owned by Matrixport, has been withholding his $8 million withdrawal.
Wu, who is a creditor of CoinFLEX, reportedly suffered financial losses when the exchange went through a restructuring process.
According to court documents, “CoinFLEX’s insolvency lies at the heart of the reason Wu ordered Matrixport to convert my funds. CoinFLEX’s insolvency has nothing to do with the sums Matrixport owed to me.”
Ver’s lawsuit against Smart Vega Holding Limited, a Matrixport subsidiary, alleges that he was unable to withdraw $8 million from Bit.com during a time when the cryptocurrency industry was grappling with a credit crunch.
Ver claims that his request to withdraw $8 million from Bit.com in June 2022 was obstructed by Wu. Jihan Wu, who is also a co-founder of Bitmain, explicitly attributed this obstruction to Ver’s perceived responsibility for his personal losses at CoinFLEX – another cryptocurrency business that had filed for bankruptcy and is currently the subject of a dispute involving Ver.
This legal battle between Roger Ver and Jihan Wu continues to unfold, shedding light on the intricate complexities and controversies within the cryptocurrency world.
In his legal filing, Ver not only sought the compulsory liquidation of the company but also alleged that the firm was relinquishing funds for the personal benefit of Jihan Wu. To support his claims, Ver presented a Telegram chat as evidence, in which Wu stated, “My position is very simple. I am a creditor of CoinFlex, and CoinFlex is a creditor of yours. You just send your USDC back to CoinFlex to repay the debt there, and CoinFlex will release the $5 million USDC to me.”
In contrast, a representative from Matrixport presented a divergent perspective on the matter. According to their account, Ver had breached contractual obligations at Bit.com, and this breach was subject to a penalty fee. They maintained that Ver had the freedom to withdraw his funds but had instead raised concerns about the penalties associated with such a withdrawal.
