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23 April 2021

High Profile Crypto Execs Dodge Bitcoin Cash 'Hijack' Lawsuit - Decrypt

High Profile Crypto Execs Dodge Bitcoin Cash 'Hijack' Lawsuit - Decrypt


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During the Bitcoin SV hard fork—an event when a network splits in two separate chains—the defendants allegedly "hijacked" the Bitcoin Cash network and “violated all accepted standards and protocols associated with Bitcoin since its inception.”.

“On November 16, 2018, the day after the upgrade, those same mining pools were awarded 98.85% of the blocks on the Bitcoin Cash network.”.

Additionally, the defendants’ actions allegedly influenced the market prices of Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin SV (BSV), as well forced UAC out of the network after the Miami-based company invested over $4 million in its infrastructure.

Bitcoin Cash emerged in August 2017 as a hard fork of the original Bitcoin blockchain after a group of developers backed by a number of large companies, mining pool operators, and individual investors responded to calls to increase the block size from 1MB to 8MB

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