By Caroline Simson (July 11, 2022, 8:11 PM EDT) -- CoinFLEX has initiated arbitration in Hong Kong against a "large individual customer" believed to be prominent bitcoin investor Roger Ver, seeking to recover $84 million in losses that have prevented the cryptocurrency exchange from authorizing withdrawals for nearly three weeks.
CoinFLEX announced the move in a blog post Saturday. Although the exchange did not identify Ver by name, CoinFLEX CEO Mark Lamb had called out Ver on Twitter last month.
"We have commenced arbitration in [the Hong Kong International Arbitration Centre] for the recovery of this $84m as the individual had a legal obligation under the agreement to pay and has...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!