Crypto Exchange CoinFLEX Says Investor Owes $84M

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...

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