- B2C2, liquity provider, are accusing Quione of wrongfulyl reversing a trade.
- This court case marks the first Bitcoin legal dispute on trial in Singapore.
A Bitcoin case is being brought forward to the International Commercial Court in Singapore. B2C2 are the plaintiffs, an electronic liquidity provider. They are accusing Quione of some form of trade manipulation, wrongfully reversing out their trades.
In terms of details covered by local press, Straits Times, B2C2 had placed seven orders on the date of 19th April 2017, selling ETH for BTC. The transaction rate was set at 10 BTC/ETH, but Quoine reportedly cancelled the trade the following day with B2C2’s approval.
B2C2 are demanding recovery of the 3,085 BTC lost when Quoine executed reversal. The market maker noted that the exchange platform’s actions constituted a ‘breach of trust’ and amounted to an abuse of its role as a trading platform operator.
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