Canadian Crypto Exchange Sues Users for Return of Bitcoin Misappropriated During Software Glitch – Exchanges Bitcoin News

Canadian crypto exchange Coinberry, part of Kevin O’Leary’s Wonderfi, has sued 50 customers for the return of the bitcoin they obtained without paying during a software glitch. “Coinberry contacted all of the said 546 affected registered users by email and demanded the return of the misappropriated bitcoins,” the lawsuit details.

Coinberry offers Bitcoin back to its users

Coinberry, the Canadian cryptocurrency exchange, has sued customers who used its software flaw and got bitcoin without spending.

Coinberry, a regulated crypto trading platform, is owned by Vancouver-based Wonderfi Technologies Inc., a company backed by Shark Tank star Kevin O’Leary.

In June of this year, the Ontario lawsuit alleged that Coinberry allowed users to buy Bitcoin with Canadian dollars during an upgrade in 2020. However, their Canadian accounts were not properly transferred.

It was explained that customers were able to initiate an Interac electronic transfer, have the funds credited to Coinberry accounts and buy BTC. Customers could also withdraw the bitcoins from the account, cancel the original interac etransfer, or request a new one. They were able to keep their money and get bitcoin free of charge by doing this.

Coinberry claims that 546 people were able acquire an aggregate of 120 bitcoins without having to pay for the software. According to the lawsuit:

Coinberry sent an email to 546 of these users, asking for the return of their stolen bitcoins.

“Coinberry was able to secure the return of approximately 37 of the misappropriated bitcoins from 270 of the affected registered users,” the lawsuit continues.

Some customers transferred their ill-gotten bitcoin to Binance, the Canadian exchange further noted, adding: “Coinberry also immediately contacted Binance.” The lawsuit detailed:

Binance confirmed that it had discovered a significant amount of BTC misappropriated and agreed to block access.

Canadian crypto trading platform, stated it had yet to recover the two-thirds lost BTC from its customers.

This lawsuit is seeking the return of 63 Bitcoins, from 50 customers. It also includes 9.48 BTC which were transferred to Binance. Coinberry stated that its lawsuit doesn’t include anyone who has taken or not returned less than $5,000 as of May 2020.

Additionally, it was noted by the company that the biggest amount of money misappropriated but not returned was $385722.31 from two accounts with the names Jordan Steifuk or Connor Heffernan. The Canadian crypto exchange claimed they were actually one person.

This story contains tags
Binance, Coinberry. Coinberry stole bitcoins. Coinberry sues customers. Coinberry sues employees. Free Bitcoin. Kevin O’Leary. Misappropriated bitcoin. Stolen Bitcoins. Wonderfi.

Customers should refund Coinberry the BTC that they received for no cost during the software bug? Comment below to let us know your thoughts.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.

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