TDT | Manama The Daily Tribune – www.newsofbahrain.com An apparently illogical scheme to create a digital currency and put it on a cryptocurrency exchange has two brothers at odds, with one suing the other for breach of trust and requesting 500 million cryptocurrency units
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
An apparently illogical scheme to create a digital currency and put it on a cryptocurrency exchange has two brothers at odds, with one suing the other for breach of trust and requesting 500 million cryptocurrency units as compensation. According to the High Civil Court, one of the brothers involved in the lengthy court struggle is a well-known media figure in Bahrain. The lawsuit has been in court for nearly a year. According to the plaintiff, who claims to be a founder member, his brother committed to pay him 500 million units of bitcoin or their equal value in US dollars after mining the cryptocurrencies and their subsequent debut.
As a result, the defendants reportedly built a wallet on a site for trading digital currencies and registered it in the plaintiff's name. The plaintiff claimed he also revealed the wallet's secret password to the defendant, who was meant to transfer the promised cash, but this did not occur. However, the defendant's counsel informed the court that these statements were based only on assumptions and estimates and lacked specific proof. The lawyer also stated in court that his client was taken aback by the "unscrupulous" allegations.
The plaintiff claimed he also revealed the wallet's secret password to the defendant, who was meant to transfer the promised cash, but this did not occur. However, the defendant's counsel informed the court that these statements were based only on assumptions and estimates and lacked specific proof. The lawyer also stated in court that his client was taken aback by the "unscrupulous" allegations.
