Did you buy Bitcoin Satoshi Vision? You may be owed compensation

A £9.9bn lawsuit claims four major cryptocurrency exchanges caused thousands of consumers to lose money they invested.

A lawsuit has been filed by Lord Currie of Marylebone against four major cryptocurrency exchanges – Binance, Kraken, Bittylicious and ShapeShift – on behalf of UK consumers. The exchanges colluded, via a series of tweets, and delisted Bitcoin Satoshi Vision (BSV) in April 2019.

This resulted in artificially driving down the value of BSV, causing loss to holders of and investors in the coin. Following the delisting, the Binance and Kraken exchanges also seized some users’ BSV coins, meaning those users lost access to their coins. Sign up to Consumer Voice to stay updated.

Are you entitled to money back?

You could be one of the estimated 242,000 people owed money if you:

  • Owned Bitcoin Satoshi Vision (BSV) on 11 April 2019, and this includes those that sold or lost access to their coins at a later date

The crypto claim 

Lord Currie, a former chair of the UK competition regulator, the Competition and Markets Authority is seeking approval to represent the consumers who may have been ripped off. Lord Currie accused these four major companies of breaking the law, causing investors in this cryptocurrency to lose money

Lord Currie has instructed the law firm Velitor Law, to represent him in the consumer collective claim to seek compensation for those people who lost out. This legal action is funded by Softwhale Holdings Limited, so win or lose they cover all the costs of the case. 

How to claim compensation

This is an ‘opt-out’ collective claim, meaning you are automatically eligible for compensation if you bought and owned BSV on 11 April 2019. Sign up to Consumer Voice to stay updated and to find out when you can claim.

We will keep you updated on the latest developments in the Bitcoin SV claim and other group consumer claims.

What’s happening with this claim?

The case was filed at the ​​Competition Appeal Tribunal in July 2022 but it took until May 2023 to formally serve the claim on all of the defendants because some are based outside of England and Wales. The certification hearing is scheduled for 5 June 2024.

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