Exclusive: HitBTC Exchange Facing Lawsuit from Bitcoiin (B2G)
The team behind Bitcoiin 2nd Generation (B2G) is in the process of filling a lawsuit against Hit Solution Limited (registered trademark “HitBTC”). Back in April, the B2G team reportedly paid HitBTC 75 bitcoins for listing and other advertising services, including a blog post, twitter announcement, and front page promotion! The listing offer can be seen here:
The Hong Kong exchange is now being accused of failing to honor their part of the agreement. During the course of several months, B2G was never promoted on the front page and, although it was listed, the deposits and withdrawals were never made available. HitBTC eventually blocked all communication with B2G team when B2G team requested the reimbursement of the 75 bitcoins which they paid to HitBTC but never received what they paid for. B2G has sent a crime report to the Honk Kong police and is in the process of filing a lawsuit.
B2G’s legal advisor, Elite Consulting Law Firm, has also come to the conclusion that HitBTC has no real directors, office, or license in Hong Kong. This has led the legal team to conclude that HitBTC has no proper legal set up for its activity and is operating with violation of Hong Kong legislation.
B2G legal team has initiated the legal case in front of the Hong Kong SEC, so now we have to wait to see what will be the outcome of this lawsuit, but it is obvious that HitBTC is doing a foul play and that regulators will have a full hands of work concerning this Hong Kong based cryptocurrency exchange.