Canadian Crypto Exchange Sues Users for Return of Bitcoin Misappropriated During Software Glitch – According to reports, the Canadian cryptocurrency exchange Coinberry has filed a lawsuit against its users who acquired bitcoin for free by exploiting a software glitch. The owner of Coinberry, a licensed cryptocurrency trading platform, is Wonderfi Technologies Inc., a Vancouver-based company backed by Shark Tank star Kevin O’Leary.
The lawsuit, which was submitted in Ontario in June, claims that Coinberry accidentally let users purchase BTC in 2020 using Canadian dollars that had not been properly transferred to their accounts. Customers could start an Interac e-transfer during the software error, get the money credited to their Coinberry accounts, buy Bitcoin, move the coins out, and then cancel the initial e-transfer, according to the exchange. They managed to keep their money while obtaining bitcoin for nothing.
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Before the software issue was addressed, 546 individuals were able to obtain a total of around 120 bitcoins without having to pay for them, according to Coinberry. According to the lawsuit, Coinberry emailed each of the 546 affected registered users and sought the recovery of the 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.
The Canadian exchange added that “Coinberry also immediately contacted Binance” after some customers transferred their illicitly acquired bitcoin to Binance. According to the lawsuit, Binance acknowledged that it had discovered a significant amount of the BTC and committed to limiting access to the accounts.
According to the Canadian cryptocurrency trading site, it has not yet been able to recover two-thirds of the lost Bitcoin from hundreds of consumers. 50 consumers are being sued for the return of 63 bitcoins, including the 9.48 BTC they sent to Binance.
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According to Coinberry, the list of those who have taken and not yet returned amounts under $5,000, as valued in May 2020, is not included in the list of misappropriated bitcoins submitted in the case. The company added that two accounts with the names Jordan Steifuk and Connor Heffernan, who the Canadian cryptocurrency exchange claimed are actually the same individual, stole $385,722.31 in total and did not return it.
