Bitcoin investor sues Hong Kong firm over alleged contract breaches
One of the digital currency’s earliest adopters Roger Ver claims local company owes 57 months of revenue payments
A well-known digital currency investor is suing a Hong Kong website operator for some US$570,000 (HK$4.4 million) over an alleged breach of agreement, court documents state.
In a writ filed to Hong Kong’s High Court on Wednesday, Roger Keith Ver, registrant and administrator of the domain name bitcoin.com, claimed OKEX Fintech Company, which provided online services for local and international bitcoin trading, had broken their contractual obligations.
Ver stated that he entered into a contract with OKEX on December 15, 2014 , in which the local firm agreed to manage and operate bitcoin.com on Ver’s behalf through the domain name Okcoin.com.
OKEX’s services included redesigning the bitcoin.com website, performing search engine optimisation and acquiring advertisers.
Ver claimed the agreement dictated that both parties would cooperate for a minimum of five years and would split revenues. However, he stated the online service company refused to pay the monthly sums just three months into the contract.