The investor sues the Upbit exchange

A cryptocurrency investor has reportedly filed a lawsuit against the Upbit digital asset exchange in Korea recently. According to his complaint, the exchange has delayed processing for the transfer of its LUNA cryptocurrencies to a Binance wallet. This, before the ecosystem collapses.

A transfer issue on the Upbit cryptocurrency exchange

The Upbit cryptocurrency exchange is operated in South Korea by the company Dunamu Inc. It is the target of a lawsuit by an investor whose name has not yet been revealed. He is suing the company allegedly delayed the transfer of its funds in LUNA before the collapse of this digital asset. This is what the newspaper reports Korean newspaper Joongang.

The investor claims cryptocurrency exchange Upbit didn’t process his loan fast enough. 156 million won transferor $ 112,477. As a result, following the collapse of the LUNA system, he would have lost all that money, due to the exchange. Specifically, it will be the Seoul Central District Court that will evaluate the case. In his he complaint, the investor indicates that he has initiated a transfer of 1310 LUNA tokens on March 24 from his Upbit wallet to a Binance wallet.

MOON worried

The day after the transaction, while the value of MOON had collapsed to approach 0, Binance informed the investor that his coins had been returned to him due to a problem during the transfer. However, the coins were no longer visible in his Upbit wallet. In other words, his funds didn’t show up on his Binance wallet or the wallet he has with Upbit.

The investor’s attorney reports that his client contacted Upbit 27 times in an attempt to find out when his cryptocurrencies would be returned to him. The lawyer added that every time the cryptocurrency exchange guarantees him that the Processing of the transfer was still in progress. However, until the day of the application, the investor has not received anything.

The Upbit cryptocurrency exchange managed by the company Dunamu Inc. is in a delicate position with respect to an investor. The latter has taken legal action against her due to a delay in processing a transaction. The investor has lost a lot of money. At the moment, it is difficult to predict the outcome of this dispute.

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Luc Jose Adjinacou avatar
Luc José Adjinacou

Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.

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