The Singapore international commercial court started hearing the case between the liquidity provider and B2C2 cryptocurrency exchange Quoine. About it reports the local edition of the Straits Times.
Representatives B2C2 accused Quoine improper cancel seven warrants exchange of bitcoin in the air. According to them, Quoine violated the bilateral agreement.
B2C2 is going to recover from 3085 Quoine bitcoin. At the time of the transaction in April 2017 bitcoins, which requires B2C2, cost $3.7 million To date at the weighted average rate, the figure is $13 million.
In turn, the lawyers Quoine refer to the contract provision under which the exchange has the right to cancel any transaction, “held at an aberrant price.”
“10 BTC for 1 ETH is 125 times higher than the average price in the market, this purchase was only possible due to a system error in the Quoine, therefore, the seller suffered a loss from such transaction and canceled it,” — said in July last year, representatives of the exchange Quoine.
It is expected that the court will make the final decision on the case next week.
We will remind, in November, the Ontario court of justice refused to return the bitcoin exchange QuadrigaCX $20 million from her Bank accounts.