Bitstamp and Gatehub to settle $4.9 million dispute with Canadian investor Salim Satir

The cryptocurrency exchange Bitstamp and the Gatehub platform will discuss settlement options for a dispute with Canadian investor Salim Satir, according to Law360.

In April, the user filed a $4.9 million suit against the companies. He accused Gatehub of posting inaccurate data regarding the specifics of exchanging Ripple (XRP) for Bitcoin, and Bitstamp of withholding his tokens after the Bitcoin Cash hard fork.

According to the investor, from December 2017 into January 2018, a technical outage at Gatehub prevented him from withdrawing funds. In that period, the price of Bitcoin fell by $2,992.

Gatehub’s defense asserted that Satir had only used free wallet access in the Ripple registry and did not understand the service’s specifics. The platform also rejected the plaintiff’s claims that he could not move tokens during the outage.

Earlier in October, Moscow resident Dmitry Dolgov accused HDR Global Trading Limited, the founders of the BitMEX exchange—Arthur Hayes, Ben Delo, Samuel Reed—and others of money laundering and market manipulation.

According to the plaintiff, their actions caused him substantial damage.

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