26 Jun 2018 Anthony Lehrman
HitBTC Enlists KaratGold Coin and Faces a Lawsuit
KaratBars International has been pleased to officially announce the enlistment of their gold-based currency (KBC) on HitBTC exchange at the beginning of April 2018.
KBC is a game changer in the cryptocurrency world. It represents a cryptonized gold that may be transferred across borders in real-time, securely and cost-efficiently.
The recently completed ICO has become one of the most successful campaigns ever that raised over $100 million.
Enlistment on the HitBTC exchange is a significant step forward for the cryptocurrency. Because it is related to 24-carat gold, its value is about to grow tremendously as KaratGold is entirely immune from any market swings and fluctuations that are typical for a regular currency.
A lawsuit was filed against HitBTC in a Hong Kong court by Karma Group. It appears that the legal charges facing the exchange are due to inability to sustain its share of the mutual agreement between the two parties.
HitBTC has received the payment of 527.01 ETH or about 250,000 USD in the exchange of services which have not been provided. The package includes the listing of two trading pairs (ETH and BTC), a blockchain implementation for Karma Group and an additional trading pair (USDT).
Karma Group has made the case public and states that HitBTC failed to deliver the mentioned services by the deadline of April 20th, 2018. A representative from the Group required technical assistance from the exchange, but it was denied.
Post-deadline, HitBTC ceased all communications with Karma Group and further refuses to pay the refund. No proper reply regarding the matter has come from the exchange up until now.