Thursday, May 2, 2019

Vanbex Claims Its Innocence in Crypto Fraud Charge

Vanbex – a cryptocurrency and blockchain technology firm – is filing a libel suit against a former contractor who claims that the company is responsible for cryptocurrency fraud.

Vanbex Is Heading to Court

This lawsuit stems from a previous suit filed against the company earlier this year by the British Colombia Civil Forfeiture Office. Allegedly, they had caught wind from the contractor that its cryptocurrency offerings were fraudulent.

The former employee’s name is Kip Warner. According to an official statement released by Vanbex, Warner:

…Published and made false and defamatory statements to an associate of his in the Vancouver Police Department as well as the RCMP maliciously knowing that they were false or, alternatively, with reckless indifference to whether they were true or false, and for the main purpose of harming Kevin Hobbs, Lisa Cheng and their company Vanbex.

Cryptocurrency fraud has been running rampant as of late. This is a subject that Live Bitcoin News has covered several times in just the past few weeks alone. Among those stories involved a couple (a man from Arizona and a woman from Israel) being charged with crypto fraud in Manhattan. Another story involved two men in Israel and one’s theft of the other’s 75,000 Dash units, worth anywhere between $6 million and $9 million at the time of writing.

Despite consistently drawing traders and attention, the cryptocurrency arena is still a heavy haven for crypto thieves and other malicious individuals.

Only this time, the allegedly offending party is claiming innocence and fighting back against the accusations. Vanbex says that Warner is a “disgruntled former independent contractor” and a “conspiracy theorist” who back in 2011, sent letters to the government claiming that the 9/11 terror attacks that occurred ten years prior were the actions of “Rothschild banksters.”

Vanbex claimed that Warner was a software engineer who was hired to provide a service that “was never delivered.” The company states that roughly two years ago, Warner sent a letter to Vancouver police in Canada saying that the company (Vanbex) he’d been working with “is just a mechanism for laundering drug money or some other nefarious purpose.”The company further states that the information he provided to the police was information he knew was false, and that his words have caused “reputational harm” to the founders.

We Did Nothing Wrong

Hobbs and Cheng proclaim their innocence and say they will fight the allegations with everything they have:

We will defend our business and the right to do business. Our company is entirely lawful. We have acted properly. This is an insult to our 26 employees and their hard work… Vanbex is far from a shell company. We are a legitimate consulting and development business in the cryptocurrency field, which is completely legal. We have never misappropriated funds.

The post Vanbex Claims Its Innocence in Crypto Fraud Charge appeared first on Live Bitcoin News.



Vanbex Claims Its Innocence in Crypto Fraud Charge

Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.


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