Plaintiff: Cryptcracker and the people
Defendant: Bitcointalk.org, Michael Marquardt (Theymos) & staff

Complaint: Michael Marquardt has manufactured and endorsed an unsafe environment on bitcointalk.org that has resulted in many people losing millions of dollars in total as a direct result of Michael Marquardt and other staff actions.

General complaint

Bitcointalk.org is an internet forum centered around bitcoin and other crypto currencies. Bitcointalk.org is one of if not the biggest and most influential bitcoin and crypto currency communication sites in the world, Michael Marquardt and his associates used this fact as an opportunity to take advantage of people. The rise in price of bitcoin resulted in many new people joining the forum that werent to savvy and completely new to the space, once these people joined the forum they were greeted by scams that were even endorsed by some staff members. By even hosting these scams bitcointalk.org was endorsing them and choosing to put their members in danger.

Trendon Shavers (pirateat40) ponzi

One of the biggest scams hosted on bitcointalk.org was that of Trendon Shavers (which went by the name pirateat40 on bitcointalk.org) ponzi scheme. This ponzi scheme was endorsed by bitcointalk.org and resulted in Trendon Shavers controlling over 764,000 bitcoin, at the time worth $4.6 million, at todays prices those coins are worth $353,869,520. Many other highly damaging scams were hosted on bitcointalk.org and if Michael Marquardt stays in control of bitcointalk.org another catastrophic scam will likely be hosted and endorsed by bitcointalk.org.

Reparation

A $20,000,000 settlement from the defendant payable to the plaintiff is required to solve wrongdoing that has been done. Bitcointalk.org may also be placed in the hands of the plaintiff as partial payment if the defendants can not pay the full $20,000,000.

Cryptcracker

Posts

Merits