A chinese investor attack a platform for the exchange after having lost 1.4 million yuan…

An investor unhappy having lost 1.4 million yuan in trading on the platform for the exchange Huobi has decided to take legal action. Here is what justice has finally decided…

A funny story

It is a chinese investor, Tielang Wang, who has decided to take legal action against the platform Huobi. It also wants to invalidate the trade made on the exchange site. It considers that exchanges must be invalidated for the simple reason that the Bitcoin does not exist. It is important to know that the man has still lost more than 1.4 million yuan (182 000 euros approximately. He had deposited this sum on Huobi in October 2016, for the purpose of speculating on the price of Bitcoin. A strategy that has not proven to pay. After having lost a large part of the amount invested, it has decided to end its experience. But the man told to the judges that his life is since very complicated and that it can not handle the financial losses. He asks, therefore, simply an invalidation of these losses. Here is what he said :

“The Bitcoin does not exist, and it is not a legal currency. According to the rules found in marxist thought, a commodity must be associated with a price and a value – the Bitcoin clearly can not be regarded as a commodity. “

Pixabay – CQF_Avocat

The platform for the exchange Huobi is the output of the silence to explain. She says that obviously, the chinese investor did not understand what was actually Bitcoin. The representatives added that the exchanges were not managed by them, but other users. Therefore, the site of exchange is that a third party, and the transactions are quite legal. The company, therefore, believes not to be liable for the losses of Tielang Wang.

A court decision is clear

This is the supreme people’s Court of Haidian district, who has managed this incredible deal. But ultimately, the continuation of the complainant was rejected. In fact, the judges believe that investors are responsible for their financial losses :

“When users send and receive Bitcoins, they are expected to understand fully the risks associated with this activity. They should only invest amounts they can afford to lose, and must assume all responsibilities related to this investment. “

The decision is clear : the platform, Huobi has not violated the law. And this poor Tielang Wang will have to bear the financial losses as a great…

Source : News-Bitcoin