CoinEx Issues Statement on Bitcoin Cash Forking – Dr. Craig Wright Dismisses as “Fraud”

It has been a frenzy few days for Bitcoin Cash (BCH) and its followers. In the pipeline, several important events have taken place. Bitcoin ABC announced a November hard fork on August 2, and Bitcoin SV responded with a version of their own on the 15th, and then a consensus meeting took place in Bangkok on the 29th to figure out a way forward among miners and developers alike. During continuation of the meeting, Bitcoin SV also released their aplha version for miners to look at the proposed changes and code structure for Bitcoin SV proposal.

In another interesting turn of events today, CoinEx, a global digital currency exchange, has made an announcement on the alleged Bitcoin Cash Forking into Bitcoin SV (BSV).

The digital exchange, posted a statement, which claimed that Bitcoin SV is an altered version of the BCH protocols and is likely to bring a potential BCH fork by causing an incompatibility with Bitcoin Cash Network and therefore, creating a new cryptocurrency asset, the Bitcoin-SV (BSV).

CoinEx dismissed recognizing BSV as a cryptocurrency for deposits and withdrawals till the currency is stabilized and its supporting wallet is available. It continued into proposing ‘cautionary’ measures by saying,

As a responsible cryptocurrency trading platform who guarantees maximum protection for customer assets, we decide to make precautions for a potential fork.

CoinEx also demanded for the Replay Protection Mechanism to be introduced into BSV and urged the developers to add mechanism to avoid unnecessary loss.

Dr. Craig Wright Reacts

Since CoinEx posted their announcement, Dr. Craig Wright, founder of nChain and spearhead of Bitcoin SV has been rapturous on Twitter, deeming CoinEx as ”fraud” and urging users to ignore it.

He further criticized the announcement by CoinEx and suggested that following suit with it will result in the user going bankrupt. He claims that SV is the original Bitcoin version, as its name suggests ‘Satoshi Version’.

He also reported that there will be no Bitcoin Cash split, and that Bitcoin SV will not be a separate fork that eventually becomes a separate cryptocurrency.

Talking to BlockPublisher about whether other digital exchanges might follow CoinEx in developing an anti-narrative against Bitcoin SV, Dr. Wright dismissed the idea that if they do, he proposed a simple solution to reject them altogether, “then, do not use them.”

He maintains that he is not concerned and remains positive about SV’s prospects. When asked if he was worried regarding the fold of events, he had a bullish response for everyone to go bankrupt, if they tried and altered Bitcoin. He said,


Razi Khan

Researcher, Electrical Engineer and a teacher, Razi is one who takes great intrigue in the prospects of blockchain and cryptocurrencies (BTC in particular) while contributing a critical approach over the subject regularly. Contact the editor at editor.news@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.