COINBASE CUSTOMERS COULD INSTIGATE CLASS ACTION LAWSUIT OVER BITCOIN CASH

The bitcoin hard fork went off without a hitch, creating bitcoin’s new alter ego, bitcoin cash. Immediately following yesterday’s fork, individuals who protected their private keys gained access to bitcoin cash.
However, those who stored their coins on an exchange, left that decision to the exchange. This caused tensions to flare between Coinbase and their customers. They are now angrily requesting their share of bitcoin cash from the company.
Even though Coinbase said they will not support bitcoin cash, their customers still believe they are entitled to it. They have been posting angry and accusatory messages on Coinbase forums.

One legal scholar, Tim Wu, pointed out that Coinbase could be in serious legal trouble if they do not hand over the bitcoin cash. He tweeted, “In my opinion, @coinbase is courting serious, maybe ruinous legal trouble if it doesn’t give its users the full value of the Bitcoin fork.” He also analogized the situation to a brokerage firm not giving stock splits to their customers.

Wu believes that even Coinbase’s terms of service agreement will not save them. He implies they are obligated to do the right thing and hand over the bitcoin cash.