As we mentioned in our previous Syscoin articles, the legal battle with SYS and Ryan Kennedy/Moopay LTD is far from over. Some progress is being made however, and the Syscoin team has received the green light to publish a copy of their legal documentation. Let’s take a closer look at how this case is going so far.
The reason why this information has only been made public now is because the UK legal process is very strict, and it is better to err on the side of caution in such matters. By making every bit of information public, all of those details will also be read by Ryan Kennedy in some way, shape or form, which means the Syscoin team has to tread with extreme caution.
So far, the SYS team are the first and only ones to legally act in regards to the missing Bitcoin. By that, we mean not just the 750 Bitcoin owed by Moopay LTD, but the entire amount missing from several balances combined, which is over 4,000 Bitcoin in total. Do keep in mind Syscoin’s case is focusing on retrieving their share of the money, but it does set a precedent for any other involved parties to take legal action against Ryan Kennedy/Moopay LTD as well.
As you would come to expect, this legal battle is taking up a lot of time and resources that would have been spent on further developing Syscoin , as well as general communication otherwise. However, for the benefit of the greater good (the entire cryptocurrency community that is), this legal battle is of critical priority until the matter has been resolved.
The information made public by Syscoin in their case against Ryan Kennedy/Moopay LTD has been cleared by the solicitors in order to make sure it would not harm or affect their case in any way. More information will be released once verified it will not damage the incredibly solid case against Moopay LTD and Ryan Kennedy.
“After negotiation, the injunction stood for the most part, some amendments were made in terms of disclosing ALL wallet addresses which Ryan controls and hard drives of the servers this bug allegedly affected which made all the bitcoin vanish. We are now waiting for fulfillment of that order.
The injunction will service to protect our bitcoin (and anyone else’s) that Ryan may control while we pursue full proceeding against him and Moopay LTD/Moolah. The Claim Number in the High Court of Justice, Queens Bench Division is: HQ14X04481.“
“Syscoin is just one little corner in the rapidly growing crypto-currency landscape, but our case impacts everyone within it. Our case will set important legal precedents which will affect future cases. It will also send a clear message to would-be bad actors that their activities will not be tolerated and that they will be called to court to answer for their actions. Far too many of us have lost far too much bitcoin by trusting people who promised to be responsible with our wealth but instead chose to enrich themselves by scamming from their customers. The personal hardship and financial losses they cause are hard to quantify. We don’t think it has to stay like this.”