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a guest May 25th, 2015 496 Never
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  1. OKCoin’s response
  2. Dropbox of files: https://www.dropbox.com/sh/7dudlieancb1tr0/AAA0xmqujCZsvaQ0f_Uf-03Da?dl=0
  3. 1. Operating Bitcoin.com facing a new counterparty The Ripple FinCen findings related to dealing with Roger Ver set off an internal review related to conducting further business with Mr. Roger Ver. OKCoin’s team came to a decision to discontinue facing Mr. Ver on the management of Bitcoin.com for two core reasons. The first being the findings of the Ripple investigation. The second, on further review, the contract was not in good standing as it did not contain the OKCoin legal entity in the contract. It should also be made aware that OKCoin made every effort to continue management of Bitcoin.com facing a different counterpart under a legally binding contract.
  4. 2. Different Versions of the Contract In our review post the Ripple FinCen findings, it was found that v7 (the contract Mr. Ver holds) was not the version of the contract which our finance and accounting department held (v8) digitally and physically. In the past 24 hours, Mr. Ver made public false accusations that CEO Star Xu forged the v8 contract. There was never forgery committed by Star Xu. We would find such forgery to be a serious breach and view the actions of Mr. Ver to assume and claim forgery a seriously misplaced allegation. We will further review every course of action in light of these false accusations by Mr. Ver. OKCoin holds the original v8 hardcopy contract signed by a former employee at OKCoin and this contract was given to our finance department in December 2014. The document is open to any forensic investigation on the date it was signed. OKCoin also has the digital contract sent to our finance department over QQ on December 16th, 2014 by said former employee. We have provided these screenshots. The former employee and Mr. Ver are friends and formerly worked together at Blockchain.info.
  5. Dropbox Exhibit A
  6. 3. Oath from CEO Star Xu: "I have attached the digital communications and attachment of the v8 contract that my former colleague sent via QQ to our accountant on December 16th, 2014. The digital and hardcopy of the original signed contract by the former employee are held internally by our finance and operation teams. If I am found to have forged the v8 contract, I face legal ramifications. I welcome Mr. Ver to hire a forensic investigator to examine the authenticity of the hard copy contract. I can promise God on my family’s name that I did not forge the contract. I wonder if Mr. Ver and my former colleague would dare make the same oath of honesty.”
  7. OKCoin will reward $20,000 USD to anyone with authentication skills confirming that the digital and hardcopy of v8 are genuine and signed from December of 2014 by our former employee.
  8. Those with information can send findings to corporate@okcoin.com
  9. 4. Mr. Roger Ver going public: Mr. Roger Ver first enacted the threat of use of public opinion as a method of pressuring OKCoin into settling on an agreement. Mr. Ver added a reporter Mr. Jon Southurst of Coindesk into the email communications. OKCoin only released a public notice after being contacted by media for comments. It was relayed to OKCoin that Mr. Roger Ver had contacted them to release openly the private communications. We are regretful that this has become a public matter due to the tactics Mr. Ver used.
  10. Dropbox Exhibit B
  11. 5. Mr. Roger Ver’s accusations of intent to money launder: Mr. Roger Ver falsely accused OKCoin of intending to money launder when it is shown in multiple correspondence that a new contract and new counterpart to receive funds were required for continued management of Bitcoin.com. Mr. Ver has repeatedly shown to be quick to bully and make false allegations in his business dealings. No payment was ever made, attempted, nor intended to a counterparty other than Mr. Ver in the course of OKCoin’s management of Bitcoin.com
  12. Dropbox Exhibit C
  13. 6. OKCoin’s bitcoin.com contained no ads: Everyone is free to view the Bitcoin.com that was created and used by OKCoin here in the Web Archives: https://web.archive.org/web/20150315024642/http://www.bitcoin.com/
  14. There are no OKCoin ads on the Bitcoin.com that we managed. OKCoin paid Mr. Ver $10,000 USD per month and developed and operated the website as agreed upon. We also tried to court interested parties to advertise on the website. Mr. Ver continually threatened to use the one month termination notice clause contained in the contract for failing to generate further revenue. These threats occurred while simultaneously asking and expecting OKCoin to continue in good faith to improve Bitcoin.com despite that overhang. Mr. Ver even suggested to redirect Bitcoin.com to OKCoin or OKLink for an exorbitant sum..
  15. Mr. Ver sought to close the agreement for the full $550,000 USD dollars remaining followed by an attempt to ask for $200,000 or lower. Mr. Ver did not care for the proper management of Bitcoin.com but was rather solely focused on extracting more money from it.
  16. We have provided the sources of these communications.
  17. Dropbox Exhibit D
  18. 7. OKCoin is not insolvent: To our disappointment, this public slander by Mr. Ver included directly speculating that OKCoin is insolvent, under financial duress and may become the next Mt. Gox. These actions show a lack of respect and proper due diligence. Time will prove that OKCoin’s financial health is strong. We are currently executing on several business projects in the fintech space to improve the lives of consumers and businesses. We generate healthy revenues and have received significant venture capital investments. Our customer service is 24/7 and we welcome any user who has funds on OKCoin to test and withdraw funds.
  19. It should be noted that Mr. Ver prior to the Mt. Gox event reported to the public that Mt. Gox had no problems as can be seen in this video. https://www.youtube.com/watch?v=y4SCAw264qM
  20. 8. OKCoin’s commitment to innovation: We would like to apologize to our customers for this distraction and for wasting your time over such a small matter. OKCoin will continue to release better and better products as a leader in financial technology and we would like to thank again our customers and supporters of our company.
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