Founder of failed BC cryptocurrency exchange ordered to pay $535K for broken bitcoin contract

According to a B.C.

Nelson, a Vancouver technology entrepreneur, sued Gokturk for breach of contract in 2019, asking for either the amount the bitcoin was worth on the open market on Feb.

In coming to a decision, Justice Sheila Tucker found Gokturk had breached a contract that concluded on June 7, 2019, when he sent Nelson a text reading: “BTC received! Thank you.

The judgment comes a year and a half after accountants estimated that the Einstein Exchange had “hard” assets of $30,000 in cash and less than $15,000 in cryptocurrency when the court appointed an interim receiver to take control of the company on Nov.

In the past year alone, bitcoin has risen from around $13,000 Cdn per unit to highs of nearly $80,000.

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