Winklevoss twins once again jumped into the affairs of cryptocurrency realm. But, this time they are not here to reveal their achievements.
Winklevoss twins have acknowledged the report by New York Times that the sued crypto investor and an ex-convict Charles Shrem , is alleged of stealing 5,000 bitcoins in 2012.
Current worth of 5,000 bitcoins is roughly around $32 billion. The twin brothers elaborated that the Winklevoss Capital Fund spent $250,000 in 2012 to buy bitcoins from Shrem BitInstant. But, the Winklevoss Capital received Bitcoins of worth $189,000 only. The amount difference is huge.
Cameron Winklevoss quoted the lawsuit that was incited against Shrem for selling bitcoins to Road Drug buyers.
It is further reported that, in the previous year, Shrem bought a Florida house of worth $2 million, two power boats and two Maserati. According to the lawsuit, he made these purchases with the amount from stolen bitcoins. The lawsuit further emphasized that Shrem did not stand by the terms of services of the cryptocurrency business. However, Shrem’s post-prison acts did not make to the limelight or got any hype until now.
The investigator supported the twin’s case after validating the proofs against Shrem. Further, the investigation results revealed that 5,000 bitcoins were transferred to a bitcoin wallet that belonged to Shrem.
Shrem’s attorney has strongly denied all the allegations stated in the lawsuit. He claimed that “nothing could be further from the truth.” He said that Shrem would “vigorously” defend himself in this matter.
Both the parties are firm and expecting the lawsuit decision in their favor. However, the twin brothers Winklevoss seem to be more confident than the opponent party. Winklevoss’s proofs and strong arguments have frozen some of the Shrem’s funds. Also, they are determined to provide solid proofs against Shrem in the future proceedings too.
What do you think, will Bitcoins retain its position in the market? Share your views and stay tuned for more updates!
Fazeel Ashraf
Jazib Zaman
