John McAfee Prepares Legal Battle With HitBTC: The Full Story
The King of Crypto steps up his conflict with the European-based virtual currency exchange HitBTC today, and announces to his Twitter following that he will be taking legal action against the company.
This uproar began a few weeks ago when the cybersecurity magnate spoke out against overbearing centralized cryptocurrency exchanges. In his post, he specifically targeted HitBTC because the platform restricted the trading of Docademic MCT tokens with high buy-in and withdrawal fees, and did not support MCT airdrops. McAfee is a profound promoter of Docademic (MCT), which is aimed at providing free basic healthcare worldwide and ‘making the world a better place’. In his post, McAfee is concerned that HitBTC’s high fees and limitations surrounding MCT tokens on their platform has,
‘increased suffering for millions of poor people who cannot afford the minimum buy-in’
Finally, McAfee called upon his significant following to ‘boycott’ the company, presumably by withdrawing from their platform.
Later that day, McAfee fired another shot at HitBTC, this time arguing that the exchange has little regard for Docademic’s humanitarian vision and is misaligned with the crypto community. He promised that he would be their ‘worst enemy’ until they resolve this flaw.
When HitBTC eventually responded to these comments, they did not offer any argument against McAfee’s claims. Instead, they chose to backhandedly wish him well, in tune with the recent attempt on his life which left him hospitalised for three days.
In his next post, McAfee pointed to decentralized distributed exchanges as the future, identifying privately owned exchanges as the first domino in the sequence for bringing down “the entire [centralized] system”. He added that HitBTC was ‘the worst’ of these privately owned exchanges.
On July 1, we finally heard HitBTC’s full response to Mcafee’s ongoing concerns about the seventh-largest crypto exchange’s governance.
While HitBTC’s retaliation settled in, Mcafee took to Twitter again to dispel the community’s argument that he is only defending Docademic because of his financial interests in the project.
At this stage, the King of Crypto has expressly mentioned that it is his intention to pursue HitBTC’s service providers in legal proceedings, not the company itself. Already, McAfee has received a huge rally of support for his recent actions against HitBTC, with a flow of comments from followers outlining their unsatisfactory experiences with the exchange and how action against it has been long overdue.