Coinberry filed lawsuit to reclaim bitcoin lost during 2020 software glitch: Financial Post

Canadian cryptocurrency marketplace Coinberry claims it lost $3 million in bitcoin due to a software glitch and is seeking to reclaim the money back from customers, according to a report in the Financial Post on Thursday.

The Financial Post says the WonderFi-owned company filed a lawsuit in June that targets 50 customers, along with crypto exchange Binance due to the fact some people transferred the funds to that platform. It wasn’t clear from the report if the claim is valued in US dollars or Canadian dollars. 

The complaint stems from 2020 when Chinaberry underwent a software upgrade that allowed users to purchase bitcoin with Canadian dollars that were not yet in their accounts.

Users were able to initiate electronic transfers, credit their Coinberry accounts, buy bitcoin and transfer the funds out before canceling the original transfer and thereby obtaining free bitcoin.

Coinberry is not the only platform to lose money due to software glitches and errors. Coinbase was also faced with a similar issue earlier this month in Georgia, where traders were able to take advantage of a misplaced decimal point in trading pairs using the Georgian currency.

Coinberry didn’t immediately respond to a request for comment from The Block. The Post said Coinberry declined to comment through WonderFi.

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