Hi, Let me give a brief introduction to Crypto Currency. Crypto Currencies are digital cash system that is maintained by only people and no government or any entity can influence the cash system. On August 1st 2017, I bought 2.22 bitcoins from the Unocoin company. They added those bitcoins to my wallet. Wallet is similar to a concept of a purse where we store the digital cash. On August 1st 2017, there was a bitcoin fork. https://www.quora.com/What-is-a-Bitcoin-fork Think of a hundreds of people walking down a road and the road comes to a fork, some people may decide that they do not want to follow the traditional direction of the masses and take the other route - as they believe it to be better. This would split the crowd and others may follow. In terms of cryptocurrency the minority of followers would create a new coin (think of Bitcoin Gold, Bitcoin Cash). This fork resulted in creation of new coin named Bitcoin cash. Now, back to the problem. After this fork, Unocoin announced that they will support the fork and will distribute all the bitcoin cash tokens to the customers before 28th of August. https://blog.unocoin.com/our-revised-stance-and-you-can-now-have-your-bch-bitcoin-cash-f4d1a5ca213b This was announced but I didnt get any notification or an email that they will distribute the tokens to me. Recently I checked the blog and got to know that they are distributing the customers bitcoin cash tokens, seeing this, I created a support ticket to ask them about this. Megha MN "Unocoin"<[deleted]> Hello, We would like to inform you that we initially took the stance that we will not be supporting the BCH hardfork. But due to various dynamics, we had to consider the revised stance as mentioned in our recent news article and we had also explained the procedure to claim the BCH. We have now completed the distribution of BCH to the users who have submitted their BCH address with-in 28th August 2017. There are still some of the unclaimed BCH that is left with Unocoin. We have converted the same to BTC and are using it to subsidise the transaction fee for the out going BTC transactions at Unocoin. Technically, the regular one input and two output multi-sig transaction cost about 0.0007 to 0.0010 BTC to be paid to the miners who secures your transaction on the blockchain but were collecting only 0.0005 BTC from our customers. The BTC that are obtained through unclaimed BCH will be utilize to subsidize the mining fee further to 0.0004 BTC for the foreseeable future. Regards Support Team First of all, The blockchain is decentralized server where there is no central server maintained by anyone. You dont have to maintain any manpower or server. The bitcoin cash claim was not informed to me and now they are using it to benefit their cause. I want to pursue this seriously as they have scammedme.
Hello,
RBI and the finance ministry have again and again notified that one should remain away from crypto currencies in India since the same does not have any legal backing. I am afraid but at this stage you can not take any action against anyone since there is no law with regards to the same.
However, if you have address and details of UNOCOIN owners then you can issue a legal notice on them and then may subsequently file a FIR on them.
Regards
1) issue legal notice to company to provide you cash tokens
2) f they refuse to do so sue the company to recover the loss suffered by you on account of failure to provide you the cash tokens
3) contact a local lawyer
Yes, I have the address and owner names of the Unocoin company. Can you help me with the legal notice along with the FIR or how to sue them?
The RBI doesn't recognise the use of Bitcoins and other cryptocurrencies as a legal affair. Thus, I'm afraid that you will receive any protection from the law enforcement agencies in the present matter.
Having said that, you may still take your chance by approaching the Police and tendering a written complaint requesting them to register a FIR in the instant matter.
For legal notice, you may avail the service of sending a legal notice from kaanoon.com
1)you can contact any lawyer on this website for issue of legal notice
2) make payment online on this website .
3)for filing police complaint approach local police station and file complaint under section 406, 420 of IPC against company and its directors
Yes I can help you with sending the Legal Notice and then you may pursue to file the FIR. You may take the required service from this website
Regards
Is it regulated by any authority?
If so, write to them about the scam.
In some case, the ombudsman may hear such matters.
Do not be in haste to file a complaint as it would lead to waste of time, money and energy.
If you need a lawyer in Bangalore for consultation, let me know, I can refer.
Dear Client,
Where this company incorporated. IF not in India than ordeal to get u out from trouble.
Even RBI , SEBI issued circulars, such online trading is not regulated/approved by them and any act of fraud/cheating committed by non Indian company/person, unenforceable by Indian law.
Rest can provide details, - Will c what can be done.
If you have all the records of transactions and the details of the company which scammed you, first thing you do is to send a legal notice to them seeking return of your investment
If there is no response or if the company is not cooperating then you may plan to lodge a criminal complaint with the concerned police.
Yes, I have the address and owner names of the Unocoin company. Can you help me with the legal notice along with the FIR or how to sue them?
You can engage the services of any lawyer of this forum or one in your local and immediately serve them a legal notice demanding your genuine dues.