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The lawsuit contends that Shrem's "expertise and knowledge" for using

April 13, 2018 by Paul Fletcher

The lawsuit contends that Shrem's "expertise and knowledge" for using bitcoins "was not sufficiently advanced" to create the potential for the theft of money.It also alleges that Shrem had used Bitcoins to buy other people's bitcoins. The legal deadline to obtain the money, Shrem has said, was at least 12 months ago before he discovered that a "loot" of bitcoins had been stolen from him.

In 2012, Shrem purchased 2.3 million bitcoins from Bitcoin wallet provider BitInstant in exchange for 2 million dollars. Shrem claimed that he had been using bitcoins for purchases by himself, a claim that was "not credible" with the evidence of other people.

"I am not able to prove that I purchased any bitcoins from him for the purposes of money laundering or for personal gain," Shrem wrote, in a blog post. "That is to say, I don't believe that he has sold any bitcoins."

In a statement, Shrem's attorney, Mark Kipfer, told Ars that while the judge did not reject the lawsuit on the grounds that it was "unlawful at its core," it did "not result in a violation of the law."Still loading...

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