The Winklevoss twins have filed a lawsuit against infamous BitInstant founder Charlie Shrem. They claim the Bitcoin investor stole 5,000 Bitcoins from them in 2012.
Winklevoss Twins Lawsuit
According to the New York Times, Shrem made several lavish purchases in 2018 that caught the attention of the Winklevoss twins[1]. They filed a civil suit against him, convinced that Shrem made these purchases—which include a $2 million house and luxury cars—using the Bitcoins he had stolen from them in 2012.
Shrem Worked for the Winklevoss Twins Before Lawsuit
The twins hired Shrem in 2012. Tasked with building up a cryptocurrency stockpile, he had access to thousands of dollars to purchase Bitcoin.
At this point in time, Bitcoin was worth around $12 per coin.
The Winklevoss twins’[2] lawsuit claims that around $60,000 worth of Bitcoin was never accounted for. At approx $12 per coin, this value meant around 5,000 Bitcoins. However, 5,000 Bitcoins in today’s market is worth roughly $30 million.
At that value, the Winklevoss twins have decided to push forward on the matter[3] even though it has been a contentious issue between the parties for several years.
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Shrem’s Legal Team Contests Winklevoss Lawsuit
Charlie Shrem is obviously fighting the accusation. A representative from his legal team gave this response:
“Winklevoss Capital Fund has brought an utterly baseless civil lawsuit against Charlie Shrem. The lawsuit erroneously alleges that about six years ago Charlie essentially misappropriated thousands of bitcoins. Nothing could be further from the truth. Charlie plans to vigorously defend himself and quickly clear his name.”
However, Shrem has
