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March 08, 2012, 05:04:08 PM |
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It's in all the online payments trade-- the following is from Pymnts.com
TradeHill Inc., exchange operator for online currency Bitcoin, has filed a lawsuit against payment startup Dwolla.
In the suit, TradeHill alleges that “fraudulently reversed nearly $100,000 in supposedly ‘credited’ transactions and unjustifiably blocked an attempt by TradeHill to transfer $70,000 of its funds from Dwolla's control," a press release shows.
Dwolla CEO Ben Milne has since responded. While Dwolla has not yet been served a formal notice regarding any potential lawsuit, Milne says, his company would “vigorously defend all allegations of wrongdoing” should that service take place.
Milne’s response is hardly boilerplate, and makes a significant effort at explaining some of the details behind TradeHill’s allegations. The statement is available online at Observer.com’s BetaBeat.
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Good for Tradehill, bad for Bitcoins if Dwolla acts stupid. They should quietly settle out of court.
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