New York, NY -- (SBWIRE) -- 10/29/2014 -- The Syscoin development team is pleased to announce today that with the help of their legal counsel Selachii LLP, they were able to effectively secure an injunction against Moopay LTD (A.K.A Moolah.io) and it's CEO Ryan Kennedy (A.K.A Alex Green).
In their lawsuit, the Syscoin development team alleges that Moopay's CEO Ryan Kennedy has not respected the contract that both parties had agreed to and is illegally withholding the bitcoin that Moopay collected during the Syscoin pre-sale. Having delivered the Syscoin promised during this pre-sale, Moopay only released 33% of the collected escrow funds to the Syscoin development team.
On October 25th, 2014, High Court of Justice of England and Wales judge Nicholas Hamblen has granted an injunction against Ryan Kennedy and Moopay LTD, preventing him and the organization from dissipating any of the bitcoin that they are holding, failure to follow this injunction will render him in contempt of court and criminally responsible for fraud.
Syscoin is a revolutionary cryptocurrency that not only allows low-cost financial transactions like Bitcoin, but provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. "Unlike other cryptocurrencies, Syscoin's value is intrinsic due to its value being directly related to the services it provides." said Syscoin development team manager Dan Wasyluk. Syscoin will be trading under trade symbol SYS in virtual currency exchanges.
About the Syscoin development team
As an open-source development team, Syscoin's team is comprised of 6 founding members Syscoin and a growing list of contributors. An award-winning team experienced in cryptocurrencies, experienced in various software languages
About Selachii LLP
Based in the U.K., Selachii LLP is a niche law firm providing a range of services to corporate and private clients
For Media Contact:
Dan Wasyluk, Manager firstname.lastname@example.org
Phone number: (903) 655-4SYS (4797)
Visit Syscoin on the web: http://www.syscoin.org
Like Syscoin on Facebook: http://facebook.com/syscoin
Follow Syscoin on Twitter: https://twitter.com/syscoin
Purchase Syscoin at Bittrex.com: https://bittrex.com/Market/Index?MarketName=BTC-SYS