Angry BTC Investor Brings $22.5 Million Lawsuit To Israeli Bank

The latest cryptocurrency news feature an unnamed investor who recently filed a lawsuit against the Israeli Bank Hapoalim in the amount of around $22.5 million US dollars. The angry BTC investor is apparently filing a complaint as a class action suit and he ultimately plans to sue other Israeli banks on the same grounds.

First seen through a report on the industry media outlet BlockTV, this lawsuit is now featured in the altcoin news. As the report showed, Israeli banks are largely anti-crypto because they wish to avoid being scrutinized or linked with crypto-related firms and individuals.

Still, the lawyer of the disgruntled and angry BTC investor, Lior Lahav, stated that the suit does not hold sufficient grounds for banks to refuse services to cryptocurrency investors. He stated:

“The banks have an obligation under the law to accept money from the clients […] They can check on their clients, do their due diligence, and find out where the money is coming from. The problem with the banks is that they are doing nothing. They are not asking their clients: ‘Provide me documentation of the origin of the money.’”

Lahav also illustrated the scale of the issue and directly contradicted the angry BTC investor with his lawsuit. As the coming altcoin news show, he said that there are tens of thousands of Israeli investors who are (similarly to him) being punished for no apparent wrongdoing:

“There are more than 70,000 bitcoin investors in Israel who are facing the same problem from their banks […] 99 percent of them are ordinary people that invested in a thing that’s completely legal,” he said.

The lawyer also pointed that his client is not Ross Gross. In fact, he showed that Gross is just an angry Bitcoin investor whose deposit the bank Hapoalim refused to accept – mostly because it came from crypto trading profits.

As previously reported on many best cryptocurrency news sites, Gross began investing in Bitcoin back in 2011 and reported his earnings to the Israeli tax authorities. However, as of 2017, the bank Hapoalim stopped accepting his deposits of funds earned from cryptocurrency trading, which is how he became an angry BTC investor and filed a suit against the bank.