Justin Sun Call Cops Over Missing STEEM

in LeoFinance2 months ago

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What a wacky day it was. Steem had a fork that eliminated some funds from a number of accounts. The wallet that the funds were directed to was controlled by someone who felt this was theft and sent the money to Bittrex.

In this video I discuss whether all of this is good for the industry and what we are trying to set up here.

Article cited in video:


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It is all a part of the process.

We already know that we need to find ways to protect ourselves from forks that take our funds away. When we figure it out, our investments will be that much more secure.

We already know that we need to be careful with our keys, someone sure reminded Sun of that lesson.

One bad actor can ruin stuff for everyone else, this is not a problem specific to crypto currency. All of my kids sometimes get in trouble for something just one of them did. I have been seeing the twitter posts and such, Sun is being called out, this is a good thing.

We are still in the Wild Wild West, shit is gonna hit the fan, we must simply keep rolling with the punches. And what are the Sheriffs gonna do about it? Nothing, let Sun spend his $$ on private investigators.

And really though, it is not just that bad attention is better than no attention, this is kind of funny right? I know there are real people involved and that real people have lost money, but ... at this point, it seems more like a soap opera than anything else.

Great reflections here Ma. A call for more carefulness and maybe more depths of the security in blockchain technology.

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This is both hilarious and a tragedy. Your right that once we uncorked the bottle and violated the principle of your keys your crypto, we can’t stop this ball from rolling down hill and we are here. It a disaster.

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This is just getting better and better.

Generally speaking, Crypto Currency is not recognized by the US government so this whole deal is probably just exercise in futility here. The only part the US recognizes is profit and loss... Taxes.

I have another real fear. A very legitimate fear. That I might run out of popcorn before this ends. What then?

I have another fear @bigtom13, that this is just a prelude to life under government run digital currencies on blockchain.

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That article was written before the HF. I'm pretty sure what Justin meant by getting his funds back is his Hive stake that was excluded from the airdrop. Doesn't make it any more of a solid case though. How can you steal something you never owned and how can law enforcement help you get it back?

That makes even less sense then going after the STEEM.

As you stated, how can something be sold if it is a new issue?

Makes no sense but then again, what Sun did quite often makes little sense.

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Yeah, I'd like to see him trying to explain this mess to the cops as well. "You see, there were these free tokens handed out to some people and I didn't get them. Could you put these thieves handing out free samples behind bars? I already tried getting back at them by stealing a bunch of money from their Steem wallets, but it didn't help. The money I stole was stolen from me. Those hackers and thieves belong in jail." I like to imagine it would go something like that. :P

We are working w/ law enforcement & will take actions to get our funds back! — @justinsuntron

Amusingly, that tweet was sent before the most recent hard fork. 😜

working w/ law enforcement could be a euphemism for “We filed a complaint and we’re waiting to hear back from them that we’re being charged with filing a false police report.”


Yeah I can only imagine what the cop taking the report would be thinking. It might be hard to follow along.

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Obviously Sun didn't watch Puerto Ricans in Paris. You don't go to local authorities, you hire professionals!

You are only bringing up circumstances around DPoS. If you are not yet aware the HIVE/STEEM fork with all its drama has only shown the failure of DPoS Governance and what happens when you put a name and personality to a hash address. Proof of Work is not having this school yard drama. That is the lesson to be learned here. DPoS is a bust.

Yet there were 51% attacks on both BCash and Bitcoin Gold (and some claim on Litecoin).

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Non-successful attacks perhaps. My BTC/BCH et al are still safely in my wallets.

That proves nothing, my hive and my steem are "safe" too. Does that mean that the system works? Hardly.

Well from my four year experience with DPoS it seems to me to be the playground of blockchain technology compared to proof of work chains. There are too many reasons and not enough interest to bother explaining here. My powering down on both HIVE and STEEM should indicate the opinion of one that has been involved in crypto since 2012 or a bit before.

You may be interested in another serious vulnerability being worked on in my lab for witnesses of on DPoS social media blockchains. It is being demonstrated in my recent post of images being posted directly to the blockchain itself in base64 format.

More information will be forthcoming, on this account, of how to unencode such images for those not familiar with base64 encryption.

Will check it out, thanks for the heads up.

P.S. Thanks for the motivation.

Thank ya. Thank ya very much!


Woah. I didn't hear this part of it, that someone sent the Steem to Bittrex!

I just found out and have been having a ball with this information. I wish it was a CW drama instead of real people being involved.

must say that this is an interesting development that should be followed, it will define the industry, whatever final outcome we see

Think that was the biggest Blockchain shock of the decade. A call for deeper look into Digital security.

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