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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread on: May 18, 2021, 06:34:01 AM
Maybe the high transaction fees problem can be sidestepped by making a clone of Counterparty on a blockchain that uses the same address format as bitcoin so that for each bitcoin address that exact same address works on the other chain; and is merged-mined alongside bitcoin so has a very high difficulty albeit not as high as bitcoin's since not all bitcoin miners do merged mining.

I am thinking of DeVCoin, which admittedly is based on bitcoin code that by now is a little old, but should not be too hard to bring up to date if newfangled features of bitcoin are desired.

Counterparty could even be updated to be able to retain linkage to bitcoin's own blockchain by periodically doing bitcoin-chain counterparty transactions bring the bitcoin chain up to date with various transactions that have happened on the cheaper chain, to pin it all back to bitcoin's level of difficulty/security from time to time.

-MarkM-



Why can't Counterparty evolve to use lightning channels somehow?  then there would no issue with fees, actions on DEX would be instant and there would be less unnecessary bloat and increased privacy with the DEX actions not being written into the blockchain.
2  Economy / Scam Accusations / Re: SCAM **COINS-e.com***SCAM list of unhappy customers on: April 27, 2021, 06:22:43 PM

https://twitter.com/ahcastor/status/1378894958510317569

3  Economy / Exchanges / Re: How come some KYC exchanges ask for more info than others? on: April 13, 2021, 07:15:06 PM
The KYC system is now widely implemented in centralized exchanges because they want to need important information when there is a problem, I think now it has become commonplace I almost every exchange always takes KYC steps to secure my account going forward.

KYC has become a rule for those who apply it is to avoid money laundering because this has happened a lot before and with KYC we are more flexible with bigger withdrawals.

nonsense KYC does not prevent money laundering.  Banks are the biggest money launderers and they have KYC on everyone that uses them.
4  Economy / Exchanges / Re: How come some KYC exchanges ask for more info than others? on: April 13, 2021, 07:13:14 PM
KYC is evil and completely unnecessary. 

It has no place in cryptocurrency and does nothing to protect the customer.  It allows exchanges to selectively scam as they decide if a customer "passes"  This is what Bittrex did to 1000s of customers.  This is why KYC is often said to stand for "Keep Your Coins

Then there is the risk the exchange will be hacked and your identity stolen along with any funds kept there, allowing hackers to sell and use your identity in other online financial crimes.


If the exchange wants KYC find an alternative that does not:
5  Economy / Scam Accusations / Re: SCAM **COINS-e.com***SCAM list of unhappy customers on: April 04, 2021, 03:05:00 AM
The thief now has interview on youtube "NAS Daily"
https://www.youtube.com/watch?v=VdtEHFv54iA


He saw opportunity... to steal millions in cryptocurrency from coins-e customers Cheesy (spot the lendroid sticker)


keeps all "his" wealth in crypto and has billions in crypto!!!


People in the comments have no idea about this lowlife, full of praise for this con artist.  Sad  they do not even know that him and Beeple are partners who likely plotted to sell NFT art through Christies so they could wash years of stolen crypto. Maybe Justin Sun lost auction on purpose and was only bidding to push the price up and they would always make the final winning bid towards the end. 
Sun may also be a part of this if we can find some history between him and Sundaresan then it would be clear he too is also involved in the $69 million NFT money laundering and has been rewarded for their role somehow.
6  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: April 01, 2021, 12:59:41 PM
Cryptopia Rescue group annouced they submitted a Fraud Complaint against the liquidator Grant Thornton in New Zealand.

https://twitter.com/CryptopiaRescue/status/1377592639155970050


https://www.cryptopiarescue.com/post/fraud-complaint-laid (https://archive.ph/wip/M9Ybf)

Fraud Complaint Laid
As a result of the requests from several of the registered account holders, Cryptopia Rescue has submitted the following complaint to the New Zealand serious fraud office.

We encourage affected people to also lodge their complaint online here https://www.sfo.govt.nz/make-a-fraud-complaint-online

Copy as follows.

Serious Fraud Complaint regarding

Grant Thornton NZ (accountants)

David Ian Ruscoe (liquidator)

Malcom Russell Moore (liquidator)

Buddle Findlay (solicitors)

Scott Barker (solicitor)

Bridie McKinnon (solicitor)

Creating and using documents to defraud and obtain pecuniary advantage.

Background

Ruscoe and Moore were appointed as liquidators of Cryptopia, a Christchurch based crypto currency exchange, in or about May 2019. The liquidators first report can be found here https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/first-liquidators-report-31-05-2019.pdf

In understandable circumstances the first report was limited in information about the financial status of the company. A better understanding of the assets of the company and financial status is found on page 9 of the second report here https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/second-liquidators-report-to-creditors_cryptopia.pdf

Confirmation of the assets and financial status of the company can then be found on page 9 of the third report here https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/third-liquidators-report_cryptopia-12-06-2020.pdf

Again confirmation of the assets and financial status is found on page 7 of the forth report here https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/fourth-liquidators-report_cryptopia.pdf. For some reason the liquidator has changed the whole format of the financial reporting, which makes it difficult for laypeople to follow and understand.

In or about March 2020 a High Court hearing was run by the liquidator to determine the status of the over 960,000 account holders who all had a positive coin balance in their Cryptopia account. At the time the value of coins was roughly USD$130,000,000. Based on current bitcoin price and the movement is many of what are called Alt Coins the current value of coins is closer to USD$800,000,000.

Many of the documents relating to the court case can be found here https://www.grantthornton.co.nz/update-for-cryptopia-account-holders-10-february-2020/

The final court order can be found here https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/civ-2019-409-000544---ruscoe-and-moore-v-cryptopia-limited-in-liquidation.pdf

In summary the High Court order of Gendall states that Cryptopia was effectively a Trustee for the account holders, that the account holders were secured creditors and their digital assets can be returned to them.

The implications of the court hearing basically were … if it was found the account holders were unsecured creditors then the US$120 million of coins could be sold by the liquidator and distribution of dollars after costs would be sent proportionately to all creditors. If it was found the account holders were secured creditors then only coins owned by the Cryptopia company were assets of the liquidation and could be sold to fund the liquidation and pay creditors.

First issue of complaint.

Page 17 of the liquidators first report is an order obtained by the liquidator to sell 344 bitcoin. There is no accountability of what submission was put to the court to obtain the order. What we know from page 10 of the sworn affidavit of Ruscoe is a list of the accounts on the database that the company had coins in, and attached to the affidavit was an electronic file which included those accounts, some details of what coins were in each and a value at the time. That affidavit is here https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/2020/1.-second-affidavit-of-david-ian-ruscoe-sworn-8-november-2019.pdf.

Page 20 of the fifth affidavit of Ruscoe here https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/2020/6.-fifth-affidavit-of-david-ian-ruscoe-sworn-13-february-2020.pdf includes a balance sheet of the company just prior to him being appointed as liquidator. That balance sheet states the company had NZD$747,563.39 of bitcoin prior to liquidation. The value of bitcoin on or around that time was US$4,000 roughly, and so we estimate around 125 bitcoin.

It appears Ruscoe has sold 200 or more bitcoin that were trust assets and not company assets.

Ruscoe in submissions to the court for the hearing in March 2020 raised the issue with Gendall that if the decision of the court was in favour of the argument that account holders were secured he had issues because of the previous order to sell 344 coins.

The financial statements in reports 2, 3 and 4 state that company crypto assets were sold and converted to fiat to the value of $4,427,292. If we look at the 31 March 2019 balance sheet it states there was a total crypto and other liquid asset value of around $4.1m. So benefit of the doubt could be that Ruscoe didn’t sell 344 bitcoin (literally) he sold all the company crypto? We don’t know.

Second issue of complaint.

In March 2021 the liquidator has released an update which includes another order obtained from the court giving him authority to sell another 80 bitcoin. https://www.grantthornton.co.nz/update-to-cryptopia-claimants-and-stakeholders/

At todays rate of US$58,000 per coin that totals US$4,640,000.

The sworn affidavits of Ruscoe do not support this sale. There is nothing in any of the regulatory reports of the liquidator to show the company has any coin assets still. These coins are being sold to further fund the liquidators costs.

Our opinion is the court has been mislead into make both these orders.

Third issue of complaint.

As at 14th November 2020 the liquidator has incurred over NZ$8m in costs for this liquidation.

Of that over $2.3m were in direct fees.

Scott Barker and legal have received over NZ$1.4m

Other costs do not pass the smell test, for example employees costs of NZ$1.9m, Server hosting costs of over $600k. The liquidator indicates IT people are costing $600 per hour, equivalent to a salary of over $1.2m per annum per person.

Summary

1. There is a huge number of documents, too many to just file online.

2. We believe the companies and the individuals list above are receiving pecuniary advantage by creating significant profits for their companies and are incentivised to do so.

3. The law firm involved is incentivised to fast track legal process. Currently several orders obtained by the lawyer on behalf of the liquidator for other related matters are being challenged because the lawyers mislead the court and used wrong procedures in order to obtain their orders without objection of affected parties.

4. The liquidator is appointed to liquidate the Trustee Company, Cryptopia, not any of the trusts. What they are doing is actually selling up secured trust assets to fund the liquidation. This is no different than the lawyer who takes client funds out of his trust account without authority. It is clear the liquidator and their lawyers have mislead the court to get these orders.

5. We believe there will be a significant number of other breaches of the law, there are thousands of pages of documents.

6. It is critical the Serious Fraud office investigates this matter for the following reasons.

a. The amount of money involved exceeds NZ$1 billion dollars.

b. The number of creditors involved exceeds 960,000, the majority of them are all over the world.

c. After discussions with politicians and Government agencies it is clear that there is no governing body keeping these liquidators and lawyers to account. It would take hundreds of thousands of dollars for the creditors to instruct lawyers and for a huge number of them they don’t have any more money.

7  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: March 30, 2021, 04:13:18 AM
if anyone has Cryptopia BTC addresses they can share (PM me if you don't want to post in here) they will help confirm the cryptopia wallet cluster and trace where bitcoins have gone since the before and after the liquidation start.

Do you mean like these lists over on the [Cryptopia] ONLINE ARTICLES related to hack &theft of funds 2020 (non discussion thread?

https://bitcointalk.org/index.php?topic=5097916.msg49253290#post_stolen
https://bitcointalk.org/index.php?topic=5097916.msg49253290#post_frozen




If the "Cryptopia Rescue" are a class action, then I can add their information to this list if they post their details on the other thread.

yeah i got those, but wanted more to get more confirmation with, or find other clusters not linked to Cryptopia yet.

I would recommend talking to them on their twitter if you are interested in their class action (I have no interest in participating in class action).  I have mention the forum to them so maybe they will come in here and post sometime.
8  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: March 30, 2021, 03:58:42 AM
CryptopiaRescue says the liquidator is about to sell off another 80 BTC of customer Bitcoin and there is less than 48 hours for people to submit a notice of opposition.

I would guess anyone with some legal knowledge can do this and don't have to go through CryptopiaRescue but they only group that posted about it.  Grant Thornton for obvious reason is not informing customers about their legal rights and opportunity to challenge them dipping into customer bitcoins.  They never post updates or notify customers until after they do something to prevent challenges to their actions.  and the media has completely failed to hold them to account and keep the public informed of their misconduct and the irresponsible behavior of Grant Thornton.

https://twitter.com/CryptopiaRescue/status/1376528820916809728


If it were known what exchange they are using to dump those 80 BTC on, then it might be possible to legally demand that exchange freeze the funds/coins and account being used as the ownership is disputed, and until Grant Thornton proves that the bitcoin being sold belongs to Cryptopia the company and not the customers.  CryptopiaRescue might be able to help ?

if anyone has Cryptopia BTC addresses they can share (PM me if you don't want to post in here) they will help confirm the cryptopia wallet cluster and trace where bitcoins have gone since the before and after the liquidation start.
9  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: March 22, 2021, 10:35:08 PM
Update for Cryptopia Claimants and Stakeholders 17 March 2021

Looks like they just took 80 BTC from us.  That's a rather hefty chunk.


That 80 was part of the Cryptopia coffers. They cannot touch our coins its held in trust.

Cryptopia doesn't/didn't have 80 BTC in their coffers. We likely paid that.



and they can fail any account holders AML/KYC requirements and take their coins.  they are soo greedy that now they are not wait until the end stages, they raid wallets now because they know can fail customer claims later to get more money allocated for themselves and the creditors (these are directors, shareholders, contractors and staff, but NOT include customers).  Angry

https://twitter.com/CryptopiaRescue/status/1373075894818938880


from https://www.cryptopiarescue.com/post/grant-thornton-wants-to-sell-your-coins-to-fund-their-fees
Grant Thornton also asked the court in a sworn affidavit for directions to sell the coins of account holders that failed to claim or meet the registration requirements on the liquidator, and the proceeds of those sales be assigned as company property, effectively to further fund the liquidator.

Some others have commented that CryptopiaRescue are scammers because they are doing what anyone can do and charging a fee for it, but they also unearthing some of the dirty secrets of Cryptopia and Grant Thornton.
Where are the people who ran and destroyed Cryptopia?  They are in hiding because thats all they have to do wait and they will get very nice payday at the end of this scam - a payday most likely to be funded largely from the "failed" account holder coins. Angry

CryptopiaRescue has discovered from the Cryptopia balance sheets that before the liquidation $13 million of coins disappeared!  
https://twitter.com/CryptopiaRescue/status/1373104933780656133

10  Economy / Scam Accusations / Re: SCAM **COINS-e.com***SCAM list of unhappy customers on: March 21, 2021, 02:19:00 PM
This scammer has another article about him and his $69million Beeple NFT purchase. 
https://cryptoslate.com/metakovan-explains-why-he-paid-69-million-for-beeples-nft-artwork/

and this one
https://www.businessinsider.in/tech/news/the-man-who-bought-beeples-69-million-nft-reveals-his-identity-to-show-the-equalising-power-of-crypto-but-is-caught-in-a-controversy-himself/articleshow/81583375.cms

Quote
When Sundaresan created the B20 project, he gave himself 59% of the outstanding tokens and 2% of it went to Beeple.


Quote
According to an independent blogger Amy Castor, this represents a conflict of interest. The two may have been in cahoots to ensure that the ‘Everydays: The First 5000 Days’ artwork, by Beeple, gets added to the Metapurse collection.

They are still scamming and Christies doesn't even realize are now a part of the scam having helped launder $69 million of cryptocurrencies and pump the price of B20 token. Beeple and Sundaresan would seem to be partners.
11  Economy / Scam Accusations / Re: SCAM **COINS-e.com***SCAM list of unhappy customers on: March 18, 2021, 09:40:35 PM
Check her twitter too, she seems to be only one writing about these scammers.  This entire Beeple NFT could be one big money laundering operation by the coins-e and lendroid scammers and they were helped by Christies!

https://twitter.com/ahcastor
12  Economy / Scam Accusations / Re: SCAM **COINS-e.com***SCAM list of unhappy customers on: March 18, 2021, 09:27:29 PM
Amy Castor an independent journalist has written about them:

Metakovan, the mystery Beeple art buyer, and his NFT/DeFi scheme - https://amycastor.com/2021/03/14/metakovan-the-mystery-beeple-art-buyer-and-his-nft-defi-scheme/[/quote]
Previous version of article here: https://archive.ph/vgte9

Metakovan, the mystery Beeple art buyer, and his NFT/DeFi scheme

Last week, a crypto whale going by the moniker “Metakovan” bought a Beeple artwork via Christie’s auction for $69 million—$60 million in ETH and $9 million in fees, also in ETH*—outbidding a surprised Justin Sun, founder of the Tron blockchain, in the last minute.

    7/12 I tried to update my bid to $70 MIL at the last 30 secs yet my offer was somehow not accepted by Christie’s system even though there was still 20 secs left.
    — Justin Sun🌞 (@justinsuntron) March 12, 2021

After the barest amount of digging, I am going to hazard a guess that the mystery Beeple buyer is Vignesh Sundaresan, a crypto entrepreneur who has been in the crypto landscape for about seven years.  

It’s pretty obvious, really. Metakovan has given a few audio interviews. And if you compare those to previous Sundaresan interviews, like this one, it’s the same voice—and the same crypto origin story.

In a recent interview with the Good Time Show, for instance, Metakovan says he got into crypto in 2013, lived in Canada for several years, and then left for Singapore in 2017 because crypto regulations in North America were too “unclear.” That’s basically Sundaresan’s background as well.

Putting aside the matter of why Sundaresan would want to keep his real identity cloaked in the first place, the next question is the grift—how is he spinning a profit off of non-fungible tokens, or NFTs?

I’ll get to that in a moment, but first…
Who is Sundaresan?

According to the bio on his website, Vignesh Sundaresan is behind several crypto startups.

He co-founded BitAccess, an early bitcoin ATM company in Canada. BitAccess was accepted into the Y Combinator startup accelerator in June 2014, according to Coindesk.  

And then, in January 2017, he founded the Singapore-based Lendroid Foundation. The firm raised $47.5 million (50,000 ETH) in a two-day initial coin offering in February 2018, according to CryptoRank.

He also founded consulting firm Portkey Technologies and claims to have backed several popular crypto projects, including Ethereum, Polkadot, Dfinity, Omisego and Decentraland.

Going back further, Sundaresan launched crypto exchange Coins-e in Ontario in 2013. (Coincidentally, the same year that Gerald Cotten and Michael Patryn launched their failed Canadian crypto exchange QuadrigaCX.)
Coins-e, a defunct Canadian exchange

Several Coins-e users have taken to social media to complain about losing money on Coins-e, calling it a scam and warning others to watch out. (See Reddit—here and here—and BitcoinTalk.)  

The posts on r/dogecoin are the most alarming. Coins-e clients report having their dogecoin disappear. Wireguysny described watching 1.3 million DOGE evaporate and the frustration of being unable to reach tech support to get to the bottom of the matter.

Xclusive2 wrote: “I’ve had just about enough of of Coins-e millions of coins missing, no reply from support ever! the reason is because it’s a one man operation. the problem is this joker is stealing and trading everyone’s coins when and how he feels to make himself rich he knows that Doge is worth a lot of BTC in large volumes.”

Sundaresan denies being the guy who allegedly ripped people off. According to him, Coins-e was sold to a company called Casa Crypto in Waterloo. The transfer was overseen by law firm LaBarge Weinstein, he claims.

“Since it was sold, I have not been associated with Coins-E. Allegations of a scam are FUD,” he told me.

I am so far unable to confirm that sale. I can’t find any announcement or press release on the sale. The Coins-e website no longer exists, and an archive of the site’s “About” page from 2016 doesn’t reveal who is behind the operation. I can’t find a company called “Casa Crypto” in Waterloo either.

Sundaresan offered to show me proof of the sale via a video call. I told him I was open to that, but he hasn’t gotten back to me to set up a time. He did not comment on whether he was Metakovan.

Meanwhile, I’ve looked up the domain registration for Coins-e.com. The site was registered in May 2013 and the only update was in May 2020—after customers complained about their coins vanishing.

The site was originally registered to Ramesh Vinayagam—the name of a famous Indian composer, per Reddit user xclusive2. Another alias perhaps? And, according to a Paste from January 2014, the site was registered to the man himself shortly before the registration was made private and Sundaresan entered the Y Combinator program.
The NFT connection

NFTs are the big thing now. They took over as the latest grift when decentralized finance, or DeFi, ran out of steam last year. Fellow nocoiner David Gerard wrote a blog post explaining how NFTs work and why digital ownership of art is utter nonsense.

“NFTs are entirely for the benefit of the crypto grifters,” he said. “The only purpose the artists serve is as aspiring suckers to pump the concept of crypto — and, of course, to buy cryptocurrency to pay for ‘minting’ NFTs.”

Stepping back, we first see the connection between Sundaresan’s startup Lendroid and NFTs in a blog post titled “Why DeFi Needs NFTs.” The post, written by his business partner Anand Venkateswaran, describes how NFTs solve the problems of DeFi, such as flash crashes, volatility, and governance. (Venkateswaran, a comms person, also has a pseudonym—he goes by Twobadour Pannar.)

Lendroid powers WhaleStreet, an Ethereum-based platform for swapping ERC20 tokens—that’s the standard for fungible Ethereum tokens. WhaleStreet has its own native “yield-farming token” called Shrimp.

Metakovan is also behind Singapore-based Metapurse, a crypto-based investment firm. Metapurse’s mission, according to its website, is to “democratize access and ownership to artwork.” The firm has been acquiring NFTs. It purchased Beeple’s “Everdays: 20 Collection” artworks for $2.2 million in December.

Metapurse has taken Beeple’s multiple artworks, or NFTs, along with three virtual museums, and combined everything into a “massive bundle.” Would you like to invest in this wonderful package? You can. All you have to do is stock up on Metapurse’s new B20 token.

This blog post on the Metapurse substack lays out the grand plan:

    “We believe we truly achieved this with B.20 — the name of a massive NFT bundle we are fractionalizing so that everyone can have ownership over the first large scale public art project within the metaverse. It is important to note that we’re fractionalizing ownership, not the assets themselves. These fractions will be available as 10 million B.20 tokens, and can be referred to as the “keys” to this digital vault.”

Number go up

The name of this game is “number go up.” This is about pumping B20, so holders and Metapurse can benefit when they go to sell the token—i.e., get more ETH, buy more NFTs, rinse, repeat.

The token distribution is something to pay attention to. Metakovan has 59% of all the B20 tokens. Why does he own the majority of tokens? As he explains it, that is to prevent any single person from owning more than half of B20 tokens—and snatching up all this wonderful artwork for themselves. The idea is to decentralize and democratize art, only Metakovan controls the token supply.

What’s interesting is that Beeple, the creator of the artwork, is actually a business partner of Metakovan’s. He owns 2% of all the B20 tokens. I’m sure there is no conflict of interest here.

WhaleStreet hosted the B20 sale on Jan. 23. Apparently, 1.6 million B20 tokens were sold to the public for $0.36 per token. After the Christie’s auction, B20 shot up to $23. It’s now down to around $16, according to Coinmarketcap. That’s a nice profit for anyone who got in early—and worth over $3 million for Beeple, if he dumps his coins quickly and there’s enough liquidity to actually sell them.

    It was a privilege to engineer the largest bundle ever, and to also host the #B20 sale portal. We've made it bright and shiny. Come check in at 6:30 pm CST at https://t.co/UO5YO6l628 https://t.co/wvA6vQraam
    — WhaleStreet (@WhaleStreetoffl) January 23, 2021

At the end of the day, this is a straight-up initial coin offering-style index fund to speculate on NFTs, with a twist: Metakovan owns most of the tokens—and he has an existing business relationship with the artist.

I wonder if Metakovan anticipated having to pay this much ETH to Beeple for his “Everydays: The First 5000 Days”? Metakovan knew he needed the artwork for his index fund. But did he expect Sun to keep bidding the price up to the very last second?

Also, in an earlier version of this post, I questioned why we can’t see the blockchain transaction—which was supposed to be 42,329.453 ETH. If we can’t see the transaction, how do we know that Beeple actually got paid for the sale and is not in cahoots with Metakovan to make number go up?

I now have a theory.

As Christie’s spells out in its conditions of sale, the transaction needs to come directly from a digital wallet maintained with Coinbase Custody Trust, Coinbase, Fidelity Digital Assets Services, Gemini Trust Company or Paxos Trust Company. And it sounds like the funds may even have gone into Christie’s escrow wallet.

Anyhow, if both parties had Coinbase accounts, the exchange could just change the database records off-chain to flip account balances. In this way, Coinbase acts like a second layer, and you wouldn’t see the ETH transaction.

When all was said and done, the Christie’s auction turned out to be a sweet deal for Beeple who now has a reason to shill crypto to his 2 million Instagram followers. And Metakovan gets publicity for his ICO project, so his own personal B20 holdings rise in value.

    holy fuck.
    — beeple (@beeple) March 11, 2021

Since I published this article, Sundaresan has written to me and asked me to take it down. I refused, but agreed to make edits if he could point to anything specific that was wrong—so far, he hasn’t.

I’m posting Sundaresan’s full comment on the matter below:

“Hello Amy, I am replying to address your concern about coins-e as relating to me. Definitely there are several factual inaccuracies in your blog post and your tweets. I would appreciate if you would temporarily pull down the posts until you have the facts right, as such a post causes unnecessary FUD and obviously it is your choice to not take it down. But if you do it will show that your intentions are in the right place and that you are looking to have a conversation. Regarding coins-e, it dates back to days when the crypto industry was very unorganized and the service itself was quite small and did not warrant a press release when the sale was done. The service was not even big enough to attract the crypto media attention, the service started growing bigger as the Casa crypto was taking over. The transfer happened through a well documented process with assistance from lawyers on both sides. Post the sale I had moved on to build Bitaccess, backed by YCombinator and I have had no link to Casa Crypto after the sale and I have repeatedly addressed this issue via newsletters and Q&As. For the other parts of your question, I believe it shall be better answered by contacting @metapurse and @twobadour directly.“

————-

(March 14, 2021—This article has been updated to add comments from Sundaresan and more detail about Coins-e. Additional updates made later in the day to theorize on why the transaction did not show up on the blockchain, add some Gerard quotes and spruce of the ending a bit.)

(*March 15, 2021—Christie’s accepted its fees in ether—the native crypto of the Ethereum network. When Christie’s originally announced the sale, the auction house said it would accept crypto as payment, but the buyer’s premium had to be in real money. Later it changed its policy to accept ETH, according to Bloomberg.)
13  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: March 18, 2021, 06:14:31 AM
There is a group called Cryptopia Rescue on Twitter - https://twitter.com/CryptopiaRescue

They have said that this latest spend of bitcoins could be possibly illegal action by the liquidator Grant Thornton.

The liquidator of
@Cryptopia_NZ
 needs to be held accountable in court. His actions are possibly illegal but unless we join together he will never be held to account. If affected you need to join us.
14  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: March 18, 2021, 05:53:29 AM
Update for Cryptopia Claimants and Stakeholders 17 March 2021

Looks like they just took 80 BTC from us.  That's a rather hefty chunk.


That 80 was part of the Cryptopia coffers. They cannot touch our coins its held in trust.

They can touch the coins, sell them, move them, make use of the actual coins in the wallet however they want.  They just cannot legally change your balance in the database to account for it now.
So another 80 BTC taken from the customer wallet means 80 BTC less to reconcile balances with later.

Like the haircut done by the owners before liquidation allowed them to steal from users the value of the hack in each crypto by adjusting their balances and freeing up those amounts for company use.  


15  Economy / Exchanges / Re: [ANN] Bittrex - Next generation exchange (btc/ltc/eac/ppc/rdd/ftc/and more) on: September 18, 2020, 06:05:04 AM
Interesting thread you have there about Bittrex, got to say there are lots of allegations against them. I will be posting there but agree with your advice about warning people to stay away from that exchange.

A friend of mine fell victim of Bittrex scammers: https://bitcointalk.org/index.php?topic=5270691.0
Stay away from this scam exchange!

thats exactly what happened with alot of us from who were original users from 2014. Overnight they blocked access to withdrawals (but we could still trade, whats that about!?).
They would not allow us to close our and accounts and leave with our property. its another example of how regulations have enabled these types of AML/KYC scams to grow and prosper. Established scams like Bittrex can now always hide behind their AML/KYC policies and deny people their funds.
hopefully a nice class action against them one day when the extent of the abuse and how they have profited from their AML/KYC polices is fully revealed   Angry
16  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: September 18, 2020, 05:30:04 AM
New update from liquidator :

https://www.grantthornton.co.nz/Update-for-Cryptopia-account-holders-18-September-2020/


Selected part :
Quote
When can I get my coins back?
The expectation is the claims process will open by the end of the year with the AML to follow this. Once these two phases are complete, we expect the repatriation process to follow. It is important to note that:

We have to establish a claims process and cannot just open up the Cryptopia exchange: the exchange was hacked prior to the liquidation. With the source of the hack still not identified we cannot open up an exchange that has been compromised
We have to complete the reconciliation process: this includes re-establishing coins in a non-hacked environment and then reconciling coin balances to the customer database. With over 900,000 active customers and up to 900 different coins, this is not a quick process
We will likely need to go back to court to seek further directions in respect of the distribution process including AML requirements. As liquidators, we need to follow the laws in New Zealand and cannot just return coins to account holders without completing appropriate KYC procedures


Quote
Are you selling my coins to fund the Liquidation?
The Liquidation is currently being funded with company assets. Allocation of costs of returning account holders assets will be subject to further direction from the Court.

To clarify the account holders’ assets are not recorded in the Receipts and Payments statement, found in the Liquidator’s reports.



Quote
15My crypto was not affected by the January hack, why can’t I withdraw them?
Because no detailed reconciliation process between the customer database and the crypto assets held in the exchange’s wallets was ever undertaken, we cannot confirm that account holders' coin balances will match the actual holdings for each coin.


still with the don't know how it was hacked story (does any of them investigate it now? did they ever?).  

TillKoeln of unnamed.exchange posts above it can be used for the return of funds, and its known that this exchange is created by one of the cryptopia founders saddam213 aka chainstack.
Does Grant Thornton consider them a suspect in the hack? If he is not a suspect then he should be employed by them to fix this mess, not new hires who waste time learning how it all works and may introduce a new risk of theft or loss.
Unnnamed.exchange must be capable to handing a wallet reconciliation process or the unnamed.exchange would not have been around for over a year now with their wallets running and exchange unhacked.  
but really any exchange that already has shown it handles a variety of altcoins and tokens would be capable of integrating the wallets and database, so liquidators could choose to contract it out to a suitable cryptocurrency exchange  instead of wasting more time and money to reinvent the wheel here Huh
17  Economy / Service Announcements / Re: Cryptopia Cryptocurrency Platform Services and Development on: June 30, 2020, 10:32:47 PM
I have heard many negative things about this unnamed.exchange and I would never trust them one bit but so far there have been (to my knowledge) no scam accusations against them.

The last time I bothered looking at their exchange I noticed they were using what seems to be Peatio 1.8+ version for their exchange, exactly which crypto they have added and which templates for Peatio they are using I do not know but I do remember them adding many useless and almost worthless coins to their pairs. I was not impressed with website then and I am sure I will not be impressed if I took a look at it now.

It would not surprise me if the exchange was set up with to selective scam first then full scale scam later before closing down with investors losing their funds but right now there is no evidence to support this except the alarm bells that rang during the time several users (including myself) were expressing views of caution on their self-moderated ANN thread.

I must have nodded off - how does "unnamed" relate to the Cryptodisaster of this particular thread?  (and what exactly is a Peatio 1.8+ version for those of us not in the know??)

its not Peatio, its based on Assetylene/TradeSatoshi platform (https://www.assetylene.com) that the Cryptopia founder and developer Clark created. They sell that to others who rebrand it (like Peatio) and make their own exchange from it.

A highly secure & scalable white label crypto trading platform
Position yourself at the forefront of the financial revolution by having your very own cryptocurrency digital asset exchange

The founder of defunct cryptocurrency exchange Cryptopia, which entered liquidation following a hack in January 2019, has launched a new exchange called Assetylene.

A new Twitter handle was created for Assetylene in September 2018, having 71 followers on the social media platform. It is also revealed from an early archived copy that it tries to copy another popular exchange, “TradeSatoshi”. However, Clark has clarified that the reason there is a similarity between the two platforms is that he himself used to be a senior developer at TradeSatoshi.

So Clark sells this to TillKoeln, who created Unnamed exchange (thread here: https://bitcointalk.org/index.php?topic=5169189.0) and they took some of the staff from the Cryptopia and TradeSatoshi exchanges and Clark maybe gives some support or updates for it.   Could be others out there that look more different from the original Assetylene theme and so no one knows they are using it.

Its no secret but they probably keep it quiet because of the "Cryptopia connection" with Clark.

Also not much was revealed about the Cryptopia hack by Cryptopia owners, so cannot recommend using exchange that is made by the same developer Clark until there is proof the hack was not because of exploits or backdoors in a platform he created.

Cryptopia is still one of the few exchange hacks where the owners (and now Grant Thornton the liquidators) kept the details of it a closely guarded secret, its only because of third parties that there exists any evidence in the public that a hack actually happened. But there is still much unknown, there should be a full public posted release of all TxIDs for the stolen coins there is no reason to keep these secret. Once made public, then crypto community could track the stolen funds with a complete dataset, and it would be discovered exactly where the all the stolen coins and tokens had moved to.



18  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][UBQ] Ubiq - Smart Contracts For An Automated World on: June 21, 2020, 12:43:18 PM
I dont see how ETH shifting to POS could impact UBIQ. What is that u dont tell people that u know is of titanic-sized relevance? Everyone is struggling for air, u can hear people burping behind ur back while others may find joy in snorting out like a vacuum cleaner machine. The problem is lack of clarity which is a bad start and is not the way to beguile the rich.

Miners can switch to to mining UBQ when PoS begins for ETH.  But they have to know about UBIQ first, and be able to profit from mining it.  For most it will be more profitable to sell their GPUs then to keep playing cryptocurrency miner but some may choose to keep playing with UBQ.  At least it is not bloatware like ETH.
19  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SLOTH] Slothcoin 1.3.1 build 3 AKA 300K fork on: June 21, 2020, 12:30:33 PM
Hello Dev Wallet Is not synced behind plz give me the active nodes plz any one here Help Us Huh Huh Huh Huh Huh Huh Huh

Use these nodes and remove all others from your slothcoin.conf:
Code:
addnode=37.187.104.111:5107
addnode=83.80.173.101

and delete the peers.dat before running wallet.

Current block at time of this post is 1140511

SLOTH mining pool here https://pool.atomminer.com/stats, you can see stats for it,  no one was mining when you posted. Active nodes you already have, and your were likely synced, there was just no new blocks because no mining.  

You can try to mining it, in wallet (in wallet debug window enter "setgenerate true") or in the pool https://pool.atomminer.com/.




20  Economy / Exchanges / Re: Cryptopia - ONLINE ARTICLES related to hack & theft of funds 2019 (non discussion thread) on: January 27, 2020, 01:54:20 AM
Website: https://eng.ambcrypto.com/cryptopia-case-rescheduled-at-christchurch-high-court/
Title: Cryptopia case rescheduled at Christchurch High Court
Byline and Date:  Rakshitha Narasimhan, January 17, 2020
Archive link: https://archive.ph/wip/Xy11K
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