[ANN][AC]AsiaCoin - Relaunch

[Xuorc]

IMPORTANT

So from the block explorer (thanks for that) it looks like the dev scammer cashed out 30,130,175.27 of the premine.  He did so slowly over the course of the 2 weeks, in 300-1m increments.. (to not crash the price).. smart..

With an average 1000 sat pricing, that's about 300 BTC.. ~130k USD for this scam in his pocket..

The good news:

It looks like though the rest of the premine is just sitting at address: 2gqkfhoGMLpuwfXsRrSekhBAKRwmRH8sjEg  as of block 18013

http://199.231.191.241:2750/tx/3688b23d8dfa7e770697497247dcd0c037f2869495fd0e44a532c9ab9f1b28e0#i0

This means.. it's may be still possible to salvage this coin.  Even if the coin takes the 30m dilution.. which is effectively 10% and then just block this address...  That dilution could even be recouped by just reducing the staking % over the year to something like 50%, so that the final output can still be 360m.  

There hasn't been that many coins introduced outside of the scam premine wallet address...

Anyways technically this makes it actually much easier to repair, even if you just take the dilution loss of 30m.

Excellent news and analysis! Hopefully, community will take over this coin and make a hardfork locking that address out. 30 million unauthorized dilution is not a big problem.

P.S.: 18K AC bagholder @ Mintpal.

I agree, you seem pretty capable and so far we have 190 million "legitment" coins. If we can reduce the stake pos to 10% that would add much more value and overall much less inflation. Whos up for it? You think u can become the new dev? I have donations, bounties etc ready

I always liked the 2% interest after one year, thought that was about right and competitive with other coins.  Was never so sure about the 100% first year, so I'd be up for having a discussion on what to set the interest rate at.

[1714986073]

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[1714986073]

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[1714986073]

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[1714986073]

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[MCOnyx]

Thanks micryon for your work, perhaps some competent people can take this coin over, like it happened with WhiteCoin.

[ac2]

The list is growing. Please let me know so I can add your name to the

list. I lost tons of money in AC and would like this to be fixed. The

list so far:

AsiaCoin holders who wants to see a fix:

CryptoSteam
Nicolaas.R
silencesilence
bluebit25
WildChaser777
istop08
GröBkAz
Maxikosw (Maxikose on freenode irc)
hrt
cjp007
kache
minuchi.str
amit2007gunjan
noobthegreat
EEKman (Lost 3K USD. I feel you. I lost tons myself)
Maestro1
Xuorc
probrian
artem6662
Shkembe
Wolden
probrian
bittcoinn
voisina
jarserk
dirtypolecat
masterboy
nin7672
syrota
AC2 (1.35 million AsiaCoin)
Alpinist (200K AC)
Gambiman
Deathtoallptots (130K AC)
goldmann (Claimed to sell all of it with huge loss)
bitsta (Lost 25 BTC) (Claimed to sell all of it with huge loss)
ra1nb0wdash (Lost 3 BTC) (Claimed to sell all of it with huge loss)
ApoloTwo (lost 10BTC or 20 BTC on it ( i am not sure). ) (Claimed to sell all of it with huge loss)
georgeblair (680K AC)
minuchi.str (Lost 17 BTC)
BitcoinStacker
crypto_bull (700K AC)
Maestro1 (1 Million AC)
Final
nekokenny (49660 AC)
CycleSurfer360
tarzanbigcity
gaazje
milan74 (5K AC)
teringlijer (All his money in it)
kalenen (Lost 440k of AC)
LisboaKuya (lost 80k AC)
richwang (The post growing fast, I am holding 100 000AC)
bloodyboy (just when i was away for a while and have buy offer for about 900 satoshi this shit happend ;/ now i'm bagholder too...)
ORiN (13K AC)
surgexvb (lost 9620.63971700 AC)
ryanb (i have 593874.35376400 AC)
slasherzx (I lost my hard earned 45k AC due to this scam.. Fuck all my btc went to investing because  I fucking believe in the coin.. FUCK you im pissed.. I only have my total btc of 0.8 btc thrown into the air.. That is all my ROI for my rigs that I bought.. I want this fixed and compensated.. The devs have lost a lot of potential for being the next big coin.. Pls fix this.. I need my 0.8 btc, I'm no rich person like other people. If this can be fixed then I will support it.. )
nxt123.cn 30K AC
remulan (add me too 11839 AC)
LISSIE 4.5K AC Lost
juca_br2002 (500 AC)
Collegestudent (Please add me to the list: Lost over 15BTC or around 926064.79581800   Asiacoins
I hope the fix comes soon so the fud goes xD)
blindminer (I lost 700K AC)
DoomDumas (70K AC)
raggitor
Lsrwolf 24309.21914134 AC still sitting in Bittrex... this sux.
CapSER2.0 862907.454445 I have AC in my wallet
joewills (150K AC)
altcoiner
cryptojo
gaazje
donnyd413
Shurugwi
whatdidshedo
rsturtle (11K AC)
EEKmanc (3K AC)
zqjqiu (I lost 56000 AC)
skidog (lost a lot to maybe 70k)
syrota (35K AC)
cryptojo (350k AC)
skidog (70K AC)
Hoof-arted (43K AC)
jaayruu (only out 4 AC lol)
Escher (6K AC)
abel1337 (209K AC)
spcrypt
X-Laboratories
ChrisLandin 64K AC
noobthegreat 5K AC
drmadcat
wanvo 41K AC
eVilzOmbie
alekzander 274K AC
CryptoClub around 300K
tekke 10K to 15K


I woke up for a hour but I'm going back to sleep. Added names to the list.

Hi add me pls

56K shahim

Yay I'm winning! 1.35 million ac. Yep, I'm king of the losers!!! Woot woot!

[silencesilence]

+1

[Collegestudent]

IMPORTANT

So from the block explorer (thanks for that) it looks like the dev scammer cashed out 30,130,175.27 of the premine.  He did so slowly over the course of the 2 weeks, in 300-1m increments.. (to not crash the price).. smart..

With an average 1000 sat pricing, that's about 300 BTC.. ~130k USD for this scam in his pocket..

The good news:

It looks like though the rest of the premine is just sitting at address: 2gqkfhoGMLpuwfXsRrSekhBAKRwmRH8sjEg  as of block 18013

http://199.231.191.241:2750/tx/3688b23d8dfa7e770697497247dcd0c037f2869495fd0e44a532c9ab9f1b28e0#i0

This means.. it's may be still possible to salvage this coin.  Even if the coin takes the 30m dilution.. which is effectively 10% and then just block this address...  That dilution could even be recouped by just reducing the staking % over the year to something like 50%, so that the final output can still be 360m.  

There hasn't been that many coins introduced outside of the scam premine wallet address...

Anyways technically this makes it actually much easier to repair, even if you just take the dilution loss of 30m.

Excellent news and analysis! Hopefully, community will take over this coin and make a hardfork locking that address out. 30 million unauthorized dilution is not a big problem.

P.S.: 18K AC bagholder @ Mintpal.

I agree, you seem pretty capable and so far we have 190 million "legitment" coins. If we can reduce the stake pos to 10% that would add much more value and overall much less inflation. Whos up for it? You think u can become the new dev? I have donations, bounties etc ready

I always liked the 2% interest after one year, thought that was about right and competitive with other coins.  Was never so sure about the 100% first year, so I'd be up for having a discussion on what to set the interest rate at.

Yea bro loving my 920k ACs again i will do all i can help haha, lets make sure mircyon becomes dev. and p.s anything between 1-10% POS is best

[bdanyo]

Dear Asiacoin community,
 
We, the Pandacoin (PND) devs feel like giving back to the community with the recent Asiacoin blow up, as part of our coin’s origins and philosophy is to stand against cryptocurrency manipulation and scams. We would like to offer some sort of compensation to current Asiacoin bagholders that have lost money with the recent turmoil in the coin.
 
Compensation offer:
 
If you can provide proof of the amount of Asiacoin that you are currently bagholding, for the first 10 people that take up this offer, we will send you x10 amount the of Pandacoins (PND) that you hold in terms of Asiacoin! So for example, if you hold 10,000 Asiacoin, and is the first 10 to take this offer up, we will send you 100,000 Pandacoins (PND).
 
After the first 10 replies, we are still willing to send you the amount of Pandacoins (PND) to a 1:1 ratio for the amount of Asiacoin that you hold. For anyone with less than 50,000 Asiacoins, the minimum of Pandacoins (PND) received from us is still going to be 50,000!
 
Disclaimer: Maximum 150,000 Pandacoin (PND) per individual, wallet address, and bitcointalk account. Only bitcointalk accounts over 7 days old will be considered
 
Ok sounds good! How do I get some free Pandacoins? -
 
Step 1: Getting your Pandacoin (PND) wallet - Download our wallet by going to either https://bitcointalk.org/index.php?topic=568529.0 or http://thepandacoin.net/ and generating a Pandacoin (PND) deposit address
 
Step 2: Providing Proof
 

 
In your AsiaCoin wallet, go to File > Sign Message. Then click on the address book button next to the address input field and select your address. Then, enter your Bitcointalk forum username in the text box and click the sign message button. Finally, click the copy signature button next to the signature field and paste it in the message for Step 3.
 
Step 3: Contacting us with the information to receive our compensation offer - Go to https://bitcointalk.org/index.php?topic=568529.0 and reply with a post containing the proof of your signature embedded with the address from Step 2, along with your Pandacoin (PND) wallet address to receive our compensation offer for Asiacoin bagholders!
 
Your post should look something like this with the following example -
 
Asiacoin address: ALR6861XReyWD25RrJjzgY1GLe75MLH4DR
 
Balance: 1000.1234
 
Proof: IGkFFI3T29GrP55FqnmkOarblqUsmmfG7XxwwaYYQiwR8wV1hc2QpG7jEUshh1N4pk2uckdid3xDM4d 3AkA/WBY=
 
Pandacoin (PND) wallet address: PHFByB65qhEkG9SK8UjY94t7Phoqq8vnSr
 
 
 
Kind regards,
 
Pandacoin (PND) development team.
 
Edit: If your coins are trapped in an exchange, so you can't do step 2. You can provide a screenshot in your post over at https://bitcointalk.org/index.php?topic=568529.0in place of step 2 that was listed! I had many people telling me that their exchanges are trapping their coins, so there we go

[lamosty]

lol, have a look at randomly chosen 10 Articles from the main AC OP. The same text (written by scammer 'dev') on same-looking websites. How could I not have spotted this earlier??

[Xuorc]

Blackcoin - 1%
CinniCoin - 3.5%

Anything above Cinni is too inflationary in my view.

We should come in between the two.  1.5 -> 2.5 % seems about right.

[silencesilence]

+1

[micryon]

I agree, you seem pretty capable and so far we have 190 million "legitment" coins. If we can reduce the stake pos to 10% that would add much more value and overall much less inflation. Whos up for it? You think u can become the new dev? I have donations, bounties etc ready

Yea bro loving my 920k ACs again i will do all i can help haha, lets make sure mircyon becomes dev. and p.s anything between 1-10% POS is best

This has been interesting for sure, spent quite a bit of time today on this.  I diff'd the code against a non-malicious code and found the rest of the issues.. which would need to be patched as the first step (look for //SCAM markers): https://github.com/micryon/AsiaCoinFix/   This could be used as a starting point for anyone that wants to try and fix this.

Address would have to be blocked from transactions, *as well* as staking (I don't personally know how to prevent that part of it yet .. but it should be possible).


But I can't sign up to be the new dev here right now.... I just won't have to time commitment to see this through properly.  And I still have doubts on even if fixed, this will go anywhere..

There needs to be a more solid team put in place, headed by someone with great leadership abilities (like what mongonzo did for WC), for this to even have a chance.  The wallet code fix is just part of it (though that has now proved to be easier).  

Also need to : rebuild website, social accounts, start a new OP, work with exchanges.  Just a whole lot of marketing and coordination.  Needs to be complete team to be recruited and put in place to have any chance here.

[robinho1983]

add me to the list please 21k in cryptsy and 22k in wallet.

think this is going to be the last of crypto mining for me, just seems to be scam after scam.

even trading wont be the same as the market has very little trust in cryto atm.

[MCOnyx]

Add me to the list also, didn't have much but still.
Have 5538 coins at Polo.

[AssistantPimp]

Add me to the list as well. 4290 coins at Mintpal.

[3xk0pt3r]

The list is growing. Please let me know so I can add your name to the

list. I lost tons of money in AC and would like this to be fixed. The

list so far:

AsiaCoin holders who wants to see a fix:

CryptoSteam
Nicolaas.R
silencesilence
bluebit25
WildChaser777
istop08
GröBkAz
Maxikosw (Maxikose on freenode irc)
hrt
cjp007
kache
minuchi.str
amit2007gunjan
noobthegreat
EEKman (Lost 3K USD. I feel you. I lost tons myself)
Maestro1
Xuorc
probrian
artem6662
Shkembe
Wolden
probrian
bittcoinn
voisina
jarserk
dirtypolecat
masterboy
nin7672
syrota
AC2 (1.35 million AsiaCoin)184184
Alpinist (200K AC)
Gambiman
Deathtoallptots (130K AC)
goldmann (Claimed to sell all of it with huge loss)184
bitsta (Lost 25 BTC) (Claimed to sell all of it with huge loss)
ra1nb0wdash (Lost 3 BTC) (Claimed to sell all of it with huge loss)
ApoloTwo (lost 10BTC or 20 BTC on it ( i am not sure). ) (Claimed to sell all of it with huge loss)
georgeblair (680K AC)
minuchi.str (Lost 17 BTC)
BitcoinStacker
crypto_bull (700K AC)
Maestro1 (1 Million AC)
Final
nekokenny (49660 AC)
CycleSurfer360
tarzanbigcity
gaazje
milan74 (5K AC)
teringlijer (All his money in it)
kalenen (Lost 440k of AC)
LisboaKuya (lost 80k AC)
richwang (The post growing fast, I am holding 100 000AC)
bloodyboy (just when i was away for a while and have buy offer for about 900 satoshi this shit happend ;/ now i'm bagholder too...)
ORiN (13K AC)
surgexvb (lost 9620.63971700 AC)
ryanb (i have 593874.35376400 AC)
slasherzx (I lost my hard earned 45k AC due to this scam.. Fuck all my btc went to investing because  I fucking believe in the coin.. FUCK you im pissed.. I only have my total btc of 0.8 btc thrown into the air.. That is all my ROI for my rigs that I bought.. I want this fixed and compensated.. The devs have lost a lot of potential for being the next big coin.. Pls fix this.. I need my 0.8 btc, I'm no rich person like other people. If this can be fixed then I will support it.. )
nxt123.cn 30K AC
remulan (add me too 11839 AC)
LISSIE 4.5K AC Lost
juca_br2002 (500 AC)
Collegestudent (Please add me to the list: Lost over 15BTC or around 926064.79581800   Asiacoins
I hope the fix comes soon so the fud goes xD)
blindminer (I lost 700K AC)
DoomDumas (70K AC)
raggitor
Lsrwolf 24309.21914134 AC still sitting in Bittrex... this sux.
CapSER2.0 862907.454445 I have AC in my wallet
joewills (150K AC)
altcoiner
cryptojo
gaazje
donnyd413
Shurugwi
whatdidshedo
rsturtle (11K AC)
EEKmanc (3K AC)
zqjqiu (I lost 56000 AC)
skidog (lost a lot to maybe 70k)
syrota (35K AC)
cryptojo (350k AC)
skidog (70K AC)
Hoof-arted (43K AC)
jaayruu (only out 4 AC lol)
Escher (6K AC)
abel1337 (209K AC)
spcrypt
X-Laboratories
ChrisLandin 64K AC
noobthegreat 5K AC
drmadcat
wanvo 41K AC
eVilzOmbie
alekzander 274K AC
CryptoClub around 300K
tekke 10K to 15K
Kazulya 177K AC
cbutters 225K
pricoin19wk 10K AC
malsunrion 16K AC
hilgi 21K AC
dsergeevich 3700 AC


For those who joke I missed well this isnt a joke!

i lost 300 K , Bikin malu ASIA aje loe pade .... KAMPRET !

I have 200k AC in cold storage , the rest is locked on multiple exchanges

dioncodot  I lost 7883 in mintpal

Add me too, I have 75k in wallet

[Flomess]

35k on Mintpal 

[silencesilence]

need to make date and time of the last block network which will be updated

in mass panic people send their coins in exchange, and now from cryptsy I can not get my coins

From here begins the panic and selling coins

this should be our last point - the last block and delete the following blocks - May 03, 2014, 09:28:00 AM

Have a bad news for all holders of asiacoin
After the incident with shacoin https://bitcointalk.org/index.php?topic=512808.0 , where dev made 600 millions coin  hidden premine.
I'm check the first block asiacoin through official block crawler.
I'm decoded HEX data in this transaction: transaction id d7a3477eab372c40b122c8f4e0c77f4bc36e353f4cd749d205b6e028e4f10b80
and found 3240000100 hidden coins, which not showing in system.
You can check it by HEX data in first block http://theasiacoin.com/explorer/index.php?transaction=d7a3477eab372c40b122c8f4e0c77f4bc36e353f4cd749d205b6e028e4f10b80
Example:
HEX data in first block.
010000001ba74e530100000000000000000000000000000000
00000000000000000000000000000000ffffffff0a51010106
2f503253482fffffffff010061084fc3820b00232103717ba7
341055e84fcd038f822493015aa8630e348653d380b36c83df
25072f73ac00000000
after this value fffffffff01 is following 8 bytes summ of transaction.
->   0061084fc3820b00
convert it in big-endian and we get -> 000b82c34f086100
calculate this hex in decimal form and divine by 1 million.
example: 3240000100000000 / 1000000 = 3240000100
you may calculate this here: https://www.wolframalpha.com/input/?i=000b82c34f086100+base+16
the same way you can check the second block and you will get 100 coins reward.
Hex data in second block
01000000c1a84e530100000000000000000000000000000000
00000000000000000000000000000000ffffffff0a52010606
2f503253482fffffffff0100e1f505000000002321034d97bd
ac88bf37a66d2775d738aa7b89d1efdae9c011fc5a70c04ccf
9807b2a1ac00000000
after this value fffffffff01 is following 8 bytes summ of transaction.
->   00e1f50500000000
convert it in big-endian and we get -> 0000000005f5e100
calculate this hex in decimal form and divine by 1 million.
100 000 000 / 1000 000 = 100

Thats all, and gl.

[AizenSou]

I agree, you seem pretty capable and so far we have 190 million "legitment" coins. If we can reduce the stake pos to 10% that would add much more value and overall much less inflation. Whos up for it? You think u can become the new dev? I have donations, bounties etc ready

Yea bro loving my 920k ACs again i will do all i can help haha, lets make sure mircyon becomes dev. and p.s anything between 1-10% POS is best

This has been interesting for sure, spent quite a bit of time today on this.  I diff'd the code against a non-malicious code and found the rest of the issues.. which would need to be patched as the first step (look for //SCAM markers): https://github.com/micryon/AsiaCoinFix/   This could be used as a starting point for anyone that wants to try and fix this.

Address would have to be blocked from transactions, *as well* as staking (I don't personally know how to prevent that part of it yet .. but it should be possible).


But I can't sign up to be the new dev here right now.... I just won't have to time commitment to see this through properly.  And I still have doubts on even if fixed, this will go anywhere..

There needs to be a more solid team put in place, headed by someone with great leadership abilities (like what mongonzo did for WC), for this to even have a chance.  The wallet code fix is just part of it (though that has now proved to be easier).  

Also need to : rebuild website, social accounts, start a new OP, work with exchanges.  Just a whole lot of marketing and coordination.  Needs to be complete team to be recruited and put in place to have any chance here.

High respect for micryon after put up much work to clarify this scam. Of course we would like to have you in the dev team for the new AsiaCoin community, but since you said about time pressure, we will need to find someone else.

Community calm down. We are all get scammed. Now is the time to try finding a solution, not to panic. We need a bounty for a dev team to take over, not a list of victims. With 1Mil marketcap we will have a list of over 100k people, who want to see this list ? Let's learn a lesson from WC, they are fine now.

Again thanks micryon for your hard work. We need people like you at this hard time.

Regards,

[Xuorc]

35k on Mintpal 

Can you not still withdraw at MintPal to a wallet?  I did last night.  

[Gusaru]

158К AC in my wallet

[MajkiSer]

49320 coin on Cryptsy