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Author Topic: Blowing the lid off the CryptoNote/Bytecoin scam (with the exception of Monero)  (Read 132816 times)
Febo
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August 11, 2017, 01:49:21 PM
 #601

I think BCN is close to be desisted from Poloniex, so they need to do something.  Next delisting is coming fast. And Poloniex will delist like 10 coins to make space for new coins.  
BCN guys are way to smart to just let it happen without fight.
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b4h4mu7
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August 11, 2017, 02:19:50 PM
 #602

Aren't you the same dooshbag tool that invited Ryno out for beers at a beach bar and then showed up in a full business suit? LOL! Then you turn around and mounted coordinated attack on his project? What a stand up guy you are. It seems your Oasis DNM scam worked out well for you. You're even able to donate to the forums now.

Nope, not me. Ryno came through to Plett and we had an excellent lunch at The Grand, I was wearing shorts and a t-shirt. Summer's in Plett are cooking!

I have not ever been involved with any DNM on ANY level, much less Oasis. You're currently sitting 0 for 3 on your last few statements, you seem to be confused about a lot of things.

I know the place very well. As far as I remember he told me you showed up in a jacket and a smart shirt in the middle of summer and I don't take him for a liar. LOL. So you broke bread with him then turned around and mounted a full scale smear campaign on his project.. lovely stuff.

Of course for obvious legal reasons any proper scammer would deny their involvement in the Oasis exit scam. Let's be real here - it was a real scam whose only purpose was to get another DNM to add XMR, people lost money and your project reaped the benefits. At best the Bytecoin team is making fraudulent claims about their 2012 launch but they're far from a real scam. The devs are still making commits to their project and they did contribute exciting technology to the crypto community. While I don't agree with their roll out the fact remains that they didn't directly scam anyone out of money like is the case with Oasis and XMR which according to themerkle.com now ranks in top 3 exits scams.

https://themerkle.com/top-3-recent-darknet-market-exit-scams/

Even though I disagree with your methods I must say they are very effective.
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August 11, 2017, 02:38:47 PM
 #603

I know the place very well. As far as I remember he told me you showed up in a jacket and a smart shirt in the middle of summer and I don't take him for a liar. LOL.

So first it was a full business suit, now it's a jacket and smart shirt?

And just to clarify - if I wore a t-shirt then it'd be fine?

So we're judging entire projects based on the clothing that one person chooses to wear?

I mean, if I knew that was the case I would pay more attention to my shoe choice in the morning.

So you broke bread with him then turned around and mounted a full scale smear campaign on his project.. lovely stuff.

Not really sure what you're talking about.

Of course for obvious legal reasons any proper scammer would deny their involvement in the Oasis exit scam.

SO WOULD AN INNOCENT PERSON, YOU IMBECILE.

At best the Bytecoin team is making fraudulent claims about their 2012 launch but they're far from a real scam.

They released something, and lied so that they would own 82% of the tokens and could offload them on the market under the auspices of there being a much wider distribution. That's the very definition of "directly scamming [someone] out of money".

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August 11, 2017, 02:41:22 PM
 #604

I think BCN is close to be desisted from Poloniex, so they need to do something.  Next delisting is coming fast. And Poloniex will delist like 10 coins to make space for new coins.  
BCN guys are way to smart to just let it happen without fight.

Poloniex is a ponzi exchange and IMO a honeypot. I'd stay away from them. I have friends would have millions in crypto frozen there with slim chances of withdrawal. They had to hire an attorney to get them to begin the withdrawal process and nine months later its still ongoing. If they're freezing large amounts of funds it means theres a liquidity issue. That's probably why they impose their own internal fiat level KYC/AML standards on a crypto-to-crypto exchange to prevent large withdrawals. There is no law or statue that compels them to enforce AML/KYC on crypto-to-crypto exchanges. Interestingly their rise to popularity is also a direct result of Monero's Oasis DNM scam since they were the main XMR exchange.
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August 11, 2017, 03:15:35 PM
 #605


I know the place very well. As far as I remember he told me you showed up in a jacket and a smart shirt in the middle of summer and I don't take him for a liar. LOL. So you broke bread with him then turned around and mounted a full scale smear campaign on his project.. lovely stuff.

Of course for obvious legal reasons any proper scammer would deny their involvement in the Oasis exit scam. Let's be real here - it was a real scam whose only purpose was to get another DNM to add XMR, people lost money and your project reaped the benefits. At best the Bytecoin team is making fraudulent claims about their 2012 launch but they're far from a real scam. The devs are still making commits to their project and they did contribute exciting technology to the crypto community. While I don't agree with their roll out the fact remains that they didn't directly scam anyone out of money like is the case with Oasis and XMR which according to themerkle.com now ranks in top 3 exits scams.

https://themerkle.com/top-3-recent-darknet-market-exit-scams/

Even though I disagree with your methods I must say they are very effective.

Hello. It looks like you are doing the same thing you are accusing someone of. Also, I would like to know how making fraudulent claims is being far from a real scam. If it is fraud,,, it actually qualifies as a scam. Two, three, four, infinite rights do not adjust a wrong. Did they apologise and correct their error?

Besides, if any of this were true, you should get a reward for helping identify the real people behind Oasis.

.
..........
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August 11, 2017, 03:16:36 PM
 #606

Poloniex is a ponzi exchange and IMO a honeypot. I'd stay away from them. I have friends would have millions in crypto frozen there with slim chances of withdrawal. They had to hire an attorney to get them to begin the withdrawal process and nine months later its still ongoing. If they're freezing large amounts of funds it means theres a liquidity issue. That's probably why they impose their own internal fiat level KYC/AML standards on a crypto-to-crypto exchange to prevent large withdrawals. There is no law or statue that compels them to enforce AML/KYC on crypto-to-crypto exchanges. Interestingly their rise to popularity is also a direct result of Monero's Oasis DNM scam since they were the main XMR exchange.

Utter nonsense - I've just been on a call with a law firm in the USA, and they confirmed that at least half the states in the USA have licensing and AML/KYC requirements for crypto-to-crypto pairs.

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August 11, 2017, 04:04:29 PM
Last edit: August 11, 2017, 04:39:31 PM by b4h4mu7
 #607

I know the place very well. As far as I remember he told me you showed up in a jacket and a smart shirt in the middle of summer and I don't take him for a liar. LOL.
[1]
So first it was a full business suit, now it's a jacket and smart shirt?

And just to clarify - if I wore a t-shirt then it'd be fine?

So we're judging entire projects based on the clothing that one person chooses to wear?

I mean, if I knew that was the case I would pay more attention to my shoe choice in the morning.

So you broke bread with him then turned around and mounted a full scale smear campaign on his project.. lovely stuff.
[2]
Not really sure what you're talking about.

Of course for obvious legal reasons any proper scammer would deny their involvement in the Oasis exit scam.
[3]
SO WOULD AN INNOCENT PERSON, YOU IMBECILE.

At best the Bytecoin team is making fraudulent claims about their 2012 launch but they're far from a real scam.
[4]
They released something, and lied so that they would own 82% of the tokens and could offload them on the market under the auspices of there being a much wider distribution. That's the very definition of "directly scamming [someone] out of money".

[1]
A sports coat/jacket and a smart shirt in the heat of summer might as well be a full business suit. I called you a dooshbag, because you are dooshbag. I'm not judging your project based on your attire, I'm judging it by the actions of you, your team and its toxic community.

[2]
Yes, you do.

[3]
I'm sure you have nothing to worry about, just keep pleading innocent.

[4]
I'm not justifying their actions if that was their original intention, I'm saying that maybe there is another side to the story outside of your scam accusations. They did release a groundbreaking cryptosystem although they didn't market it to the wider audience. There are some cryptic messages in their system so maybe the project was intended for that smaller community as a research project and then later they decided to release it to a wider audience. If this was the case, then it wouldn't be a scam it would just be a failure to factor in wider adoption. We'll have to hear their side of the story before we can make any concrete assumptions. I highly doubt a team of researchers would spend years developing a cryptosystem with the original intentions to pump and dump their holdings. It's more reasonable and logical to assume they spent years developing this cryptosystem to advance transactional privacy over the original Bitcoin project.

According the research from https://www.reddit.com/user/MR_CHNYD Alan Miers seems to be the chief architect of Cryptonote although his original repo doesn't have a snapshot. "Johannes Meier" is listed on Cryptonote.org as their chief cryptographer so one can safely assume it was his alias. Maybe the whitepaper was altered to remove his github link and name from the Cryptonote whitepaper. He also created cryptonote.me, most likely to introduce plausible deniability of his involvement in the project. Additionally, he was also a founding member of the Stanford University Bitcoin Group (https://angel.co/cognitohq/jobs). That doesn't strike me as someone who is looking to scam people with a pump and dump.

https://web.archive.org/web/20131020133207/https://cryptonote.org/

Taken from reddit:

---- On Fri, 30 May 2014 16:41:59 -0700 ***<@*> wrote ----

Good afternoon,  

I was hoping to hear more details about the developers of ByteCoin.  
There are rumors and fear being spread around online saying that  
basically 80% of the ByteCoins were ninja-mined from 2012 up until BCN's  
recent "public release". I'm not sure how a cryptocoin is supposed to  
survive if it was mined to 80% by a smaller group of people. I can  
confirm on the blockchain that 83% of the coins are mined already, but I  
was wondering if CryptoNote had any historical information or more  
details about working with ByteCoin devs? Who and how many people  
actually mined these 154 billion coins?  

Thank you for your time,  
*****  

Dear *****,

It is not of our interest to judge the decisions of Bytecoin developers and its outcomes. The coin was indeed released in July 2012 in a cooperation with us. Bytecoin developers are killer coders and are responsible for the vast majority of the CryptoNote's current code base. However, when the coin was released the two teams took completely different paths. CryptoNote went back to the researches, while Bytecoin was focused on building the cryptocurrency and the community.

There are polar views on the current distribution of Bytecoin. What we can confirm is that the coin indeed had several groups of early adopters (related to scientific, educational, and gaming industries) and is likely to be spread among at least a thousand users (may well be more).

I hope this helps.

Best,
Catherine

"Take that as you will. I would be most apt to trust what cryptonote.org said because they are the original developers of the protocol and everything seems to line up with their backgrounds. You can see that Alain graduated from Stanford and is involved in programming and design, and has gone on to be successful with many other projects. He was also a founding member of the Stanford University Bitcoin Group (https://angel.co/cognitohq/jobs)."

https://www.reddit.com/r/BytecoinBCN/comments/6cxz55/going_down_the_rabbit_hole_an_exploration_of/?st=j680pqsz&sh=ca5de910


Moral of the story here is you and your team made it out that they had negative intentions when maybe they didn't. You built your whole project on the foundation that it was a scam. To me, it looks like they tried to cover links to their real names before releasing Bytecoin/Cryptonote to the general public. I haven't seen any proof of them directly scamming holders out of funds as I have with the Monero-Oasis scam. In fact, Bytecoin only recently achieved all time highs and their devs are promising more development. Only time will tell what will come of it.
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August 11, 2017, 04:23:42 PM
Last edit: August 11, 2017, 04:45:09 PM by b4h4mu7
 #608

Poloniex is a ponzi exchange and IMO a honeypot. I'd stay away from them. I have friends would have millions in crypto frozen there with slim chances of withdrawal. They had to hire an attorney to get them to begin the withdrawal process and nine months later its still ongoing. If they're freezing large amounts of funds it means theres a liquidity issue. That's probably why they impose their own internal fiat level KYC/AML standards on a crypto-to-crypto exchange to prevent large withdrawals. There is no law or statue that compels them to enforce AML/KYC on crypto-to-crypto exchanges. Interestingly their rise to popularity is also a direct result of Monero's Oasis DNM scam since they were the main XMR exchange.

Utter nonsense - I've just been on a call with a law firm in the USA, and they confirmed that at least half the states in the USA have licensing and AML/KYC requirements for crypto-to-crypto pairs.

Bullshit. Show me a law that has compelled Poloniex to collect user data since 2014 for crypto-to-crypto exchanges. Bittrex is also licensed in the same country as Poloniex and all their owners are listed on their website. If I remember correctly they both started out in Washington State. How come they haven't been practicing the same data collection policy as Poloniex? Because there is no law. If there were, Bittrex would be in the news for violating the law. FINCEN is a federal entity not a state one. If there were compliance issues it would be at the federal level since it deals with interstate commerce. Your "law firm" should of explained this to you.

I trust the Bittrex team much more than I trust anyone from Polo. The only time one needs to register as a MSB is if they are transacting in fiat currency thereby they have to comply with AML/KYC. The US does not classify cryptocurrency as legal tender (yet) and therefore it is not subject to the same laws as fiat. I'm really surprised that you haven't informed your community about their unjustified data collection.

Edit: BTC-e was recently taken down by FINCEN and other agencies for not registering as a U.S. MSB even though they were a foreign corporate entity operating on foreign soil. They accepted wire transfers and bank deposits from U.S. citizens which made them subject to US law (in the eyes of FINCEN). If Bittrex was in violation they would of went down a long time ago.

Bottom line: Polo is a ponzi honey pot. The quicker people realize this, the quicker they will remove their funds.
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August 11, 2017, 04:58:35 PM
 #609

According the research from https://www.reddit.com/user/MR_CHNYD Alan Miers seems to be the chief architect of Cryptonote although his original repo doesn't have a snapshot. "Johannes Meier" is listed on Cryptonote.org as their chief cryptographer so one can safely assume it was his alias. Maybe the whitepaper was altered to remove his github link and name from the Cryptonote whitepaper. He also created cryptonote.me, most likely to introduce plausible deniability of his involvement in the project. Additionally, he was also a founding member of the Stanford University Bitcoin Group (https://angel.co/cognitohq/jobs). That doesn't strike me as someone who is looking to scam people with a pump and dump.

And rekt in 3...2...1...



Link to original Tweet in August 2014: https://twitter.com/alain/status/500765479393177601


You're 👏🏼 getting 👏🏼 scammed 👏🏼 and 👏🏼 you're 👏🏼 too 👏🏼 dumb 👏🏼 or 👏🏼 too 👏🏼 naïve 👏🏼 too 👏🏼 realise.

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August 11, 2017, 08:12:02 PM
 #610

I think it is hilarious how half of b4h4mu7 "defenses" of bytecoin are clearly and verifiably (with facts, something b4h4mu7 is unable to grasp the concept of) proven as lies in OP's original post from 2014, while the other half are either changes of topic or personal attacks. Unfortunately with the new influx of money in Bytecoin, this will be more and more common. Like a smart man once said "As long as there are stupid people, there will be scammers". Go away b4h4mu7 and don't post your shit-garbage here again.
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August 11, 2017, 11:57:02 PM
 #611

Poloniex is a ponzi exchange and IMO a honeypot. I'd stay away from them. I have friends would have millions in crypto frozen there with slim chances of withdrawal. They had to hire an attorney to get them to begin the withdrawal process and nine months later its still ongoing. If they're freezing large amounts of funds it means theres a liquidity issue. That's probably why they impose their own internal fiat level KYC/AML standards on a crypto-to-crypto exchange to prevent large withdrawals. There is no law or statue that compels them to enforce AML/KYC on crypto-to-crypto exchanges. Interestingly their rise to popularity is also a direct result of Monero's Oasis DNM scam since they were the main XMR exchange.

Utter nonsense - I've just been on a call with a law firm in the USA, and they confirmed that at least half the states in the USA have licensing and AML/KYC requirements for crypto-to-crypto pairs.

Bullshit. Show me a law that has compelled Poloniex to collect user data since 2014 for crypto-to-crypto exchanges. Bittrex is also licensed in the same country as Poloniex and all their owners are listed on their website. If I remember correctly they both started out in Washington State. How come they haven't been practicing the same data collection policy as Poloniex? Because there is no law. If there were, Bittrex would be in the news for violating the law. FINCEN is a federal entity not a state one. If there were compliance issues it would be at the federal level since it deals with interstate commerce. Your "law firm" should of explained this to you.

I trust the Bittrex team much more than I trust anyone from Polo. The only time one needs to register as a MSB is if they are transacting in fiat currency thereby they have to comply with AML/KYC. The US does not classify cryptocurrency as legal tender (yet) and therefore it is not subject to the same laws as fiat. I'm really surprised that you haven't informed your community about their unjustified data collection.

Edit: BTC-e was recently taken down by FINCEN and other agencies for not registering as a U.S. MSB even though they were a foreign corporate entity operating on foreign soil. They accepted wire transfers and bank deposits from U.S. citizens which made them subject to US law (in the eyes of FINCEN). If Bittrex was in violation they would of went down a long time ago.

Bottom line: Polo is a ponzi honey pot. The quicker people realize this, the quicker they will remove their funds.

FinCEN issued guidance on this over 4 years ago. https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf Crypto to crypto exchanges in the United States or involving US persons require MSB registration with FinCEN and AML/KNC compliance. Bold my emphasis the law is shown.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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August 12, 2017, 12:19:30 AM
Last edit: August 12, 2017, 04:12:53 AM by smooth
 #612

As I said, I found it through a Google search looking for Bytecoin[BTE] although I may of made a mistake on the year. It was shortly before or after I started mining Darkcoin and that was in January of 2014. I truly must be a scammer since I mined both projects.

https://bitcointalk.org/index.php?topic=421615.msg4810924#msg4810924

The earliest web archive puts Bytecoin's snapshot in February of 2014 not March, but I could of sworn I found it much earlier than that.

Yes, the end of February. It is quite possible that you mined Bytecoin starting around March of 2014 (or possibly very late February) which was more or less the same time it appeared on this forum and the rest of us started mining it, by which time it had already been fraudulently 80% pre-mined with a phony backstory dating to 2011.

So if your (latest) story is to be believed you 'made a mistake' about the year and fall into the useful idiot category.

Quote
To me, it looks like they tried to cover links to their real names before releasing Bytecoin/Cryptonote to the general public.

Covering links is one thing, and done by many in crypto who remain anonymous. A hidden 80% premine and a host of other (known; I'm sure there are many unknown too) sock puppet projects all of which turned out to be scams is something else.

According the research from https://www.reddit.com/user/MR_CHNYD Alan Miers seems to be the chief architect of Cryptonote although his original repo doesn't have a snapshot. "Johannes Meier" is listed on Cryptonote.org as their chief cryptographer so one can safely assume it was his alias. Maybe the whitepaper was altered to remove his github link and name from the Cryptonote whitepaper. He also created cryptonote.me, most likely to introduce plausible deniability of his involvement in the project. Additionally, he was also a founding member of the Stanford University Bitcoin Group (https://angel.co/cognitohq/jobs). That doesn't strike me as someone who is looking to scam people with a pump and dump.

Explicitly denied on this thread. Maybe he's lying who knows. I do respect his privacy so I'm not going to dig into it further.

Alain here from the Stanford Bitcoin Group. I am not related to the CryptoNote project at all, nor is the Stanford Bitcoin Group. I started an open source project called Cryptonote (https://github.com/alainmeier/cryptonote) in May 2013 and then was approached in March 2014 by someone from the CryptoNote cryptocurrency project who wanted to buy the domain, so I sold it to them. It's just an unfortunate coincidence.

What does appear to be the case is the original scam group liked using bogus references to famous universities (e.g. Princeton) as polish to bolster their own reputation. It is possible the similar name was used to imply some connection to Alain Meier and/or the SBG (and they apparently knew of him since they bought his domain).

Who is this "MR_CHNYD" BTW? Someone credible with a reputation, or yet more sock puppet social engineering (or perhaps useful idiot; who can say)?

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August 13, 2017, 05:49:27 PM
 #613

Has anybody been watching the recent re-developments on bytecoin? Some new (and alleged) Bytecoin Official has arisen -- Jenny?

Jenny says all is well and Bytecoin is in fact still in R&D. She's in the know.

She's arguing her case on Reddit.

Github is active, as of 6 days ago. New "open source" product now?

How does this change things?

Don't we still have the scammy launch?

I post on Reddit under "Danesjold." In the Bytecoin forum, my last post was titled https://www.reddit.com/r/BytecoinBCN/comments/6sp00o/warning_bells/ Warning Bells."

Anyone care to chime in on Reddit?


I gave BCN_Official (Jenny) negative trust after they showed up on the Bytecoin thread below. Many are asking for proof - also asking where are the old dev's Rias / Ullo etc etc...

https://bitcointalk.org/index.php?topic=512747.msg20749481#msg20749481

Anyhow, I don't know what's really happening, but there seems to be  a lot of new shills over there proclaiming it to be the "Best" etc etc... Roll Eyes   

Lastly, amjuarez, the github coder has been active and I believe released a new wallet. The main thing over there is the problem with poloniex having the wallet disabled. They are even pushing a change.org petition to have them open the wallet...  Roll Eyes

That post has been deleted. Big surprise there.

“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
Melbustus
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August 16, 2017, 02:24:57 AM
 #614

Has anyone estimated the amount of work required to fake the chain?

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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August 16, 2017, 05:44:40 AM
 #615

Has anyone estimated the amount of work required to fake the chain?

It was tiny considering that the de-optimized miner was about 100x slower than a reasonable not-stupid one and 200x slower than a clever/optimized one. I don't know the numbers though.
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August 16, 2017, 03:42:58 PM
 #616

Has anyone estimated the amount of work required to fake the chain?

Using the benchmarks from here: https://www.servethehome.com/monero-mining-benchmarks-select-dual-intel-xeon-e5-systems/ we can figure that something like a Xeon E5-26870 V1 (available since March 2012) can do about 375h/s. As you can see in the image below, the Bytecoin hash rate averaged at like 1500h/s for the duration of its fake existence (about 20 months).



So basically if they had 8x of those CPUs they could've generated it in 10 months. And if they had 80x of them they could have done it in a month. Given the AWS cost at the beginning of 2014 it wouldn't have been insanely expensive to just use AWS for it; if I had to hazard a guess I'd say $20k or less in AWS cost.

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August 16, 2017, 09:40:40 PM
 #617

^^
Thanks guys, appreciate the info.

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August 18, 2017, 01:49:40 AM
 #618

I feel relieved with Monero and stable
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August 18, 2017, 01:52:42 AM
 #619

Hey!!!  Very nice and helpful to you on this topic
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August 18, 2017, 01:56:36 AM
 #620

Great work, of which the number should not be understated, on the OP. you should try
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