Moving Coins, Data Breaches, and Magical Authors: Bad Crypto News of the Week

Sunday 7 May 2020, 7:30 AM AEST - 1 week ago

Its been a good week for Bitcoin. The halving doesnt seem to have done the top cryptocurrency any harm at all, with the dollar value up more than 8 percent over the previous week. Ethereum is up more than 10 percent which just shows that the opportunity for blockchain-based solutions are still red-hot. If youre taking that opportunity to issue tokens or digitized assets and seeking legal counsel with respect to securities and regulation then you should speak to Josh Lawler at law firm Zuber Lawler. They sponsor the Bad Crypto podcast and theyre specialists in developing technology, including the blockchain.

One person who understands the blockchain better even than Josh Lawler is Satoshi Nakamoto, and it looks like the mystery inventor has been busy. Fifty Bitcoins mined as early as a month after the launch of the Bitcoin mainnet have just moved to two different Bitcoin wallets. Its not certain that the coins are Nakamotos stash but few people were mining with the original Bitcoin client eleven years ago. Craig Wright said that he didnt move the coins, which is a problem because he also told a US court that the address belongs to him. Oops.

In another mystery move, about $6 million worth of STEEM has been rescued in an anonymous transaction on the Bittrex exchange. The tokens, from 64 Steem accounts, were supposed to move to an account called community321 as part of a hard fork designed to stop malicious attacks on the network. The account has asked Bittrex to give them back.

And in an even stranger move Crypto YouTuber Vin Armani has packed his family off to the Northern Mariana Islands. Hes preparing for the zombie coronavirus apocalypse.

With all of that strange movement, its refreshing to read a move that didnt happen. Crypto lender BlockFi has reported a data breach. But no customer funds were lost, it says, which is more than Steems hard fork can say. And it turns out that ISIS isnt really moving Bitcoin around to fund its evil ways. It doesnt even have $300 million in a

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