Bittrex Posted Stance on the STEEM/HIVE

in hive •  2 months ago 

I think i dont need to write what happened today but literally minutes ago Richie from Bittrex added text.



Yesterday Bittrex put out an announcement about the Steem network version 0.23 proposed hard fork. Our position on the hard fork remains the same - this is a contentious hard fork. We closed deposits and withdrawals of STEEM and SBD at approximately 21:00 PT on May 19, 2020, and we continue to carefully monitor the proposed hard fork.

This morning, someone deposited 23,627,501 STEEM to the main Bittrex holding account. What happened during the hard fork and the allegation that the “community321” account was hacked outside of the Bittrex ecosystem are two separate issues. We cannot conflate these two issues.

First, because these funds were sent to our holding account without the proper identifying memo, we must review the facts of this transfer in order to return these funds to the original wallet owner provided the owner or owners of the wallet can prove the funds belong to them. In cases like this, if someone is claiming they are a victim of hacking, we ask for proof of ownership before we return the funds to the person or people who claim they were hacked.

Second, the implementation of the Steem network version 0.23 fork has understandably generated significant controversy. We wish the entire Steem community could have addressed legitimate concerns in a manner which was viewed as fair by everyone. While I am among those frustrated by the outcome, my own personal feelings do not matter. The fact is, we only interpret the data on the blockchain, and in this case, the consensus of the blockchain, regardless of how it was reached, agreed that the funds from those 64 accounts be moved to the “community321” account.

We believe in the sanctity of blockchain, and as an industry, we need to adhere to the consensus rules of the blockchain without interjecting whatever our personal opinions might be. If we want blockchain to succeed, we must live by the rules of the blockchain.

Bittrex is a no1 spot i trust my money with, been with them since their very start when they were gaining popularity. I wonder how this is going to end.

Surely todays day is one of the craziest in crypto due to HF itself, then whitehat sending to Bittrex.

This is going to make press about HIVE/STEEM and all this big again just like initial split/fork.

Bittrex BTC/HIVE Chart


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i upvote alot, that is true!

Very true

True story!! I saw that! Even on my recent post haha! Thanks a lot for that my friend! ❤️
cheers, liz

indeed =]

Shit like this gets my blood pumping 💪 It’s like a movie 📽🎞

I make the pop corn

Extra butter please 🧈🧈🧈🍿

I just have fries


movie could come from all this indeed ;)

It sounds like they are not even considering the return of the money to the 64 accounts that it was taken from. They are going to defer to the decision of the blockchain.

It is only whether the one account was hacked or not.

That is what they are looking to research.

Posted Using LeoFinance

Yeah, sounds to me like White Knight should have sent the funds to blocktrades instead of Bittrex. I can understand Bittrex wanting to be neutral in deciding what SHOULD have happened on the blockchain. Unfortunately, that means it will become a legal case in deciding who rightfully owns the funds.

they are in a hard role which can make precedences. we will see how this goes

Hopefully users funds will be returned to the rightful owners in an orderly manner.

Hard to know that that will happen, by the sound of it bittrex legal team says ship the steem and sbd back to the steemit chain and let whoever has the keys resolve it. Unless I'm interpreting it incorrectly....

law/legal stuff is often whats not logic tells. i had been to court few times and learned it

This issue is more exciting than my brother’s love life. But on the serious note, may the rightful owners have their money back.

tell us about the brother!

That's the sad thing. He ain't got any. 😅😅😅

I think that Bittrex will return the funds to community321 account @kingscrown because it got "hacked". So all community321 has to prove that it got hacked.

You mean Justin Sun has to show proof that his account @community321 was hacked... Well, it's all over the blockchain.

By the looks of it, Justin will get the Steem back... SMFH

@kingscrown Bittrex Should do the right thing! Stolen funds should be returned to their rightful owners.

they have law oligatories, no idea what they can do

My take is that bittrex will return the funds to community321. Don't think they would like to get involved in this mess. There are chances though for them to do the work and return that STEEM to its actual owners.

i think so too

Thanks for updating

no problem

Your post has been boosted with ESTM. Keep up the good work!
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