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Home » Interesting » Bitcoin Gold Users Lost More Than $ 2.5 Million And Accused The Project Of Fraud

Bitcoin Gold Users Lost More Than $ 2.5 Million And Accused The Project Of Fraud

bitcoin gold

In the night from 13 to 14 November, more than 3200 users wallets have been delited by hackers as a result of the vulnerability of the only BTG-wallet Mybtgwallet. According to preliminary estimates, the losses amounted to 300 BTC and BTG 300 that already exceeds $2.5 million.

A group of affected users has organized Slack channel under the name Concorde. They convinced that even if the team Bitcoin Gold has not implicated in the fraud directly, it has provided a broad cyber criminals to steal coins.

Bitcoin Gold team attracted a third party to develop a suitable ecosystem in the form of the e-wallet to generate BTG address. This third party was the developer John Dass, who received the status of "DEVELOPER" and openly urged all users to choose his wallet.  BTG team confirmed cooperation with John Dass, and Mybtgwallet has called a safe wallet.

btg stolen

“You can import it in the form of a BTC-sid in Mybtgwallet,” replied John Dass to one of the miners who set up the payment of coins.

When the BTG network launched, Mybtgwallet was the single way to generate the BTG address for the miners, except downloading the full node to your server. The weight of the full node was 147 gigabytes, and its download was very problematic for many, respectively, they generated the address through the wallet, where it was necessary to enter the sidd-phrase from the BTC-wallet.

It has assumed that the hackers had access to the sid-phrases and took advantage of this to steal the funds.

On November 12, Bitcoin Gold announced the launch of its own wallet

On Sunday, November 12, representatives of Bitcoin Gold announced the launch of its own wallet.

The team behind Bitcoin Gold said in Twitter that both wallets are safe:

btg2

Later the Bitcoin Gold team issued a statement in which they distanced themselves from the development of third parties, noting that they were not responsible for the John Dass actions.

Meanwhile, users claim that approximately a month before the launch of theBitcoin Gold main network site hacked and the attackers replaced the official Twitter address with a fake one. There were no statements from the developers on this matter. We can assume that they were afraid of negative public opinion on the threshold of the launch and concealed this fact from the community.

According to the source, a group of eight people, under the auspices of the business angel, who heads the victims, is in talks with the developers. This group has set the following conditions for the Bitcoin Gold team and Jack Liao:

"A full refund on November 14-15, or lawsuits against Liao and each member of the team for complicity in the crime."

On the conditions the developers were given only 24 hours. According to representatives of initiative group for the refund, the team of BTG told them that at the moment, working with the FBI to refund money.

On Tuesday, November 21, it became known that the group of users affected by the fraudulent activities, decided to embark on the path of war and to sue the team Bitcoin Gold in fact aiding the attackers, who escaped with $2.5 million moreover, they claim, representatives of the developers threatened them complete non-cooperation in the case of disclosure the situation in the media.

Recall earlier it became known that the BTG mining pool Suprnova sabotaged the network for six days, not supporting the Segregated Witness protocol and not confirming the blocks with transactions involving this protocol. Thus, the network was partially paralyzed for about three days, and many transactions are blocked.

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