Skycoin continues to keep its funds frozen as a result of latest theft from the network’s marketing team.
As it describes itself, Skycoin is “the most advanced blockchain platform in the world.” Recently, it recorded a massive transaction that occurred in the period when Binance announced the collaboration with Skycoin.
Robbers took as hostage CEO’s family
Announced on 18th June via Skycoin‘s website, the platform has suffered a “burglarization” having as suspects the marketing team members (including Sam Sing Fong, Mary Li (李臻/李敏), Xiangdong Yan (闫向东) and Jesse Sun Fei (孙飞)). According to the accusations of the chief executive officer known as Synth, on 13th June, nine individuals have snapped into his house, taking his family as hostages for 6 hours while culprits have been desperately searching to extract funds and other
“They proceeded to hold Synth and his wife against their will for 6 hours, over the course of which they threatened, beat and robbed them,” the statement reads.
“Thanks to wallet security measures, the group was only able to extract 18.88 Bitcoin and 6466 skycoins during the robbery. The gang also attempted and failed to steal the design framework for the skycoin ecosystem,” reported Skycoin.
Critics linked the incident at Skycoin with the one occurred around Coinbase platform when announcing it would list Bitcoin Cash in December 2017.
To prevent robbers from trading stolen funds, Skycoin has announced crypto exchanges with which it collaborates to freeze assets. It’s not known in what proportion exchanges have taken into account possible risks, but it’s certain that the decision has positively influenced the crypto market.
“According to feedback from exchanges, the accounts holding stolen skycoins have been frozen, so any further impact on the market should be limited. Though some panic selling seems to be continuing, as of this writing the market price has recovered by approximately 30%,” the announcement revealed.