It’s strange how quickly a project can take a 180 degree turn. Crowd Machine was just recently developing a replacement for Amazon Web Services. Today, it’s existence is questionable. Last Saturday, the company’s crypto wallet was hacked. The hacker managed to acquire a large number of the app’s Crowd Machine Compute Tokens (CMCT). To make matters worse, according to Etherscan, the stolen tokens are over 1 billion.
The worst part is, most tokens were instantly transferred to different exchanges. This didn’t go unnoticed and the price quickly fell by a staggering 87% according to CoinMarketCap. The Crowd Machine team quickly responded stating:
“We are doing the best we can to resolve this unfortunate issue as quickly as possible”
Biggest HODLers in Crypto Revealed: Crypto Exchanges
Wednesday October 09, 2019
HODLing has always been ridiculed by some investors, and seen as a saving grace by others. It’s completely natural that a lot of people wanted to make a quick profit out of bitcoin and the biggest HODLers had the resources to accumulate large amounts of cryptocurrency without selling even during the $20K peak. Exchanges are
Crowd Machine investors lost almost everything
The year in general hasn’t really been good for Crowd Machine. Two very respected Blockstream developers left one of the most prominent startups to join the team. The first one, Ben Gorlick, became a CTO and according to his LinkedIn, he no longer works with Crowd Machine. The other developer, Johnny Diley, who was appointed as chief of the system architecture is as well no longer linked with the company. According to Saeed Al Darmaki, who is a former advisor to the project, he left last month due to not being paid what he was promised.
The company’s goal is to create a globally distributed cloud, kind of like Amazon Web Services. The cloud however, will not be subject to the control of one company or suffer from a single point of failure. The company’s website states that the project is set to be released in the fourth quarter of 2018. Another event that further dragged the company’s reputation down is the pre-sale of CMCT tokens earlier this year. There were a total of 390 planned daily sales, but they have been discontinued with no additional information released. This has of course opened up speculation as it’s always implied by the lack of new information. Many believe that the hacks were supported by an inside man.
Two exchanges were used to dump the tokens: Bittrex and Idex. Idex quickly released a statement on twiiter saying it’s delisting CMCT because of “suspisious activity” The project has indeed had a terrible year and by most accounts, seems to be finished. Unfortunately, this development will be a ripple in the water. Attacks and ICO schemes are on the rise and some heavy measures need to be taken.
BW will launch OMC on To the Moon!
Wednesday October 23, 2019
Since the launch of BW To-the-Moon program, total of fourth seasons were launched. The soaring growth allowed many users to gain profits. Especially for OAS, ECO and VMC, those projects have continuously reached new highs. BW will continue to list quality projects on To-the-Moon, please stay tuned. BW is now announcing that OMC will be
Around 1$ Billion were stolen in cyber attacks in 2018 so far
Kraken has been flooded with Tether (USDT) Tokens, despite the downtrend
MasterCard and Visa consider ICOs in the “high risk” investment category
Augur predictions platform disapoints with user Experience (UX) and Interface (UI)
The post Crowd Machine Token lost 87% value after large amounts were stolen appeared first on CoinStaker | Bitcoin News.
TON vs SEC: What Is Telegram’s Next Move?
Monday October 14, 2019
Coinspeaker TON vs SEC: What Is Telegram’s Next Move?In an interesting but not entirely surprising turn of events, the United States Securities and Exchange Commission (SEC) has asked Telegram to halt issuance of its forthcoming GRAM tokens. In a press release dated Oct. 11, the Commission said that it had already “filed an emergency action”