The last few days have been the most chaotic for the members and supporters and investors of the skycoin team.
This started with harassment, beating and kidnap of the of the co-founder of the skycoin team Synth and his pregnant wife
The trigger for the events was the discovery that the previous Skycoin China marketing team (EVOLAB) had embezzled approximately 100,000 skycoins over the course of the past half-year. In light of this discovery and their failure to return or account for the embezzled coins, the relationship with this team was terminated.
On the evening of June 12 2018 at 9.30 pm, Synth and his family were illegally detained for 9 hours by the Shanghai Skycoin's Chinese Community Operation Team which they changed to (EVOLAB)
Nine individuals, including/led by marketing team members Sam Sing Fong, Mary Li (李臻/李敏), Xiangdong Yan (闫向东) and Jesse Sun Fei (孙飞) burglarized Synth’s home. 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. Thanks to wallet security measures, the group was only able to extract 18.88 Bitcoin and 6466 skycoins during the robbery.
The group also tried to steal core technology information such as the design framework of the Skycoin ecosystem but failed
Synth and his pregnant wife were in shock and was absent from the project telegram's group for days .
In summary, a large amount of SKY was stolen from the foundation.
Rogue members of the Chinese marketing team embezzled it.
They tried to blackmail the skycoin team to buy the coins at twice the market price by pretending to be third party
The skycoin team declined.
They were dumping the coins during the Binance trading competition.
The remainder of their coins were frozen.
They retaliated by kidnapping, beating, and threatening Synth and his pregnant wife.
On June 13, the injured party had already called the police. The police then proceeded to investigate the case
After the incident, the Skycoin team tracked the address of the gang wallets, submitted a complaint to the major exchanges, and requested the exchanges to temporarily freeze the relevant assets of the suspects. The freezing of the assets will be handled after the investigation of the incident is clear.
As of June 20, four of the nine criminals were arrested and detained by the police. Weng, as an accomplice, has been summoned by the police and is currently under bail pending trial. Further investigation is going on in this case and details will be furnished as they become available
In order to protect the interests of skycoin holders, as a response to these events a temporary blacklisting function was implemented. The future use of this function will be subject to discussion and voting by the entire skycoin community over the next few months once obelisk is implemented
The primary skycoin exchanges were notified asking them to temporarily freeze the accounts of the criminal suspects. Frozen assets will be dealt with after the investigation has been concluded. The skycoin legal team will supply an update on the aftermath of the armed robbery at a later time.
It culminated in John Otter Petters, CFO/founder of Triple Canopy joining the Skycoin advisor board to help with skycoin security plan.
The Chinese team responsible for this were not going to lie low, They fought back and got impostors in the skycoin telegram group to create fear and panic by accusing Synth and some administrators in the skycoin group of insider’s trading based on a voice recording made by Synth that was available to everyone who was a member of the telegram group.
The messages received on the main skycoin telegram group from June 14th to June 18th far exceeded all the messages that have been received since the beginning of the year.
A lot of them were paid and sponsored attacks from detractors and competitors.
Their message was clear. To create fear, uncertainty and doubt intentionally in order to put a competitor at a disadvantage.
They came with all kinds of stories just to create fear and panic and of course traders and speculators dumped their coins while real investors were picking skycoin up at bargain prices.
The skycoin project is the most attacked project on the cryptospace because it is obvious that its technology is first class and it speaks for itself.
Considering that skycoin gives every project its own blockchain with no fees and have fixed scripting, it is clear that with time, a lot of other projects in the blockchain space will become obsolete
It didn’t take long for the co-founder Synth to bare it all and tell his side of the story in an interview with Keith Wareing where he told told the story of the kidnap, factors leading to it and the consequent implications. Link below
Up till this moment, not one person has come to dispute anything he said.
PROJECT UPDATES
While these were going on, the skycoin project team was undeterred as they continued to spread the message of the project and how it intends to provide decentralized Internet through its skywire application.
The skycoin team was very visible at the coinagenda Asia conference in Singapore from June 21-June 23 .
The skyminer the hardware for providing decentralized Internet continues to be the cynosure of all eyes both for the old and young and it stole the show at the coin agenda conference.
On their way, exploring synergies working on technology, Amit Mehta, Chief Marketing Officer of ZaggNetwork and Rohan Puri, Product Manager of ZaggNetwork met the Skycoin team at CoinAgenda Asia, Singapore
There was also a lot of interest from the NEM team as they were really fascinated by the technology skycoin is building with a view to collaborating.
HARDWARE PRODUCTS UPDATES
The skycoin project also released new routers, hardware wallets and motorized antennas which are being mass produced at the moment and shipment of these hardware products which will facilitate the main net of the skywire project should commence by Early next year when the test net is completed.
These Hardware products will form the main components of the testnet and facilitate worldwide adoption
SKYWIRE NODE UPDATES
The project at this period also marked more than 5000 active nodes worldwide at the on the skywire project.
To think that in only 2 weeks, Skywire already has more than half the amount of nodes BTC has shows you why there is a lot of FUD .
COMMUNITY COMPETITIONS
The skycoin project within this period also announced the winners of their very first Skycoin Community Video Contest .Over 30 entries were entered in the competition for prizes consisting of 1337 SKY and 3 Skyminers
The 1st Place winner was Chris Allison Prize. He won 607 SKY and 1 Skyminer.
Full result list in the link below with all the winning videos are listed in the link below
https://medium.com/@Skycoinproject/skycoin-community-video-contest-results-7d041e288d0d
The winners of the skycoin binance competition were also announced where the top 3 won gold plated skyminers.
KITTY CASH
The kitty cash commenced the Private KittyDrop today and will last till the 25th of July 2018.
KittyCash team is inviting everyone to join us in their Alpha Release of KittyCash and an opportunity get your own unique Tabby Kitty.
Total supply of Kitties available for Public KittyDrop is 40,000.
To get your own Tabby all you need to do is complete our KittyDrop submission form, which can be found below
https://docs.google.com/forms/d/e/1FAIpQLSd1YkViDDBz5G_gUfUNDinAcxR2bIjdrVNTN0sT7pFtjv5nzw/viewform
If you are an owner of the 2nd batch original Skyminer you’re eligible for 2 Kitties, please fill in this link below
https://docs.google.com/forms/d/e/1FAIpQLSeCYUlcTu5qZYTdMbI-di8J0v1rdNMaCZP50lsQ5x5HmpzVeg/viewform
Skycoin and Binance Enters a Strategic Cooperation Agreement
Skycoin has entered a strategic partnership with Binance, which will enable the Skycoin ecosystem applications to support the use of BNB, the Binance platform token.
Skycoin will support BNB in a number of ways:
- The Skycoin software wallet (desktop and mobile versions) and hardware wallet will support the storage and circulation of BNB. Users can conduct direct transactions between the Skycoin family of coins and BNB in the wallets.
- BNB will become one of the circulated currencies in the Skywire network. As seen here, Skywire is Skycoin’s decentralized Internet, which aims at building a faster, cheaper and more convenient incentive network to provide higher quality services than the current Internet. It is a peer-to-peer distributed encrypted mesh network, which means it protects privacy, security and independence. More importantly, Skywire strives to build the Internet for the future and bring equality to it. Skywire testnet has just been released to the public.
- A game developed on Skycoin’s Fiber blockchain platform called KittyCash (http://www.kittycash.com/home) will accept BNB as a form of payment. Within KittyCash you can own unique kitties and complete game transactions on the Skycoin blockchain.
- BNB payment and circulation will be adopted in all future applications developed within Skycoin to strengthen our ongoing partnership.
Skycoin also got a new listing exchange Plaak based in Australia
Plaak is a fully-fledged exchange and secure wallet all rolled into one - using state of the art biometrics for user safety.
Featuring instant deposits using Credit/Debit Card, Plaak is listing Skycoin with 5 x base pairings (USD, AUD, BTC, ETH and PLK).
This will be the first exchange in Australia to list Skycoin. This is part of our continual push on increasing Skycoin’s exposure around the globe.
SKYWIRE SKYMINER REWARDS
I have saved the best for last here.
Skyminers for skywire testnet are being whitelisted and congrats to all those whose nodes have been selected for whitelisting. The mails are being sent as I write so be patient and you will soon be contacted if you have a miner running. Emails are being sent out a few at a time
The amount of reward may vary but these are the general rewards
96 SKY per official miner monthly
6 Sky per node in a DIY miner (With a maximum of 48 SKY per DIY MinerS (8 nodes)
So despite all the supposed gloom, it has been a week of very positive week for skycoin with all the updates and continuous development.
All the recent happenings have made the price of skycoin very attractive and buying skycoin is like buying a bitcoin, ethereum, golem and steem all in one.
I still insist it is the most complete cryptocurrency out there in the space. It is one thing for the price of a project to be cheap; it is another thing to know the value.
This project has so much more going on for it than any other project. Do not be left behind. Join the movement .
Find out more at https://www.skycoin.net
Buy skycoin directly from the website @ https://www.skycoin.net/buy/
Buy from the exchanges @ Binance, Cryptopia BitRabbit, C2CX, ChaoEX
sign for skyminer waiting list @ https://www.skycoin.net/skyminer/
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