BitClub Network Mines a Colossal Fee
On April 26th a transaction worth 316 Bitcoins processed across the blockchain but 291 BTC mistakenly went to the mining fee. The 136,000 dollar mistake found its way to the mining organization called BitClub Network. The fee error seems to be a record-setting block, but it ‘s hard to locate the original address due to the fact the fee occurrence was mixed with many other transactions. Block 409008 has revealed a pretty big fee mistake as a transaction had cost a user or group of users 136,000 paid to miners. The blunder had caused an uproar on social media pages and forums as the story....
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The way things stand right now, Bitcoin Unlimited has 35.8% miner support. It appears as if the BitClub mining pool has had a change of heart recently. Albeit the company mined a Bitcoin Unlimited block before, it was a slightly different type. To be more specific, it was a block that did not properly signal BU alone. That has changed as of now, with at least three BU-only blocks being mined by the pool in rather quick succession. BitClub Supports Bitcoin Unlimited Now? It is rather surprising to see BitClub still support Bitcoin Unlimited right now. When the pool mined its first BU-esque....
A bitcoin transaction with a 291 BTC fee worth $136,700 was processed as part of block 409,008 on the bitcoin network today, sparking speculation as to the nature of what many are considering a colossal error by an unknown user. The fee, one of many sent daily to pay bitcoin’s mining network for processing, managed to draw attention on social media due to its notable size. The average cost to clear a transaction on the bitcoin network was 31 satoshis, or roughly $0.01 at press time, a factor providing evidence of a potentially erroneous transaction. Now, bitcoin mining pool BitClub, which....
A Nevada man has acknowledged to participating in the money laundering plan for the Bitclub Network, a $722 million fake crypto operation. Gordon Brad Beckstead of Henderson, Nevada, pled guilty Friday in connection with the Bitclub Network scheme, the US Department of Justice reported. Beckstead, 57, entered a plea of guilty by videoconference in a […]
A Nevada man has admitted his role in laundering funds solicited for the Bitclub Network, a $722 million fraudulent cryptocurrency scheme. He also pleaded guilty to tax offenses.
Bitclub Network Investor Pleads Guilty
The U.S. Department of Justice (DOJ) announced Thursday that Gordon Brad Beckstead, a 57-year-old from Henderson, Nevada, has pleaded guilty in connection with the Bitclub Network fraud. The announcement details:
A Nevada man today admitted his role in laundering funds solicited for Bitclub Network, a $722 million fraudulent cryptocurrency scheme.
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Half of the proceeds from an apparently errant bitcoin transaction, in which 291 BTC (then $136,000) was sent as a fee, has been given away by the recipient mining pool. The Bitcoin Foundation said today that it received 146 BTC ($65,000) from BitClub, which on 27th April received the fee as part of block 409,008 on the network. The transaction drew notable industry attention and media coverage, given that the average transaction fee at the time was 31 satoshis, or less than $0.01. Following the incident, BitClub issued a public call for the individual behind the transaction to come....