Hundreds of Millions of Dollars’ Worth of Bitcoin Stuck for Days
As Bitcoin sees a stratospheric rise over the last few days, increasing by $100 in just a day, users have noted a corresponding increase in transaction confirmation delays. More than 250,000 bitcoins were waiting to move at one point yesterday, according to tradeblock, currently valued at almost $200 million. Tradeblock’s mempool, which tracks confirmation delays, reached an all-time high (ignoring last summer’s capacity tests) of 45MB. Tens of thousands of transactions and hundreds of thousands of bitcoins continue to be stuck for hours or days. Bitcoin users took to reddit en-mass to....
Related News
A study by Swiss researchers concludes that transaction malleability attacks could not have accounted for Mt. Gox’s missing millions. Fewer than 400 bitcoins could have been stolen from the Mt. Gox Bitcoin exchange using so-called transaction malleability attacks, according to A Swiss study, far less than the hundreds of thousands of bitcoins the company reported. The findings cast doubt on the failed exchange’s explanation of how it lost nearly half a billion dollars’ worth of the digital currency when it applied for bankruptcy protection in Tokyo on Feb. 28.
A bitcoin whale wallet has been reactivated after almost a decade of dormancy. Wallets being reactivated after long periods of dormancy are no longer new to the market at this point. These whale wallets usually carry tens of millions to hundreds of millions worth of BTC by the time the owners of the wallet reactivate them. Bitcoins like these were acquired at very low prices but the market uptrend in the past couple of years has turned what were initially thousands of dollars into millions. This is the case with the most recent bitcoin whale wallet activation that saw hundreds of millions....
The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going after hundreds more taxpayers who are delinquent on paying their taxes. Crypto Seizure for Tax Payments The Seoul metropolitan government announced Friday that it has seized cryptocurrencies from hundreds of individuals who are delinquent on their tax payments, Yonhap reported. Cryptocurrencies....
Blockchain startup EOS is exchanging millions of dollars’ worth of Ethereum (ETH) for fiat, leading to concerns prices are suffering as a result. Analysis of wallets linked to EOS, which has so far raised around $200 mln in its marathon ICO, shows mass transactions being sent to cryptocurrency exchange Bittrex. “Long story short, some of the bigger ICOs are cashing in and contributing to a decline in price,” a user uploading the findings to Reddit concluded. The sheer volume of interest in recent ICOs and associated side-effects for the Ethereum network have led to increasing criticism....
Binance has now burned over $300 million worth of crypto coins in its quarterly burns. The Binance burn consisted of 1,296,728 BNB burned, and an additional 5,163 burned as part of the Binance Pioneer Burn Program. Keeping its promise of helping out developers on the Binance Smart Chain who, by honest mistake, lost their BNB […]