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BitTorrent creator: “never been affiliated with Tron or Justin Sun”

Priya

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BitTorrent creator: "never been affiliated with Tron or Justin Sun"
Source: Unsplash

Tron [TRX], the ninth largest cryptocurrency in the space, has been making a lot of buzz in the space. This has led to the coin gaining a lot of attention from other communities in the space as well. The main reason it is currently a hot topic of the space is its BitTorrent acquisition.

BitTorrent is considered to be one of the biggest acquisitions in the space as it has always been greeted with high-regard by several influencers in the space as it is the largest file-sharing peer-to-peer platform around the globe and because of its use-cases.

The speculation of Tron acquiring the platform was doing its rounds in the space much before the actual announcement. Additionally, some reports claim that Justin Sun, the Founder and CEO of Tron Foundation, had filed for a temporary restraining order on the platform as the software company had started look for more prospectus bidders. In the end, the Foundation acquired the biggest Torrent platform for over $140 million.

This was soon followed with news that employees had started to take the exit route after the acquisition, wherein five employees were confirmed to have left the firm. This turned out to a major blow for the Foundation as they released a statement clarifying the entire situation, citing that despite some taking the exit gate there were many who joined the bandwagon.

Now, Bram Cohem, creator of BitTorrent, has spoken about the Tron and the Founder on his official social media handle. He said on Twitter:

“I’m no longer in any way affiliated with BitTorrent and have never been affiliated with Tron or Justin Sun”

Along with this, the creator also spoke about the speculation of Sun investing in his current project, Chai Network. Cohem has clarified that neither Sun nor the Foundation have any shares in the project.

Chris Burniske, Partner at Placeholder said on Twitter:

“@Tronfoundation’s$TRX is pumping because it will allow people to claim #BitTorrent-coin ($BTT). Though, per tweets like Bram’s & other whispers, Tron is just shilling BitTorrent’s brand, while talent bleeds & workability of $BTT is an afterthought.”

Recently, the Former Chief Strategy Officer of BitTorrent, Simon Morris was also in the limelight for his statement against the Foundation’s current project and Justin Sun. In an interview with Breaker Magazine, he stated that Tron network will not be able to process BitTorrents’ transactions.

Nonetheless, this was soon brushed off by Sun, wherein he claimed that the team will be opting for on-chain/off-chain transactions and ensure that Tron network will be able to handle the token’s transactions.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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2 Comments

2 Comments

  1. Avatar

    Lisa

    January 23, 2019 at 5:16 AM

    Maybe Bram and Simon have sour grapes to share because they tried to back out of a Memorandum of Understanding they signed with Sun when another buyer offered more. Sun had to take them to court to make them honor the agreement they signed. Their disparaging comments bespeak a bit of jealousy – the little green monster has them by the tail.

    • Avatar

      Kurt

      January 23, 2019 at 2:01 PM

      You maybe correct.
      $GREEN$ ALWAYS BRINGS BITTERNESS & ENVY.

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News

GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla

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GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.





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