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Lightning Network records network capacity of $5.6 million

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Lightning Network records network capacity of $5.6 million
Source: Unsplash

Lightning Network’s capacity has increased to facilitate over 8000 public lightning nodes which are collectively worth about $5.6 million. The secondary layer payment system, Lightning Network, is built on top of the Bitcoin network and the main aim behind its creation was to reduce traffic on the main blockchain and hence, help with Bitcoin’s scalability.

Recently, Lightning Network started to show improvements and a faster rate of adoption, on the back of the rising number of public nodes and their corresponding capacities. In addition to having 8,000+ nodes, the number of nodes rose by 5.74% over the last month.

Source: 1ML

Additionally, the number of active nodes, at press time, was over 4,000. Comparing the same over the last month, an increase of over 3% was recorded. Each node was seen to have a processing transaction worth [on an average] of $1,335, which, at Bitcoin’s price at press time, was worth approximately 0.25 BTC.

Further, Andreas Antonopoulos, author of Mastering Bitcoin and a famous Bitcoin proponent, spoke about Lightning Network and its effects on Bitcoin.

“There are almost 6000 nodes involved in the Lightning network with a capacity if $4 million. There is no one-off test for the LN and I will assure you, since Jan of last year, the network has been running spectacularly.”

Addressing the recent Lightning Torch campaign, Antonopoulos stated that this movement was a way to test user nodes and wallet setups. Additionally, he stated,



“The entire point of the lightning torch process is to test the strength and capacity of the network itself”

A Twitter user, @AnthonyLeducq, commented,

“Lightning Infrastructure growth is going great, but front end merchant and end-user integration not so great. #lightning #LTC #litecoin”

Another Twitter user, @AMAlganza, remarked,

“I’m sure it will, but we need (mobile) wallets that support #litecoin $LTC @lightning #LN already.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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Huobi, Bitfinex and other exchanges allegedly directly/indirectly linked to laundering/mixing of Bitcoins

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Huobi, Bitfinex, and other exchanges are allegedly linked in laundering/mixing of Bitcoins
Source: Unsplash

On 19 May, 2019, @Whale_Alert tweeted a transaction of 2000 BTCs between Bitfinex and an unknown wallet, which after in-depth research by a Twitter user, confirmed that it was linked with wash-trading, mixing and laundering of funds. The funds circulated over various exchanges like Bitfinex, Binance, Huobi, Coinbase, and others, raise serious questions regarding AML laws and more.

The flagged transaction was sent from 1HL5rZWw5rGzFAB1mThEMxwazEBtWigs7B to two distinct addresses.

The Twitter user, @Proofofresearch, flagged this transaction and revealed the exchanges involved [directly or indirectly]. The user tweeted,

The user flagged a few addresses in the clusters which sent a significant amount of funds, shown in the image attached below.

Source: Twitter | CryptoMedication

The entity 145631092, as seen in the above chart, the funds sent by Huobi from this cluster ended on July 21, 2017. Another wallet “17hf5H8D6Yc4B7zHEg3orAtKn7Jhme7Adx”, linked to having transactions with Huobi has one particular transaction that stands out as it has an op_code named “People! help!”, which was transferred on March 30, 2019.

Source: Smartbit

The wallet address “19V5joogtZCCj3YWcP9pNT8eKLSZybc1Kq” has only four transactions in total. Upon checking the previous transaction for this address, the transaction with hash “bee4795db198230d6baad2e9dbba42b597c635b2471101641cce99e1ff0e91e4” stands out, since it is linked to darknet market places, the user tweeted.

Source: Twitter | CryptoMedication

Further, the address “3M1QVCjXn38AUdUxbLCH4WUZc1ai72ZKgr” that sent funds to the above-mentioned wallet, has a strong connection to darknet market places like the Hydra Market place.

Source: Twitter | Cryptomedication

The source of these funds was directly linked again with Hydra Market place, with the user tweeting,

The Twitter user further alleged that the addresses linked to these clusters were attached to fraud and some user[s] was “selling accounts at Coinbase/Huobi/Bittrex/Binance.” The Twitter user also urged the compliance team of the respective exchanges to close these flagged accounts ASAP.

The user added that all the funds linked to darknet market places were later deposited in Huobi exchange, which according to the user, gets mixed by Huobi.



Additionally, the user added,

“There are zero customers involved in any of these transactions at this point. That much is obvious. These addresses are not functioning as customer deposit addresses. That’s a guarantee. Funds go to Binance/OKex/Poloniex/BTCBox.com… By FAR, Okex is the most frequent recipient of funds from these Huobi-controlled addresses. Please keep in mind that these are not deposit addresses. These are addresses where Huobi is literally mixing the funds and sending them to other exchanges for some reason.”

One particular address connected to Bitfinex in this fiasco, “1LSgEKji3ZoGdvzBgkcJMej74iBd38fySb,” has received 1 million Bitcoins, according to the user. The user added,

“As stated before, Binance/Coinbase/Bitfinex/Huobi/Bittrex/Coinbase/”Bitbank”/Bithumb/OKex are all pals in this laundering scheme together. They mix and mash funds and operate in a symbiotic fashion – replenishing stores when necessary… In this case, Huobi’s hands are dripping if there’s such a thing as catching someone ‘red-handed’.”





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