Coinbase doesn't support UAHF

One of the biggest Bitcoin related company released official statementon potential Bitcoin hard fork
20 July 2017   1652
Bitcoin

First decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.

Coinbase, one of the biggest Bitcoin related company, recently announced that it will not support the UAHF hadrfork, which leads to block enlarge. According to the official statement, the company will not support either a new block or associated coin, as they will be incompatible with the current version of bitcoin.

Due to this, the company recommends that customers who want to have access to a coin of new blockchain, withdraw their funds from Coinbase purse until July 31.

Also, Coinbase posted separate notice regarding possible hardfork.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

Information in it recalls that the UAHF, including BitcoinABC, is designed to change the bitcoin protocol by creating a new version of software that will run on its own blockchain.

Due to the incompatibility of the two versions of the blockchain, Coinbase notes that all users' bankrolls will be available only on the current version, and no conversion of BTC and UAHF coins will be made.

In its statement, Coinbase also talks about user-activated softfork (UASF). This proposal, although it offers a modification to the bitcoin protocol, adds new features, such as Segregated Witness, and will continue to use the current version of the blockchain.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   277

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.