News Maintainer of Dash Cryptocurrency "Masternode" Allegedly Disappeared with Funds

Maintainer of Dash Cryptocurrency “Masternode” Allegedly Disappeared with Funds

-

- Advertisment -

Maintainer of Dash Cryptocurrency "Masternode" Allegedly Disappeared with Funds

Users of a cryptocurrency forum are claiming that a “core advisor” to Dash and maintainer of one of the network’s “masternodes” has disappeared with user funds.

The advisor, known only as “Moocowmoo” reportedly told concerned users of his “shared masternode service” in August that he would be, “shutting down his service and apologizing for being in the dark for so long.”

Maintainer of Dash Cryptocurrency "Masternode" Allegedly Disappeared with Funds

“So, to address the stress, I’ll be shutting down shares and sending back all deposits to their origination addresses within a week or two as time permits,” Moocowmoo wrote at the time.

However, Dash forum participant “Erulian” claims that there was no follow through on that promise. “(It) was quite a relief for me after trying to get my money earlier. Since then I never heard from him again.”

Another forum participant, “Scombo,” claims to have also lost money to Moocowmoo:

“You can add me to the list – I have been trying since September to get a response from him. I hope we can get some more details together as well, I have asked a number of people on discord if they have any details or can help but nothing so far – I will keep trying. so far I have asked @btcbookstore, @zzz, @unchained and a few others . Beware though I suspect an impostor is sending messages from his moocowmoo handle asking for a payment to release the dash. Also might be worth involving the Dash core group as this reflects really badly on dash, particularly as he was a prominent member of the team.”

Bitcoinist, which broke the story, located a tweet in which a member of Dash’s Core Group appears to advise Scombo to assemble a team and deal with the situation him or herself. “There is power in numbers,” the party tweeted.

A twitter user called George Donnelly tweeted that there has been:

“Lots of posts in r/dashpay about the moocowmoo @masternode_me thing over the last year…Still looking for Dash Core Group inc @Dashpay to issue a statement strongly condemning this, warning away investors and using its resources to aid victims Does DCG care??”

According to DashNews:

“(A) masternode is an online computer that runs a dash wallet helping the network make important decisions, such as locking transactions with InstantSend, coordinate mixing of coins, and voting on budget funding. A masternode is required to have 1000 Dash as collateral, a dedicated IP address, and be able to run 24 hours a day with minimal connection loss. 45% of the block reward gets paid to masternodes on every block, which is then distributed to masternodes one at a time.”

Presumably because of the large collateral needed to stake a masternode, some parties invest via shared masternode services such as the one offered by Moocowmoo.

Regarding the matter, ene cryptotwitter pundit commented that “decentralized” crypto networks, while having the advantage of being “undesirable” because their is no central boss also have a culpability problem.

Dash.org has been contacted and any comment will be appended to this article.



Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Bitcoin and Other Cryptocurrencies – How Their Values Fluctuate

Are you interested in knowing more about Cryptocurrencies? Have you been surprised by the value of Bitcoin...

Understanding The Viability of Blockchain in Supply Chain Management

With the advent of modern technology, the business dynamics of various industries have evolved and transformed in...

Top 7 Porn Sites That Accept Bitcoin/Crypto

Bitcoin and other cryptocurrencies are not that exotic anymore. Ever since the big boom on the crypto...

“Chinachain” aims to connect hundreds of cities across China. Will it work?

If there’s ever a “Chinachain” for business, sanctified and supported by the state, the BSN ( Blockchain...
- Advertisement -

Top 10 BEST Crypto Trading Books for New Traders (2020)

We may receive a small revenue share if you purchase something from this guide - with...

Crypto Firm That Connects Exchanges and Banks Receives $5m Investment From Wells Fargo

Cryptocurrency startup Elliptic recently held a Series B funding round which was joined by a venture arm...

Must read

Bitcoin and Other Cryptocurrencies – How Their Values Fluctuate

Are you interested in knowing more about...

Understanding The Viability of Blockchain in Supply Chain Management

With the advent of modern technology, the...
- Advertisement -Maintainer of Dash Cryptocurrency "Masternode" Allegedly Disappeared with FundsMaintainer of Dash Cryptocurrency "Masternode" Allegedly Disappeared with Funds

You might also likeRELATED
Recommended to you