“Hail Mary” to Save Steem Funds Goes Awry Courtesy of Bittrex

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Ever since the Steem blockchain split into two separate camps,there has been plenty of controversy to go around. A recent plan to prevent roughly $5m in tokens from being seized was initiated, but the effort fell short in the end.  

Not a week goes by without Steem making some sort of headline.for all the wrong reasons.

Bittrex Makes the Wrong Steem Funds Move

The project is, for all intents and purposes, off far worse compared to a few months ago. 

Things are not improving either, as can be seen from a recent peculiar “hail Mary”.

One token holder wanted to redirect $5m in tokens to a new address, preventing it from being seized.

As the funds moved to the Bittrex exchange, there was some initial hope.

Unfortunately, the exchange has decided to not return the funds to its original owner or distribute it to prevent money from being seized.

Instead, they will “adhere to the Steem hard fork rules”. 

This new venture was an effort to prevent the hostile takeover of Steem as a project.

Unfortunately, it seems it was all in vain, and the $5m will potentially end up in the wrong hands. 

All things considered, it seems as if this project is now truly dead in the water. 

Image(s): Shutterstock.com

The post “Hail Mary” to Save Steem Funds Goes Awry Courtesy of Bittrex appeared first on The Merkle News.

Publication date: 
05/23/2020 - 06:00
Author: 
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