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Another US tourist has died in the Dominican Republic, bringing to eight the number of Americans to die in the country over the past year.
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Detroit’s police chief says officers prevented violence by a neo-Nazi group that wanted to spark “Charlottesville No. 2” during a gay pride festival over the weekend, the AP reports. Chief James Craig said Monday that five people among about 15 white supremacists were legally carrying firearms while they traded barbs…
Researchers have identified a new disease carried by a tick in Inner Mongolia. In the US alone, at least 16 diseases have been identified that ticks can pass on to humans, NPR reports. The discovery, disclosed in a study in the New England Journal of Medicine , means that we don’t…
When cryptocurrency exchanges fail, a seismic shock shudders through the cryptosphere. With thousands of users, from traders to companies, left out of pocket, litigation is inevitable in a bid to claw back some of the losses. Cryptopia is the latest in a long line of exchanges to face a litany of lawsuits from anguished creditors.
GNY.io Heads the Queue of Creditors Knocking at Cryptopia’s Door
GNY.io, a machine learning platform for blockchain applications, was the largest wallet holder in the now defunct Cryptopia exchange, which closed its doors in April after suffering a devastating hack three months earlier. Despite briefly reopening for trading, the New Zealand exchange was unable to make it work, and abruptly ceased operations, leaving thousands of users out of pocket, and with little recourse.
The Channel Islands-based GNY.io has refused to write off its losses, however, and issued a statement on May 16 detailing the claim it filed in the High Court of New Zealand. GNY.io reports losses of more than 492 BTC, valued at $ 2.5M at the time of the claim, but now worth $ 4.2M in BTC terms. The digital assets that the company held on Cryptopia were Lisk Machine Learning (LML) tokens, which according to Coinlore are now only tradable on Bitbay. 15.4M LML tokens were lost as a result of Cryptopia’s collapse, comprising all of the LML that GNY.io held.
The machine learning company isn’t the only Cryptopia victim now seeking recourse through the courts. Grant Thornton is overseeing liquidation on behalf of Cryptopia, and produced its first liquidation report on May 31. Explaining the decision to reopen and then close the exchange, it notes: “Trade volumes were insufficient for the Company to meet its debts as they fell due and it was decided the appointment of liquidators was in the best interests of customers, staff and other stakeholders.” In addition to secured Cryptopia creditors Dell and, curiously, Coca Cola, there are 69 unsecured creditors with claims totaling $ 2.439M, although this figure is expected to rise, and it appears that GNY.io’s $ 2.5M claim has yet to be added to this.
Cryptopia’s Not the First Exchange to Be Dragged Through the Courts This Year
Failed exchanges with a lengthy list of creditors are a recurring theme through 2019, and indeed through the history of cryptocurrency. Canadian exchange Quadriga has 115,000 creditors and a string of lawsuits in what’s shaping up to be the most acrimonious lawsuit since Mt Gox, the one that began it all. Quadriga even has multiple law firms overseeing the liquidation amidst an unsightly squabble over who should be paid first, accusations of the late CEO’s widow ring-fencing assets, and mounting evidence that there are no retrievable crypto assets at all. Then there’s Italian exchange Bitgrail, where another unsightly squabble has creditors fighting over the crumbs with no resolution in sight.
Creditors of deceased exchanges hoping to claim what’s rightfully theirs, or at least a portion thereof, will need to be patient. The Mt. Gox case is still proceeding through the courts, and is now in its sixth year. The end looks to be in sight for victims of the Japanese exchange, who should be up in USD terms upon receiving their compensation, likely in early 2020, but down in BTC. Creditors of Cryptopia will be hoping for a speedier resolution; a similar timeline to Gox would see the case drag on until 2025.
Do you think the Cryptopia creditors will receive any compensation? Let us know in the comments section below.
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The post Cryptopia Suits Gather Steam as Another Failed Exchange Is Bound for Court appeared first on Bitcoin News.
It may sound like Doc Rivers was just being nice and complimentary when he compared a Toronto Raptors star to NBA great Michael Jordan. Kawhi Leonard is the player who’s the “most like Jordan that we’ve seen,” Rivers, coach of the Los Angeles Clippers, said on ESPN, per the Los…
The cryptocurrency community got riled up recently over Craig Wright’s U.S. copyright registration of the Bitcoin whitepaper and some of the code from the early software. However, on May 24 the U.S. Copyright Office saw a Bitcoin whitepaper registration by a man named Wei Liu, bringing another legal challenger to Wright’s claim of ownership over the seminal paper.
A Wild Whitepaper Copyright Challenger Appears
The infamous Craig Wright, who claims to be Satoshi Nakamoto, has a legal challenger to his recent copyright claim over the Bitcoin whitepaper. Last week Wright’s media team told the public that he was granted two U.S. copyrights for the original Bitcoin whitepaper and version 0.1 of the cryptocurrency’s code. Immediately after the news went public, the cryptocurrency community responded in uproar and most supporters declared the act was meaningless. Patent attorney Stephan Kinsella told his social media followers that “such assertions are ridiculous and misrepresent the way copyright works.” Then the Copyright Office responded to the recent Bitcoin copyrights and said the agency “does not investigate the truth of any statement made” and that the legal battle over ownership is essentially up to the courts to decide.
This could well be the case as a new copyright filing for the whitepaper was published on May 24 by an individual named Wei Liu. The copyright claims that Wei Liu is the pseudonymous Satoshi Nakamoto and Liu’s filing cites a date of publication of November 1, 2008. According to the filing, Wei Liu is a Chinese citizen who declares “authorship” of the whitepaper’s “text.” Wei Liu’s identity is relatively unknown although he has 19 copyrights, which claim ownership to a myriad of technological achievements.
Besides the whitepaper, Wei Liu contends to have authored papers on bio-mechanical analysis of arm reaching, distribution kinetics, frameworks for quantitative evaluation of care coordination, and large-scale machine learning. One of the author’s papers written in 2007 called “Statistical Network Comparison” has some interesting simulation and model-based network studies. A good portion of Wei Liu’s copyrighted studies deal with health and biology-related networks as well. It is unclear why Wei Liu filed the registration with the Copyright Office but he joins Craig Wright, Ronald Keala Kua Maria, Gabriel Brias Buendia, and others who have done the same.
A Photoshopped Coinbull Report Spreads on Chinese Social Media Channels
The news follows the recent BSV price spike which was allegedly fueled by a phony alert disguised under the popular news organization Coinbull. According to a few different sources on social media and Dovey Wan, founding partner at Primitive Ventures, an unknown person published a fake Coinbull news update in order to push up the price of BSV. “CSW transferred 50k BTC from the biggest BTC wallet to Binance, which confirmed he is the real Satoshi — As such CZ will re-list BSV and make an official apology on Twitter” the translated message reads. However, Coinbull responded to the faux post stating the image was “maliciously photoshopped” and its intent was to “impersonate Coinbull to spread rumors.”
At press time the price spike has pushed BSV into eighth position in the top 10 and the coin is up more than 100% over the last week. The increase in value started about a week ago after Wright announced he filed the copyrights and the price of BSV saw a small lift in value. The recent copyright filing by Wei Liu may not necessarily mean the Chinese citizen is Satoshi Nakamoto even though the filing claims otherwise. It might be just a demonstration of how easy it is for someone to claim authorship of the paper with some mere technical credentials and less than a hundred dollars.
What do you think about the recent copyright registration by Wei Liu? Let us know what you think in the comments section below.
Image credits: Shutterstock, Twitter, Copyright Office, and Pixabay.
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The post Another Aspiring Satoshi Copyrights the Bitcoin Whitepaper appeared first on Bitcoin News.
Fury was rising among the relatives of dozens of inmates killed in prison riots as they demanded the release of the bodies for burial, more than two days after prisoners attacked each other in several facilities in the northern Brazilian state of Amazonas.
Stocks rose broadly on Wall Street Friday, though the market ended a turbulent week of trading with its third straight weekly loss. Financial companies led the buying as the yield on the 10-year Treasury note reversed part of a steep slide a day earlier. Rising yields boost interest rates on…
Add Missouri to the list of states with strict new laws on abortion. Gov. Mike Parson on Friday signed a measure banning the procedure after eight weeks, with no exceptions for rape or incest, reports the Hill . As with laws in other states, including Alabama and Georgia , legal challenges await….
Last year, it happened to Atlanta . This year, Baltimore. The city’s online services have been largely shut down since hackers breached servers about two weeks ago, reports NPR . The hackers demanded 13 Bitcoins—worth about $ 102,000 as of Tuesday morning—but the city is refusing to pay and is…