Business

Is blockchain secure?

By J.P.O’Rourke Apr 2022

‘Blockchain is secret and secure? I don’t think so. There is the crypto currency blooper eel to be considered.

In 2013 the Chinese Bitcoin trading platform GBL suddenly shut down – a $5 million bitcon

1n 2014 the Mt Gox bitcoin exchange declared bankruptcy after ‘losing’ $473 million worth of customers’ bitcoins (did Gox look under the couch cushions?)

In 2015 the crypto currency called Paycoin was offered through something called ‘Customer Portal’ . In a Zen like experience ten thousand customers were left to meditate on being freed from the worldly burden of having $19 million.

In 2016 the founder of the Florida crypto currency market Cryptsy was accused of misappropriating millions of dollars then fleeing to China , perhaps to work form GBL

In 2017 $53 million in Ethereum crypto currency disappeared from Ethereum’s ‘Decentralised Autonomous Organization’ which proved to be a little too autonomous to qualified as being organised

 

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