Good news. Update on Steemit Lawsuit
It has been over 2 years since the drama and creation/forking of the Hive blockchain. I guess most of y'all know what happened just a week after the hard fork on STEEM. A good % of those who had huge stakes on STEEM had their wallets emptied by the rogue witnesses "created" by Justin Sun. About 25Million STEEM with a $7m worth at that point in time(I think Steem was trading around $0.202 then) was cleaned. That was a draconian move, open theft and many people asked "Where's the freedom?". It was obvious that the move was to cripple the opportunity of the top witnesses to get their positions back, since the community tried to fight back, they panicked.
The Lawsuit
It all started on June 16th 2020 🙂. Whales 🐳 like @theycallmedan @themarkymark @blocktrades etc got their accounts emptied and filed for a lawsuit
The good news
It took over 2yrs for the whole saga to see results. Yesterday, @steemit received about 14.5M STEEM from @bittrex. Since that's about 59% of the total money stolen, returning that amount signals that those who didn't file for the lawsuit will never get their money back. Although they got a snapshot of the money 2yrs ago on Hive, they won't be getting the supposed "free money" 90% of the community got and that's sad 🙁.
Their money is gone because Steemit sent the money immediately to Binance. If you look at the daily charts on STEEM, there was a good sell yesterday
Where's the good news? 🤔 I'm confident that if these guys get their money outta there, they gonna buy more Hive or Leo token 🙂to increase their bag. After all, it is looking like free money despite the struggle so far. Imagine having around $3million buy order on Hive. The price will pump perhaps to around $0.8 😍😂
For more details on how the lawsuit went, click here 👇
Steemit Lawsuit
Do have a wonderful day ahead. I'll catch you on the next one 🤗