CCN Week in Review: Neo & Bee Exposed, The CoinBet Saga, Mt. Gox Liquidation, and More

By
Neil Sardesai @@neilsardesai
6 years ago

Happy Easter, everyone. As with every Sunday, it’s time for the CCN Week in Review. This week: Neo & Bee employees exposed the truth about Danny Brewster, CoinBet.cc was shut down, Mt. Gox abandoned plans for civil rehabilitation, and more. Here are our top stories this week, from 14 April – 20 April, in video and article form:

Neo & Bee CEO Exposed

Neo & Bee employees revealed how they were “misled” by Danny Brewster.

Until recently, Neo & Bee employees have remained silent about company troubles. They hoped that the problems would be solved soon and that the company would resume operations. However, their patience and hope has worn thin, and two employees – George Papgeorgiou and Øystein Aaby, have spoken out. They describe how they were “misled” by CEO Danny Brewster, how the company lost over 4,000 BTC, and more. Read more about what went on behind-the-scenes at Neo & Bee here.

The CoinBet Saga

CoinBet.cc has been shut down after a crazy series of events.

CoinBet.cc was the first site since Black Friday to offer real-money online gambling in the United States. It has received a lot of praise and press coverage. However, CoinBet has now been shut down after a long and crazy series of events. This is The Completely Insane Saga of CoinBet.cc – the story of how a man lost over $300,000, and in the process, exposed one of the biggest scams in the Bitcoin world.

Mt. Gox Abandons Civil Rehabilitation Procedure

Mt. Gox CEO Mark Karpeles made a press release earlier this week. The failed exchange abandoned the civil rehabilitation procedure and will likely file for liquidation.

Well, that didn’t take long. It looks like Mt. Gox has given up its original plans to rebuild under bankruptcy protection. Instead, the failed exchange has asked a Tokyo court to allow it to be liquidated. The complete press release is available on the exchange’s website in Japanese and English. Of course, Mt. Gox still needs to find a suitable buyer, which seems like something that’ll never happen.

Dogecoin at NASCAR

Talladogea, here we come!

The Dogecoin community is at it again. They successfully raised over $55,000 in DOGE to send NASCAR driver Josh Wise to the Talladega race on May 4th. Members of the Dogecoin subreddit are now contributing possible designs for the “Dogecar”. Furthermore, if Wise receives enough votes in the 2014 Sprint Fan Vote, he will be able to compete in two more races following Talladega. Josh Wise hopes to start mining Dogecoin soon and recently hosted an AMA on reddit.

Blockchain.info Takes Over Bitcoin.com

Blockchain.info now owns Bitcoin.com

Five days ago, Blockchain’s CEO Nic Cary teased the web, “I am so excited I can’t contain myself.” The reason for his excitement was soon revealed. Blockchain.info struck a five year deal to exclusively manage Bitcoin.com. The new site now has links to set up a wallet at Blockchain.info, to get news about Bitcoin, and to explore the blockchain. Some Bitcoiners are praising Blockchain for simplifying Bitcoin for newbies. However, others are criticising the company for unwanted centralisation and for using the “Ƀ” symbol for Bitcoin. 

Missing Funds at LocalBitcoins

Several users are reporting missing funds on LocalBitcoin.com

A few days ago, reddit user don4of4 warned the community that LocalBitcoins accounts were vulnerable to some sort of exploit. Several users reported mysteriously losing thousands of dollars worth of BTC from their accounts. LocalBitcoin soon released an official statement regarding the thefts, and stated that there is nothing to indicate a security flaw on LocalBitcoins’ side. However, many Bitcoiners are skeptical, and the story is not over yet.

“It feels like LBC is trying to push this off on someone/anyone else so that they don’t have to refund people’s BitCoins here while still maintaining some credibility.

There were way too many people hit in a short period of time.”

-reddit user jonathandough14

And that’s all for this week. Every Sunday we feature our top stories of the week here on the CCN Week in Review.

Last modified (UTC): October 9, 2019 16:22

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