Cryptsy Reveals Stolen Bitcoin Recovery Reward ‘Contract’ – CCN …

Cryptsy Reveals Stolen Bitcoin Recovery Reward ‘Contract’ – CCN …

 Following a claim that 13,000 bitcoins 300,000 litecoins were stolen by a hacker, a class action lawsuit and its subsequent insolvency, Cryptsy has now revealed a “reward contract” with ‘Cryptcracker’ to retrieve the stolen coins in exchange for a ‘base’ reward of 1750 BTC, approx. $725,000.

In a bizarre twist to an already contentious saga surrounding controversial cryptocurrency Cryptsy, CEO Paul Vernon or ‘BigVern’ has revealed a reward contract between Cryptsy and ‘Cryptcracker’ that will see the latter get a reward in exchange for recovering coins that –according to the exchange– were stolen from Cryptsy.

Cryptcracker, who is shown to potentially and benevolently return the 13,000 stolen bitcoin has agreed for the base reward at 13.4% of the recovered bitcoins, even if the recovered sum is lesser than the total ‘stolen’ sum.

An additional 250 BTC is reserved as a reward for the successful recovery of 247,000 Litecoin, although this is deemed as “secondary to the recovery of the [stolen] Bitcoin.”

One of the provisions from the reward contract

Read more ... source: TheBitcoinNews


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