White Hat Team Recovers 7 Million ETC From DAO Thief

By August 8, 2016Bitcoin Business

The White Hat Team, whose current members are publicly unknown, has successfully recovered more than seven million ETC , currently valued at around $16 million, by transferring the funds to an address whitelisted by the DAO curator who is known to be working with WHT or has transferred curatorship to WHT. Alex Van de Sande , one of the previous members of the team, stated he was no longer part of WHT, having left once the hardfork succeeded. It is not therefore fully clear who exactly transferred the ETC and what they plan to do with the funds, but, since stolen property was recovered, we’d assume it would be returned to the rightful owners. Time for selling ETC ETC’s market may, therefore, soon be flooded with millions of new units held by DAO token holders who might instantly sell them for ETH. Moreover, by the end of the month, the DAO thief, who has already moved his loot, will be able to freely sell 3.6 million ETC, currently valued at almost $8 million. Ethereum’s Foundation, which last week publicly stated is working 100% on ETH and was joined by as good as all Dapp and ecosystem developers in stating they are also working 100% on ETH, is seemingly following ETH holders and appears to have sold 129,000 ETC and may be preparing to sell another 500,000 ETC . Or buying? On the other hand, Barry Silbert, who runs the now acquired Second Market, a custodian of the Bitcoin Investment Trust, “a private… trust that derives its value solely from the price of Bitcoin” and previously known to dislike ETH, publicly stated yesterday that he had sold 0 ETC (which he publicly claimed to have bought at 0.50 cent per unit), that he instead had bought and was buying more […]

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