As per the latest Bitcoin Gold news, one of the largest crypto operators, Bittrex had delisted Bitcoin Gold (BTG) from its exchange platform. The exchange took this decision after the Bitcoin Gold Organization (BGO) declined to pay 12,372 BTC in order to remain listed on the exchange.
The Bittrex exchange was expecting compensation from the BTG team for their sheer negligence in May over the 51 percent attack. This attack allowed hackers to whisk away with more than 388,000 BTG. At the time of the hack, this was worth approximately $18 million from a number of operators that included Binance, Bithumb, HitBTC, Bitfinex, Bitinka and Bittrex.
On May 19, as per the Bitcoin Gold news, the Bittrex exchange allowed hackers who deposited 12,371 BTG to withdraw and trade coins to carry out a 51 percent attack to be able to double-spend those BTG.
Bittrex wanted 12,372 BTG from them to cover the loss that they incurred in order to take responsibility for their chain, as per the BTG team’s statement. When BTG refused to provide the compensation that was asked of them, Bittrex gave an ultimatum to them to pay up 6,000 BTG or to be de-listed from their exchange.
The BTG team, on the other hand, stated that it had done whatever was possible within its reach during the 51 percent attack. It gave the exchange the hacker’s advisory, wallet address, and warnings, as stated in the NewsBTC report. In its statement, the BTG foundation also reminded Bittrex that those who earn revenue from a privately owned business must be able to manage the associated risks and should be ultimately responsible for their own security.
As per the Bitcoin Gold news update, BTG at its end argued that’s a sizeable amount of its available funds and it won’t pay the compensation asked for. It further added that it won’t be paying up the demand for the compensation just to cover a private company’s losses as a result of their own security failure, as mentioned in the CryptoNewsReview report.
The post Bitcoin Gold News: Bittrex Delists BTG From Its Platform After BGO Declined To Pay 12,372 BTG appeared first on OWLT Market.
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