- Some malicious hackers hacked into the Steemit On February 22, 2020, and froze 65 million STEEM.
- On March 2, 2020, Steemit regained the staked accounts and resumed the order in the community.
- The Soft Fork resulted in outrage from the crypto community alleging it as a planned event to takeover Steemit.
Steemit’s Controversial Soft Fork 22.5
Steemit is a social media platform where it offers a scheme to give rewards for people creating and curating content. The rewards are in a form of Cryptocurrency or digital currency known as STEEM. STEEM is a digital point system distributed by social media network Steemit
On February 22, 2020, some malicious hackers hacked into the Steemit and froze 65 million STEEM, the core STEEM developers were failed to notice the hack and it was too late when they did. Hackers hijacked STEEM and threatened to nullify the existing STEEM.
The hack froze 65 million STEEM is worth 10 million Dollars as double confirmed with lawyers and got recognized as a criminal activity.
The hack is named as soft fork 22.2. The Soft fork was maliciously structured in a way that its only purpose was to freeze a handful of targeted accounts and strip them away from their rights and possession to their owned assets.
The hackers were very skilled and could do this kind of attack to any Steem community member and bend them on their terms. From Steemit they threatened to Hard fork which leads to nullification of all STEEM token, putting every good STEEM holder, developer and community interest at utmost danger.
On March 2, 2020, Steemit regained the staked accounts and resumed the order in the community.
In the month of February 2020, Tron and Steemit held hands and formed a partnership. Steemit assured that Tron will be committed to add value and grow the Steem ecosystem.
Justin Sun Clears The Air Around Steemit’s Hack and Takeover
Tron Founder, Justin Sun clarifies the misleading comments that it is collaborating with exchanges on a hostile takeover the networks and assured that all parties’ votes will be withdrawn as a symbol to protect the sanctity of private property and the interests of all malicious hackers.
(8/9) We’re devoted to the continued development of the @SteemNetwork, bringing more developers, users and content to @Steemit, and more rewards to the community members. Super excited about the upcoming roadmap https://t.co/82D0y3jPEN
— Justin Sun (@justinsuntron) March 3, 2020
Justin Sun said that he and his team are devoted to the continued development of the, bringing more developers, users and content to and more exciting rewards to the community members. He is also super excited about the upcoming roadmap.