Justin Sun just planned massive freezing of user assets on the Steem blockchain

Justin Sun just planned massive freezing of user assets on the Steem blockchain

By paragism | paragism | 4 Apr 2020

Cover Image Source - Created by the author using free vectors

Steem hard fork took place on 20th March, 2020 and generated Hive blockchain. Hive is basically a copy of Steem blockchain with minor changes. So, it was basically a chain split. Majority of the Steem community members started to shift to Hive. The huge dapp eco system of Steem also started to move to Hive. The quick flow of the events made Justin Sun, owner of Steemit, nervous. Steemit started to censor Hive related posts and downvote its own users with 29 million ninza mined steem power. Steemit was the first blockchain based censorship free decentralized social media platform. In a jaw-dropping move, they censored huge no of accounts too. Hive got listed in a few exchanges and started to get traded at higher price and market capitalization than Steem. It was not the end of the war! In a recent murky move, Justin Sun has planned to freeze Steem stakes of several community members.

Justin was very vocal about ‘sanctity of private property’ when former Steem witnesses froze the ninza mined stake of Steemit INC in a temporary soft fork. So this move comes as a surprise. Here is the detailed post which discusses about Steem soft fork 22.888. Justin Sun virtually took over the Steem blockchain by appointing handpicked witnesses and deployed huge ninza mined steem power of Steemit INC to influence blockchain governance. The original Steem witnesses fought with Justin till the time of chain split. Now, it seems Justin wants to target those witnesses. The soft fork 22.888 is supposed to freeze their asset in blockchain. The soft fork is also supposed to freeze assets of many other users who proxied or directly voted to more than 10 anti-Justin witnesses during the hardfork with high influence. How many will be affected? Although the post suggests that maximum 20 users will be affected but considering the hostile behavior of Justin Sun, extent of the freezing is unpredictable.

Justification given by Justin Sun team for the soft fork 22.888:

  • The former Steem witnesses were responsible for the hard fork
  • Airdrop of HIVE happened selectively and it excluded many Steem community members who supported Justin Sun
  • The members from the forked blockchain are actively spamming Steem eco system
  • There is no clear declaration from the leadership of the forked Blockchain that it is not the goal to harm the Steem Blockchain and community


Present Steem witnesses and their running versions

Obviously the reasons are extremely ridiculous. While I finished writing this article, almost all top Steem witnesses appointed by Justin Sun have denoted that they would be running soft fork version 22.888. A massive freezing of assets on the Steem blockchain is awaited! Justin Sun is definitely controversy’s favorite child. This time he wants to create history by freezing massive assets on the blockchain.

Latest update: The code was actually run and assets of many accounts were frozen today. Justin Sun removed the witnesses, who didn't abide by his order to run the code, by kicking them out. The whole crypto world is watching a never ever seen version of crypto imperialism now. 

A Steem witness is saying how he was kicked out for not running the code to freeze funds


Very recent scammy update from Justin Sun team

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Cypherpunk. Writing content which I love. Creeping on the blockchain. Founder - www.thecoinbuzz.com Twitter - @paragism


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