Bitcoin Private Secretly Increases Its Own Token Supply

A report from a group of cryptanalysts from Coinmetrics shows that 2 million Bitcoin Private tokens were secretly issued andtransferred to a shielded HTSD pool. The Bitcoin Private team not only increased the number of coins stated in the official whitepaper, but also managed to make good money.

Bitcoin Private was the first hard fork based on the merger of two blockchains, Bitcoin (BTC) and ZClassic, a privacy-focused cryptocurrency that was itself a fork of Zcash.

 Bitcoin Private has combined two existinga set of unreleased UTXO blockchain transactions into one chain. This increased the actual BTCP supply limit to 23.04 million, rather than the 21 million stated in the whitepaper.  Further, Coinmetrics specialists managed to track the sending of unaccounted assets to protected addresses on April 29, and since July 11, about 300 thousand BTCP were released onto the market. Considering the market rate of coins, the sale of the unaccounted asset brought from $1 to $3 million. According to the report, the remaining 1.74 million BTCP remained untouched. 

After the report was published, the fact is that 2 millionBitcoin Private mysteriously materialized out of thin air, seriously worried the community and was reflected in the BTCP rate, which plunged by almost a quarter. Many have already called Bitcoin Private – a scam, and the developers are scammers.

However, the Bitcoin Private Team hastened to blame the incident on one of the developers who gained access to Github and wrote code with a vulnerability in advance.