So, we had 27% of coins from the total supply stolled and do not know who is a victim!)
If we don`t know the victim`s name in the future who will decide what to do with the stollen funds?
Where did the hacked coins come from? Was it from cryptsy or a different exchange?
If my calculations are right that 62 billion is 27% of the circulating supply.
It was from Cryptsy derived addresses. Cryptsy was the biggest Altcoin exchange in 2014-2015, people kept a lot of coins there.
These coins were not returned to legitimate users (
never keep coins at exchanges)
and their outputs were frozen in official wallets, it looks like someone who had a control on these addresses by having their private keys,
used unofficial wallets and a lot of hash power to overcome the protection,
and not all Cryptsy coins were sent to Vassilis' address. Some people mentioned that up to 17 Cryptsy derived billion were already dumped,
I don't know if it's true, anyways, exchanges were told to monitor the situation, and after that 62 bil went to Vassilis' address.
It was not a donation, these coins are 'unofficial', they belonged to users and majority of their holders agreed to freeze them earlier.
It was a small world in 2014-2015 and we know old members who are legitimate owners of majority of these coins.
Also people have submitted Cryptsy claims in 2017.
Obviously, Mooncoin could easily reach 15-20 Sats, if this situation didn't occur suddenly,
now even junk coins have a market cap bigger than Mooncoin's one.
People worry that coins can be dumped, that's why they panic and sell their MOON at these levels.
We always discuss everything here in honest and transparent way.
Some people even complained earlier that it indicated a lack of professionalism and marketing skills.
In fact, very likely these coins will sit on Vassilis' address for months. Community members have different opinions on what to do with them.
So maybe even in 2019 they still will be on the same address. My suggestion is to burn them (except for coins which people will claim), but Vassilis needs a confirmation from lawyers that burning of coins (even if their legitimate owners agree to burn them) is legal.
There is a lack of crypto laws/crypto lawyers, so it can take much time to confirm that 100%.
I'd like to answer this post with some different information.
First of all, we all should be happy, that MOON is back in Satoshi-land and it looks, that it stabilizes there. After that phenomenal rise it is unrealistic, to speak of that it could have reached 15-20 sats. It was time for a strong correction, especially, if all other coins, including BTC encounter a sharp decline, too. Why should MOON be an exception (even if it was nice, of course, but one has to stay realistic). Maybe the uncertain situation of the funds send to Vassilis have sped that up, but if you look at how many Mooncoins are already outstanding, there could not have been too many of those "panic-sells".
All this is a sign, that Mooncoin is a stable and long-term-oriented currency, which, by the way, is exactly what the fundamentals of Mooncoin are. And a large supply is not the problem, it is the assurance in the future, that this stability will go on and on.
It is a nice thing for a currency and especially long-term-investors.
So I'll repeat, what I said: Even if the Cryptsy-funds are getting into circulation one day (maybe via an auction of the authorities or the receiver), it will be of no big harm for Mooncoin; maybe for a short time it will lower the price, but as we have seen in the past, every price-retracement made MOON stronger, because more and more people get in cheap. And that is, what many people think: Buying BTC? WAAAYYY too expensive. Let's buy other coins, that are much cheaper still and see what happens - maybe the same like with BTC. This is what will make Mooncoin successful in the long run: Stability and speed of transaction. Not to mention one of the best names in cryptocurrency-world.
I'll also repeat, that the best is, to hand the coins over to the authorities, because there do not need to be seperate "crypto-laws" for this and never will be. If it were like that, Cryptsy would not have been regulated by a receiver. The coins were stolen and the one who has access to them, is bound to give them to the appropriate authority or even the receiver itself. If he does not, then think what happens, if one person reports to the receiver, that the coins of Cryptsy are available again and who has them. The receiver might file a claim against the authorities of the European country, where Vassilis is living, to hand over the coins and/or report him to the police, who could investigate and finally demand extradition to the US. Remember: this is not a value of some bucks, but worth several million US$.