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The Wallets Issues: Official Statement and Deadlines from the Development Team

December 20, 2017
The Wallets Issues: Official Statement and Deadlines from the Development Team

Dear Community,

To start with, we’d like to thank you for your patience and support these past few days when Bytecoin was faced with some difficulties. Moreover, I’d like to make an official statement to clarify the current situation.

Introduction

A few days ago Bytecoin’s network was faced with a massive fraudulent attack to take it down, steal Bytecoin, and spread the power between the CryptoNote-based coins. This happened at the same time as when the rate of Bytecoin was beginning to significantly increase because of the almost 100% growth experienced during the previous 3 days. You may know who was interested in taking us down and out. The Bytecoin network has really taken a blow and a lot of the services which have been working for us were temporarily down (some of them are still fixing the results of this fraudulent attack), however, the basic cryptographical units which were set up back in 2012 have remained unassailable. Through Bytecoin’s fundamental provisions, it has shown the power of the cryptographical technology and the basis of the software, moreover, this attacks have proven that it’s impossible to break the network or steal someone’s coins.

Despite the fact that the network has resisted the attacks, the software was mostly affected. Now the desktop wallets are taking a bit more time to sync and the web wallet is currently disabled. Some of our partners, however, have already fixed their software, and Poloniex as well as Freewallet are working in a business as usual kind of way now.

What’s next?

We’ve met with the whole team about a week ago to discuss our further plans and release the 2018 roadmap. Now we’re also working together at one place to mend our software and prevent similar future situations. We’ve already made a decision and we should have something ready for you in about a week. Now we’re making the final tests and soon we’ll be glad to present you with this solution. In this case, such attacks won’t gain any profits for the hackers and it won’t be possible to stop the software or decrease the network speed.

We also have to state and make you fee sure that all of your funds are safe and will appear in your wallets as soon as the whole infrastructure gets repaired.

Moreover, I’d like to share the news that huge updates in both dev/marketing vectors are coming very soon and I promise you that you’ll be pleasantly surprised with our further activity. 2018 is going to be the year of Bytecoin. Crypto Santa is coming, and we believe he’ll visit you quite soon. Be prepared.

Yours truly,

Jenny and the Dev Team