“Ripple, the so-called decentralized payment network, has frozen funds worth more than US$1 million that belong to the company’s former co-founder Jed McCaleb. Since their initial launch, Ripple has represented themselves to the public as a payment network of ‘decentralized’ gateways that convert different assets or types of payments—such as bitcoin or Paypal—into IOUs tradeable in the Ripple network. On August 1, 2014, Ripple introduced a feature called ‘Balance Freeze’ which allowed the network’s gateways to freeze and prevent funds from being traded, an action that they claimed was necessary to protect the gateways’ wallets from being compromised.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
How one site beat back botnets, spammers, and the “4chan party van”
The Spy in Your Pocket
FBI Whistleblower Reveals Shocking Spy Secrets: Coleen Rowley
Liberty Empowered Coverage of No War in Syria Rally: Tulsa
Cops Spied On Motorists At Political Rallies With License Plate Readers
Kentucky Legislature Passes Hemp Bill, Rand Paul Vows Support From D.C.
$200 to set up a lemonade stand in Illinois is 'insane': senator
Tesla is losing over $4,000 on each car it sells
New York Now Accepting Applications for Digital Currency Exchanges
He Beat the IRS in Court, But They Still Won't Make Him Whole
Alleged Silk Road Founder's Mother: No Murder-For-Hire Charge
Bitcoin is Not Legal Tender, Says Canada Government Official
This is what armed revolution looks like
Pawn Shops Boom as Consumer Retail Banking Retreats
Texas man raised over $4.5M in 2012 Bitcoin Ponzi scheme, feds allege