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"In a post-mortem announcement, Middleton posted online today, the Veritaseum CEO said "the amount stolen was miniscule (less than 00.07%) although the dollar a

"In a post-mortem announcement, Middleton posted online today, the Veritaseum CEO said "the amount stolen was miniscule (less than 00.07%) although the dollar amount was quite material." what... 0.07% was worth $8.7 million. So the market cap is $12,428,571,428? Looked through most of the website and still have no idea what they do...

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mtgx 9y ago
That seems to be closer to Ethereum's value, not Veritaseum's market cap, which is "only" $350 million: https://coinmarketcap.com/assets/veritaseum/ https://coinmarketcap.com/assets/veritaseum/
iraklism 9y ago
If I'm not mistaken, he was comparing the stolen amount to the entire market cap of ETH (currently 19bil), to make it sound like it was a small amount.
simias 9y ago
I love how the "Downloads" page only tells you... how to buy veritaseum tokens. Apparently their team consists of 3 people too, only one of them being a dev. I'm trying very hard to figure out what they do exactly, apparently they create "Forensic Analysis and Valuation reports" and then sell them but instead of selling them for ETH or BTC they sell them in their own VERI tokens? I think there's more to it than that since the homepage says (in an image I've had to transcribe): "Veritaseum enables software-driven P2P capital markets without brokerages, banks or traditional exchanges". I wonder what percentage of their ICO "investors" really understood what they were pumping their money into. I also hope that some people are thoroughly documenting and archiving all these ICOs, it will make for a very interesting and I'm guessing entertaining post-mortem.
dna_polymerase 9y ago
The hacker stole their BS coin VERI, so he stole 0.07% of all VERI. I guess he can't even sell this crap coin anywhere, because why the fuck should anyone buy Veri now?
- anthonybsd 9y ago
  The hacker turned around and sold stolen VERI right back to the ICO investors, so he/she got ether back right away.
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    [deleted]
subroutine 9y ago
When there is a "$", as in $8.7 million, does that mean $8.7 million USD or 8.7 million internet points? If USD how do they come up with that exchange rate?

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mtgx 9y ago

That seems to be closer to Ethereum's value, not Veritaseum's market cap, which is "only" $350 million: https://coinmarketcap.com/assets/veritaseum/ https://coinmarketcap.com/assets/veritaseum/

iraklism 9y ago

If I'm not mistaken, he was comparing the stolen amount to the entire market cap of ETH (currently 19bil), to make it sound like it was a small amount.

simias 9y ago

I love how the "Downloads" page only tells you... how to buy veritaseum tokens. Apparently their team consists of 3 people too, only one of them being a dev. I'm trying very hard to figure out what they do exactly, apparently they create "Forensic Analysis and Valuation reports" and then sell them but instead of selling them for ETH or BTC they sell them in their own VERI tokens? I think there's more to it than that since the homepage says (in an image I've had to transcribe): "Veritaseum enables software-driven P2P capital markets without brokerages, banks or traditional exchanges". I wonder what percentage of their ICO "investors" really understood what they were pumping their money into. I also hope that some people are thoroughly documenting and archiving all these ICOs, it will make for a very interesting and I'm guessing entertaining post-mortem.

dna_polymerase 9y ago

The hacker stole their BS coin VERI, so he stole 0.07% of all VERI. I guess he can't even sell this crap coin anywhere, because why the fuck should anyone buy Veri now?

anthonybsd 9y ago
The hacker turned around and sold stolen VERI right back to the ICO investors, so he/she got ether back right away.
- deleted 9y ago
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subroutine 9y ago

When there is a "$", as in $8.7 million, does that mean $8.7 million USD or 8.7 million internet points? If USD how do they come up with that exchange rate?