STEEM is Set To Freeze Another $5M Worth Of Hive Supporter Tokens


The headlines and controversy concerning Justin Sun’s management of the STEEM network seem never to end. Now, STEEM is reportedly set to freeze another $5 million worth of tokens in possession of nonconforming Steemit stakeholders and witnesses.

These network validators, referred to as ‘witnesses’, that have associated themselves with Sun, have authorized to freeze 23.6 million STEEM tokens as they accuse account holders of posing a particular threat towards the STEEM network.

That being said, industry critics claim that the hard fork spitefully hands out punishments to those who opposed the overthrowing of the TRON founder and the supporters of March’s Hive hard fork. This Hive hard fork is a community-driven fork that successfully froze the founder’s reward that Sun acquired within Steemit while also explicitly omitting him from the brand new network.

This particular hard fork follows through the soft fork from last month that successfully froze 17.6 million STEEM tokens that are held by witnesses.

STEEM’s decision to freeze $5M user funds

The specific code for the now-scheduled fork has 64 particular users within its list that will have their accounts and funds completely frozen alongside the coming upgrade.

A Steem witness, Triple A, accused the account holders that are affected by the oncoming fork of deliberately spreading fake news in a particular interview with Joind. he said that they are also intentionally writing offensive spam comments, openly attacking users, ransacking private information, and even handing out grave threats.

However, Twitter user and future sanctioned Steem user by the account name ‘pharesim2’, declared that the witnesses accuse them of various criminal activities even without concrete proof. He then added that his stake is currently amounting to more than 80,000€ and has bought 500,000 tokens last year.

Another Twitter user, ‘They Call Me Dan,’ added to this by tweeting that the oncoming upgrade will freeze his $600,000 worth of funds.

The affected users plan to fight back

As a response to the upcoming fork that will freeze their respective funds, the targeted users asked the entire crypto community to send a letter to various exchanges to urge them not to abide with Steem’s plans for the hard fork. They explicitly stated that they would be handing out civil liability to those who would support this said fork.

Vitalik Buterin, the founder of Ethereum (ETH), has something to say with this recent controversy. He tweeted the proposal for every Steem user to just migrate to Hive at this point. Justin Sun then answered that by rebutting that Ethereum users should then move to TRON at this point as well.

Sun had some issues regarding Hive recently. According to a speech he did at the Virtual Blockchain Week held at the beginning of this month, Hive froze his funds, which he then accused them of theft.


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