$50-$100 Million In Crypto Allegedly 'Stolen','Extorted', By McAfee's Accountant, HitBTC and Yobit, Team McAfee CEO Reports

  • Team McAfee's CEO Jimmy Watson recently claimed that between $50-$100 million in crypto tokens had been stolen by the ICO marketing firm's accountant Luke Jenkins.
  • Claiming to have verfiable evidence of the theft, Watson has also alleged that exchanges HitBTC, Yobit, and TopBTC are involved in "laundering" and "embezzling" millions of dollars in cryptocurrency.

In a recent guest post on NullTX, Jimmy Watson, the CEO of crypto and ICO marketing company Team McAfee, has claimed that Luke Jenkins is “refusing to give back [cryptocurrencies] valued at fifty to one hundred million dollars.”

Watson also noted that Jenkins had been hired to “receive, account for and hold tokens or payments received by John McAfee and Team.”

Verifiable Evidence

The Team McAfee CEO further revealed that Jenkins had received millions of dollars worth of digital currency, which includes large payments in ether and bitcoin. Going on to accuse Jenkins of “embezzling” millions of dollars in cryptocurrency, Watson claims that huge amounts of tokens have been “outright stolen.”

Watson then noted that his claims can be verified through well-documented “chief executive is sworn statements”, emails exchanged between Team McAfee’s advisory team, accounting details of McAfee’s partnerships, various eye-witnessed accounts, smart contracts, and transactions publically available on block explorers.

"Hundreds" Of Complaints Received

He added that “hundreds of individuals” had sent him numerous complaints regarding the theft since the past two months. Watson also alleged that many

“innocent people were stolen from and taken advantage [of] by the most corrupt institutions we have ever seen.”

Jimmy Watson

The Team McAfee CEO claims that cryptocurrency exchanges HitBTC, TopBTC, and Yobit have been involved in the embezzlement of enormous amounts of cryptocurrency.

Watson also noted that Team McAfee has “investigated and tracked over thirty cryptocurrency addresses in [their] possession.” Their investigation, according to Watson, has led to the discovery that two individuals working for Team McAfee and “possibly” another two people at HitBTC have embezzled funds by using the exchange to “launder money.”

The Team McAfee executive further claims that recently “several” crypto exchanges and related partnerships have supplied evidence of the “intentional malice” planned by Luke Jenkins and two other “accomplices” over the course of the last three months.

"Outright Theft" And "Defamation"

Watson added that his team members had requested many times that Jenkins return the stolen funds, while “stressing the seriousness of repercussions.” Per the Team McAfee CEO, the crypto marketing firm tried “numerous respectful approaches” to “retrieve McAfee assets but to no avail.”

After many failed attempts, Watson wrote that Team McAfee will now plan to “legally retrieve the stolen funds.” Notably, he also claims that Jenkins’ responses have been “nefariously submitted with accusations inlaced in extortion.”

According to Watson, Jenkins’ parole officer is “involved” as well and that him and “two others [will soon] face severe criminal charges.”

Elaborating on the allegedly serious nature of Jenkins’ actions, the Team McAfee CEO claimed that the trusted accountant has been involved in the:

“outright defamation of character toward John McAfee and Team, and the overtly disregard for the United States Justice Department penal code has been well noted. It is the last thing we ever wanted for him or any other person; however, Team McAfee’s silence has been mistaken for ignorance. Thus, I’ve decided to [legally] pursue any and all persons deciding to use malicious and criminal methods to harm and any and all who choose the same path will be prosecuted.”

Jimmy Watson

Strict Warning To Criminals

Watson then issued a strict warning stating,

“Any exchange, wallet, person or entity, who receives John McAfee’s tokens or funds and does not immediately return them or block Luke Jenkins and accomplices will be held [legally] accountable for [accepting] stolen funds.”

Jimmy Watson

He also also warned that there have been reports of people posing to be from Team McAfee who actually are not, and that the company’s current employees are clearly listed on its official website.

Furthermore, Watson has offered to “give several examples of [their] knowledge of theft by two individuals” who had previously been employed by Team McAfee. So far, the Team McAfee CEO has provided the following list of digital assets allegedly having been stolen, “missing” or embezzled:

Assets Missing:

3 Million Eristica

200 million CryptoSecure

Crypto Tokens Sent Off Or “Laundered” Via Exchanges:

45 million Skraps

935,520 Docademic (MTC) (sent to Dex.top exchange and “some” sold)  

Millions of (additional) Docademic (MTC) “laundered”

Sent To Crypto Exchange HitBTC:

999,980 Sether (SETH)

8,490 Bitcoin Private (BTCP) 

12,599,908 Bezop (BEZ)

Ravencoin Vulnerability Allowed Attackers to Increase Total Supply by 1.5%

Attackers have exploited a vulnerability found in Ravencoin, an open-source fork of Bitcoin that launched in 2018, to generate extra RVN tokens “beyond the coinbase of 5000 RVN per block.”

According to a Medium post published by Ravencoin lead developer Tron Black, community members from the CryptoScope team reached out to the Ravencoin team with the findings. Both teams then worked together to stop the exploit from being leaked, and started “code review to detect, isolate, and fix the issue.” The post reads:

A community code submission caused a bug that has been exploited. Law enforcement has been notified and is working with us. The vulnerability does not allow the stealing of RVN or assets that you own and control, but the minting did create RVN that should not exist.

In total, the extra coins that were minted beyond Ravencoin’s total 21 billion supply are the equivalent of 44 days worth of mining, or about 1.5% of the RVN tokens that will ever exist. Black’s suggestion on the post was for the community to absorb the economic cost of the extra tokens, or to move the halving 44 days earlier.

He added the minted RVN tokens were moved to an exchange and traded, and as a result were mixed with other circulating RVN tokens. This means that trying to burn the tokens, even if with community backing, will “cause irreparable harm to innocent victims.”

The burden, Black added, is currently being shared across all RVN holders in proportion to their holdings in the form of inflation. The developer urged users to keep trading to a minimum until a fix is issued. Details on the vulnerability will not be revealed until the fix is implemented.

Featured image by Tyler Quiring on Unsplash.