Dash Investors Receive Lost Funds Following Suspected Exit Scam

Michael LaVere
  • Dash users have begun receiving their lost funds from masternode operator MooCowMoo. 
  • Moo ceased paying rewards in August, leading some to suspect an exit scam. 

Dash investors have reportedly begun receiving their lost funds following the sudden disappearance of former Dash Core Group senior advisor MooCowMoo.

As previously reported, MooCowMoo ran a masternode management service called masternode.me that ceased paying user rewards in Aug. 2019. Users were required to send MooCowMoo 1000 Dash (~$50,000) in order to host a masternode in addition to paying a flat service fee. 

According to a Reddit post, Dash users have suddenly begun receiving their lost funds in the form of payouts from MooCowMoo. Rather than being upset, some users praised the former Dash Core Group senior advisor for finally taking action. 

The post reads, 

Moo has finally been woken from his slumber and is currently sending the money back to its rightful owners. So much for "exit scam". Looks like this one backfired, huh? Anyway: Big fat thank you for resolving this!”

In addition to individual anecdotes of users receiving funds, the Dash Core Group also provided news outlet Bitcoinist with screenshot evidence confirming that MooCowMoo had returned the funds. 

Featured Image Credit: Photo via Pexels.com

Ethereum Was Behind 85% of Dapps' $12 Billion Volume in Q2 2020

The total transaction volumes of decentralized applications (dapps) in the cryptocurrency space hit $12 billion in the second quarter of this year, rising by $4.5 billion compared to the first quarter. Etheruem dapps accounted for 85% of the volume.

According to DappRadar’s Industry Review report, there are more than 70,000 active wallets across 13 different blockchains interacting with the cryptocurrency space. The top blockchains were EOS, TRON, and Ethereum, with the latter representing $10.2 billion of the $12 billion volume seen in Q2.

Ethereum’s large transaction volume was partly fuelled by Compound and the launch of the COMP token, which led to a “yield farming” trend, in which users were interacting with the protocol as much as possible to receive COMP tokens. Compound saw $1.2 billion move through it.

The yield farming trend saw Ethereum gas prices and transaction fees increase, which according to the report did not stop Ethereum dapps from thriving in general. It did, however, contribute to an 80% drop quarter-on-quarter for ETH gaming dapps, as high gas prices are “killing” their activities on the cryptocurrency’s network.

Despite Ethereum’s growth, EOS and TRON (TRX) dapps have also seen their activity increase in the second quarter of the year. According to the report in only three months, TRON’s transaction volumes on decentralized applications surged by over 17,200%.

The rise was largely attributed to Oikos.cash, a TRON-based version of the Compound lending protocol.  While TRON’s DeFi growth has been notably, DappRadar pointed out that most dapps on its blockchain are still in the “gambling” and “high risk” categories.

The EOS blockchain has still been enduring the effects of the EIDOS token airdrop, which put the network into “congestion mode.” The airdrop clogged the network and as a result, from 2019 to 2020 wallet activity on decentralized applications dropped 53%.

So far this year, $1.9 billion have been transacted on decentralized applications using the EOS blockchain, thanks to two dapps: Crypto Dynasty and Upland. DappRadar’s report also shows that two other blockchains are growing thanks to gambling dapps: WAX and ThunderCore.

Featured image via Pixabay.