[Must Watch] Hive Engine Hacked -Btcmyk Security Solutions

Welcome back to the channel. I hope you're having a great day. So, poor video today, an unfortunate video, a scary video, but one in which, uh, hopefully we can, um, um, better assess the situation, see what happened, and, um, see what in the future we can do better, if anything. Um, And we're going to talk about the BitcoinNYK project in relation to this, why we think the BitcoinNYK project might be able to aid somewhat in this. So what happened today? Um, well, basically Hive Engine was hacked, all right? It was a very scary episode. Uh, 500,000 Hive were lost and 1.05 Bitcoin Um, so I haven't really checked up to speed. This happened several hours ago. With— if all the funds have been returned, I believe, uh, $500,000 Hive were returned, and it was only the Bitcoin that was remaining that wasn't returned. So I'm just going to read a quick excerpt from, uh, what the, uh, uh, the project creator, uh, Agro, had to say. In relation to this hack and, uh, you know, what's going forward in the future. So he goes, um, he talks about Hive Engine makes money, but I spend more money than what I make to turn this thing into something exceptional. So a $100,000 hack is enough to really blank with this project considering it's losing money every month while we're developing the core features. So my mind is flashing through all the options: tell people, hide it, close it down, personally guarantee it all, flee to Mexico. The whole panic thought line goes through my head, but ultimately I know the right thing to do is fess up as soon as possible and figure out how to secure this thing so funds are, uh, SAFU. So he writes this post, and the post is describing everything that happened. Um, and I, I, I'll leave a link in the description. You guys can go through this, but he says, I made more confident in that because they left these messages where it shows where they're returning his hive and they're saying, you're lucky this time, you suck. I think Your HoneySwap account is short on Hive. Wow. And, uh, this is crazy. This is crazy, guys. So, so let's start from the beginning with this. Um, you know, um, The Steem and Hive blockchain, these very interesting blockchains. Many of you all know the story of them. They're mostly well known for their, um, proof-of-brain algorithms, the DPoS algorithm, delegated proof of stake. And what you get with these systems is some of the more popular applications has to do with blogging. And I think this proof-of-brain algorithm works better in the blogging where you can upvote the blogs, right? And there's a rewards pool, and everybody who has more once over the network to get the up. Anyway, many of you already know the story about how Hive and Steam works. It also is very good on fast transactions, very user-friendly interfaces, I think. And so all in all, what happens on the Steam blockchain and its developments is a pretty a good experience, or at least it has been for me. Now I think the problem came about how we get to something like what's happening with Hive Engine is, um, the blockchains like Steam were Hive forked from. They were creating, uh, or planning to create smart media tokens, which was going to be kind of like the Steam, the Steam, um, blockchain's answer to like the ERC-20 token, where people can tokenize various projects and tokenize the internet, as it were, using these tokens. The, uh, the team with Steemit.com, they never were able to fulfill developing the Smart Media Token. And so, uh, it looks like, uh, using the SCOT protocol, people like Aggro began to taken on themselves to create a version of it, right? And they run them on their servers, this protocol. Now I have to applaud Aggro a great deal because as he says in this post, he's spending a lot of his money. He's not profit, he's not in profits as to what it's costing to run this thing. And I always wondered about that. He's not in profits to run this thing, But Tyrod, you know, he can see the future of what this could mean for these blockchains. And so this is very scary because, you know, he's doing this very altruistic thing and there's these great negative impact and cost to him in doing so. And so that's a bit of a problem. Also, it's a problem when you have hackers who can come in like this. We've seen things like this happen with centralized exchanges where Hackers come in, they hack you, you think it's over, they come back and hack you again and again, and it just— they can be relentless. And, and this can be quite concerning, um, for many of these projects that depend solely on, um, the Hive engine. And, and there's also Steam Engine, so they depend a great deal on— there's quite a bit of value moving through there. So it brings up the question now, what would this going on and being in this particular situation. Um, you know, as, um, you know, we, um, I don't look at some of these comments from the community, but as you know, from, from our perspective, you know, we don't Ah, well, I'm kind of speechless on this video, right? But we don't really know fully what's going on here, right? I, I don't even know if this means that they can come back. This, this, uh, person saying another incident that casts a shadow of Hive. Do you have a damage control press release plan? How does that affect the integrity of Hive, right? Our base product is the cryptocurrency itself. Were a loss of confidence, that would be very harmful. It's important to be proactive in these kinds of circumstances. I'm sure you don't need to remind— you don't need me to remind you that if that foundation fails, everything else that is built on top of it, for as wonderful it may seem, isn't worth the time of day. Um, now this is a good point, and this is the point I was going to make. This comment, commenter here says, I just read your message. I don't get this. Things have happened on the Hive Engine. Note, love, this is pretty far from Hive blockchain. This is very important, right? What this person got the Hive Engine blockchain confused with the Hive Crypto, uh, the Hive, um, blockchain. And this is, this is very important we understand this because these, uh, tokens that trade over this Hive Vision exchange, they aren't rooted in the Hive chain itself, right? So the native Hive token, what occurred on, uh, Hive Engine is not relative to, uh, what's happening on Hive Engine, right? The main node for Hive was directly accessed. That reads no server security problem to me. We know that. Does the outside world know that, right? And that's a good point. Maybe they don't know that, right? A lot of people might think it's actually rooted in the Hive chain, which it is not. And of course, um, public relations and communications is needed in that. But you know, of course, this hits home close to us because we're part of BitcoinNYK Project. And our cryptocurrency trades on Hive Engine. Um, and not only does it trade on there, but a, a good portion of our activity takes place on there, right? Our traders, our volume. Um, and we're also on Steam Engine, right? I think Steam Engine is getting a little bit more volume today than normal, but pretty much the same thing where you're dealing with Steam Engine or Hive Engine. Now, what's fortunate for the BitcoinMYK.com project, and this is where we have to clarify and help people understand, you know, we kind of for several reasons, decided to be a multi-chain, a universal bridge cryptocurrency that serves as a Bitcoin sidechain and also provides universal basic income. And we do all this for mass adoption, and we've become quite efficient at doing this and managing, um, the project over multiple chains. Because of that, it allows us to have certain options that maybe other projects don't have. You know, we have an offline wallet, so you're actually able to actually store your Bitcoin and YK token on offline wallet, um, so you can store your coins safe, and then you can just send the ones over to the Hive Engine or Steam Engine that you wish to send and trade with, right? So that can protect you from a lot of this, right? As well as keeping it a limited supply of the Hive that you're going to trade with on the Hive's Steam Engine exchange, right? So, so, so make sure that you— if you didn't understand that part, make sure that you roll back the video and, um, you know, listen to this again because it's very, very important that you understand this. Kyle, uh, writes, how'd they get in? That is the pertinent question. Anything with access to crypto keys should be locked down and crypto private keys to get into the box. Yeah, there's a problem because this gonna, this gonna happen again, right? It can possibly. And, uh, you know, again, I feel really bad, especially for someone like Agro, because Um, you know, some people have certain issues with them and problems with them, but he did try to create something, uh, that was needed in the ecosystem. And up, you know, it— I must say it was pretty successful. You know, it's had its setbacks, but, um, the fact he was able to do something other than nothing, something that, uh, the, um, the developers on the chain, Steemit.com couldn't do, I think he deserves quite a bit of credit for that. Like, many of our projects wouldn't have been able to come into existence and move the value that they did without his system, right? Many projects have to run on the Hive blockchain. They have to run on the Hive engine servers. Many of the tribes, so to speak, and although we're not a tribe, it just wasn't going to be possible for the type of project we're doing the versatility we needed to, to do that. But for the ones who are in that category, then without all of these developments here, they wouldn't have been possible to exist. So this is not the best situation at all, simply because we don't know how, you know, how serious this is. The way that these, uh, Ah, these hackers are taunting. Could they come back? Uh, they did still take 1 Bitcoin. That might be a fee they're gonna charge, you know. And that's— you're looking at $37,000. That's a lot of money to lose, especially after, you know, Aggro's operating at a loss, hoping for a future change. And, uh, Um, you know, you know, seeing that he's already, uh, you know, if he can, if he can take that loss, that's, you know, that's good for, that's good if he can do that, but you know, certainly must hurt. So here's the thing that we need to talk about, guys. BitcoinNYK.com, you know, this is the project we're running on. I highly encourage you all to learn everything you can about BitcoinNYK project. You know, we, as much as I hate to say it, we may be in a dangerous, somewhat a dangerous situation on Hive Engine and Steam. Although these are great projects, we might be in pretty dangerous situations with them. And, uh, we might need to have the flexibility and versatility to protect ourselves, uh, best we can if we're going to use them, which many of us have to use them because we're solely dependent on them. Um, what can be done? Well, you know, besides just kind of, uh, leaving your, uh, your value money off of Hive Engine and maybe just hold it in Hive or something like that. Um, you know, the BitcoinNYK project, our project is multi-chain. We have offline wallet, and to kind of explain briefly how it works is, um, tokens that are in circulation on Hive, in just the image, and they go through our gateway and, uh, they are burned off, or either that or put in cold storage. And we'll explain to you why in some cases we can't burn the tokens, but we have to hold them in cold storage. When, when that's done, those tokens are repopulated, right? Taken out of circulation on Steam, Hive, repopulated on these other chains that we're on, uh, right now. Popular ones: Bitcoin Cash, that we're seeing a lot of development in, and we'll get you over there real quick. Let's see what's happening there. Okay, we're on the Memo.cash application. It is a social media network that, uh, runs on the Bitcoin Cash network. And this is kind of interesting, it also has tokenization like what you have on Hive Engine, Steam Engine. The differences are they are rooted in the Bitcoin Cash chain right? So this is different from what we got there. You know, Bitcoin Cash is also a top 10 cryptocurrency. Highly secure blockchain. Very difficult, very costly, very expensive to hack. Um, now what's unique about what's happening with Bitcoin Cash right now is, uh, you're basically able to, uh, there's a lot of development building going on on Bitcoin Cash, right? Um, and so The BitcoinMYK token, which you've seen on the Hive, is in the Steem major blockchain because it is multi-chain. It's actually on Bitcoin Cash, okay? These are called SLP tokens, or Simple Ledger Protocol tokens. Now, uh, there's also activity with people on Hive and Steem checking out some of these applications because they are Twitter-like sites, and I'll I'll just show you, um, real quick what some of it looks like, but it's pretty much similar to the same. It's like people are doing tweets, they're earning on tweets, they're upvoting these things, and they have their own tokens integrated. So it's very cool, very interesting, right? In addition to that, you also have, um, um, you also have a similar thing happening on Noise.cash, which is also Kind of, kind of cool. I think the differences are Noise.cash just came out and they actually have a kind of reward system where I think people are earning pretty good Bitcoin Cash, and I think their product is, is paying out this money. Whereas with Memo, it's more about the tips coming from the community members. But just a lot of cool features with Memo, right? Because it is a token that's integrated into the chain, it's also able to move from all of the wallets that can hold SLP tokens, which is probably like 90% of Bitcoin Cash wallets. Also, the Bitcoin ATMs can as well. So let's tie this all in together. Why is this so important to what happened, what's going to happen with the BitcoinMYK project, what's happening on Hive Vision, what's happening on Steam Engine? So many of you have seen the BitcoinMYK project and you may have not quite understood it. A lot of people went past it. Some people invested in it. Between Steam Game Engine and Hive Engine. We have over 14,000 accounts. We have, uh, nearly 8,000 KYC registered accounts on our main platform site. So this is a very, uh, in comparison to many other applications, um, in the cryptocurrency space, this is one that's gaining a lot of people. And a lot of it has to do with it has the integration of Universal Basic Income program into it, right? So we're expecting to have a large amount of users being able to, to use us. Um, but this is all very important because, because we have a gateway that transfers cryptocurrency from Steam and Hive Engine to, uh, the Bitcoin Cash blockchain as well as the Waves blockchain, Polkadot blockchain. Um, uh, the Bitcoin Satoshi Vision, uh, blockchain, right? Uh, and as well as, uh, CC Swap. Uh, we have something like 5 or 6 different chains we're on that you can transfer this value to, right? And so, uh, because of our offline wallets, you could, in retrospect, if you were feeling a little bit uneasy about storing all your cryptocurrency on something like Hive Engine or Steam Engine, you could move your cryptocurrency, if it's in Bitcoin MYK, out of Hive Engine, out of Steam Engine, into an offline wallet, right, such as on the Bitcoin Cash Network. And you could also move it back to Hive Engine, Steam Engine anytime you like, right? And you'll be able to do that and feel more secure and safe about your cryptocurrency, your balance. Because unfortunately, much like what happens when centralized exchanges get hacked, you know, many times people— what happens is those exchanges, they close down, right? And they close down, and, you know, sometimes there may have to be a government come in or lawyers come in to recover funds. And this could be a long drawn-out process like we've seen with countless exchanges. And obviously we don't want that to be so much easier to move your, your tokens to someplace else until that's taken care of. You know, unfortunately, uh, with Steam Engine and Hive Engine, we really only have so many options in that, right? Since the whole project is created on these servers, um, and there's not so much that you can operate outside of them, right? Because that's where they're generating, created. So it's not like it's rooted in the chain much like Bitcoin Cash. Oh, it can— several wallet apps can access it. We can move it from project application to application. Um, So using our gateway, and I'll go over to BitcoinNYK.com to show you real quick what that's about. Okay, so over here on the BitcoinNYK.com site, uh, if you need, uh, to talk to us directly, contact— we have— we do have chat rooms and, um, instant message systems so you can reach us. This is talking about the offline wallet you can get where you can send your your Steam and Hive Engine version tokens of the BitcoinMYK token there. We also have the micro blogging area you just saw where our cryptocurrency is integrated. You can tip in our BitcoinMYK token on the Bitcoin Cash blockchain as well. Now, um, what I want to show you here on the site here and other features you can do your, um Uh, basically you can do your, uh, your research on your favorite coins and, uh, um, you know, you can actually get, uh, earn our cryptocurrency for doing it. You know, CoinMarketCap grew to a value— I was purchased, I think, by Binance for about $400 million, and I heard it was at a value about $800 million, right? Uh, just a coin tracking site. Um, Uh, we also have video interfaces where you're able to view your favorite videos, favorite cryptocurrency content creators. Uh, people who make the videos, they earn, uh, get more exposure from our site by putting their videos up by joining our BitcoinandYK.com partnership program, right? Which is pretty cool, similar to the YouTube partnership program, making video content, so on and so forth. But I think a lot better in some ways, right? So, um, that's what you got with that. And just an interesting site, uh, some, some things you can do here, um, whilst you're on the site. But let's get to the important thing here in relation to this video. I'm gonna go there, go to my menu. I want to go to the gateway transfer. That's how you're going to be able to protect yourself um, you know, in situations like this. So we're going to hit that, let that load up, open up the gateway. All right, and let's show you here what we got here. So this time at the gateway transfer fee, you're going to see several blockchains where you're able to send your, um, BitcoinNYK coins and, and, and get the, um, basically get the version of the BitcoinNYK cryptocurrency on that chain. This is a form you're going to send out and it's very easy. You're just going to designate where you're sending your cryptocurrency, the amount, the wallet, the receiver wallet address, And, um, your coins, your, your Hive and your Steem and your tokens are going to populate on those other blockchains where the BitcoinNYK token exists. They're going to be taken out of circulation on Steem and Hive, so they won't affect our supply or create any inflation because we are a deflationary coin. And voilà, that's going to be solved. Now the cool part is you're also able to send your tokens from High Vision Estepage directly to our offline wallet. I'm going to show you that real quick. All right, over here on Zapit Wallets. And Zapit Wallets is just one of these great wallets that, um, was built on the Bitcoin Cash blockchain. They have been speaking a great deal about creating some really great wallets Right, and, uh, you can actually send your Bitcoin and YK tokens from Steam Engine Hive through the gateway over to here, right? Safely store on it on the actual Bitcoin Cash blockchain, rooted in the chain. Now, how you would want to do this is If you were to secure some of your BitcoinNYK tokens outside of Hive and Steam Engine just so you're safe, the cryptocurrency you're not trading, right over the exchange, you could do that here. And when you get ready to trade them, you can simply send them back to Hive and Steam Engine, right? And problem solved. Voilà. You don't sleep, you don't lose any sleep, you don't lose any money. Particularly, um, the thing about the Bitcoin Cash network, as I mentioned, the these tokens are actually rooted in the chain, right? These are, um, not like the situation would happen with SMTs on Hive and Steam Engine. They're actually part of Bitcoin Cash blockchain, right? Um, and so you're safe in one of the most secure blockchains and networks in cryptocurrency, right? It's hard to hack Bitcoin Cash because it costs you so much, right? It has, um, a large percentage of the hashing power of Bitcoin. Well, not a large amount, but it has a pretty good amount. And I think when it forked, it had something like 6%. But, you know, of course, with the debacle with the Bitcoin Satoshi Vision and further forking, it's probably less than that now. But compared to other cryptocurrencies, you know, you're evidently dealing with a very much more secure a much more highly valued blockchain, right? Uh, you're talking about a cryptocurrency that to a lot of people in cryptocurrency is regarded as the real Bitcoin as opposed to the Bitcoin that doesn't get used. And that's up for debate, but I kind of fall in the camp where Bitcoin Cash is the real blockchain, and I base that on its fundamentals and its use and how it's being used, right? But that's a topic for another day. Uh, I would encourage you guys to rewind this video, right, to play back this video, to, um, you know, to basically, uh, listen to it over again if you need to so you kind of fully understand what we're saying here about how you can protect your cryptocurrency. Because the nightmare is— and we know that Aggro's doing the best he can, uh, we don't want to take that away from— I know he's working hard He's providing a good service for us even though he's not profiting on it. And I'm sorry to hear that, but that, that is a problem, uh, because, uh, good business gets done when people profit. And I believe in the future Hive Engine, Steam Engine products will be profitable. But, uh, you know, it's a lot of stress on, uh, trying to create products like this. So we have to, uh, consider the option that You know, Aggro might just decide this is a little bit too much. He might want to do something else. We might need to create, uh, another type of exchanges to help him out. So, um, in the event something like that does happen, um, you know, our cryptocurrencies could be in limbo. And so that's why I think multi-chain features, uh, options like Bitcoin NYK project has is important. Um, but anyway, I'd love to hear you guys' thoughts and opinions. How does this make you feel? Does it make you feel a little bit, uh, jittery, a little scared about what can happen to your money over the chain? Uh, I do— I, I have spoken to the BitcoinMYK project community, and I told them to be on the safe side, we might actually start moving some of our buy orders out and moving them into the Hive, back into Hive. And, uh, just kind of administering it from there, um, you know, holding it in the wallet and moving the funds back and forth there. So don't worry if you see the buy orders greatly reduced, um, we're just being on the safe side. Hackers can be relentless. We don't know if they'll be back. Uh, we've seen, uh, chains— or I'm sorry, centralized exchange— be attacked several times in a row, you know, and, uh, nothing could be done about it but the exchanges closed down and people out of their funds for months, years even. So this is serious and it is something we should be thinking about now and not later when something like this can occur. But I'd love to hear you guys' thoughts and opinions about it. What do you think this does for, uh, Hive, the Hive community, the Hive Engine project? Do you think this affects our project, BitcoinMYK.com? Uh, we do have other exchanges we trade on, so I would encourage you all that are skilled, you can move your cryptocurrency there, do some trading there. Um, but hopefully everything will work out okay. I really like the Hive community. I really like the Steem community and their technologies. Uh, they work very well with our project, which is a universal basic income project. So we want to be able to do transactions fast, free, simple, easy, or nearly free. Because you're receiving UBI, the last thing you want to do is pay heavy fees on the UBI you're getting. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, as always, take care.