Fans of the NEO cryptocurrency may have noticed that last week’s uptrend has broken suddenly. In fact, it appears there is a lot of selling pressure across the exchanges supporting NEO. It seems some discussions on Reddit may be influencing the NEO price right now. At least one user has claimed that the NEON wallet changed the address to which they were sending money right before completing the transaction. The majority of the community feels that the allegation is utterly bogus.
What is Going on With the NEO Price?
The past few weeks have been nothing short of amazing for anyone holding the NEO currency. After successfully rebranding from AntShares, NEO has proven that the coin certainly has a lot of value to the right people. A few days ago, one NEO was valued at just over US$50, but that price has since come down quite a bit. In fact, the price per coin has fallen to US$35.84 and continues to decline across supporting trading platforms. There must be an ulterior reason as to why this is happening right now, yet no one seems to know what is going on exactly.
If a discussion on Reddit is to be believed – and it is probably not entirely accurate – there is something wrong with the NEON wallet. For those who are unaware, NEON is a wallet solution for the NEO currency. We all know cryptocurrency wallets can pose major security risks when it comes to safekeeping funds and sending money to the right addresses. This latter aspect is quite important, as it would not be the first time cryptocurrency wallet users have seen a recipient wallet address change out of the blue when transacting. This particular discussion seemed to indicate something similar was happening to multiple users of the NEON service.
The poster in question claimed that a Bittrex deposit had suddenly been redirected to an unknown address. When the user (allegedly) reported this strange occurrence to the NEO team, he was – allegedly –promptly banned on Slack for spreading “FUD”. We do not yet know the full story of what was said by both parties in this case, but bans are usually only handed out when users are either spreading outright lies or trying to aggravate other users when they feel they do not receive the help to which they are entitled. Either incident could have occurred here, but we cannot tell for sure.
[UPDATE] Afong from CoZ reached out to us with the following statement:
“Actually, when the user reported this, we spent several hours a day for over a week trying to help him out. We always make sure to hear people out and see if we can help. We take a very light hand on banning in our Slack channel (for better or for worse) so it takes quite a bit to get banned from there. In this case, taking up a massive amount of our time on an unsubstantiated claim when we could have been developing warranted the ban eventually.”
So far, the NEO community does not seem to believe this story one bit. One of the NEON developers in the Slack channel noted that the user had claimed the wallet had a secret bug which was patched later on. The same user also claimed that multiple bugs had been discovered in the NEO blockchain which would allow for this alleged bug to occur. Details regarding said bug were never provided, which does not make the job easier for developers by any means. Without evidence and with just a story that could have easily been made up, the ban on Slack appears to have been more than warranted. Again, we do not know the entire story, but the developer’s words would seem to be a more credible recollection of what was said.
It is certainly possible this particular user has seen his or her funds transferred to the wrong NEO address. Whether or not that is the fault of the wallet or due to the user’s computer having been compromised is unknown. In similar cases, a computer is compromised whereas the wallet works just fine. Cryptocurrency users need to learn to take better care of the tools they use to store wallet balances. Regardless of whether that is a computer or mobile phone, all devices are prone to malware attacks which often go by unnoticed until it is too late.
For the time being, it is unclear if these allegations have effectively driven the NEO price down. It is certainly possible users are concerned about the missing funds and how they could potentially be dumped across exchanges. Then again, there are no other credible records of anyone having similar issues with the NEON wallet right now. The most likely explanation is that there is no wallet bug, whereas the user’s computer was infected by malware or a keylogger which allowed a hacker to alter the transaction’s recipient address. This happens a lot more than most people realize, but it is not the fault of wallet developers.
This but is 100% true I was treated like a DOG and told I was a liar. People it is exceptionnal in this case but something is not honest
It is up 17% at this exact moment, I don’t see any continuing decline in the price
This is complete BS, you were treated like a customer asking for a refund without a receipt or any proof that you bought the item.
We tried to guide you through every possible way that we know how it might happen, it cost us at least 20 hours of support trying to help you. But you didn’t like the answer we gave you, after that you started to spread lies about bugs that your PhD friend discovered, but was unwilling to disclose to us in any way when we asked you for the proof, even stating that you would be rewarded handsomely if there was such a bug and it was discovered, you continued your barrage of FUD on the support and other channels.
Many users can attest to our willingness to help you.
This occurred to us (so far 10 users) there was no reason for myself to be banned where I have the developers the information in which the Neo is still unclaimed. I am not tech savvy but in the time span of about 1 week they told us who the same situation occurred about the same amount of money that we all had malware. We did use Mac computers and ran the malware test like they mentioned and came up nagative. In this time they were ddosed twice and had multiple issues with users claiming Gas. They decided to stop all transactions and the wallet while the developers worked out their kinx using us as if they were trying to help us. Instead they banned all us users that had issues!
Enigma wanted to do an ICO th other day. It happened that hackers created a website replica and people unknowingly deposited money before they knew it was hackers.
The interesting thing is Enigma just promised to refund all the victims that were affected.
I believed in their project, but we have found the developers are liers and do not care about us who LOST our money on an issue on there end.
This is completely untrue, the neon wallet had nothing to do with that. Anyone can see in the code that it’s impossible for the address to change on a whim. We are not going to refund for something that can not be proven.
Many of those users that claimed to have NEO magically disappear, had a very suspicious background. One was running a scam site, the other posted FUD in other topics constantly.
If there was anything wrong with the system and it was proven, there would of course be a refund. However we are not going to refund something that has no fault that lies with us.
I find it insulting you say we don’t care and we are liars. Not only did we spend hours of our free time trying to help you all, we spend our nights researching what could’ve gone wrong.
Besides we only banned 3 users that were constantly spamming and harassing in chat, spreading lies and claiming things without any proof whatsoever.
The confusing part is the so called bug that was found by the accuser was never given to the developers. The devs have a bounty for such bugs like this and if the details were given to them he would have received more in a bounty reward than he lost in his bad transaction.
Doesn’t make any sense, you want your money back and you can get that and then some by reporting the bug, but don’t want to report it. Seems fishy to me.
Hi I actually remember hearing about this in Slack when I had issues
with claiming Gas. This seems a bit fishy. I didn’t think the
developers were helpful. I experienced arguing with the developers
before getting help. Totalvamp was all about Neo and nothing can go wrong. They did fix the issue but I simply didn’t use the wallet anymore and noticed they came out with 3 updated wallets.
This was my experience if this helps.
I alsofollowed this discussion , the affected users contacted me on the slack forum for advice. Its always difficult to find a solution for their cases. But their were three cases that stand out on the same date (12the of aug if i can recall it). They all 3 used the neon wallet for transferring to Bittrex. They all got the same problem, their alts were deposited on a newly generated adress. They all used an iMac and the neon wallet. Is that caused by accident? I don t think so. The devs keep insisting that the were affect by virus or typed a fault deposit address. The 3 users sat they copy pasted their deposit numbers, so thats strange. In the next 4 days the entire wallet gets patched, including the copy paste function. Is this a messy coverup from a new alt coin? Truely i believe so !
If this is completely untrue, why is Neo Co Founder says its NEON wallet that generates a brand new address while sending out funds??? I have his msgs as proof. Neon devs say neo nodes generate new addresses and neo co-founder says Neon does. Who is responsible for our losses? You cant just respond here and think people are stupid and listen to you and still use neon wallet or invest on neo to lose all their life savings like we all did! We wont stop neo/neon. We will file police reports and contact any crypto news website we can to spread these incidents. Please guys share this and the reddit posts about such losses. I really appreciate your support
I swear one CoZ dev replied on reddit says Neo Nodes generate a new neo address and send your funds to that address if you input a wrong coin address or if your deposit address is missing a letter or has an extra letter or space. And then of someone who experienced the same loss and comes there for help, they say impossible! Your computer is hunted you have virus and we are sorry for your loss your funds are GONE! the other dev lie and hide the bugs. They don’t give a sh.. for their investors
Indeed there was a problem, and they corrected their wallet in a couple of days. Its easy the say a user is hacked, till now there was not a single thing that proofs that. Is there hacked software found on the users pc, Keyloggers and stuff. NOTHING. Custumorservice from NEO is very bad. Its normal the devs stick with each other. They are not paid for the moment, so a failed wallet is NO money.
The users who were affected if this were me as a group I would reach out
to a lawyer, any news publication (CNBC); FBI, local police, any sponsor you notice on the Neo twitter they announce. It sounds like the developers are not taking you serious. If you can affect the release date then I am sure they will surely listen to yall. Good Luck and hope this helps
But why did the user not report the bug that they were able to identify and claim the bounty reward for it? Why just state “me and my developer friend found a bug”, hold it over the dev’s head, and not claim the bounty?
Kinda hard when there is warnings that the wallet is in Alpha and should only be used on testnet. Its a “use at your own risk” situation unfortunately and I feel terrible for the guys that lots their funds.
I am simply giving suggestions because I was in the Slack and recall this situation. Also, on the Slack before any issues the Neon Wallet only had Mainnet where there were multiple issues using the Gas. Honestly, it was not until the 2/3 times the developers worked the kinx out and added functions and warnings afterwards. I did not post to argue bro but to tell the truth
The code is all open source on GitHub, you can go back in time and see the code as it was at exactly that moment in time. If there was a bug, point it out…
…has anyone else noticed that ” cryptohunter ” and ” wenthos” are the same person ? It seems this person is creating several personas to add an air of legitimacy to their unfounded claims.
I doubt he actually blamed the wallet, if you actually have proof why aren’t you posting it?
also you completely took the answers out of context and fabricated your own answer from that.
If you send to a wrong address nodes will create a new address from that. That’s what you were told.
you can file police reports all you want, but in the end none of us are responsible since every single piece of software you used is open source. And the wallet is still in alpha
the wallet is in fault we are investigating now
you again loll we are on it people experience the same thing around the world all the exact same event this is seriously a bad habit you have to deny it is only a bug
this is serious we need to take action against NEO because the dev from the wallet are denying there will be a greater scam later
shut the fuck up I am real and we have a lot of people ..but this is not FUD we did not start FUD because this is real
https://neotracker . io/address/AaT6x3SRDGi4ZJxd3WXechHgQLrtLePZ6p
Thank you
That is what is happening right now and the LEAD DEV for NEON you forgot that SEC is to busy with the ICO but Wallet are also coming
Thank YOu
no it is not the market is buy NEON wallet and NEO are seperate SCAMMER are the NEON not NEO ….NEO is cool
good luck with that, let us know if you find anything
stop spreading lies
with a response like that you expect anyone to take you serious?
then prove it, you have nothing but empty words.
again prove it, you are spouting nonsense
how am i going to do this when nobody gives a sh… about it?? i have been telling you alllll that i send the funds to my gas address at the exchange, instead it went to an address that was generated the same SECOND as my transaction. if i had access to that new address, it would have been created before the transaction. but it shows the same date, hour, minute, and second. now you tell me, if this is not a proof that the wallet had a bug that generated that new address, than what could be a proof to you? how else can it be proven? why are you guys lying and hiding things? you think all the people are stupid and they dont know you are ignoring me and other guys with same loss case and make them look fake and scammers? people can check my transaction time and the time the address was generated and received my funds. it needs basic knowledge and everybody has that.
i did not see that warning when i downloaded the 0.0.3 version. if city of zion has added that warning now, i am not sure. but FBI will find that our. in any case, when a wallet is offered to people who deposit and withdraw 1000s of dollars, it cant be sooo risky. if it is, then the creator must be responsible for it.
I’m experiencing the same problem sending NEO with NEON wallet as well.
https://uploads.disquscdn.com/images/59fe0f7860b0a40ac937d4989c7085e9a82e426c8e225d6d91920ce5b7a9bae3.png
But the funny thing is, even though the address(Transaction History 1st entry) is different from what I generated and pasted from Bittrex, the 1 NEO appears in my Bittrex account after 1 minute.
Why is the address in the transaction history different?? Anyone knows?