6 Tales from the Crypt-o Vault

Nov 01, 2018 at 23:00

It is that season of the year when spooky stuff is the customary topic across all platforms. Earlier, we already warned about falling knives and bouncing dead cats that can be associated with Halloween.

This time, we dig deeper to feature far more weird and scary materials plaguing the cryptoverse. Pardon us for using the pun, but let us serve you as guides in traversing the weird side of “creeptocurrencies.”

They say the number six is the number of the devil so be enchanted with six stories that can possibly leave crypto enthusiasts questioning reality over FUD.

1. A CRYPTO MADE FROM RARE VIRTUAL MATERIAL

The word unobtanium has been connected to any fictional material or device that can achieve something so great that it is unimaginable. Think Marvel’s adamantium or vibranium.

As in the case of cryptocurrencies, a company capitalized on such idea and launched a coin branded as Unobtanium (UNO) which claims to be the platinum to Bitcoin’s gold.

With an intriguing website, one cannot just completely decipher if it is really serious or just fooling around with cryptocurrency traders.

The coin claims to have a max supply of 250,000 mineable coins.

The coin is currently valued at around $55 a piece with a market cap of $11 million. Unfortunately for them, their low supply got infected with a bad case of “nobody’s quite interested anymore,” as the interest in the coin seems to be even lower than its supply.

2. A VIRTUAL COIN OFFERING TO THE CTHULHU

A digital currency that intends to pool offerings to one of the most known monsters in popular fiction is a sure way to raise eyebrows and other hair strands. Its now defunct website used to call on investors to join the ritual that will benefit the creature commonly portrayed as a giant octopus living in the deepest parts of the ocean.

A 2006 artist depiction of Cthulhu.

This coin is now delisted from various exchanges for being inactive. Notably, it was developed by Blazr2, the anonymous persona who is also behind UNO.

3. UNDER THE SKIN

Turns out flash drive-sized cryptocurrency wallets aren’t small enough anymore. Some people keep their crypto security so seriously, they implanted their wallets right underneath their skins.
Stories of people who implanted their crypto wallets inside their bodies could either be a source of inspiration or disgust among readers. Though this story is becoming more and more common, the mere thought of putting foreign objects inside your body is cringe-worthy.


We just hope planting this chip does not mean giving up your soul to Cthulhu or some other crypto god.

4. CRYPTO FOR RANSOM

While the tales of from the underworld might give you goosebumps, real-world gambits are often the real and eminent threat.
With the widespread use and knowledge of cryptocurrencies, it had attracted the attention of scoundrels that thirst to score easy money.
Last May, the Bank of Montreal and Simplii Financial were attacked by hackers demanding $1 million worth of XRP for them not to release private information of as much as 90,000 clients.

The banks noted that the threat came from a Russian-based email as the hackers claim that they were able to gain access to clients’ accounts by using “a common mathematical algorithm.”

5. A WALLET THROWN INTO AN ENDLESS VOID

While this story has been shared and re-shared over a thousand times, the mental trauma this leaves us is simply scathing. The idea of losing thousands of dollars can leave you sleepless, but how about losing millions?
A trader identified as James Howells was said to accidentally threw an old Dell laptop whose hard drive contains at least 7,500 Bitcoins that is now easily worth at least $47 million or as much as $150 million back in December 2017.
Such incident can be a perfect reenactment of that famous movie scene featuring the Joker burning loads of cash just to send a chilling message.

At present, Howells is still hoping to find that treasure chest that is now believed to be buried under a landfill site with the size of a football field in South Wales.

6. THE BLOODY VALENTINE OF 2014

In February 2014, 850,000 Bitcoins that was worth $450 million at that time magically disappeared in the Mt. Gox exchange. The exchange that used to process around 70 percent of all Bitcoin related transactions suffered serious technical problems as it suspended all trading operations and closed its website.
Fast forward to today, the bankrupt company’s trustee Kobayashi said that enough BTC has already been sold to cover the claims of creditors affected by the sudden disappearance.
However, the drama behind this horror story is far from over as investigations are still underway to reveal the true reason behind this meltdown.
Coincidentally, the 2014 Mt. Gox exchange scandal was among the earliest times that Bitcoin apparently “died.” Talk about a walking, living, breathing, self-resurrecting zombie.