CoinIdol to Hold Public Trial of Scammers Who Stole $10 mln in Bitcoin

Bitcoin Press Release: News Outlet invites every FinTech news outlet and every member of the crypto-community to join the jury in the case, where scammers have allegedly stolen about $10,000,000.

March 7, 2017 –, the Blockchain News Outlet that has an audience in 174 countries, is taking the role of organizer of a public trial.

To learn more about the case and rules of the public trial please visit:

When asked if it is not a job for international police George Gor founder of CoinIdol responded,

“The answer is simple. Blockchain projects got used to self-regulation instead of state regulation. The order is not settled. The biggest project, based on Blockchain technology, known as Bitcoin, is solving every question with public polls. The crypto community votes on what to do about every problem associated with Bitcoin. They don’t attract any authority. Moreover, Bitcoin was created to avoid authorities. Bitcoin is not recognized as a currency in many countries of the world. There are lots of countries where cryptocurrencies are called candy wrappers. Is it right to ask the police to regulate cases, where these candy wrappers were stolen? How do you regulate international scam cases with Bitcoin not in a single country but in the whole world? Why is it not a job for the crypto community?” wants to set a precedent, of how the community can solve legal issues that is not protected by the law. CoinIdol is aware that this very first trial is experimental. George continues,

“We are afraid of the results much more than anybody. We are not sure that this is the right way, but someone should dare to be first.”

The second reason for hosting the public trial is that news sites are the first system used by scammers during so-called false ICOs. Scammers and fraudsters ask them to write articles or display banners to advertise them. George Gor continues,

“Can the whole crypto world set a precedent, when we force scammers, who have stolen up to $10 mln in Bitcoin to pay $1,000 to charity? ”

The same scammers often turn to other media platforms, advertising and PR-agencies as well. Some of these platforms may agree to such jobs without properly checking all the details, and as a result, accidentally help fraudsters steal money from other people’s pockets. Johanna, COO and co-founder of Bitcoin PR Buzz comments,

“This raises two very important philosophical questions, both of which I battle on a weekly basis: Is it okay to scam the scammer and can an industry without law be lawful?”

Coinidol is asking every member of the crypto community to vote and answer these questions. As well as the honorary members, who we invited to be the leaders in this process:

– Charles Hoskinson, former CEO of Ethereum;
– Nathan Wosnack, Founder and President of Ubitquity LLC;
– Richard Kastelein, Founder of;
– Alex Matanovic, Co-Founder of Serbian Bitcoin Association
– Roger Ver, Bitcoin Jesus, Founder of;
– Rupert Hackett, Board Director at Australian Digital Currency Commerce Association;
– Bas Wisselink, Co-Founder at NXT Foundation;
– Eric Grill, CEO of CoinOutlet, a Bitcoin ATMs company;
– Stephen DeMeulenaere, Co-Founder of Coin Academy;
– Ivan Tikhonov, Founder of

Update 03/09/2017:

Nathan Wosnack, president of blockchain company Ubitquity, has chosen to resign.

“After careful consideration, and the feedback from colleagues along with my lawyer, I’ve been told I should withdraw from this public trial. It could result in legal ramifications along with bad publicity. I have heard from his friend that Jawad may seek legal action. Therefore, I’d like to ask to have my name removed from participating.”

The vote will end on March 17, 2017, GMT, and the results will be published on Monday, March 20, 2017, with comments from the jurors on why they have voted the way they did.

The voting formula is: the results of the community voting and honorary jury will be summed 50/50. We will take further action depending on the results of the voting. George finishes by saying,

“Please, support this initiative however possible with post, repost, like, comment or any other way. It doesn’t matter, if you have pros or cons, you should take part in this, if you are a member of the world crypto community. Cast your vote – don’t permit somebody else to decide for you”

To learn more and to vote please visit:

Media Contact Email: [email protected]

Disclaimer: CoinIdol is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The views and opinions expressed in this article are those of the authors, the information does not constitute investment advice or an offer to invest.