Will IOTA Users Stop 'Losing' Their Coins Now?

in crypto •  2 years ago 


Things haven't always been easy for IOTA. Since the decentralised internet-of-things foundation was launched in 2015, it's been accused of possessing a small handful of bugs (that weren't always bugs), and a significant minority of its users have had their MIOTA tokens stolen as a result of using (unsafe) websites to generate new 'seeds' (i.e. passwords).

And it would seem that, recently, its token holders have been having a different kind of problem: they're checking into their wallets, only to find that their MIOTAs have all vanished.

However, as with many of the other 'problems' affecting IOTA, the issue stems less from a flaw in the platform's design and more from a misunderstanding of how this platform actually works.

The case of the missing MIOTAs

The latest issue has made intermittent appearances ever since MIOTA was first listed on the Bitfinex crypto-exchange in June 2017. It became more prevalent recently after April 29, when the cryptocurrency had increased to USD 2.03 from about USD 1.09 at the start of the month.

The following complaint – posted to Iota's own forum on April 29 – is fairly typical, underlining the sense of exasperation and panic some MIOTA holders have experienced.

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  ·  2 years ago (edited)

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