Mar 20, 2017 at 19:14 // News

Coin Idol Author

CoinIdol has finished the public trial of scammer Jawad Yaqub. The decision of the trial jury and the crypto community activists: to send the money to charity.

CoinIdol has finished the public trial of scammer Jawad Yaqub. The decision of the trial jury and the crypto community activists: to send the money to charity.



The open vote started on the March 7th, 2017 with the article “CoinIdol to Hold Public Trial of Scammers Who Stole $10 mln in Bitcoin” and the question “Can we force scammers who have stolen up to $10 mln in Bitcoin to pay $1,000 to charity?”



CoinIdol asked community members to participate in an open vote on whether to:

1. Not to return money to Jawad Yaqub, but rather send it to a charity organization

2. Return money to Jawad Yaqub, whether he is a scammer or not



The process was controlled by a group of honorary jury members, who hold the keys to the wallet with the funds and can fulfil the will of the crypto community following the results of the public trial.



CoinIdol has sent the funds of $1,000 (according to the rates on March 7, 2017) to the multi-signature address 3EZ7DhAbwmzx7xFjfyhsoFDA3ZTmy6cQeS.

Every member of the honorary jury agreed to fulfil the commitment:

“Following the voting results, we will transfer the funds wherever the community chooses, however, in the case of unforeseen circumstances, the jury can decide what to do with these funds. To do so, the majority of the jury must agree, or at least 6 of 10 signatures are required.”



CoinIdol committed before the start:



“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.”



Today, on March 20th, we publish the results of the vote

Results of the crypto community votes:







57% of the honorary jury members and 83% of the crypto community voted “not to return money to Jawad Yaqub, but rather send it to a charity organization”.

43% of the honorary jury members and 17% of crypto community voted to “return money to Jawad Yaqub, whether he is a scammer or not”.



CoinIdol summed up the votes according to the formula “50/50” and the final result: 70% of community voted to send money to charity.



You can follow the development of the public trial and read the arguments of the honorary jury members.

Not to return money to Jawad Yaqub, but rather send it to a charity organization:

- Ivan Tikhonov, Founder of Bits.media (https://coinidol.com/ivan-tikhonov-i-consider-razormind-as-a-scam/);

- Mike Lorrey, co-creator of the cryptocurrency BitGold, predecessor of Bitcoin (https://coinidol.com/mike-lorrey-dispute-resolution-system-to-deal-justice/);

- Eric Grill, CEO of CoinOutlet, a Bitcoin ATM company (https://coinidol.com/eric-grill-free-press-performs-as-watchdog/);

- Stephen DeMeulenaere, Co-Founder of Coin Academy (https://coinidol.com/stephen-demeulenaere-no-need-to-create-any-form-of-constitution/).

Return money to Jawad Yaqub, whether he is a scammer or not:



- Aleksandar Matanovic, Co-Founder of the Serbian Bitcoin Association (https://coinidol.com/aleksandar-matanovic-how-i-ended-up-defending-the-bad-guy/);

- Rupert Hackett, Board Director of the Australian Digital Currency Commerce Association (https://coinidol.com/australian-expert-votes-refund-money-to-crypto-scammers/);

- Bas Wisselink, Co-Founder at the NXT Foundation (https://coinidol.com/bas-wisselink-we-should-treat-razormind-like-gemcoin-scammers/).



Supported the trial, but abstained from voting:



- Charles Hoskinson, former CEO of Ethereum (https://coinidol.com/charles-hoskinson-roger-ver-about-coinidol-fight-with-scam/);

- Roger Ver, Bitcoin Jesus, founder of Bitcoin.com (https://coinidol.com/charles-hoskinson-roger-ver-about-coinidol-fight-with-scam/);



Removed from the jury due to changing their mind on supporting the trial:

- Nathan Wosnack, Founder and President of Ubitquity LLC (removed from the jury, March 9);

- Richard Kastelein, Founder of The-blockchain.com (removed from the jury, March 9).



Now, CoinIdol will search for the right charity organisation to send these funds to. We will make an announcement with the details of the following steps tomorrow, March 21st.