The last few days have been the most chaotic for the members and supporters and investors of the skycoin team.

This started with harassment, beating and kidnap of the of the co-founder of the skycoin team Synth and his pregnant wife

The trigger for the events was the discovery that the previous Skycoin China marketing team (EVOLAB) had embezzled approximately 100,000 skycoins over the course of the past half-year. In light of this discovery and their failure to return or account for the embezzled coins, the relationship with this team was terminated.

On the evening of June 12 2018 at 9.30 pm, Synth and his family were illegally detained for 9 hours by the Shanghai Skycoin's Chinese Community Operation Team which they changed to (EVOLAB)

Nine individuals, including/led by marketing team members Sam Sing Fong, Mary Li (李臻/李敏), Xiangdong Yan (闫向东) and Jesse Sun Fei (孙飞) burglarized Synth’s home. They proceeded to hold Synth and his wife against their will for 6 hours, over the course of which they threatened, beat and robbed them. Thanks to wallet security measures, the group was only able to extract 18.88 Bitcoin and 6466 skycoins during the robbery.

The group also tried to steal core technology information such as the design framework of the Skycoin ecosystem but failed

Synth and his pregnant wife were in shock and was absent from the project telegram's group for days .

In summary, a large amount of SKY was stolen from the foundation.

Rogue members of the Chinese marketing team embezzled it.

They tried to blackmail the skycoin team to buy the coins at twice the market price by pretending to be third party

The skycoin team declined.

They were dumping the coins during the Binance trading competition.

The remainder of their coins were frozen.

They retaliated by kidnapping, beating, and threatening Synth and his pregnant wife.

On June 13, the injured party had already called the police. The police then proceeded to investigate the case

After the incident, the Skycoin team tracked the address of the gang wallets, submitted a complaint to the major exchanges, and requested the exchanges to temporarily freeze the relevant assets of the suspects. The freezing of the assets will be handled after the investigation of the incident is clear.

As of June 20, four of the nine criminals were arrested and detained by the police. Weng, as an accomplice, has been summoned by the police and is currently under bail pending trial. Further investigation is going on in this case and details will be furnished as they become available

In order to protect the interests of skycoin holders, as a response to these events a temporary blacklisting function was implemented. The future use of this function will be subject to discussion and voting by the entire skycoin community over the next few months once obelisk is implemented

The primary skycoin exchanges were notified asking them to temporarily freeze the accounts of the criminal suspects. Frozen assets will be dealt with after the investigation has been concluded. The skycoin legal team will supply an update on the aftermath of the armed robbery at a later time.

It culminated in John Otter Petters, CFO/founder of Triple Canopy joining the Skycoin advisor board to help with skycoin security plan.

The Chinese team responsible for this were not going to lie low, They fought back and got impostors in the skycoin telegram group to create fear and panic by accusing Synth and some administrators in the skycoin group of insider’s trading based on a voice recording made by Synth that was available to everyone who was a member of the telegram group.

The messages received on the main skycoin telegram group from June 14th to June 18th far exceeded all the messages that have been received since the beginning of the year.

A lot of them were paid and sponsored attacks from detractors and competitors.

Their message was clear. To create fear, uncertainty and doubt intentionally in order to put a competitor at a disadvantage.

They came with all kinds of stories just to create fear and panic and of course traders and speculators dumped their coins while real investors were picking skycoin up at bargain prices.

The skycoin project is the most attacked project on the cryptospace because it is obvious that its technology is first class and it speaks for itself.

Considering that skycoin gives every project its own blockchain with no fees and have fixed scripting, it is clear that with time, a lot of other projects in the blockchain space will become obsolete

It didn’t take long for the co-founder Synth to bare it all and tell his side of the story in an interview with Keith Wareing where he told told the story of the kidnap, factors leading to it and the consequent implications. Link below