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Justice served as Justice Transactions takes away 2.22 BTC from bad nodes

Justice served as Justice Transactions takes away 2.22 BTC from bad nodesJustice served as Justice Transactions takes away 2.22 BTC from bad nodes

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According to BitMEX ‘s report, a little over two (2.22) BTC, worth twenty-three thousand dollars were removed from the dishonest nodes via security measure Justice Transactions, employed by the Lightning Network.

A section of the report emphasized the security measure Channel Closure that tends to restrict the dishonest Lightning nodes to shift the funds on the second layer of the Bitcoin network. As stated in the report that if a thief is caught while trying to steal the funds on the Lightning network, not only the stolen money is lost, they actually lose all money in relevant channels.

Previously, about two hundred and forty-one transactions amount to a little over two (2.22) bitcoin worth twenty-three thousand dollars about 0.7 percent of all transactions were identified, that warranted the justice channel closure. However, as conceded in the report, statistics might have been different had there been a more advanced mechanism used while the data was scrutinized.

As per the report, the fraudulent activities were at peak during February 2019 when about 0.67 Bitcoin worth seven thousand dollars were seized, then in April around 0.4 Bitcoin worth four thousand two hundred and ten dollars, followed by 0.20 Bitcoin worth two thousand one hundred and five dollars in May.

The study accepts that based on the gathered information, a little over two (2.22) BTC is the best estimate. However, this number does not imply that attempt made and failed by thieves in order to steal 2.22 Bitcoin, as the dishonest nodes could have punished those thieves with a more considerable amount than that of which they intended to steal.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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