Steem has completed a soft fork which sanctions the account that went rogue and sent 23.6 million STEEM to Bittrex in protest of a recent hard fork.
Steem has executed a soft fork to restrict the rogue “community321” account from making transfers after the account sent nearly 24 million STEEM to Bittrex in protest of a hard fork that sought to freeze the funds.
While Steem has claimed that the hard fork was intended to protect the Steem community against malicious actors, critics claim it was intended to punish supporters of the Hive hard fork by freezing their funds.
Steem sanctions community321
An update posted to Steemit on May 22 announced the completion of a soft fork sanctioning community321, stating that “the community no longer has control over the account.”
On May 21, Steem completed a hard fork to freeze 23.6 million STEEM associated with Steem stakeholders who supported the community-led Hive hard fork.
Hive opted to freeze the founder’s reward of roughly 20% of the total Steem supply that Tron founder Justin Sun inherited alongside purchasing Steemit in February to prevent Sun from exercising voting rights on the new chain.