Dear Sumcoin Community.
For nearly 5 years Sumcoin has existed and often times attempts have been made to list this Index priced coin onto conventional exchanges which defy the basic logic of the Bitcoin whitepaper. Nonetheless, developers and contributors have stepped up and put real money behind making the wish of the community come true.
Like any third party, once you no longer hold your own coin, you place yourself at substantial risk to losing any coins you deposit. Everyone saw this with SatoExchange. As of today, Stex.com appears to be taking the same posture.
Stex.com was notified of the fork which occured when the rouge group calling themselves “Sumcoin Community”.
Stex.com has never been willing to cooperate with the Sumcoin developers and as of today they issued the following in an email.
Dear STEX Trader,
The developers changed the code (fork) of the SUM project. According to the new SUM coin code, all transactions do not exist in the block explorer. The STEX does not support the transition to the new code leading to the loss of blocks. Therefore, in case the SUM coin developers team provide us with the old node that supports all lost blocks then withdrawals on STEX will be enabled. Currently, the communication between us and SUM coin developers team does not bring a positive outcome.
Please note that these actions characterize SUM as an exit scam project. In order to protect our users, we’ve decided to start the delisting procedure and stop any support of SUM coin on STEX.
Project info: www.sumcoin.org
Stex.com has been notified to take down these false assertions and retract the statement. Stex.com is simply following the chain which was attacked by the Sumcoin Community scammers and attempting to lay blame on the actual Sumcoin Developers. We have communicated the issue to them but they are being stubborn and now trying to call the project an exit scam. Developers and contributors paid 3 BTC to have SUM be on this platform. Forks do occur. Communications have been made with Stex and it their responsibility to keep up. Not lay blame. If they wish to operate on a chain that is unsupported then they can do this. But they also have an obligation to support the chain paid to be supported – and this is the major dilemma for months which causes harm to everyone.
Here is the proposed solution. Developers of Sumcoin are willing to cooperate with Stex.com but they cannot attempt to say this is our doing. We are all their customer and have paid to be. We encourage you to reach out to them and let them know a solution can be found but not when they ignore our teams communications. If two chains should be supported then that is ok. But it should be with the goal of merging those two chains as quickly as possible and avoid confusion, coin loss or other issues.
Feel free to share your thoughts on Telegram chat about this topic