No such deal exists :/ . I wish we could get the funds and avoid what's coming, but I also appreciate those who were not involved coming forward with whatever information they can provide. I can't say much else per counsel.

SYS team took a day off today I hope the community can cut us a break given recent events we did get a new tipbot up though because @jonn4y doesn't stop! We'll have an official blog posting up tomorrow (yeah I took a day off too!).

We really do appreciate the community's support in this matter, and the media support as well. The community needs to understand how much this kind of thing impacts the crypto-currency scene as a whole. If this really is another "mt gox" situation than this is a big step back for us all and people should demand change.

Bolding and huge-texting my own yes we are moving on. Right now top priorities:

- New DNS Seed (done)
- 0.1.5 RC3 feedback - have you tried it out yet?! (go try it out!)
- New tipbot for IRC (90% complete)
- Figuring out roadmap impacts of latest news - will have post tomorrow on our blog

We appreciate all the support the community has shown and are maintaining our course re: the vision for Syscoin outlined in our blog posts. The services this coin can and will provide will take things to a whole new level.

Hah, this is the closest we could get ya: https://www.cryptocoinsnews.com/syscoin-threatens-moolah-legal-action-missing-funds/

Legal letters have been served to all involved parties and Moopay LTD itself by our legal counsel. We cannot make the content of this document public for at least 72hrs due to UK Law.

Once our counsel advises us that we can disclose the contents of the complaint, we will make it publicly available. We are making sure to do everything by-the-book here to maintain the open-and-close nature of this case.

We are not going anywhere. No matter what we will continue to work on Syscoin

We have been advised to not say anything more in public until after the deadline, but the initial escrow agreement stands

Just to be clear we aren't stopping anything until we have the 750 BTC owed to us in a wallet we control. Alex/Moopay LTD has <24hrs to make this happen. We are moving forward with everything needed to begin litigation against him and Moopay LTD tomorrow. We've already provided Alex everything he needs to make the BTC payment.

Our understanding is that he is currently in Singapore with a business associate. Regardless of where he is or why he is- we've made our position very clear. We will contact authorities in whatever locales necessary and provide them with any/all identifying information (including pseudonyms, past names, and business associates he may be staying with in Singapore) to authorities in the appropriate locales. If the BTC is not disbursed to the Syscoin team this amounts to theft- plain and simple; and no small theft at that (~$285k USD).

If/when we enter into litigation we will also be seeking damages for the depreciated funding, time, effort, and legal fees associated with this initiative. In that figure we will also take into consideration how this has negatively impacted investors and Syscoin's progress as a whole.

We will continue to keep the community posted.

UPDATE

I can confirm Alex Green / Moopay LTD have sent the Syscoin team the amount reflected in this wallet - http://blockexperts.com/sys/address/SfZrsfQHw9FiQzy6wk4Ni1miXZsCY3yjN5. This is the amount purchased using 250btc of the escrow funds as "buy support" during the launch.

We have given Alex/Moopay LTD until 21:00 BST Oct 17, 2014 to release the entirety of the Syscoin escrow fund in order to prevent litigation. We have provided him with the contact for our legal counsel in the interim- we have not started litigation yet, but are fully prepared. We have not contacted UK Police as of yet. We will continue to keep the community posted on the action being taken here.

We appreciate the community's support in this issue. We have no contract in place enforcing the 250btc/month payout that Alex is checking if its ok to "break" with his legal counsel. Additionally the self-imposed due date of 250btc being paid out on 10/14 has already been missed (leaving Moopay LTD in breach of their own agreement).

We see absolutely no reason for the fund not to be released in full.

Thanks, yes this has been crazy but hopefully people see that through and through- we're committed here. Really appreciate your support @pmalek (and everyone else's as well of course).


You're correct especially about the BTC and its declining value at the moment. For this reason we will be pursuing damages as well through the litigation we are seeking against Alex Green / Moopay LTD.

Keeping my commentary on the matter short per legal counsel. There is still time for Moopay LTD to avoid all this litigation, they have the addresses to send the funds to and it takes all of 2min to do so.

It appears a large wallet has just shown up on the Syscoin blockchain, roughly equivalent to the amount of SYS purchased using 250btc of the team's escrow fund as buy support early on during the launch issues. Hopefully this will be turned over to the team shortly, if so we can avoid legal action entirely (provided the related BTC is disbursed as well).

http://blockexperts.com/sys/address/SfZrsfQHw9FiQzy6wk4Ni1miXZsCY3yjN5

+1

I want to thank everyone for their support through this troublesome time. The latest news which brings into question the identity of "Alex Green" - who goes by @slex here on BCT and is the CEO of Moopay LTD- owner of Moolah.io and Minptal (currently) is very troubling. While the true facts of that situation are still being uncovered one thing is very clear- the Syscoin team needs the escrow funds that were being held by Moopay LTD and we need them in full.

We made this request known to Moopay LTD / Alex Green and his associates over 48hrs ago (with exact amounts, and addresses to send payment to) after they failed to meet their own deadline on 10/14 and pay the October disbursement of 250btc to the Syscoin team. There has been zero meaningful communication from anyone at Moolah / Moopay LTD since missing the disbursement deadline, which coincidentally is the date they published their "bankruptcy" blog post. The next day this changed and Alex posted they would not be going bankrupt. Alex has posted his public resignation and has been very active on reddit overnight as well but refuses to acknowledge the outstanding 750btc owed to the Syscoin team.

This is now a legal matter and we have solicited representation in the United Kingdom to file the appropriate documents. We are also communicating with police in the UK related to the matter as well. If you are having problems with SYS private keys obtained from the launch, this unfortunately is not something the team can assist with and is in the hands of Moolah/Alex.

The Syscoin team remains committed to developing Syscoin and being one of the hardest working teams in crypto regardless of the circumstances. We will have an official blog post up later tonight regarding this matter after speaking with our legal team.

This entire legal process can immediately be avoided by Moolah / Alex Green by disbursing the escrow fund in full, before we file paperwork with the local [UK] court system. Disbursement addresses for the BTC and the SYS have already been provided to them.

Good to see some more people supporting this coin! @kingscrown knows his stuff- tells you something if the coin is getting attacked! 

You can count every single member of the development team in that group who bought btc to buy ipo.....

Except we didn't sell for a loss - we haven't sold at all.

If investors chose to sell at a loss that is their choice and theirs alone.


Yep.  


We're fixin this right now, sorry we've been overwhelmed by traffic today it appears! https://twitter.com/AltCoinInvestor/status/522451085760679937

@stormia this is 100% accurate and given light of the recent news we are working with Moolah/Alex to arrange a full release of all BTC escrow funds and SYS (remember the team spent 250btc of the fund as "buy support" during the launch issues to allow investors to exit without taking any loss themselves, this equates to 50-60mil SYS from what we've been told). We did not receive the 250btc payment that was due yesterday (10/14). Once we receive the full fund, we do plan to add buy support.

We are waiting on a reply from Alex (@slex) at this point, we understand things are likely very busy on his end but given the size of the funding we're talking about here we'd hope this is addressed as expediently as possible. I've been on Skype since the Moolah blog-announcement broke last night waiting to talk to him.

As mentioned in the blog post yesterday evening the team is still fully committed to Syscoin and the vision it represents. Please excuse us if we're a bit slow on development over the next 2-3 days as we work to resolve the situation with Moolah and retrieve our escrow fund.

Thanks its painful to do, but imo required after the launch issues- we're serious about this stuff.


Been on it all day, started with 4 "issues" that imo needed to be resolved to constitute a legitimate RC3 and we're down to 1. Making solid progress   will keep everyone updated.


This roadmap will need updating due to the 0.1.5 cleanup issues but the features it represents are still 100% accurate - http://syscoin.org/roadmap

Lol and thanks @smaragda. Glad this user focuses on the important things  . No I don't expect tips; my sig is old and needs updating. It is also the lowest possible priority on my list.

When I take care of my top actual priorities, I can update my sig. My (and the team's) top priority right now is 0.1.5. Thankfully its Columbus day here in the states and some of us (me and some other team members) have the day off the dayjob. We're working on finalizing this 0.1.5 RC3 client. I really do apologize for the delay on RC3 its all in an effort to get the most stable RC3 out as possible.

I literally (some may have seen the github tag for a moment) had this ready to release last night when we hit one last issue. Talk about frustrating  ! We're doing this right though, will fix the issue then release.

Hey just a quick update- we have RC3 packaged and ready to go but hit an odd syncing issue  as we were packaging it; we're investigating this overnight before we release anything. Last thing we need is to release a wallet with issues syncing. We are literally burning the midnight oil to make sure this is stable.