This whole thing stinks to me. He's prioritizing higher deposits because that is the liability. The issue is that there may be a lot of small deposits with a large sum of BTC. He's ignoring all of that.

I've e-mailed and heard nothing back.

I'm considering that we start contacting legal authorities on this.

I do believe TF was hacked. I get that. What I don't get is the handling. This hack seems like an excuse to rob everyone and not communicate, etc. It's grossly unfair.

I'm thinking for those in the U.S. we follow this advice:

http://travel.state.gov/travel/cis_pa_tw/cis/cis_4522.html

I intend to start that tonight.

Based on this USD fiat conversion, I would get back about 18% of BTC I put in. The value of BTC is much higher now, I don't want USD back obviously. The question is where did the other 82% go?

If the 4100 coins stolen where 82% of the funds that means that 5000 coins where on deposit.

According to the thread: https://bitcointalk.org/index.php?topic=328053.0;topicseen more than 6000 coins where deposited.

Even if I assume that all of the loans won't be paid back (which is, I imagine, typical of a lending service) the numbers do not add up. We are all taking a huge loss and there is no explanation of where that loss goes. The BTC didn't just disappear, someone has it. The hacker has some, the borrowers have some, and TF has some. How is it that the borrowers take the cut and TF walks away with 1000's of BTC worth several 100 thousand. I'm not buying it.

CryptoUser01

For people who are interested in how the 100% fiat settlement is calculated, here's a worked example:

Deposit 10 BTC on Sep 29th, considered $1430 deposited
Withdraw 1 BTC on Oct 2nd, considered $127 withdrawn
Deposit 1 BTC on Oct 16th, considered $154 deposited

Added together: 1430-127+154=$1457

The $1457 figure would be your re-denominated balance if you choose to accept, which is ~100% of the fiat value. Payment would be made in BTC using the latest MtGox ask.


Is this not your email? graet@ozco.in

Update

The situation is I'm facing extreme difficulties in getting most borrowers to honor their obligations - the BTC rally doesn't help. To name a few that have been impossible to reach (when talking about their debt):

https://bitcointalk.org/index.php?action=profile;u=70557
https://bitcointalk.org/index.php?action=profile;u=17548
https://bitcointalk.org/index.php?action=profile;u=70541
https://bitcointalk.org/index.php?action=profile;u=35121

(Borrowers can deposit to CL via BTC address).

Many security issuers like CreativeX have gone missing, but thankfully in the past days Deprived and arij came back, and Crypto-Trade divs have been successfully paid on their own exchange. ASICMINER isn't doing well which is the collateral for many (defaulted) loans.

The reason why there's no email update is that I'm primarily waiting for other people that are not responsive, which results in having to pass on the non-responsiveness. All of CL's liquid coins were stored on Inputs and what's remaining are debts and assets that took a significant wipe (we still have borrowers that are communicative, thank you!, but the BTC rally is definitely hurting them and us, especially modification proposals).

Lets see what happens, my CD was terminated but I didn't receive my full payment. I'll be happy with my initial investment returned.

Nesa:1:0:U

am i the only lender that finds it unfair, that borrowers can repay loans instant without any extra intrest?

Basically all the loans that are taken within spikes, get closed soon after and are retaken with lower intrest.

This leads to low intrest loan running for ever and lenders simply never participate in the high intrest rates.

E.g. I take a borrow offer at 365 day with 80% intrest and half an hour later the contract closes and he retakes with then lower 50% or whatever...