BTC-e hacked ??

[Zlob]

Yes, I am about to lose around $200k btc-e. Yes, this is basically all the money I made the last 15 years. Great. I was standing in front of the window already. And all because I liked to trade from time to time and stayed most of the time in fiat.

So sorry for your loss man . Not feeling great with 100k+ losses here either. Right now it's just a waiting game, I'm still hoping but it's not looking great.

So, the guy arrested was either the CEO or just an admin. An interesting part is, the news reports say that the guy was arrested at Monday morning and at Tuesday, either an automated script kicked off, writing the twitter statements or another CEO or another admin noticed that something happened (more likely) and cut everything.

I noticed the last two twitter statement was issued exactly 24h apart. Smells a bit like an automated script tweeting..

Here on the forum, the admin btc-e also did the post, so it's not a robot, I hope to inform at least once in a day. Do not invent a robot
https://bitcointalk.org/index.php?topic=2045826.160
Yesterday the admin was a few hours here, apparently reading us, but condescending to copying the post from the tweeter

[ahmedjadoon]

So BTC-E is fined $110 million. There is no way BTC-E will be able to pay this amount from their own pockets. Definitely, all site assets( which are in fact btc-e users funds) will be used to pay up this fine. So, at the end of the day innocent users from all around the world where no fucking USA laws apply will suffer and their legitimate funds will be seized by United fucking america.

Does anyone has any idea how much would be the total sum of all users' balances? Can we expect some partial refunds after fines are paid?

[stingray454]

https://www.coindesk.com/110-million-btc-e-fined-us-vows-crackdown-unregulated-exchanges/

That's it then. Life savings gone, fun times.

[Old_Timer]

110 Million is 44k bitcoin not game-braking sum

However all is speculation until now.

They seized one admin, now probably the team is playing the waiting game until they see what they are really up against.

Don't be fooled the arrest could be followed by a network attack at BTC-E.

Once situation clears I am sure they are going to try to bring the service back online.

I am sure they will impose a limit on withdrawals per day/week/month to keep everybody in.

Also they could Tax us with a percentage if they decide to pay the fine, ask us to verify in order to look legit or even seize the funds of supposed money launderers.

I believe that this is not the last of BTC-E


To anybody who is trapped big, be calm and stop thinking about it, let the game play out. They are not your "average" exchange, they are very old in the game, they know how to play.

[stingray454]

They seized one admin, now probably the team is playing the waiting game until they see what they are really up against.

My guess? They take all the users funds, buy coins, wait for aug 1 and a few days later, reap $100M+ in profits and pay off the fines. But I'm really not sure how they would start up the site again if it's deemed illegal.

[bj9k]

If BTC-e restart their business their employees will face US charge for running unlicensed exchange and could be arrested when they step into any country that signed treaty with US for so called aml laws but actually called "you won't take a dime out of US citizens anywhere unless US gov have a deal with your country". In one form it all started several years ago when all non-US online gambling sites were forced to close all accounts of US citizens.

With that treaty US can issue arrest warrant in any of those countries that have signed that treaty with US. In that treaty those countries (but not US!) agreed that they will inform US when any US citizen is doing any business with their, foreign, financial institutions. On the other hand, with that treaty US took no obligations to send information if secondy party treaty citizens do any businesses with with US financial institutions. EU and many other countries were forced to sign that treaty and in all banks of those countries that have signed that treaty you must sign a note that you are not US citizens and not doing any job or having obligations to US tax laws.

BTC-e employees must now decide are they safe enough to resume exchange and will they be safe when leaving their current country of residence.

MT4 servers are still replying but logging is disabled. Response time increased from 150ms to 450ms but it could be my connection issue.

[erk]

They seized one admin, now probably the team is playing the waiting game until they see what they are really up against.

My guess? They take all the users funds, buy coins, wait for aug 1 and a few days later, reap $100M+ in profits and pay off the fines. But I'm really not sure how they would start up the site again if it's deemed illegal.

Nah, they would dispute the validity of the charges.

I still don't understand why the exchange shut down, unless their hosting was cut off as part of the Vinnik arrest, though the servers were not in Greece.

[Sukovsky]

I think it'll all work out. Let them figure stuff out. Probably after 1 Aug it'll all be up and running.

[OmegaStarScream]

The last update they gave on their twitter doesn't look promising, I have some doubts, I believe they are trying to buy some time to vanish once for all, 5-10 days is enough to make them use multiple exchanges and hide their tracks, and since their identity is not known, this make things much easier.

[coinking17]

Well I managed to dodge 2 bullets, got out a month before Gox went down and a couple of months before Cryptsy but 3rd time unlucky on BTC-e

I had around 10k invested in BTC and Eth.

I guess it all depends too if BTC-e has money in bank accounts other assets etc. They must have made a crapload of profit over the years, so holding on to hope that somehow we can get at least some of our investment back.

If all else fails what are the chances of a class action or the likes happening. Why should innocent investors get shafted because of a minority breaking the "law"

[stewart2012]

i THINK some people like give yourselves fake hope  

BTC-E  team all are thief . if they want return all members want withdraw their coins or their funds .. its certain ... is it possible ? withdraw for close to 100000 member for example ?

any body can trust to them after this events ?

i am sure they never back ... they pay fine and enjoy of your funds for some month in bahama and then maybe make another exchange site with different name ...

[cryptomole]

Lesson learned hopefully.. Never store your funds with someone else.. This is basic Crypto 101 and everyone needs to practice it. All these years that have passed with so many people losing their coins to exchanges and people still haven't learned to keep their coins in their own wallets.

If people want to be stupid and store thousands of dollars on someone else's website then I say they are idiots and their loss is their own fault.

Thanks for the really unhelpful comment!
We werent storing coins there - we were trading them!
You cannot trade from cold storage...

[coinking17]

Given the US is trying to bring about sanctions on Russia

https://www.reuters.com/article/us-usa-trump-russia-kremlin-idUSKBN1AB1Q3

and the arrested person is a Russian citizen, what are the chances Russia fires up over this and it turns into a real @#$%fight.

[BTCLovingDude]

Well I managed to dodge 2 bullets, got out a month before Gox went down and a couple of months before Cryptsy but 3rd time unlucky on BTC-e

I had around 10k invested in BTC and Eth.

I guess it all depends too if BTC-e has money in bank accounts other assets etc. They must have made a crapload of profit over the years, so holding on to hope that somehow we can get at least some of our investment back.

If all else fails what are the chances of a class action or the likes happening. Why should innocent investors get shafted because of a minority breaking the "law"

this is most probably not a hack but instead a problem with the law. things like money laundering that the news say come to mind.
in that case you may get the "lawsuit" not the btc-e because you were trading cryptocurrencies there anonymously without reporting your taxes!
as far as your money is concerned if you have not been doing anything illegal and paid your taxes you may have a hope in getting it back.

[ft73]

Given the US is trying to bring about sanctions on Russia

https://www.reuters.com/article/us-usa-trump-russia-kremlin-idUSKBN1AB1Q3

and the arrested person is a Russian citizen, what are the chances Russia fires up over this and it turns into a real @#$%fight.

Zero chance.

[liondani]

Hope that's a lesson for the majority, to use the centralized exchanges only for a couple of hours max. and then sent the coins back to their private wallets,
or even better just use **decentralized exchanges** like the very well known bitshares,openledger,nxt,counterparty,nxt,nvo(soon),bitsquare,akasha(soon),0x(soon),exscudo(soon),openANX(soon),waves, and so many more in the works!

They still have not enormous volumes but if we switch to them, "problem" is solved.
Begin to use them guys, it's the only way to win the battle against the governments and keep our hard earnings somewhere safe.

[smartcrypto]

Does anybody notice newbie accounts posting negative things in this thread? it's fishy and sounds like fud. (I do know the news of arrest of alex is real).

[Tigggger]

I'll be very surprised if they ever come back online.

Sure it looks like someone else has access to the servers, that could be good news, but put yourself in their place.

At the moment they may still be anonymous, but your partner in crime knows who you are and he's probably going to tell the authorities everything in the coming days/weeks/months.

Also you know you are now a target of the US, so why set up again and give them more chances to find you, much easier to take the coins you already have and stay out of their way, I expect the 5-10 days note is just buying them time to wrap things up.

[Sukovsky]

I have a verified account, I pay my taxes and am not a US Citizen. Call it denial, but I'll keep some hope until the rektening is final.

[deisik]

i THINK some people like give yourselves fake hope 

BTC-E  team all are thief . if they want return all members want withdraw their coins or their funds .. its certain ... is it possible ? withdraw for close to 100000 member for example ?

any body can trust to them after this events ?

i am sure they never back ... they pay fine and enjoy of your funds for some month in bahama and then maybe make another exchange site with different name ...

It makes no particular sense

There are quite a few "other exchange sites" out there, and how many of us are using them? On the other hand, if they get off cheap (read the clients' funds are intact), they could just fire up their servers in some really neutral country like Switzerland (or even in Mother Russia herself, which would be the best option if they manage to negotiate favorable terms with the Russian authorities). Btc-e has a name, and if they keep the money of their clients in complete safety, they will get out of this even stronger, as someones who successfully and rightfully fucked up Uncle Sam himself. I also don't think that this is the end of Btc-e (I don't have a financial stake in the affair but I can certainly feel your pain)