BTC-e hacked ??

[bj9k]

https://etherscan.io/address/0x8eb3fa7907ad2ef4c7e3ba4b1d2f2aac6f4b5ae6

500 ETH went out, 10 mins after Update4. It's a sign, like that input of 54.635 ETH approx 10.000$ 4 days ago.

[1714998006]

1714998006

[1714998006]

1714998006

[platitude]

For someone that had 6 figures in fiat when the site went down the second statement doesn't sound great, but I'm hoping everyone will be reimbursed no matter if you were in btc or fiat.

US citizens as well as EU citizens can crowdfund for lawyer and return their money in court, i think

[saeidza]

For someone that had 6 figures in fiat when the site went down the second statement doesn't sound great, but I'm hoping everyone will be reimbursed no matter if you were in btc or fiat.

US citizens as well as EU citizens can crowdfund for lawyer and return their money in court, i think

You know how much you should pay for a lawyer to take your money back ? :|

[bj9k]

For someone that had 6 figures in fiat when the site went down the second statement doesn't sound great, but I'm hoping everyone will be reimbursed no matter if you were in btc or fiat.

US citizens as well as EU citizens can crowdfund for lawyer and return their money in court, i think

It does not matter what was your exchange balance. Probably half of users were into fiat. Having fiat balance onto exchange does not mean that you have a share of their fiat bank account as that does not increase or decrease their bank fiat balance. Exchange balance is just a number, not hard cash. No matter if your exchange balance is fiat or crypto, you actually never own coins or fiat until you request withdrawal.

The main issue is with leveraged MT4 positions. Will those positions be liquidated when trade was stopped or left to be auto margin called if trade resumes?

[Sukovsky]

It would be ridiculous if they'd only refund the people that happened to be in coin at the time of the takedown. I was in the middle of trading, switching between fiat and coins every hour. If they do refunds, and they don't have access to fiat, they better give me crypto at current exchange rates.

[zombie_steve_jobs]

Soviet Russia is best exchange!

[SEELE^^01]

Update from btc-e admin (my own translation):
"Update4!

Current information:

1. We have access to our database and wallets, at the moment we are checking our data, cryptocurrency balances, this information will be published till next week end.
2. We confirm that our main financial flows were associated with Mayzus Financial Services Ltd and at the moment this money are seized/arrested.

With respect, btc-e support"

huh Oo?!, i thought mayzus was a hand in hand partner or even owned btc-e?

dammit, i was nearly 90% in fiat before takedown...

[OMlite]

It would be ridiculous if they'd only refund the people that happened to be in coin at the time of the takedown. I was in the middle of trading, switching between fiat and coins every hour. If they do refunds, and they don't have access to fiat, they better give me crypto at current exchange rates.

It will not be ridiculous, unfortunately.
It is a quite interesting situation.
If we take in consideration how exchanges work, we have to keep in mind that they do not actually "constantly exchange" our orders for real.
They only make real transactions when you cash out (in fiat or in crypto)... otherwise it is all a matter of database records that keep notes about how much do you have. Like a register.

All this considered, your position was not really in FIAT neither in Crypto.There were not signed transactions on the blockchain for every order you made, neither FIAT transfers for every sell.

I do not know how they will evaluate the situation.
The only logical step is to use snapshots of users' balances at the moment of the takedown, and use these snapshots.
But they cannot convert every FIAT balance in crypto. They will not have the coins to do that.
Neither the FIAT (due to the seize) to re-buy them.

I have hopes for BTC-e, they seem legit and they seem to have respect for innocent traders like us.
But we have to keep it real. They have been take down and seized by 6 US agencies.
There will be losses.  Especially on the FIAT side due to the fact that the takedown mainly effected FIAT bank accounts.

[kekadam]

Update from btc-e admin (my own translation):
"Update4!

Current information:

1. We have access to our database and wallets, at the moment we are checking our data, cryptocurrency balances, this information will be published till next week end.
2. We confirm that our main financial flows were associated with Mayzus Financial Services Ltd and at the moment this money are seized/arrested.

With respect, btc-e support"

Where is original post? Cant find it

[platitude]

Where is original post? Cant find it

https://bitcointalk.org/index.php?topic=2063529.msg20598977#msg20598977

[stingray454]

My guess (or, hope rather) is that they will take the users balance at the time of the takedown no matter what coins or fiat you were in, and give a corresponding amount of btc back. Also if they lost coins, it will probably be a withdrawal limit at the start so that not everyone tries to pull their coins at once. But overall it sounds promising, at this point I'll be really happy to just get the coins back, it's way better to have missed out a couple of k on trading than to lose your entire balance. If the btc-e team pulls this one off, I'll be damn grateful.

Fighting the US government in court trying to get something back sounds damn near impossible after reading about it a bit. Basically they have the right to confiscate any cash or property suspected to be involved in criminal activity. Even if users were innocent, we "lent" our cash to the btc-e team for trading, and if they are suspected of crimes, their accounts are up for grabs no matter who they owe money to. I'm guessing they will use the funds that they still have (which seems to be most of it) and add some of their own money to reimburse users, and then if/when it's settled in court they'll probably get the seized funds back. I guess.

[platitude]

My guess (or, hope rather) is that they will take the users balance at the time of the takedown no matter what coins or fiat you were in, and give a corresponding amount of btc back. Also if they lost coins, it will probably be a withdrawal limit at the start so that not everyone tries to pull their coins at once. But overall it sounds promising, at this point I'll be really happy to just get the coins back, it's way better to have missed out a couple of k on trading than to lose your entire balance. If the btc-e team pulls this one off, I'll be damn grateful.

Fighting the US government in court trying to get something back sounds damn near impossible after reading about it a bit. Basically they have the right to confiscate any cash or property suspected to be involved in criminal activity. Even if users were innocent, we "lent" our cash to the btc-e team for trading, and if they are suspected of crimes, their accounts are up for grabs no matter who they owe money to. I'm guessing they will use the funds that they still have (which seems to be most of it) and add some of their own money to reimburse users, and then if/when it's settled in court they'll probably get the seized funds back. I guess.

If BTC-E will continue to operate in normal mode it will be the best ever promo operation sponsored by FBI
And yes, they still have a carzy huge fine that sould be paid

[OMlite]

My guess (or, hope rather) is that they will take the users balance at the time of the takedown no matter what coins or fiat you were in, and give a corresponding amount of btc back.

This will be nearly impossible
They cannot have coins to cover all the FIAT balances.
Due to the fact that... the money was in FIAT balances.
And that FIAT balances have been seized.

[TheKoziTwo]

So OKPAY froze the fiat of BTC-E by LE request. This isn't really too big of a surprise... will be interesting to see if they have any fiat left or not, and if they go with socialized losses or no fiat refunds.

Statement on okpay.com:

2017. 07. 31.

In connection with the closure of one of the largest cryptocurrency exchanges (BTC-E) by US law-enforcement agencies, false information was posted by anonymous person(s) on the website btceclaims.github.io about alleged involvement of myself (Sergey Mayzus) and my companies OKPAY CY LTD and MAYZUS Financial Services Ltd. with the BTC-E exchange. I hereby declare that neither myself (Sergey Mayzus) nor the companies OKPAY CY LTD and MAYZUS Financial Services Ltd. that I own are in any way related to the BTC-E exchange, its owners, or employees.

The OKPAY trademark and the website www.OKPAY.eu are owned by OKPAY CY LTD.
The MoneyPolo trademark and the website www.MoneyPolo.com are owned by MAYZUS Financial Services Ltd.
The website www.OKPAY.com is managed by MAYZUS Financial Services Ltd.
Services provided to customers through the website www.OKPAY.com are provided by MAYZUS Financial Services Ltd.
OKPAY CY LTD, since its founding until today, has not had a single client except for test customers who are residents of the Republic of Cyprus.

MAYZUS Financial Services Ltd. might have had among its clients, through the services of MoneyPolo and OKPAY, legal entities who could be operators of the BTC-E exchange, or private persons who could be owners or employees of the BTC-E exchange, however, all accounts of legal entities or individuals whom we considered as possibly related to the BTC-E exchange, are blocked, which was properly reported to the financial regulatory authorities. In addition, information about these individuals and legal entities was forwarded to the law-enforcement agencies of Great Britain.

On July 26, 2017, a request was sent by the lawyers of the above companies to GitHub Inc. as well as to unidentified owners of the website btceclaims.github.io demanding that the libelous content about myself (Sergey Mayzus) and the companies that belong to me be immediately removed from the above-mentioned website. However, up to this day we have not received a response from the owners of the above website and have not come to an understanding with GitHub Inc., which brought the lawyers of my companies to start preparing a lawsuit against GitHub Inc. and the owners of the website btceclaims.github.io

I ask the editors of the media outlets monitoring the situation around the BTC-E exchange to refrain from disseminating the libelous information published on the website btceclaims.github.io, and those who had the imprudence to publish this information in the first place to remove it immediately in order to avoid further legal consequences.

Sincerely,
Sergey Mayzus

https://www.okpay.com/hu/company/news/mayzus-official-statement-in-connection-with-btc-e-closure/

OKPAY is trying hard (almost desperate?) to refute any connection with BTC-E, which, given the horrific charges is totally understandable. If I believe it or not, I'm not so sure. What we do know is fiat deposit to btc-e was sent directly to OKPAY's bank, and it appeared as if BTC-E merely was a user at okpay. Was this option available for other merchants as well or just BTC-E ? The limits for extended verification was far too low for a business like btc-e to operate, so they must have had some special verification that I was not able to get at the time or simply that I was not aware of (I asked support for higher limits than what extended provided but was told there was none, I remember thinking at the time how the hell does btc-e operate then ?).

[TheKoziTwo]

My guess (or, hope rather) is that they will take the users balance at the time of the takedown no matter what coins or fiat you were in, and give a corresponding amount of btc back. Also if they lost coins, it will probably be a withdrawal limit at the start so that not everyone tries to pull their coins at once. But overall it sounds promising, at this point I'll be really happy to just get the coins back, it's way better to have missed out a couple of k on trading than to lose your entire balance. If the btc-e team pulls this one off, I'll be damn grateful.

Fighting the US government in court trying to get something back sounds damn near impossible after reading about it a bit. Basically they have the right to confiscate any cash or property suspected to be involved in criminal activity. Even if users were innocent, we "lent" our cash to the btc-e team for trading, and if they are suspected of crimes, their accounts are up for grabs no matter who they owe money to. I'm guessing they will use the funds that they still have (which seems to be most of it) and add some of their own money to reimburse users, and then if/when it's settled in court they'll probably get the seized funds back. I guess.

If BTC-E will continue to operate in normal mode it will be the best ever promo operation sponsored by FBI
And yes, they still have a carzy huge fine that sould be paid

They will not pay that because they also have to serve up to 55 years in jail first. To pay the fine they must reveal themselves. They are forced to be on the run. Best case is they show USSA the finger and relaunch the exchange in its full glory, on darkmarket if they have to. More realistically I think they will just do refunds and that will be it, which is still a big fuck you to USSA, and I'll love them forever for it.

[stingray454]

I have a hard time thinking they will not reimburse any fiat at all. If they want to keep operating as an exchange, it simply won't work to tell half their userbase that their cash is lost and they will have to live with it. There might be some intermediate way to solve it. Something like, you get one "token" per $2500 (whatever the btc price was at time of takedown), and you can trade those for btc with a maximum of 5/month or whatever. That way they can slowly reimburse users for the full amount without having to spend millions on day one. Just a guess, but similar solutions has been used before.

[jojo69]

If BTC-E will continue to operate in normal mode it will be the best ever promo operation sponsored by FBI

this

overnight they would become a beacon of global liberty, it would be a powerful statement...and I would start fearing for their physical safety

[bj9k]

Most guys never read previus posts.

Your exchange balance is not influencing exchange bank accounts the moment when you trade.

It is just a number with some value. You own cash or crypto only after withdrawal.

[stingray454]

If BTC-E will continue to operate in normal mode it will be the best ever promo operation sponsored by FBI

this

overnight they would become a beacon of global liberty, it would be a powerful statement...and I would start fearing for their physical safety

+1. Can't say that I've been very pro-russia before, but with all the latest developments in the US they are surely going downhill. FBI meddling in legitimate users cash in foreign countries is just ridiculous, making me truly despise the US. If then the russians can solve the situation and make everything right, that will be a huge win.

(not that I know if I should attribute it to russia as they are not operating there and russia is banning crypto, but at least the btc-e team will have my admiration).

[stingray454]

Most guys never read previus posts.

Your exchange balance is not influencing exchange bank accounts the moment when you trade.

It is just a number with some value. You own cash or crypto only after withdrawal.

So this would mean that it should not matter if you were in btc / ltc / eth / fiat or whatever else, all users should be reimbursed no matter what. Let's just hope we get the full amount (IF paybacks are happening, but it seems to be the case)