BTC-e hacked ??

[miner16]

Yea, many have crazy fees or just dont service the UK market.

My first though was Gdax as they have some real good price swings, but learned they do not offer none US ability to trade USD pairs.

[1714649027]

1714649027

[1714649027]

1714649027

[Error 522]

Yeah I am pretty thrilled with their response.

Amazing ethics from the folks at btc-e.

Put the filthy criminal USA to shame.  We can see who are the good guys and who are the bad guys here 

[TheKoziTwo]

Such crap.
So if you had a balance of crypto on btc-e before, you get 55% of it in a BS btce token which will only be available on their system. Then can convert it to the base coins they have on hand at their price (currently all high) and can only withdraw 55% after. Also the btce token will crash hard and fast as people will start to get their funds out.

Sounds like utter sheyt to me.

Wow, you are so full of shit. BTC-E is showing exemplary behavior. Not only are they on the run from FBI, risking 55 years in jail and had half their funds seized. They have a $100m fine sent their way and they are STILL working their ass off to pay us back what they have left after the thieves in USSA came and robbed them, and not just that, they even have a plan to recover more, including plans to fight back through legal means. BTC-E are being fucking gods and you whine like a little bitch. There is nothing they could have done to improve this situation further. They've done everything in their power. So shut the fuck up man. I bet if you were in their situation you would have stolen all the funds and curled up in a corner somewhere, you ungrateful bitch.

If they held the crypto balances safely, they are up over 40% since the 25th. So not only are they up in profits, they are only refunding 55% of your initial value, which means they keep like 65% of the value per today's prices AND limit your withdrawals.

F'ing bullsht.

That's not what they said. Don't spread false information.

[cryptomole]

Yea, many have crazy fees or just dont service the UK market.

My first though was Gdax as they have some real good price swings, but learned they do not offer none US ability to trade USD pairs.

Yes mate I know
Had a Coinbase account for a while and noticed the same!
GDAX was my first thought but really I hate coinbase! They seem to always delay transactions at super convenient (for them) times.

I was thinking of looking at CFD trading because of the tax benefits.

[OMlite]

And the latest update via twitter ...

Update5! Important! 08/09/2017

exactly as predicted
they are socializing losses, using coin balances from other users to compensate FIAT losses.
plus registration under a different company.
There are a couple of things that I do not understand:

2.4.2. If you have on the balance the amount in koin, then you will be written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD). At the exchange rate on the day of conversion.
2.4.3. If you have a balance in BTE, then you will be credited with 45% in coins (the sum will be divided into 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH) and write off the amount of 45% in BTE.
2.4.4. Upon all recalculations, all users will have the opportunity to withdraw 55% of their funds from the system.

So, if I have 100 coins.
I receive 45 coins, right away.
Then, they convert other 45 coins in USD and USD in BTE... at the day of conversion?
At the end of august? at the moment of the takedown? considering market oscillations... it can really make the difference.
Also. 45+45... 10 coins are missing? O_o

FIAT directly into BTE.

Now, with all these BTE... 45% will be in coins /spread among different types/
and 45% still BTE.
Again... 10% (upon previously 45%) missing.
Finally, of this total mess, I will be able to withdraw 55% right away.

And in this whole percentage mess... Total loss: 14,5% of the original balance.

Am I missing something?

(obviously, better than nothing... but it not clear to me the 14,5% loss... they could also refund that in BTE)

[miner16]

Re-Reading mite be 55% given back to users and 45% is tokens?

[stingray454]

Re-Reading mite be 55% given back to users and 45% is tokens.

so maybe 5% missing for the admin fee to get everything back online etc?

For me, sold btc just before takedown at around 2300 and was in fiat, now btc value is about 3300 = 30% less coins if I buy back at once. While I technically haven't lost any money, it still sucks.

[YesLOST]

Re-Reading mite be 55% given back to users and 45% is tokens?

Yes, this might be the easiest answer. Nobody understands exactly what btce is writing, not even Russians.

Good to know, you get approx. 50% of your funds, regardless if fiat or coins. But, you will get the refund in many different altcoins. And probably only if you follow their KYC guidlines, which could be anything, even DNA samples.

Also, the "investment company" with the BTCE tokens is not guaranteed at this stage. Could be, that there is no investment company at all and we just get that 50% offer.

[kekadam]

And the latest update via twitter ...

Update5! Important! 08/09/2017

exactly as predicted
they are socializing losses, using coin balances from other users to compensate FIAT losses.
plus registration under a different company.
There are a couple of things that I do not understand:

2.4.2. If you have on the balance the amount in koin, then you will be written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD). At the exchange rate on the day of conversion.
2.4.3. If you have a balance in BTE, then you will be credited with 45% in coins (the sum will be divided into 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH) and write off the amount of 45% in BTE.
2.4.4. Upon all recalculations, all users will have the opportunity to withdraw 55% of their funds from the system.

So, if I have 100 coins.
I receive 45 coins, right away.
Then, they convert other 45 coins in USD and USD in BTE... at the day of conversion?
At the end of august? at the moment of the takedown? considering market oscillations... it can really make the difference.
Also. 45+45... 10 coins are missing? O_o

FIAT directly into BTE.

Now, with all these BTE... 45% will be in coins /spread among different types/
and 45% still BTE.
Again... 10% (upon previously 45%) missing.
Finally, of this total mess, I will be able to withdraw 55% right away.

And in this whole percentage mess... Total loss: 14,5% of the original balance.

Am I missing something?

(obviously, better than nothing... but it not clear to me the 14,5% loss... they could also refund that in BTE)

exp on 2 stuation.

1 -- account have 3 BTC 2 ETH before seizing.

now it says 3*0.55=  1,65 BTC     2*0,55= 1,1ETH    and (3-1,65)*BTC DAILY EXCHANGE RATE USD= BTE coin (2-1,1)*ETH DAILY EXCHANGE RATE USD=BTE coin



you can withdraw cryptos but NOT BTE.


2--- account have 3000 usd fiat before seizing.

it will see 3000*0,55= 1650 BTE right away ( 1USD = 1 BTE ). 3000-1650= 1350 USD will be divided 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH  from DAILY EXCHANGE RATE USD.


you can withdraw cryptos but NOT BTE.


---------------------------------

fiat users can withdraw %45 of their funds with 7 different coins. crypto holders withdraw of %55 of their deposits with what they got. about bte i cant understand what will happen.

Thats all..

[miner16]

I see, we gotta put that down to bad luck now i think, we just gotta move forward now and will get some gains bak in the future.

Seems they are handling this the best way they can, and going from past events its proven to work and get an exchange back on their feet. I fully appreciate the effort they are going to, as there have been so many in the crypto space either give up and give back some, or run and give back nothing, this will be a breath of fresh air.

look to the future guys, it can always be worse

[YesLOST]

No, you forget the BTCE token is only a possibility if the "investment company" takes over. And if you had coins, you won't get 55% of your coins, because the coin pumps are taken to socialize the fiat losses!

So, basically what we get is:

Coin: 1 btc = valued at take down $2546 = 55% of that = $1400 directly available for withdraw as 7 different altcoins.

Fiat: $1000 = 55% of that = $550  directly available for withdraw as 7 different altcoins.

[Sukovsky]

I don't think the owners will go poor on this deal. "Clean sheet" and fat profits probably.

[stingray454]

look to the future guys, it can always be worse

Agreed, I was prepared for a full loss (100k+), which would suck a lot worse than missing out on the btc pump and getting some weird altcoins that I don't really want. Also, as people will be compensated in altcoins, I'm guessing the altcoin value on the new exchange will come crashing down as everyone will try to dump them asap. There's probably a decent chance to make a profit buying cheap coins and waiting a bit until after everyone cashed out.

I still have a strong belief in BTC / crypto and I'm confident we'll all make a nice profit in the end. I'd bet a lot that in a few years you can buy a nice house for something like 5 BTC . Even with the losses counted in, I still made a lot more from cashing out some stock and buying BTC than I would have made keeping my stocks. Assuming they really DO get up and running again of course.

[Error 522]

No, you forget the BTCE token is only a possibility if the "investment company" takes over. And if you had coins, you won't get 55% of your coins, because the coin pumps are taken to socialize the fiat losses!

So, basically what we get is:

Coin: 1 btc = valued at take down $2546 = 55% of that = $1400 directly available for withdraw as 7 different altcoins.

Fiat: $1000 = 55% of that = $550  directly available for withdraw as 7 different altcoins.

Lets say I had 2000 ppc and 10 eth

will the 55 percent just be eth and ppc, or a broader mix of other coins too?

[OMlite]

Guys, you are taking it wrong I guess.

it was possible to gain control over 55% of funds (depends on the course)

But the conversion only apply to 45% of the user's balance

2.4.2. If you have on the balance the amount in koin, then you will be written off 45% of the balance of coins and credited with 45% of BTE   (1 BTE is 1 USD). At the exchange rate on the day of conversion.
2.4.3. If you have a balance in BTE, then you will be credited with 45% in coins (the sum will be divided into 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH) and write off the amount of 45% in BTE.

Coin: 1 btc = valued at take down $2546 = 55% of that = $1400

Nope. I think it will be:
1 BTC. --- 0.45 btc + 0.45BTc BTE conversion. And then 45% BTE in multiple coins... and the 55% total withdraw.

exp on 2 stuation.
1 -- account have 3 BTC 2 ETH before seizing.
now it says 3*0.55=  1,65 BTC     2*0,55= 1,1ETH    and (3-1,65)*BTC DAILY EXCHANGE RATE USD= BTE coin (2-1,1)*ETH DAILY EXCHANGE RATE USD=BTE coin

I do not understand why do you use K=0.55 in your expression.
It should be 0.45, no?

[YesLOST]

I have a good feeling that the btce token is going to happen because if btce is talking about a 3rd party or a partner "investment company" they normally mean themselves putting up a clone website  

[stingray454]

One thing that sucks is that there is no mention of the Bitcoin Cash split. I'm guessing they are just keeping all the BCC coins for themselves.

[YesLOST]

One thing that sucks is that there is no mention of the Bitcoin Cash split. I'm guessing they are just keeping all the BCC coins for themselves.

Or they just included it in their calculations which is much more likely.

[kekadam]

exp on 2 stuation.
1 -- account have 3 BTC 2 ETH before seizing.
now it says 3*0.55=  1,65 BTC     2*0,55= 1,1ETH    and (3-1,65)*BTC DAILY EXCHANGE RATE USD= BTE coin (2-1,1)*ETH DAILY EXCHANGE RATE USD=BTE coin

I do not understand why do you use K=0.55 in your expression.
It should be 0.45, no?

2.4.2. If you have on the balance the amount in koin, then you will be written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD). At the exchange rate on the day of conversion.


you r right i think.. missunderstood, K must be 0.45 there. now it changed :

1 -- account have 3 BTC 2 ETH before seizing.

now it says 3*0.45 =  1,35 BTC     2*0,45= 0,9 ETH    and  [3*BTC DAILY EXCHANGE RATE USD+ 2*ETH DAILY EXCHANGE RATE USD]*0,45= BTE ( 1 usd 0 1 BTE )



you can withdraw cryptos but NOT BTE.

in this case how they can refund of %55 balance i dont know.


2--- account have 3000 usd fiat before seizing.

it will see 3000*0,45= 1350 BTE right away ( 1USD = 1 BTE ). and additional 3000*0,45= 1350 USD will be divided 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH  from DAILY EXCHANGE RATE USD.


you can withdraw cryptos but NOT BTE.

[ToxicDartFrog]

So say I had 1000 NMC. What does this mean? I get 450 back? And some other kind of tokens as well??? As far as I'm aware the NMC wallets weren't touched... Pretty silly to socialize EVERYTHING when the markets are a gamble to begin with. I could understand socializing specific markets' payouts but only depending on what was left of those funds.