Rumored yobit founder arrested

[Ivor Biggun]

Is this the end of yobit, or will it continue running (like btc-e)?

Moscow police arrested the rumored founder of yobit, but the exchange is still online. There's no conclusive proof yet, only rumors.

https://bitnewstoday.com/news/exchange/businessman-connected-with-yobit-arrested-in-moscow/

The alleged leader of the cryptocurrency exchange called Yobit or at least someone who had a big share in it has been arrested in Sheremetyevo Airport, Moscow. He is reportedly accused of establishing fraud financial schemes. His name is Pavel Krymov.

Sadly, there are very few direct proofs of his ownership of this exchange, only amateur investigations made by those who already suffered from the schemes of Mr. Krymov.

http://www.coinfox.info/news/8864-millions-of-nem-stolen-from-coincheck-transferred-to-russia-related-exchange-yobit

Yobit is a cryptocurrency exchange supposedly founded by Pavel Krymov, a Russian entrepreneur born in Ukraine... Although he never confirmed he had been involved in creating the exchange, these rumors were circulating on the net for a while.

[The Sceptical Chymist]

LOL.  I don't know if this is true or not, but it totally would not surprise me if it is.  They've always worked for me, but I've read so many complaints on bitcointalk about how lousy their service is and how they operate in a cloud of shadiness.  Are they actually based in Russia? 

One of the things that always bugged me about them was that their business was completely non-transparent, and they seem to keep it that way on purpose--who owns the exchange, and all the other information you'd expect from a company that handles your money.  So if this is indeed the end, I do hope people can get their funds off of Yobit and that it doesn't end up like a Cryptsy or Mt. Gox.

[Ivor Biggun]

LOL.  I don't know if this is true or not, but it totally would not surprise me if it is.  They've always worked for me, but I've read so many complaints on bitcointalk about how lousy their service is and how they operate in a cloud of shadiness.  Are they actually based in Russia? 

One of the things that always bugged me about them was that their business was completely non-transparent, and they seem to keep it that way on purpose--who owns the exchange, and all the other information you'd expect from a company that handles your money.  So if this is indeed the end, I do hope people can get their funds off of Yobit and that it doesn't end up like a Cryptsy or Mt. Gox.

It's still up and running so it can't be a one man operation, unless it's on auto pilot. BTC-e just denied Vinnik was anything to do with it and carried on running after he got arrested. I'm wondering if yobit will follow in its footsteps.

Whatever happens I hope nobody loses coins held there.

[croato]

Yobit was never an serious exchange in my opinion. Lot of scam ICO-s, bunch of worthless shitcoins and poor support. Most possibly that service will end just like Craptsy and other exchanges doing exit scam and blame hackers for that. I would not recommend to anyone sane to use that site. There is lot of better options and places to trade coins.

[magneto]

Is this the end of yobit, or will it continue running (like btc-e)?

Moscow police arrested the rumored founder of yobit, but the exchange is still online. There's no conclusive proof yet, only rumors.

https://bitnewstoday.com/news/exchange/businessman-connected-with-yobit-arrested-in-moscow/

The alleged leader of the cryptocurrency exchange called Yobit or at least someone who had a big share in it has been arrested in Sheremetyevo Airport, Moscow. He is reportedly accused of establishing fraud financial schemes. His name is Pavel Krymov.

Sadly, there are very few direct proofs of his ownership of this exchange, only amateur investigations made by those who already suffered from the schemes of Mr. Krymov.

http://www.coinfox.info/news/8864-millions-of-nem-stolen-from-coincheck-transferred-to-russia-related-exchange-yobit

Yobit is a cryptocurrency exchange supposedly founded by Pavel Krymov, a Russian entrepreneur born in Ukraine... Although he never confirmed he had been involved in creating the exchange, these rumors were circulating on the net for a while.

As The Pharmacist said, no concrete evidence that this person has indeed been involved in founding the yobit (scam) company, but for sure, it would not surprise me in the slightest if he was and had a ton of experience with MLM/ponzi/scams.

Not the first time that Russia has investigated yobit, either: https://cointelegraph.com/news/cryptocurrency-exchange-yobit-investigated-in-russia-on-fraud-claims.

Yobit's having a ton of issues to sort out, complaints of yobit are growing exponentially. Don't trust me? Go to scam accusations and see for yourself, I'd say probably 10-20% of all scam reports are of or relating to yobit. Also review sites that could potentially involve sockpuppets have terrible reviews for yobit.

Whether or not this allegation is actually true, doesn't matter. All we know right now is a known scammer being arrested. We can't confirm the link between him and yobit. But one thing is for sure - if you have BTC on yobit, no matter what, try to get it out and don't look back. You'll be lucky if you can do that at an early stage.

[Hairynipples]

I genuinely hope anyone with funds in Yobit gets them out but it makes my day when karma/and or local law enforcement catches up with scammers.

Hopefully belgium authorities go after the scumbag behind this complete scam exchange:      https://crypto-tradingmarket.com

djeezer12 owns https://crypto-tradingmarket.com

and also owns these accounts here at BCT:



acaua      https://bitcointalk.org/index.php?action=profile;u=1187489
jmScripting https://bitcointalk.org/index.php?action=profile;u=1497572


I'll give the belgium police a headstart:


General Police Center Ghent Antonius Triestlaan 12, 9000 Gent, Belgium +32 9 266 61 11




crypto-tradingmarket.comUpdated 1 second ago
DOMAIN INFORMATION
Domain:crypto-tradingmarket.com
Registrar:NameSilo, LLC
Registration Date:2018-01-21
Expiration Date:2019-01-20
Updated Date:2018-01-21
Status:clientTransferProhibited
Name Servers:ns1.qhoster.net
ns2.qhoster.net
ns3.qhoster.net
ns4.qhoster.net
REGISTRANT CONTACT
Name:Max Rollox
Street:vanbiesbroeckstraat 19
City:gent
State:ov
Postal Code:9000
Country:BE
Phone:+32.0496045878
Email:djeezer12@outlook.com
ADMINISTRATIVE CONTACT
Name:Max Rollox
Street:vanbiesbroeckstraat 19
City:gent
State:ov
Postal Code:9000
Country:BE
Phone:+32.0496045878
Email:djeezer12@outlook.com

[kevoh]

Another one scammer/fraudster bites the dust! Krymov already has a lot of financial pyramid scheme like Questra World and Forex Trend linked to him and perpetrating such acts while hiding in Europe. There is even a website Stopkrymov(in Russian language though) dedicated to combat Pavel Krymov and his fraudulent acts  Good thing the authorities finally arrested him.

[timerland]

Another one scammer/fraudster bites the dust! Krymov already has a lot of financial pyramid scheme like Questra World and Forex Trend linked to him and perpetrating such acts while hiding in Europe. Good thing the authorities finally arrested him.

Apparently he also operated a scam ICO (i think worldcore?) behind the scenes. So he's clearly experienced in scamming people and playing con artist games with people. If he was the founder of yobit even though that is up for speculation but there are some proofs being offered, then the scam here imo would be the yobit investbox. If it turned out to be an exit scam then investbox investors will get robbed, and then withdrawals will get halted.

This isn't good for yobit users.

Regardless of his true intentions/affiliation with yobit, with the support ignoring all tickets essentially and dysfunctional deposit/withdrawal system, it's hard to see why people still use them.

[cpfreeplz]

Huh, I was just saying to someone today that I wonder if their shitstorm of a spam campaign was still going on here and if they were even still in business. I guess now I can tell them the news lol! They won't be in business for very long! Thankfully Bitcointalk has made me very aware of their business and very aware that they don't give a shit at all. They were looking to make some quick and dirty money and I guess they must have. Doesn't matter in a Russian prison though!

[linkybit]

Wow thats bad news for YoBit users. Fortunately, I am not having any funds in it.

[JanpriX]

If this is indeed true, folks who trade to Yobit should right away withdraw their money from it. Even though that the exchange is still online right now, we don't know what will happen in the coming hours and days after the arrest. This information may be false but I'm having an inkling feeling that this is true due tot he behavior of the exchange itself. This exchange is shady as f*ck with their support being non-existent at all. I wouldn't be surprised if it will be closed in the future.

[BTCforJoe]

I first heard about YoBit because that was the first signature campaign that I joined here. I registered for the site, simply because they paid via our YoBit balances. Remember the whole BigUp brigade a few years ago? I actually made out okay on it. It was a shitcoin with no vision, but I bought a couple million of 'em for one sat each, and I made a pretty decent ROI within a few weeks on that shitcoin.

I will say that I never took YoBit serious as an exchange. Why? First of all, dice. Currency exchange and a dice game on the dashboard/portal? Lol.

But, I will also say that I did lose a couple thousand dollars worth of crypto when I lost access to my account. I had 2FA enabled, and lost my phone. I, being a dumbass, was using Google Authenticator, and given that YoBit doesn't (or didn't at the time) show your secret key for 2FA, I lost access to my account. I was easily able to recover my Bittrex, Poloniex and even C-CEX (another shitxchange), but when it came to YoBit, they just completely stopped responding to my request. It has been 14 months now, and they still have not responded to my monthly emails. Fuck YoShit.

If you have holdings in YoBit, get it out. Not just because of this news, but because of how shitty they are. As @magneto said above, there are thousands of posts in Scam Accusations about YoBit. While a lot of them are just fueled by impatience, there are legitimate complaints and scams that have definitely happened. The only reason I never created an accusation myself is because there were so many open accusations against them at the time.

With all that said, I don't believe that Krymov owns YoBit, and I think that it will continue operating without him. Even more reason to gtfo. I hope if anyone from these forums takes anything away from this, it's that YoBit cannot be trusted. Be cautious.

[BingoDog]

I can't say I'm surprised. This would also explain very bad running of business that Yobit had. Still this doesn't have to mean that Yobit will stop existing, some new leader could overtake it or it could be sold.
Nevertheless I quit doing business with Yobit a long time ago because of very poor service they were providing and because of many scam accusations.

[bhadz]

This made me check their website if it's still running and it is. The guy is involved with other fraud schemes and there is one existing scheme on yobit which called the "investbox". 

With all that said, I don't believe that Krymov owns YoBit, and I think that it will continue operating without him. Even more reason to gtfo. I hope if anyone from these forums takes anything away from this, it's that YoBit cannot be trusted. Be cautious.

I don't care whether he is the owner or not but I believe it is compose of a group and a single person that will gone out of share will not stop them from operating.

[~Bitcoin~]

Wow thats bad news for YoBit users. Fortunately, I am not having any funds in it.

Same for me but I used to trade there before.

Luckily I only have few YOVI token there which I might never be able to exchange out if the platform will be shut down after this arrest. But I think this news is just a rumor and he might not have any association with yobit.

[richardsNY]

I will say that I never took YoBit serious as an exchange. Why? First of all, dice. Currency exchange and a dice game on the dashboard/portal? Lol.

Yobit was never meant to be a serious exchange in the first place. It was clear from the very beginning that Yobit aimed at the noobs as being their main user target, and that later got more confirmed by having Yobit add all types of gimmick features to trap in even more noobs. It's nothing more than a money making machine for the operator behind Yobit. If you look at how insanely easy it is to get your shitcoin listed there, and how many coins have been listed throughout the years, I am sure that he made millions of dollars just from that aspect alone. In easy terms, the only winner is the operator behind Yobit, and everyone using Yobit is a loser by default. It's like playing Russian roulette with your crypto funds....

[poplolnman]

I can't say I'm surprised. This would also explain very bad running of business that Yobit had. Still this doesn't have to mean that Yobit will stop existing, some new leader could overtake it or it could be sold.
Nevertheless I quit doing business with Yobit a long time ago because of very poor service they were providing and because of many scam accusations.

People who trading with common sense would avoid yobit once they have experienced to trade there , too much strange coins with overpriced listed there , too much suspicious services run there. I have experienced to wait my withdrawal pending more than 4 weeks, crazy and I leave them right after I received the funds.

[Slow death]

Are they actually based in Russia?  

It seems so:

Registrar Data

Registrant Contact Information:

Name: Protection of Private Person
Organization
Address: PO box 87, REG.RU Protection Service
City: Moscow
Postal Code: 123007
Country: RU
Phone: +7.4955801111
Fax: +7.4955801111

The police should closed this exchange this year.


" Rumored yobit founder arrested "

this is a very interesting title and this rumor is spreading fast

https://www.cryptocompare.com/exchanges/yobit/reviews/BTC

Yobit Exchange

This exchange is reportedly under investigation from the Russian Authorities.

the next days will be very interesting

[Zocadas]

Many thanks for warning. I will try to withdraw the majority of my funds there. As mentioned in many threads and posts here on forum, it is always better not to entrust the whole trading funds to just one exchanger. But although yobit is known for its bad support and suspicious schemes on investbox, I never had bad experiences there.
Update: Withdraw was nearly instant like all my previous withdrawals (mostly doge)

[jossiel]

the next days will be very interesting

It certainly is.

I want to know if those "direct proofs" that was mentioned on that thread if it will be disclosed too. But the best thing to do now for someone that has big funds on their exchange better watch out and ready to withdraw your funds so if something bad happens, you're totally safe.

And the sad reality about them, even this arrest never existed they have the worst support.