The 94% Con by Jon Montroll

[Pompobit]

I started a new thread to keep track about all infos about this issue and Ukyo's announcements: https://bitcointalk.org/index.php?topic=342122.0

Feel free to suggest me any detail I forgot to report

[1714153471]

1714153471

[moribana]

Multisig done correctly means that two keys are required to move funds out of an address. That means the on-line wallet cannot access your funds without your permission. It takes some extra work to implement but a few developers are now doing that, and I know of multiple exchanges now working on this. It's going to be standard next year.

Multisig will also help protect your own wallets in future, e.g. by having a 3rd party confirmation service with custom security restrictions or having the second key on e.g. your phone. This reduces the security issues with Bitcoin wallets whereby it's really not easy for most people to secure their money (certainly non technical, but even technical). Not completely, but it will make is much easier.

Just a couple of more questions. If an exchange implements multisig what do I have to do differently when I deposit btc there?

If I understand it correctly, the exchange cannot access my deposited bitcoins without me signing with my private key. So this means that whatever I deposit will sit in their wallet unless I agree that they can send it somewhere. What I do not understand is that if I use my deposited funds to buy securities then some of my funds will have to be transferred into somebody else's address also administered by the exchange. So in effect I have to sign each transaction with my private key to enable this to go through. But how can I be sure that my funds are indeed transferred to the right person's address?

If you could provide a link with a detailed description that would also help.

[ffssixtynine]

Just a couple of more questions. If an exchange implements multisig what do I have to do differently when I deposit btc there?

Nothing different to send money there. It just means they can't -spend- it without you signing from your own key, which could work like blockchain.info or through other software. At present, you send your money somewhere and they have complete control of it. You don't know if they've spent it. You can't see it on the blockchain.

Actual implementations are on-going as it's a little tricky.

[hammurabi]

So what are your theories?
Ukyo fixing "wallet overload" problem which happened not when site was experiencing it's peak traffic, but after winding down?!

I don't really believe in "manual withdrawals".
Rather that people who send coins lately funded those so called manual processed withdrawals.
I did that unfortunately and from what I can read there were others.

For me the most reasonable guess is that there was a data corruption and some of the coin exists only on /dev/null device.
Hope I am wrong with that. But a month delay doesn't sound like tweaking to me.

[sauteedcat]

Please add my missing BTC to the list too. Thanks.

Username     WeExchange ID                                      Amount          Time Stamp
sauteedcat    0Yr6hs6FBCmWQh1xACeln5cpiymciB2T       1.95               2013-11-04 16:48:52
sauteedcat    Zk36226uOJkOCKHdEJ7ZMJ6SPFBJ7SrO      0.1026061       2013-11-21 00:11:48

[Kouye]

So what are your theories?

One of mine include TF and Ukyo, currently sharing both the "stolen" 4.1k BTC, and all the remaning assets on both sides.

[SebastianJu]

So another day without a response from ukyo...

Someone knows if ukyo has other wealth somewhere? At least if he has other wealth we could know somewhat that he would be able to pay back. Im not sure but i believe ukyo was a board member of Asicminer which means he has >=5000 Asicminer shares. They are worth 0.4BTC now. Something like that. So he should at least own 2000BTC privately. Of course only if he (still) owns these share.

Any other hint?

I've spoken to UKYO several times and he was trying to sort a system to show withdrawals to a third party.

So you claim that he still is doint manual withdraws? It doesnt look to me like it. Some days ago occassionally someone wrote he got his bitcoins back. That stopped since 4 days now. So i wonder if bitcoind stopped working even with manually doing requests.

[bougelahi]

add me to the list.


Date   2013-11-05 11:57:02
Transaction ID   LcjWIU5sSKBKO5lg5mv05gg4sZNKPMY4
Type   Withdraw
Debit   0.15358660 BTC
Credit   
Fee   0.00000000 BTC
BTC Transaction   
Status   Processing

[SebastianJu]

I forgot... ukyo being a board member of Asicminer isnt a relieve since he sold this shares practically as Passthrough Shares... he still have the shares but got the bitcoins for them from other users and is paying out the divs instead. He still has to own the shares since it would be noticed if the div-address was changed.
But this way his board seat is no indicator that he has enough money.

[ivroer]

Also waiting, patience wearing thin like many others I see here. Hopefully our patience is rewarded with free flowing withdrawals.

Code:

Date	2013-11-05 14:51:02
Transaction ID	UYFIS6EzZSpJ3ITCOXvRm9bTqd418DWz
Type	Withdraw
Debit	1.24847835 BTC
Credit	
Fee	0.00000000 BTC
BTC Transaction	
Status	Processing

Ticket ID	Subject	Status	Action
ILB-233302	BTC Withdrawal Stuck	Open [2013-11-05 16:09:58]

Ticket has no response, despite multiple attempts to get a reply.

I still don't understand why there isn't a big notice on the WeExchange explaining that there is a problem. Surely this should have been done weeks ago? I've also got another 2.5 BTC in balance behind that, waiting to reclaim.

[blackswan]

Code:

Date 	2013-11-04 21:43:46
Transaction ID 	20oRAGQ8pR0ZBTYTCeqT6HQYTzA0egvC
Type 	Withdraw
Debit 	9.07473721 BTC
Credit 	
Fee 	0.00000000 BTC
BTC Transaction 	
Status 	Processing

Posting my stuck withdrawal in here as well.

[heliboy]

Date   2013-11-13 12:16:26
Transaction ID   XTJ7pPOWFcHQcNugaE70eAe3k6NSR93W
Type   Withdraw
Debit   3.96339360 BTC
Credit   
Fee   0.00000000 BTC
BTC Transaction   
Status   Processing

Ticket ID: TZZ-645850

[Spincycle]

Ticket ID: QMV-218365
Date   2013-11-09 21:20:17
Transaction ID   1u2i8RVMNWoT2m9LRzhBfOmsNxQkp4Zh
Type   Withdraw
Debit   9.45888272 BTC
Credit   
Fee   0.00000000 BTC
BTC Transaction   
Status   Processing

AND

Ticket ID: IJJ-846480   
Date   2013-11-05 13:56:03
Transaction ID   N1uuEQIRIfYWJ23gC5rEwvxjI54C7hUj
Type   Withdraw
Debit   8.45000000 BTC
Credit   
Fee   0.00000000 BTC
BTC Transaction   
Status   Processing

[SOSLOVE868]

I forgot... ukyo being a board member of Asicminer isnt a relieve since he sold this shares practically as Passthrough Shares... he still have the shares but got the bitcoins for them from other users and is paying out the divs instead. He still has to own the shares since it would be noticed if the div-address was changed.
But this way his board seat is no indicator that he has enough money.

He sold AM shares to Rockiex (another board member in AM) and Rockiex paid him about 250 BTC for that transaction in last month, but I do not know what exactly  how many shares of AM had been sold for that 250 BTC, however I remember that after this transaction someone was successfully redeem his loan for 40 BTC with UKYO... I do not know wether UKYO is sold other's pass-through or his own shares, because I was seen someone post that the PASS THROUGH in BF is not same as it according to Friedcat in forum or the Chinese Group chat. (I can't remember exactly ,it been a while).

I am really worry about our wealth , seems all things shows that less likely he does continually processing manual  withdraws , and there are nobody post over forum says get back his/her BTC out from WeEx.

Also if Great is the director of WeEx and BF, he must knows somethings. I really hope anyone in this forum get contact with Great as him to explains what happen with WeEx.. We can't let this situation continuing ,the more time take ,the more risk and more less likely we will get our Coins back as well as the coins lent to UKYO and Great.

[Kouye]

Does anyone, apart from Ukyo and TF, have a clear understanding about Ukyo's loan's state on CL?

[ninjaboon]

I withdrew my BTC on 18 NOV 2013.
Still in processing mode, this is ridiculous.

Date    2013-11-17 16:12:00
Transaction ID    Dnb5QQvKN1tWbR7kULACDrdK89heQn6K
Type    Withdraw
Debit    2.06771160 BTC
Credit    
Fee    0.00000000 BTC
BTC Transaction    
Status    Processing

yes, my patience is wearing thin.

[ffssixtynine]

I did catch him earlier. I told him he really needs to post -something-, put it that way.

For now we should sit tight. We're all in this boat and going off on one isn't going to fix anything. He knows how frustrated people are, and I can tell that the guy is super stressed (as he should be).

I do know he has plans for WeExchange as he's said here, and he can't proceed with anything until this issue is resolved. There is no reason to think he's run off with the money since he's not anonymous and has everything to lose if this goes bad. I also know he's been seeking help from other devs in the Bitcoin world, which I think he's posted about previously.

This contrasts with the TradeFortress situation. Please don't confuse the two.

He's definitely trying to resolve things, but obviously I'm not exactly happy as I'm owed one of the larger sums. Even so, I do think we should give this another week or two to get sorted.

The lack of anonymity is crucial here, ukyo is not going anywhere. The important thing is resolving the situation rather than making it worse.

I have over 75 BTC waiting, which is most of my liquid funds, and I know others who have more at stake who've agreed to give this a bit more time, so I hope some of you can too.

I'm travelling now but I'll have another catch up early next week (Monday or Tuesday).

[SOSLOVE868]

I did catch him earlier. I told him he really needs to post -something-, put it that way.

For now we should sit tight. We're all in this boat and going off on one isn't going to fix anything. He knows how frustrated people are, and I can tell that the guy is super stressed (as he should be).

I do know he has plans for WeExchange as he's said here, and he can't proceed with anything until this issue is resolved. There is no reason to think he's run off with the money since he's not anonymous and has everything to lose if this goes bad. I also know he's been seeking help from other devs in the Bitcoin world, which I think he's posted about previously.

This contrasts with the TradeFortress situation. Please don't confuse the two.

He's definitely trying to resolve things, but obviously I'm not exactly happy as I'm owed one of the larger sums. Even so, I do think we should give this another week or two to get sorted.

The lack of anonymity is crucial here, ukyo is not going anywhere. The important thing is resolving the situation rather than making it worse.

I have over 75 BTC waiting, which is most of my funds, and I know others who have more at stake who've agreed to give this a bit more time, so I hope some of you can too.

I'm travelling now but I'll have another catch up early next week (Monday or Tuesday).

is that catch him earlier means that  you have a face to face conversation with him? please share more information with US.

[ffssixtynine]

Skype voice.

Note I'm off on my travels now - will come back for more excitement soon. Heh.

[SOSLOVE868]

Skype voice.

Note I'm off on my travels now - will come back for more excitement soon. Heh.

Enjoy your trip...Hopefully that He can sort out this problem asap ...~!