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Author Topic: [Weexchange issue] The fall of Ukyo III - Updates and references  (Read 40636 times)
Pompobit
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November 21, 2013, 04:39:14 PM
 #1

Hello all,

I see lophie closed his thread to not disperse information among subforums, but Ukyo responded almost exclusively on the the securities board so I'm starting this new thread hoping in a better comunication from him.
He stated that:
The number of threads is becoming to great for me to post in all of them.

Please reference https://bitcointalk.org/index.php?topic=316546.380

I have started posting proof of transactions.
So, now he could use this as reference.


Please DO NOT POST HERE YOUR PROCESSING WITHDRAWALS, do it in the scam accusation thread, it is already filled with a lot of user's withdrawals infos and lophie is trying to track the amount of coins/usd stucked in weexchange.

Here I'll try to report in chronological order Ukyo's announcements about this mess, relevant infos and updates on successfull withdrawals (althoug up to now are very few).
 Many posts come from locked lophie's thread, so I couldn't simply quote them and copy&paste here, but had to wrap the contents and fix the reference links, so some link could be broken, tell me if you find something wrong (all the date post links from the lophie thread refer to 1 january 1970, I had to convert all dates to unix timestamp, but the correct date is reported in red above each post).

Also suggestions are welcome if you think I missed something useful.


Disclaimer: I have about 10.5XBT currently in processing status on weexchange


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

Summary about last Updates:
- Cryptocyprus (from NEO&BEE) is now dealing with the weexchange issue.
- Ukyo updated the issue on Decmber 17, you can read his post here: https://bitcointalk.org/index.php?topic=348468.msg4006582#msg4006582
- Ukyo is trying to liquidate his ActM shares to refunds a part of his debt
- Only 386 bitcoin are available, so you can withdraw up to 6% of your stucked XBT
- No ETA for when the remaining BTC will be returned and for an explanation about why all this mess started

LAST UPDATE:

Ukyo claimed he wants to liquidate his ActiveMining assets to reimburse a part of his debt with weex users. Actually Ken Slaughter, the CEO of ActiveMining, holds Ukyo's Activemining shares and explained we wants to sell the shares to pays back his personal company's debt with weexchange (106btc),
then give the remaining earnings to Ukyo.. Shares are being sold for 0.0005 XBT each one, so the total earning (if they are sold) would be 100XBT, just enough to pay back the Ken's debt. So nothing will be left for other weexchange users.

Ukyo is currently working for a portal to redeem Ukyo.loans

A site to withdraw a portion of your stucked XBT is up here: https://weexclaims.weexchange.co/main.php
Currently you can withdraw 6% of your XBT, hopefully you will able to withdraw the rest later

The thread started from cryptocyprus is here: https://bitcointalk.org/index.php?topic=348468.0

Last cryptocyprus' post about weexchange issue (upon my and stereotype's request) is here: https://bitcointalk.org/index.php?topic=289730.msg4664866#msg4664866

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

Relevant user's posts (Most recent first):

January 22, 2014, 03:40:41 PM (user's activity: 336)
We are selling Ukyo shares on Crypto-Trade to recover our losses on Bitfunder.

We will start moving Investors shares to Crypto-Trade within the next 7 days.


January 22, 2014, 04:15:24 PM (user's activity: 252)
I haven't touched anything from a technical standpoint, I'm not sure who Andreas A is to be honest. If it is Andreas Antonopolous then I would be surprised as he hasn't mentioned anything to me about helping Ukyo. I am trying in my spare time (of which I have very little of) to give Ukyo a helping hand with achieving a workable solution, to ensure he can pay everyone back and once complete he can pay me back.

January 22, 2014, 03:13:27 PM (user's activity: 252)

Helping Ukyo out is something that I am doing in my spare time for the benefit of everyone involved and getting help from others that work here in their spare time (of which no one has available right now). I have so little time at the minute to do anything other than attend meetings for Neo & Bee and travel to meetings which dominates my life due to the fact we are launching a multitude of businesses across the coming weeks. I am still personally committed to helping resolve this issue by helping Ukyo get everyone settled.


December 13, 2013, 09:58:21 PM (user's activity: 210)
As was announced earlier, most of the coins that were stored in WeExchange.co are now gone. We are still limited in what we can share about how that happened, and what is being done about it, but we do have some updates.

There are still approximately 386btc available in the wallets. These coins will be paid proportionally to all owed users, based on current user balances, by Monday night.

All old withdrawal requests will be removed and each user will need to initiate new withdrawals when this new balance is ready.

Full instructions on how to access the site to process these withdrawals will be provided by 5pm (GMT+2) on Monday 16th December, when you should be able to withdraw the portion of available funds allotted to your account.

This is far from ideal, but it gets every satoshi that is available to those with outstanding balances. When we are able, we will announce more details on what is being done to repay the remaining coins that are owed to WeExchange.co users.


December 07, 2013, 12:52:18 PM (user's activity: 196)
Apologies for the slight delay in getting this information out.

Jon (Ukyo) is now here with me in Cyprus to ensure this problem is resolved for everyone involved.

The bitcoins are simply not there anymore, we are continuing to work through the implementation of a number of solutions to correct the issue. We are hoping to have one of many very important announcements before the Christmas holidays that will enable the bitcoins to be returned to those that are owed, however the run up to the holiday period may cause delays in some aspects.

The solution will take time to pay everyone in full however, there will be no preferential payments and the payments will be distributed proportionally.

A full explanation as to why the bitcoins are no longer there, will be provided as soon as we possibly can.

Neo & Bee has no exposure to the liabilities of WeExchange. The solution will enable Neo & Bee and all of those involved in Bitcoin to benefit greatly in the future.

December 02, 2013, 12:20:18 PM (user's activity: 196)
From the Activemining thread (https://109.201.133.195/index.php?topic=297503.4220;topicseen):

Quote
From Bitfunder shutdown notice:


Quote
Notwithstanding the shut-down, the site will remain available for viewing and users will be able to request records from BitFunder until at least December 15, 2013.


It seems that Bitfunder has shutdown all of ActiveMining accounts.  This was expected due to my "Legal Demand For Payment" and the fact that I release the information about meeting with our lawyers.

This is also why we had a cutoff date on the transfers to AMC-TENDER"; however, I was still accepting transfers, but it was expected that Ukyo "God Of Bitfunder" would use his almighty power to shut off our accounts.  So the last transaction time to AMC-TENDER is 2013-11-30 20:35:59.  Any transfers after that date will be limbo, until we can get the records.  This will also apply to the automatic transfers that Ukyo promised on December 2.  In our law suite we will try and recover the records after the above date using discovery.
 
  
 
The more I read about Bitfunder the more I believe Ukyo is a scumbag scammer and I really hope getting involved with this guy won't damage the image of Neo.

If I held the same views on Ukyo, would I be getting involved? Certainly not! When people have their Bitcoin back because I stepped in to ensure this was fixed, how could that possibly reflect negatively on myself or Neo & Bee?

Its very easy to throw mud based on limited information, there is a valid reason as to why this information cannot be made public, at this moment in time, but that will change. Once it is public knowledge will all these people throwing mud be queuing up to apologize, I highly doubt it.

I have also made it known that anyone pursuing legal action should contact me personally or through their legal representative, if they want to save themselves a lot of time, effort and money.

November 30, 2013, at 08:44:33 PM (user's activity: 280)
...
Bitfunder/WeExchange Problems:

We have ~106 BTC in the Bitfunder/WeExchange system which we can not obtain.  We have sent Bitfunder's/WeExchange's Ukyo a Legal Demand For Payment within 72 hours.  We expect this problem to result in the loss of the 106 BTC.  We are meeting with our Lawyers to determine what our next steps will be.  This 106 BTC has been deducted from our liquid cash position above.
...

November 27, 2013, at 11:40:11 AM (user's activity: 196)

November 27, 2013, at 08:17:30 AM (user's activity: 196)
Hello everyone,

I know everyone here is waiting for "the big announcement".

I have been brought in by Jon (Ukyo) to help with the situation. For those who do not know me, I am Danny Brewster of Neo & Bee (https://bitcointalk.org/index.php?topic=289730.0;topicseen) Neo & Bee has agreed to take an active role in ensuring this situation gets resolved.

I have a full understanding of the situation and have agreed to work with Jon to help sort out the problem in the best and quickest manner possible. At this point in time it is no longer possible to be immediately able to pay out all users. Jon has been working to ensure that a process is in place to remedy this situation and to ensure that all users get the bitcoins owed to them. This is the unfortunate reality of the situation. The biggest question is going to be “why or how has this happened?” I will be providing the answer in full, however right now it is impossible for what I would describe as legal reasons, but the answers are coming, that I promise, but cannot give an exact time as to when this information can be made public.

To this end, we would like to ask that everyone continues to be patient while the final preparations are put in place that will allow for users to enable recovery of their funds, the holidays in the United States are not helping with this specific matter in the slightest.

Everyone at Neo & Bee are now involved in this resolution process.

Unlike other situations where an inability to payout bitcoins to users has occurred, Jon has been fully committed to ensuring that payouts will happen. He has not gone into hiding and continues to try to make himself available to people on IRC on a fairly consistent basis. You have trusted Jon with your bitcoins and as of right now, you are being told that there is no immediate solution. At this point, Jon has two options: first he can continue to work with the community to ensure that the issue is resolved properly, or he can throw his hands up and simply say "sorry, there’s nothing I can do". I prefer option one as I think many of you will as well, so that is why I am throwing myself and my team behind this effort to ensure solutions are implemented and successful.

I know both myself and Jon would like to be able to post everything out in the open to give a full explanation about everything that has brought everyone into this position and what is currently going on to resolve this issue. I understand that this is not the optimal solution for any one person, however we believe that it is the best solution for everyone.

You can have my word that everything conceivably possible, to resolve these problems are being done to the best of our abilities.

I would like to thank you for your understanding and cooperation so far and we look forward to having this situation resolved as soon as possible.

November 25 at 02:16:25 PM] (user's activity: 175)
In an IRC conversation between me and Graet, playing proxy between myself and Ukyo, I was told that Ukyo would make a statement to either myself personally or to the public today. Based on the nature of that conversation I fully expect Ukyo to follow through and provide a statement of some form. Sadly, I have no insight into what said statement may include.

KrimsonKla

November 22, 2013, at 08:38:22 PM (user's activity: 175)
"There is some light in the tunnel"

<Ukto> he
<Ukto> he
<Ukto> ... "heh"
<nsa_> hehe?
<Syloq> Ukto, hide, quick.
<nsa_> the "mob" is going to start a witchhunt soon.. what is the status?
<Ukto> i have brought in some other people to help with the situation
<Ukto> and work towards the fastest resolution.
<blastbob> Sounds good Smiley
<nsa_> what is the actual problem with bitcoind?
<Ukto> I am hoping to post some sort of update tonight if possible, but probably a real update Monday/Tuesday when everything can be put together at once
<Ukto> the world.
<Ukto> it was decided to stop handing out small bits of information causing misinformation
<Ukto> until we can give a full an accurate explanation
<the20year1> yay
<Ukto> so please work with me on this for the moment.
<Ukto> I am not dissapearing, and have no intentions to
<Ukto> I have just been very very busy lately trying to work on everything being pushed on me
<Ukto> but, i have to get back to the current crap
<Ukto> i'll be back around a bit later
<the20year1> joy
<Ukto> wish i had better news
<Ukto> but there is some light in the tunnel
<Ukto> afk

November 22, 2013, 12:54:18 PM (user's activity: 210)
I did catch him earlier(by skype voice). 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).


November 21, 2013, 10:49:57 AM (user's activity: 5)
Yeah. I have the same. Processing, Processing, Processing....

BUT:  There was one Transaction with a very small amount 2 weeks or something Processing und 3-4 days ago: Completed!

So, at least there is hope...

My Opinion: After Bitfunder closed, - WeExchange had a lot of trouble with beeing the only one Partner for Instant Exchange to BF.




November 20, 2013, 09:25:37 PM (user's activity: 5)
I did have a withdraw completed in November.

I don't know if this helps or not, if I understand correctly there are still October withdraws that are not yet done and this was from early November.

Date   2013-11-03 15:55:49
Transaction ID   Ug3rfwbCV0dBAxeQHVKclVMyTglDjPs6
Type   Withdraw
Debit   7.03271000 BTC
Credit  
Fee   0.00000000 BTC
BTC Transaction   0d0dc03db421619ebcfa85292c0478a8fcd5fc65424b2af786730ef30542fb6b
Status   Completed

I have a few more withdraws that are still processing.

I know everyone here is stressed out, I can say with confidence that Ukyo is under great stress as well, regardless of his machinations.

EDIT: There was no help ticket associated with this withdraw, it just worked. I did not learn there was a withdraw problem until the next day.



November 19, 2013, 08:11:11 PM (user's activity: 238)
Quote
(19:09:16) Ukto: for the record, I _am_ here. i have not dissapeared.
(19:09:23) Ukto: I am working on doing everything in my power to get everything to everyone
(19:09:26) Ukto: I am not going to dissapear
(19:09:35) Ukto: if I was going to, I would have already.
(19:09:49) Ukto: I want to get the new weexchange online. It has huge oppertunity
(19:09:53) Ukto: but i have to sort this problem first
(19:09:57) Ukto: and my time is highly limited
(19:10:30) Ukto: as soon as I have a real update for the forums I will post one.
(19:10:47) Ukto: I just have no real update at themoment except that I am here, and I am trying to make it work
Fresh from #bitfunder



November 19, 2013, 11:57:18 AM (user's activity: 150)
I have withdrawal request from October 23rd and support ticket from the same day.
I was waiting one month and checking my BTC address balance every day.
Today I found my withdrawal canceled and this message as a response to the support ticket:
Hello,

We are having issues with bitcoind and getting it to send large amounts without taking long periods of time.
I have canceled these two withdraws, could you please resubmit them in about 20 btc amounts so we have a proper withdraw request for each transaction? Please update this ticket so I can make sure you hold your place in withdraws.

Thank You,
WeExchange Customer Service
Well, I believe I made it clear that I want withdraw the BTC.
If it was a problem to process a larger sum they could have divided it into smaller ones.
Now I have re-created withdrawals as limited to 20BTC ... and expect to have it processed in place of original withdrawal ...
Otherwise it's time to bring lawyers in.

I was convinced that Ukyo is brave and honest guy ... today I start to have doubts



November 16, 2013, 10:08:56 PM (user's activity: 10)
It was a very stressful few weeks, but I finally received my Bitcoins  Smiley. Thank you Ukyo.
Good luck and see you all later.

-carnivale


November 16, 2013, 09:54:42 PM (user's activity: 210)
Quote from: kleeck link=topic=316546.msg3604813#msg3604813
WeExchange Transaction Confirmation:

I was contacted today, 11/16/2013, at 14:19:27 by Ukyo to confirm the transaction of 19.11521709 BTC from WeExchange to address 1H9TFQM8qxzT2Wwdq5TVGDQ1UhxhXJXs7q.

https://blockchain.info/address/1H9TFQM8qxzT2Wwdq5TVGDQ1UhxhXJXs7q

The transaction completed successfully as can be seen at the Blockchain address.

Thank you.


November 16, 2013, 04:47:41 PM (user's activity: 19)
Ukyo asked me to watch https://blockchain.info/address/16zHkphBn9FjfNNrHLZJcCwQTnfSCMors1 for "about 8.6btc" around 6.20 PST.

At some point after the transaction, I saw the address getting funded.

I have no idea what is going on here. Nor do I want to.


November 16, 2013, 01:50:41 PM (user's activity: 34)
Ukto asked me to witness a payment of BTC26.42 to this address  https://blockchain.info/address/1PyxKKtughgJKZkAv15MW8YgZdiYLviLQu

I don't have any stuck withdrawals and all my transactions from Bitfunder and WeeX worked fine

November 16, 2013, 11:13:36 AM (user's activity: 106)
yes, a friend  of mine have been get through withdraw (1/11) 

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

Relevant Ukyo's posts about weexchange issue (most recent first):

Jauary, 24, 2013, 05:25:35 AM
Repeated cross-post from: https://bitcointalk.org/index.php?topic=297503.msg4699685#msg4699685

Ken Slaughter thinks his personal debt is more important than all other Weex users and is using his book education in Indian law to personally keep 100+ BTC worth of shares that I have been trying to sell to distribute to WeEx debtors.

He has gone as far as laugh it off with "good luck gong to belize to sue us"


I will explain it to you, a corporation has a lien on its shares for any sums owed by a shareholder, so we have a lien on your shares.  You are the owner of Bitfunder and the funds where on Bitfunder.  Because they where transferred to WeEx in a contract that you had with them does not relieve you of your obligation to pay us our funds.  Also, 38 BTC was left on Bitfunder and I have screenshots of it being there.  I did not authorize it to be transferred to WeEx.

Also from PM:
Just to give you a fair warning, there are a lot of laws in the us about disclosing customer information.

Good luck going to Belize to sue us.

I will explain it to you, a corporation has a lien on its shares for any sums owed by a shareholder, so we have a lien on your shares.  You are the owner of Bitfunder and the funds where on Bitfunder.  Because they where transferred to WeEx in a contract that you had with them does not relieve you of your obligation to pay us our funds.  Also, 38 BTC was left on Bitfunder and I have screenshots of it being there.  I did not authorize it to be transferred to WeEx.

The shares have a lien on them.  You are hereby notified that if the ~100 BTC is not paid in the next 10 days, we will sell your shares to the public to satisfy your debt to the company.  Should the shares not satisfy your debt to the company you will still be liable for the remaining debt.  Any amouts over the debt will be disperse to you less any cost of the sale.

I appreciate your 'good luck to sue us'. That's a real show of character.
I suggest all shareholders take heed of this warning.
What is wrong with posting your history? Are you afraid of something? You seem pretty concerned if your willing to make threats over it.

Notice was given 45 days before the transfer from BitFunder to WeExchange.
The site was shutting down and it was known to you that the only method of bitcoin transfer is via WeExchange which you accepted and used.

You should have no funds left on BitFunder. Any account that was properly linked (Which would be the ActM official account) had its full balance transferred. I think everyone is well aware that only a few people who had linking issues with weex have a small stuck balance.

How is it you have an account with 38btc that is not ActM that you are linking into this?
How many more accounts exactly did you create for trading on BitFunder than the handful I know of?
I suppose I will have to do a more in depth search on all of you ip addresses, linked accounts and addresses.
Why have you not claimed or reported this stuck 38btc prior?
You have not mentioned the 6% claimed from the portal yet either and subtracted that.

In the end, your argument is that I owe you XXX btc personally.
If your argument holds up then that means you are not the only debtor.
If this was the case, as someone mentioned prior, any funds of mine would need to be proportionally distributed.
This is not a mechanics lien.  You did not do work or provide services. You do not have first right to the funds.
Also I see you are not including "legal costs" of unspecified amounts into what you plan to take from any proceeds.
It sounds like no matter what, your intention it to keep 100% for your personal issues.

And just because you are CEO of a company does not mean you can abuse that authority on behalf of your own personal
problems and desires.

So to be clear, you are using your position as CEO of a company to force a sale of a shareholders shares to ensure your personal BTC losses are covered before other debtors can claim their portion when you have absolutely no evidence to show that the shareholder has directly owes you anything.

You do understand the difference between a corporation and an individual?
I hope you have this same understanding with accounting practices and funds.

WeExchange has a debt to many individuals and not just you.

Again, why the sudden rush and need to sell the shares? Why can't they just be locked worst case scenario?
You seem desperate. Why? I figure it will take you at least 2~3 more months to finish buying back ActM shares.
Why the need for threats? What is it you are so afraid of?

I bet people would love to see the complete shareholder listing as it stands. Would probably be more interesting
if ownership names could be included / proven.

Also, for a lien you must file something, somewhere with a valid reason and provide notification to the person you are filing against.
Normally, unless it is a mechanics lien, you file a lien against a person or entity.

I think you need to talk to your Belize lawyers and not whatever lawyer gave you a book quote rather than an official statutory listing.
(Personally, I would fire that lawyer and hire a new one.)

I found your link very interesting though. How about linking some documentation regarding Belize Corporate law instead?
Unless this is a confession that you are operating as a Indian entity and these are shares of an Indian entity?
You do realize that book is about Corporate laws in India... right? Your lawyer must be short on time and not taken notice.
Next time you are gasping at straws, you should check the first few chapters for relevance and stop trying to mislead people.

(For those of you who are curious, start with page 2. Definition of a company regarding the Companies Act of 1956. (India) and
the following line of "a company formed and registered under previous Company Laws in India."
I am going to go out of my way to say that you have had absolutely zero legal advice and are acting solely based on random google searches
and relying on "Well let him try something." rather than doing things properly.
I truly hope for those who have invested into ActM that you run your business better than this.

Please stop being inconsistent and show people if you actually have an understanding of the things you are talking about.
It's almost like you are purposefully misleading people.

(For anyone curious, feel free to call a US corporate lawyer for a free consultation and ask about shareholder rights and liens.)
Then again, that's US law, not Brazilian.

I response to your unofficial "notice of lien" hereby request that you post the contact information for your corporate Belize lawyers or PM it to me so I can contact them to make arrangements so this can be handled properly and officially. I will make sure that any documents are released to the public so they are fully aware of the situation.

Please keep in mind that your professional manner in handling this situation dictates how you will and ActM will be viewed going forward.
As a ActM shareholder and I am sure many others agree, if ActM is to succeed, it must act properly and not arbitrarily or expose the
company to unnecessary risks.

Stop acting so desperate and do things right.

Thank You,
Ukyo


December 27, 2013, 04:59:32 PM
I think there has been enough speculation now.
The short of it, is that the funds are not available for distribution.
This is fact. Reasoning behind it won't change this.
We are doing what we can to make funds available to users.
The holidays have greatly disrupted any if not all potential business activity for the past few weeks.
Right now my biggest goal is to get AM claim system up while keeping everything else moving as best as things allow in the mean time.

I will post an update as soon as the AM claim portal is ready.

Thank you for your continued patience.

-Ukyo

November 16, 2013, 11:52:13 AM
Hello Everyone,

I would like to say thank you to everyone for being patient and understanding during these difficult times.

All BTC stuck on WeExchange.co has been migrated to a new claim portal. You will notice your BTC balance
on the main weexchange site zero out. Withdraws via the portal will list in your weexchange.co history.
As funds become available they will be dispursed proportionally on this portal for immediate withdraw.
The first round has been dispersed and is ready. Please keep in mind that the amount and percentage
of bitcoins being released is effected by many variables as we tried to make as much available as possible.

Login details are the same as the weexchange.co site.

Below is a link to a weexchange.co claim portal.
https://weexclaims.weexchange.co/

Now, many of you are still quite concerned over the situation, which given the little information released
is sadly expected. I will address what concerns I can for now.

First off, Danny:
Danny has been extremely helpful and supportive of getting things moving forward. Danny has "not" been paid
off or made any offer of early compensation for his help. In fact he made the opposite offer to take his last
after everyone else. He is the real deal when it comes to wanting to help the community and put the community
first. Several other people, some vocal and some not have also been very helpful and this has been much appreciated.

Secondly, Identification documents:
For legal reasons, and as much as we would like, we can not just purge the data. There are many many factors
behind this. The data is kept off-system. This data (and any other data) has not been compromised.

Thirdly, BitFunder remaining balances:
There are a very small number of users on BitFunder who still have balances and need to transfer out due to
WeExchange account linking and various other reasons. Users in this situation are not out of luck for the first
disbursement. As the problems are worked through on BitFunder, the remaining balances will get moved into
the new claim portal and they will be able to collect their equal distribution.

Fourth, Ukyo.Loan shares:
A portal for shares is being setup for claiming shares where users can put in redemption requests. I stopped
depositing interest payouts through BitFunder due to the problems with WeExchange. All interest owed will be
paid out and redemption requests will be honored as soon as it is possible.

Fifth, G.AsicMiner-PT:
A few weeks ago, I sent FriedCat an email and asked him to hold dividends for the AM shares being held. He still
sent that weeks dividends which I currently hold in a separate wallet apart from WeExchange. At that point
all shares were accounted for by dividend payout calculation. (The only method to track shares directly held.)
No transfers have been made since so all shares should be 100% accounted for. I spoke to FriedCat and he agreed
to hold the future dividends and will disperse them as he processes the transfers. Many users have asked to not
use their email address, or public bitcoin address, etc for the transfer and dividends. So it was decided
to use the same portal as the loan shares or a third portal for transfer management so users can decide what
bitcoin address to send the held dividends to, and what email/bitcoin address to list with FriedCat.
FriedCat will get a weekly lists of transfers and will payout the remaining held dividends he is holding.

I want to make one thing very clear. We are working very hard trying to do everything we can to ensure all
users will be able to claim a full 100% of the amount stuck.  No one set out with or currently has the
intention to scam anyone. That is why we are here and doing all this. The available bitcoin issue is not due
to me spending other peoples bitcoins or accidentally deleting the wallet. It is your choice to believe it or not.

As for "getting bitcoins out of him" goes, no matter which direction you may choose to pursue, at this point
all bitcoins we have access to at this moment have been distributed. If more were available, they would be distributed.
As bitcoins become available, they will be distributed via the portal.

I have seen some people talk about meeting up with me. I think this is a great idea. Let me state however, more
details than what you are getting here will not be available and I will not be able to make any "special arrangements".
I state again, no matter what is said or done, I will not be able to "speed things up". This is something we simply
do not have control over. I do think it would be a good idea to have more community interaction though. If you are
interested, PM me on the Forums or IRC and we can try to pick a date between Christmas and New years and a place that
is easy for all in the Dallas/Fort Worth area. If you PM me here, please use the subject "DFW MEETUP" because as you
can imagine I get quite a few PMs and as much as I want to respond to them all, it is very difficult with already
limited time.

And yes, I am still in Cyprus due to an unexpected problem wth the flight and expect to be home for the holidays.

Once again, I would like to extend my deepest apologies for the situation and thank everyone for their patience and
understanding. We will continue to work towards all solutions that will help to correct for this.

Thank You,
Jon Montroll / Ukyo

November 16, 2013, 03:13:42 PM
This is great, Ukyo, and I appreciate that you are working hard to fix this problem. But most of us would like to know:
a)When will you finish October 23rd wihdrawals?
b)When will the rest of October be done?
c)When do you expect to fix bitcoind or migrate to a different system?

Personally, I am checking blockchain.info at least 3 times a day for my transaction, and I will post here as soon as I receive it.

a: Just a couple left. Looking ahead I am expecting to get to or through the 26th today. Possibly 28th. There were less requests these days.
b: I am hoping for Monday assuming there is no fix before. There were a larger number of withdraws on the 28th.
c: I am still really hoping to get things cleared up this weekend.


November 16, 2013, 02:47:49 PM
To be clear, that was a random person. The address listed was not his nor was the withdraw.

I will continue to randomly ask people to help with this.

Please keep in mind, out of thousands of users on BitFunder, very few have posted here and seem to be looking at this thread.

If any of these transactions that I do this way throughout are yours feel free to claim them or not for privacy reasons but at least state you got your withdraw.


Also, the minimal withdraw on BitFunder has been lowered to 0.00000001 so users with any balance can withdraw.

-Ukyo


November 13, 2013, 10:29:24 PM
Of course no new withdraws are working.
I have stated over and over that bitcoind is in a constant state of non-use by the system because it either in startup/wallet loading mode, or locked up due to the latest transfer request.

Let me repeat again.
During startup, bitcoind does not respond to RPC calls.
Once it is up, I make a transfer. The moment I make the transfer, no matter what hardware is provided, it goes to 100% resources and fails to respond to any RPC requests, even after the transaction eventually makes it to the network.

-Ukyo


November 13, 2013, 05:58:41 PM
Yes, I was helping with asicminer. Divs were only delayed that one week because of FriedCat shorting the div amount and I was waiting for the rest.

I think we will be done with the 23rd today. The next few days had a lot less transactions as I mentioned before.

-Ukyo


November 12, 2013, 01:09:08 AM
WeExchange is about to make a rather important and very positive announcement about the immediate future.
There is every reason to work on WeExchange.


November 11, 2013, 10:06:44 PM
I have tried moving bitcoind to extremely powerful systems.
This did not make a difference.

I talked to a dev about running multiple copies of the wallet, however doing so could cause the private keys/keypool between the wallets to diverge and cause more problems.


November 10, 2013, 08:14:29 PM
I actually have been doing that to get more of the smaller ones done I am skipping around a large withdraw for about 30 minutes to be able to get 4 or 5 out during the same time of the bigger withdraw. It has also been hit or miss. From what I can tell, and note that I am not a bitcoind dev and have not looked at the source, that the issue seems to be bitcoind trying to located unspent inputs to put together to send out. Although this should be a fairly easy process and fast process as I have noticed most transactions do not have more than 5 to 10 inputs. All I can think of is that it has something to do with key management of such a large volume of keys.

-Ukyo


November 10, 2013, 07:14:06 PM
We are now over halfway through Oct 23rd requests. The next couple days withdraws mostly consist of smaller transactions so I think those should go a bit quicker.

Please keep in mind, we have been getting 50 to 100 withdraw requests a day.
At 20 to 50 minutes per manual transfer it is taking a while. We also noticed that larger transactions such as 50btc end up taking about 30 minutes before seeing them advertised to the network, and around 100btc taking as much as a full hour.

The other day I attempted to just move all funds to a new wallet and waited for a bit over 3 hours and the transaction never completed to the network.
At that point I returned to manual transactions. In the mean time I am working on a new system for better load handling and a method try to import the current wallet data to it so that as soon as it is ready we will be able to speed through the remaining withdraws at that time.

At this point I can understand if you wish to open a scammer tag. This has been a very unfortunate event that really caught me off guard but I will work through
everything as fast as bitcoind will let me and continue to work on the quick/permanent fix. I will not fight it but will continue to work through things to fix them and make everything right by everyone. Though if you do open one, I ask that you update it when your withdraw does eventually show up.

Many many transactions go out every day. Many people become happy about their funds and don't bother to post here or do not even know to post here.
I again would like to remind those users who are reading this that if you get your withdraw, please post here so everyone else knows. While I understand your
privacy matters, I am sure people will also be happy to know the amounts too, esp. if you are one of the larger withdraws.

Please keep in mind that BitFunder had almost 10,000 user accounts. I am sure you could imagine the massive spike in withdraws over the last few weeks on WeExchange.

Thank you for your continued understanding and support.
-Ukyo


November 05, 2013, 12:19:53 AM
Nope, didn't miss that. And wasn't surprised to see it. Ukyo said there would be an announcement later today after which he would have more time to deal with weexchange issues. From the sound of it, weexchange will be sorted out properly in a few weeks but for now we just need the wallet to work again.

Let's hope much much much sooner than a few weeks..
That seems excessive...


October 30, 2013, 07:04:50 PM
WeExchange has many many support tickets, all being handled in order.
There are technical issues with bitcoind timing out due to maxing out excessive ram & cpu no matter how much is made available to it.

You can view your addresses by clicking 'Profile'.
You can also 'Add Address' there as well as which one is your primary address. If you need this updates, please open a ticket.

I have looked into your account, and see where you did have a stuck 70btc transaction.
Looking further I see where after fixing it, your second transaction for 70btc was stuck again and was immediately fixed while we monitored it.
Within minutes afterwards you were able to withdraw more than 70btc worth.

As I stated, there are thousands of requests to be handled currently between ID requests, multiple duplicate id requests that still take time to process, users with multiple tickets asking when their id requests will be handle, users with real support requests, and users with multiple tickets open when the real requests will be looked into, not to mention all of the support tickets on BF, and the PM's I receive here, and all the code and prep work for the upcoming updates to BF as well as id verification's that need to be completed less than 48 hours from now, as well as continuing to spend time trying to identify the issue with bitcoind.

Contacting me directly is not a good reason for me to give anyone preference over another. The more time I have to spend answering questions of 'how long' and duplicate tickets, the longer it will take to get to the actual problems.

Rewriting the whole withdraw mechanism for constant retry's is certainly a good 'patch' fix but there is no time for that right now and will be at least a week out.

All users are being handled in order. No exception as it is not fair to someone else.
Now, I am going back to focusing on handling requests.

-Ukyo

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1511338713
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November 21, 2013, 06:02:47 PM
 #2

reserved
glendall
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November 21, 2013, 09:45:29 PM
 #3

Thanks for making this thread.
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November 21, 2013, 10:00:15 PM
 #4

2013-10-28 14:46:35   Withdraw        11.XXXXXXXX BTC        Processing   
2013-10-28 14:44:49   Instant Payment From: BitFunder        11.XXXXXXXX BTC        Completed

Nothing yet.

All I wanted was to transfer my G.Asicminer-PT shares to Havelock, by selling them on Bitfunder, withdrawing, then repurchasing on Havelock. This was the day before TATI announced they would do this without the 1 BTC fee and that the G.Asicminer-PT shares would also be transferred.

Gangsta's paradise.





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November 21, 2013, 10:04:50 PM
 #5

2013-10-28 14:46:35   Withdraw        11.XXXXXXXX BTC        Processing   
2013-10-28 14:44:49   Instant Payment From: BitFunder        11.XXXXXXXX BTC        Completed

Nothing yet.

All I wanted was to transfer my G.Asicminer-PT shares to Havelock, by selling them on Bitfunder, withdrawing, then repurchasing on Havelock. This was the day before TATI announced they would do this without the 1 BTC fee and that the G.Asicminer-PT shares would also be transferred.

Gangsta's paradise.

You should post this here: https://bitcointalk.org/index.php?topic=337523
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November 21, 2013, 10:59:25 PM
 #6

Link to my post after speaking to Ukyo today. Not a lot of news to report but he's alive and working on solutions.

https://bitcointalk.org/index.php?topic=337523.msg3668630#msg3668630
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November 21, 2013, 11:03:02 PM
 #7

Thanks for making this thread.

you are welcome


Link to my post after speaking to Ukyo today. Not a lot of news to report but he's alive and working on solutions.

https://bitcointalk.org/index.php?topic=337523.msg3668630#msg3668630


Thank you, updated the summary
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November 22, 2013, 07:46:14 AM
 #8

2013-11-05 00:15:54   Withdraw   3.60017775 BTC      Processing   



ukyo, where are you now?
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November 22, 2013, 11:54:22 AM
 #9

Quote
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).

We need to make a master plan which we would operate to make a pressure on Ukyo, I assume that everyone would like to get it's own coins back instead stalking and putting Greame into jail, right? I think he made a mistake and his intentions weren't to cheat WeEx members. I think the law suit is last thing that we should do.

We shouldn't work in rush and trying to make justice fast, we should make it as professionals in business do, patience in this situation is crucial, of course also finding personally Ukyo and punching him is not solution. Please treat him as a partner in negotiations with liquidity issues, and try to find solution win/win.


As you said that we'll wait until end of this week. After all we have to follow with below plan:

1) Choose mediator whom would commucate with Greame on behalf of creditors to provide us clear and transparent current status (should be choosed via voting, I propose to candidature of ff69, blastbob, Tyrion70, Lophie of course if they'll agree for that function) - deadline (end of W48/2013)

2) Mediator and we should find as many creditors as possible in similiar situation and put them together into one group + verify their IDs and reliability (end of W49/2013)

3) Mediator contact with Ukyo and ask for proof of reliability - Ukyo will have a time until end of W50

4) Depending on reply from Ukyo we should see two scenarios
a. Ukyo will show the funds until end of W51 - then he has to transfer BTC until end of W52 (end of story - everyone happy)
b. Ukyo won't prove his funds, deadline until end of W51 => proceed to point 5)

5) Clear statement from Ukyo side - what exacly happened with our BTC until end of W52 (if don't proceed to point 7)

6) How many coins of required sum he has? Maybe we could start negotiations to retreive partially our BTC from WeEx e.g. 70% of BTC (has to be decided by vote) - if we won't find any agreement satisfying both sides we have to proceed to next point - deadline end of W01/2014

7) Hire lawyer and ask for representing us as a creditors community (someone from Australia has to do it - mediator has to find out someone) until end of W02/2014

What do you think? Any suggestions?

+1
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November 22, 2013, 01:41:33 PM
 #10

Quote
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).

We need to make a master plan which we would operate to make a pressure on Ukyo, I assume that everyone would like to get it's own coins back instead stalking and putting Greame into jail, right? I think he made a mistake and his intentions weren't to cheat WeEx members. I think the law suit is last thing that we should do.

We shouldn't work in rush and trying to make justice fast, we should make it as professionals in business do, patience in this situation is crucial, of course also finding personally Ukyo and punching him is not solution. Please treat him as a partner in negotiations with liquidity issues, and try to find solution win/win.


As you said that we'll wait until end of this week. After all we have to follow with below plan:

1) Choose mediator whom would commucate with Greame on behalf of creditors to provide us clear and transparent current status (should be choosed via voting, I propose to candidature of ff69, blastbob, Tyrion70, Lophie of course if they'll agree for that function) - deadline (end of W48/2013)

2) Mediator and we should find as many creditors as possible in similiar situation and put them together into one group + verify their IDs and reliability (end of W49/2013)

3) Mediator contact with Ukyo and ask for proof of reliability - Ukyo will have a time until end of W50

4) Depending on reply from Ukyo we should see two scenarios
a. Ukyo will show the funds until end of W51 - then he has to transfer BTC until end of W52 (end of story - everyone happy)
b. Ukyo won't prove his funds, deadline until end of W51 => proceed to point 5)

5) Clear statement from Ukyo side - what exacly happened with our BTC until end of W52 (if don't proceed to point 7)

6) How many coins of required sum he has? Maybe we could start negotiations to retreive partially our BTC from WeEx e.g. 70% of BTC (has to be decided by vote) - if we won't find any agreement satisfying both sides we have to proceed to next point - deadline end of W01/2014

7) Hire lawyer and ask for representing us as a creditors community (someone from Australia has to do it - mediator has to find out someone) until end of W02/2014

What do you think? Any suggestions?

+1
Agree!!!
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November 22, 2013, 04:59:02 PM
 #11

Thanks for this thread and your work man !!


 
 
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November 22, 2013, 05:56:32 PM
 #12

Is this only me who can not log into WeExchange?
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November 22, 2013, 06:18:33 PM
 #13

I managed to login to WeExchange. Then I followed the deposit address they give me and I found this related bitcoin address a few nodes downstream:

https://blockchain.info/address/14E4jGTvz1Jfbv4bzkDtieTzYA66x9J7GF

Is this Jon Montroll's stash? (Jon Montroll is Ukyo, perhaps @jonmontroll on Twitter, friend of Ken Hashimoto aka @asmotan's friend).
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November 22, 2013, 06:54:23 PM
 #14

[19:28] <@Ukto> he
[19:28] <@Ukto> he
[19:28] <@Ukto> ... "heh"
[19:29] <nsa_> hehe?
[19:29] <Syloq> Ukto, hide, quick.
[19:31] <nsa_> the "mob" is going to start a witchhunt soon.. what is the status?
[19:33] <@Ukto> i have brought in some other people to help with the situation
[19:33] <@Ukto> and work towards the fastest resolution.
[19:33] <blastbob> Sounds good Smiley
[19:33] <nsa_> what is the actual problem with bitcoind?
[19:34] <@Ukto> I am hoping to post some sort of update tonight if possible, but probably a real update Monday/Tuesday when everything can be put together at once
[19:34] <@Ukto> the world.
[19:34] <@Ukto> it was decided to stop handing out small bits of information causing misinformation
[19:34] <@Ukto> until we can give a full an accurate explanation
[19:34] <the20year1> yay
[19:34] <@Ukto> so please work with me on this for the moment.
[19:34] <@Ukto> I am not dissapearing, and have no intentions to
[19:35] <@Ukto> I have just been very very busy lately trying to work on everything being pushed on me
[19:35] <@Ukto> but, i have to get back to the current crap
[19:35] <@Ukto> i'll be back around a bit later
[19:35] <the20year1> joy
[19:35] <@Ukto> wish i had better news
[19:36] <@Ukto> but there is some light in the tunnel
[19:36] <@Ukto> afk
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November 22, 2013, 07:39:32 PM
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^ What utter bullshit!  Undecided
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November 22, 2013, 08:09:21 PM
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[19:34] <@Ukto> it was decided to stop handing out small bits of information causing misinformation

Thats one stupid decision... lets not communicate because something could be misunderstood. I believe the persons that decided this underestimate the effects of circles of doom massively. Didnt they notice that we are are at lawsuits being spoken about already?

Anyone thinking with noncommunicating something will be better is delusional in my eyes. You only need to check different projects in the forum. The one that went bad and communicated went way way better than those that stopped communicating.

I hate this tendency in bitcoin community to stop communicating if something goes wrong.
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November 22, 2013, 08:25:41 PM
 #17

Update from me:

https://bitcointalk.org/index.php?topic=337523.msg3678253#msg3678253

CoinFarmer - completely appreciate everything you said. I'm already working on things with ukyo but unfortunately there is a need for a bit of time, which none of us want to hear but it's unfortunately true.

I should make clear - I didn't know ukyo before my I reported the problems a few weeks ago. I'm very much on the side of ensuring this is resolved properly for those with Bitcoins stuck in WeExchange.
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November 22, 2013, 11:12:19 PM
 #18

I hate this tendency in bitcoin community to stop communicating if something goes wrong.

Human nature, not just Bitcoins

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November 23, 2013, 02:59:58 PM
 #19

So what's the status Ukyo?

**BUMP**
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November 23, 2013, 04:09:57 PM
 #20

So what's the status Ukyo?

**BUMP**


he missed the update yesterday. I hope he will not miss the monday one
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