[Weexchange issue] The fall of Ukyo III - Updates and references

[WeexUser]

i don't get it, what was his last update about the situation?
anyone contacted him via irc or even personally?

who is organizing the lawsuit,  am i still able to join?

SOSLOVE868 aka Yuan Lu is organizing a lawsuit. It is too late to join now.

Last call to joint this lawsuit is 20.04.2014, and also you will need to get you money to the Lawyers account before 30.04.2014. after that date , that Lawyer will star his work, so it is no reason to bothering him to further modify the agreement between us and him.

Last public activity from Ukyo have been him setting up a loan portal for claiming loan shares and providing support for that. (last post on the forum was last week)

According to Ukyo, the problem with weex is "out of his hands atm". The following is from IRC a month ago:

Code: (#bitfunder)

<[KS]__> Ukyo: N&B not directly your fault (Danny clearly overspent - typical startup mistake), but the delays in resolving the WeEx issue haven't helped. And still aren't. Say, you'd find his BTC about now, that would make a difference for a bunch of people. No pressure :p
...
<Ukyo> [KS]__: the pressures there, dont worry. theres still hope. :)
<Ukyo> besides, i'm still here if thats any consultation. granted, if i were anyone else, i would prefer the btc over me. :P
<Kushedout> So will we be getting our BTC this year?
<Ukyo> I really hope so
<Ukyo> if i knew/had control over a time frame, i would promptly give one
<Ukyo> even if it was a shitty one
...
<Kushedout> I honestly haven’t been following this issue closely, I am just hoping this are being worked on in the background and I will see my BTC sooner or later. Yes, you being here still gives hope. And I am sorry if this has been asked before.  Is the reason for the hold up a technical one or a legal one?
...
<Ukyo> you could say, from a very narrow point of view, its a legal issue
<Ukyo> mpretty much all of the technical issues have been resolved
<Ukyo> there is hope, the problem is that its out of my hands atm.
<Ukyo> nothing i could possibly do can make anything happen any quicker
<Kushedout> So, if you “legally” could, you would be able to distribute everyone’s BTC back, today?
<Ukyo> if i had access and legally could of course i would
<Ukyo> no reason to hold ppls btc

[SebastianJu]

i don't get it, what was his last update about the situation?
anyone contacted him via irc or even personally?

who is organizing the lawsuit,  am i still able to join?

SOSLOVE868 aka Yuan Lu is organizing a lawsuit. It is too late to join now.

Last call to joint this lawsuit is 20.04.2014, and also you will need to get you money to the Lawyers account before 30.04.2014. after that date , that Lawyer will star his work, so it is no reason to bothering him to further modify the agreement between us and him.

Last public activity from Ukyo have been him setting up a loan portal for claiming loan shares and providing support for that. (last post on the forum was last week)

According to Ukyo, the problem with weex is "out of his hands atm". The following is from IRC a month ago:

Code: (#bitfunder)

<[KS]__> Ukyo: N&B not directly your fault (Danny clearly overspent - typical startup mistake), but the delays in resolving the WeEx issue haven't helped. And still aren't. Say, you'd find his BTC about now, that would make a difference for a bunch of people. No pressure :p
...
<Ukyo> [KS]__: the pressures there, dont worry. theres still hope. :)
<Ukyo> besides, i'm still here if thats any consultation. granted, if i were anyone else, i would prefer the btc over me. :P
<Kushedout> So will we be getting our BTC this year?
<Ukyo> I really hope so
<Ukyo> if i knew/had control over a time frame, i would promptly give one
<Ukyo> even if it was a shitty one
...
<Kushedout> I honestly haven’t been following this issue closely, I am just hoping this are being worked on in the background and I will see my BTC sooner or later. Yes, you being here still gives hope. And I am sorry if this has been asked before.  Is the reason for the hold up a technical one or a legal one?
...
<Ukyo> you could say, from a very narrow point of view, its a legal issue
<Ukyo> mpretty much all of the technical issues have been resolved
<Ukyo> there is hope, the problem is that its out of my hands atm.
<Ukyo> nothing i could possibly do can make anything happen any quicker
<Kushedout> So, if you “legally” could, you would be able to distribute everyone’s BTC back, today?
<Ukyo> if i had access and legally could of course i would
<Ukyo> no reason to hold ppls btc

Hm... if he kills my chance to get my coins back by killing the weexchange company... ill be angry... i mean ukyo warned already that killing the company will be a big problem. He sues anyway it seems.

[glendall]

I'm surprised some people still don't seem to get it.

Ukyo stole all your money.  Move on, it's long gone now. His loan site and your loan shares don't mean anything.  It has just been a red herring to pretend like he actually cares or is doing anything towards getting you your money back (as I've been saying for like 5 months now).  Really you got to wake up and smell the coffee. Move on or do something about it.  It's pretty much already too late.

If you think Ukyo is just going to magically one day pay you back... well its just not likely. What would be the point of stealing your money in the first place if he intended to give back to you. It's incredible, to me, how people buy his bullshit.  You know what would mean something? If he gave your money back. The loan site doesn't mean shit.

As for the IRC chat, sure he is there, but he has said a single fucking thing of any substance in months on it. It's always nebulous uncertainities dolled out each time. Seriously, try to look at the situation objectively. The guy ripped us off for millions and if you think he's going to pay you back at this point, many months later.... I dunno what else to say, you'll believe anything.

[SebastianJu]

I'm surprised some people still don't seem to get it.

Ukyo stole all your money.  Move on, it's long gone now. His loan site and your loan shares don't mean anything.  It has just been a red herring to pretend like he actually cares or is doing anything towards getting you your money back (as I've been saying for like 5 months now).  Really you got to wake up and smell the coffee. Move on or do something about it.  It's pretty much already too late.

If you think Ukyo is just going to magically one day pay you back... well its just not likely. What would be the point of stealing your money in the first place if he intended to give back to you. It's incredible, to me, how people buy his bullshit.  You know what would mean something? If he gave your money back. The loan site doesn't mean shit.

As for the IRC chat, sure he is there, but he has said a single fucking thing of any substance in months on it. It's always nebulous uncertainities dolled out each time. Seriously, try to look at the situation objectively. The guy ripped us off for millions and if you think he's going to pay you back at this point, many months later.... I dunno what else to say, you'll believe anything.

So you gave up. Or do you try to sue him? For what if you want to do this?

Anyway... i dont care about the percent of chance. Ukyo is still speaking... and my impression is that he works on things. If you have proof or a hint that he stole the coins then sue him. Without that its only an accusation out of your anger.

[discobean]

Anyway... i dont care about the percent of chance. Ukyo is still speaking... and my impression is that he works on things. If you have proof or a hint that he stole the coins then sue him. Without that its only an accusation out of your anger.

You are naive if you think he is working on something.  Why would somebody work for free, or worse, work to lose money.

[g83]

He already made millions of our coins, and someday when bitcoin is worth 3 $ he buys our coins back
and says he solved the problem..

[SebastianJu]

So the only evidence you have is your belief... the only evidence i have is the feeling i get from the chats with ukyo. Its not that he is gone... he is reachable if you want.

"Why would somebody work for free..." I fear that shows more about your character than ukyo's. Only because you cant imagine that there are honest people that try to solve thingsthat they crashed doesnt mean there arent such people.

Get in contact with ukyo and speak with him. And try not to let your fears go amok. As long as you dont have evidence for the claims of stealing its useless to claim that he stole anyway. Because you wont get it back then anyway.

[gomei]

where is our money?
FK UKYO

[NotLambchop]

So the only evidence you have is your belief... the only evidence i have is the feeling i get from the chats with ukyo...

[SebastianJu]

So the only evidence you have is your belief... the only evidence i have is the feeling i get from the chats with ukyo...

Is this again a misuse of english words from my side? Sometimes i dont know when things are read different in english than i would say it in my mother language.
I meant i write relatively often with ukyo. And i have the impression he is after it and tries to solve things on different levels. Of course thats no evidence, only an impression. Though i think its more than a claim of thiefery that has nothing backing it.

[NotLambchop]

^I apologize -- a cheap shot on my part.
I'm not sure if it's a language barrier, though.  Many people here seem to let emotions drive their financial decisions.  Which isn't a bad thing, but it's exploited by con men.  Choreographing a personal, emotional experience for the target is one of the basics of social engineering.  Passing oneself off as a victim, as a guy in trouble who needs your help to make things work out, is another.  Sharing tidbits of information and making you feel like a participant in the drama, instead of just the mark -- yet another.  This is all 101-level stuff.

I'm not saying that I found the smoking gun -- just that *all the evidence points to this being a con*, down to Danny's involvement.
And I'm not suggesting you file suit against Jon -- too much time has passed, most likely pointless now.

[SebastianJu]

^I apologize -- a cheap shot on my part.
I'm not sure if it's a language barrier, though.  Many people here seem to let emotions drive their financial decisions.  Which isn't a bad thing, but it's exploited by con men.  Choreographing a personal, emotional experience for the target is one of the basics of social engineering.  Passing oneself off as a victim, as a guy in trouble who needs your help to make things work out, is another.  Sharing tidbits of information and making you feel like a participant in the drama, instead of just the mark -- yet another.  This is all 101-level stuff.

I'm not saying that I found the smoking gun -- just that *all the evidence points to this being a con*, down to Danny's involvement.
And I'm not suggesting you file suit against Jon -- too much time has passed, most likely pointless now.

I see what you mean. And yes i cant say that its impossible that its a con.

I wouldnt set on the emotional way when it goes about investing. Unless the investment is small enough to give it a try anyway. But in the situation this is now there is no choice. Sueing wont help anything so the only thing that remains is hoping that ukyo is the honest man he claims to be and see if he can bring things back. At least ukyo is still there even though he knows he is going to be sued because of ukyo loan. I mean labcoin and pirateat40 was gone long ago at that point in time.

Its a pity that the community is using a decentralized currency but pretty much all possible points of centralization fail. Letting the members be in the mercy of ken, who seems to be unable to turn his promise into reality, ukyo... who faced unknown problems he claims trying to solve or entrepreneurs like karpeles or danny who bit a chunk that was too big for them.

I wonder if that whole situation will change at some point.

[julz]

Its a pity that the community is using a decentralized currency but pretty much all possible points of centralization fail

I strongly suspect we're also seeing some 'chain reaction' effects with some of the failures in the Bitcoin industry.
There are probably some links & dependencies behind the scenes which weren't exactly thoroughly declared to investors..  and of course the line between fraud and plain mismanagement or even just bad luck is a blurry one, which some operators have taken advantage of.

A universal theme seems to be the lack of transparency and communication about what happened... that's the surprising thing to me for an industry based around a public ledger!

[thy]

Its been what 5+ month now since the Ukyo loan stopped paying dividends on Bitfunder, how about Ukyo showed hes good intentions by paying a daily dividend every now and then to the shareholders public bitfunder adresses, just to show that your there working on things Ukyo, we all know Ukyo has sold off some assets so he surely can pay some interest but havent done so sofar.
In case the minimum transaction amount to those with 1-10 shares would be a problem interest could either be send in chunks of 11 days for everyone or send bigger chuks more rarely to the ones with only a few amount shares and more ofther for 1 day at a time to those with more than 10 shares.
Ukyo can you explain why you havent payed any dividend at all after the closure of Bitfunder ? Are you using the coins to turn them into more, like turning 1 btc into 1.1 btc every month or something ?

[thecoinjournal]

Its been what 5+ month now since the Ukyo loan stopped paying dividends on Bitfunder, how about Ukyo showed hes good intentions by paying a daily dividend every now and then to the shareholders public bitfunder adresses, just to show that your there working on things Ukyo, we all know Ukyo has sold off some assets so he surely can pay some interest but havent done so sofar.
In case the minimum transaction amount to those with 1-10 shares would be a problem interest could either be send in chunks of 11 days for everyone or send bigger chuks more rarely to the ones with only a few amount shares and more ofther for 1 day at a time to those with more than 10 shares.
Ukyo can you explain why you havent payed any dividend at all after the closure of Bitfunder ? Are you using the coins to turn them into more, like turning 1 btc into 1.1 btc every month or something ?

That would be great. I hope Ukyo disclose more info in the portal. I remember that Ukyo mentioned there's a new business would be kickstarted this month?

[g83]

Its been what 5+ month now since the Ukyo loan stopped paying dividends on Bitfunder, how about Ukyo showed hes good intentions by paying a daily dividend every now and then to the shareholders public bitfunder adresses, just to show that your there working on things Ukyo, we all know Ukyo has sold off some assets so he surely can pay some interest but havent done so sofar.
In case the minimum transaction amount to those with 1-10 shares would be a problem interest could either be send in chunks of 11 days for everyone or send bigger chuks more rarely to the ones with only a few amount shares and more ofther for 1 day at a time to those with more than 10 shares.
Ukyo can you explain why you havent payed any dividend at all after the closure of Bitfunder ? Are you using the coins to turn them into more, like turning 1 btc into 1.1 btc every month or something ?

That would be great. I hope Ukyo disclose more info in the portal. I remember that Ukyo mentioned there's a new business would be kickstarted this month?

Do you mean this month ?? If there would really be a promising business, ukyo could give us some shares in that according to our balance..

[BitHub]

You would have to be a moron to do business with Ukyo again after this last scam.

[tronsom]

Hi Guys,

Can anybody update me on what the situation is right now? I've read someone has started a lawsuit but it is not open to join any more.
Is there anything else going on? Has UKYO said something about the weexchange claims portal?

Thanks!

[WeexUser]

Hi Guys,

Can anybody update me on what the situation is right now? I've read someone has started a lawsuit but it is not open to join any more.
Is there anything else going on? Has UKYO said something about the weexchange claims portal?

Thanks!

Nothing have changed as far as I know.. But Ukyo was pretty talkative on IRC this weekend. Not much new though, this is a summary: "<Ukyo> I am not elaborating at this time."

Here is a paste of the "interesting" parts of the chat: http://pastebin.com/EJ5BT49r

[tronsom]

Hi Guys,

Can anybody update me on what the situation is right now? I've read someone has started a lawsuit but it is not open to join any more.
Is there anything else going on? Has UKYO said something about the weexchange claims portal?

Thanks!

Nothing have changed as far as I know.. But Ukyo was pretty talkative on IRC this weekend. Not much new though, this is a summary: "<Ukyo> I am not elaborating at this time."

Here is a paste of the "interesting" parts of the chat: http://pastebin.com/EJ5BT49r

Thank you!