[BitFunder] Moving Forward/Resolution Process

[FPCN]

Do we have some updates now?

[Bananery]

It's over 5PM, Monday 16th. Where is the update?

[g83]

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.

so its almost 6.25 GMT +2 and still no news - i really don't understand why he can not just do what he promises one single time

nothing changed in weexchange, no withdrawl - simply nothing

[mgio]

What I want to know that any identity documents I sent to bitfunder and weexchange will be destroyed?

Another question I've been waiting to see answered. Seems to be continually danced around or ignored.

Users need assurance that every personal document is destroyed together with (any) backup copies.

How do you want to make sure they destroyed our documents - this is impossible..

Agree, but at least this would help:
1. Statement that it is destroyed an what method was used
2. Statement that WeEx does not have any other copies than it was destroyed.
3. cosigned statement of 3rd party (witness) that it was done as it was said in 1)

My $0.02

This is a complete waste of time. There are much more serious and important things to worry about. Namely, the millions of dollars owed to investors.

Did Bitfunder/weexchange have a clear policy regarding their handling of identity documents? If not, then you are out of luck. If you are uncomfortable sending them copies of your ID, well, then you should have never have sent them.

I really hope that ukyo doesn't waste a second of his already busy schedule dealing with this.

[twentyseventy]

Guys, I don't have any money in BF, I'm just an observer. But I think this needs to be your last straw- I would quit letting Danny make excuses and demand the full explanation.

He clearly can't keep promises, so I wouldn't trust him. Ukyo is either a scammer or a liar who can't keep BTC entrusted to him safe. Either way, he has lost all respect from me and I don't see why anyone should still be sticking up for him.

Start filing your lawsuits against Ukyo or whatever your contingency plan is.

[cryptocyprus]

Ukyo will be positing the link where people can log in and action the withdrawal before he flys back to the US tonight.

TwentySeventy as an observer what promise have I broken in relation to helping get people their Bitcoins back? People can demand all they like, heck they can visit me in person. But it wont change the fact that I am legally bound to maintain silence for the time being with regards to the full story.

[twentyseventy]

Ukyo will be positing the link where people can log in and action the withdrawal before he flys back to the US tonight.

TwentySeventy as an observer what promise have I broken in relation to helping get people their Bitcoins back? People can demand all they like, heck they can visit me in person. But it wont change the fact that I am legally bound to maintain silence for the time being with regards to the full story.

Danny, you literally couldn't even keep the last promise that you made here:

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.

The update was not posted before that time and users still cannot withdraw the funds.

It would go a long way for you to:
1. State why you are helping with this process. Time isn't free, so I'm assuming you're being compensated in one way or another.
2. State why you're not legally allowed to discuss this. Is it an NDA? Is it because a crime has taken place? Giving a simple, one sentence reason for WHY the law (and what law, US law? Cypriot law? EU law) prevents you from providing the explanation is necessary at this point.

I've only been around for the last eight months and I've seen too many scams end by a bunch of 'wait until next week' promises that eventually trickle away.

[cryptocyprus]

8 months is that all, I too have seen way too many scams and didn't want this becoming another. I do have an extremely personal vested interest in getting this resolved. One that will make many people struggle for words when they realise just how petty they have been and I have taken the stance that every single person will get their coins back before I receive anything.

If I talk about what has happened it will break US law. I am easily held accountable whilst I live in Europe.

It is now down to Ukyo to post the link. 2/3 hours and you want to string me up for it.

[crumbs]

8 months is that all, I too have seen way too many scams and didn't want this becoming another. I do have an extremely personal vested interest in getting this resolved. One that will make many people struggle for words when they realise just how petty they have been...

But you'll say "Father, forgive them; for they know not what they do," amirite?

[twentyseventy]

8 months is that all, I too have seen way too many scams and didn't want this becoming another. I do have an extremely personal vested interest in getting this resolved. One that will make many people struggle for words when they realise just how petty they have been and I have taken the stance that every single person will get their coins back before I receive anything.

If I talk about what has happened it will break US law. I am easily held accountable whilst I live in Europe.

It is now down to Ukyo to post the link. 2/3 hours and you want to string me up for it.

First, I hope that you're serious about the part that I've bolded - that you're promising that you will not receive any funds until BF/Weex users (and Ukyo.Loan holders?) receive their funds.

Especially because you issued a threat that users who seek legal recourse will be moved to the back of the line. So, which is it? Will all users receive their coins back before you, or just those that choose to trust you and (the clearly untrustworthy or incompetent) Ukyo and don't take legal action?

If people don't want me to help towards getting their coins back just say, lawyer up, go for it yourselves (Good luck) and I will reduce my targets by their amounts and continue towards getting everyone that is happy it their coins back. In fact it will make my life much easier.

Contradicted here as well:

The "no preferential payments" part of this, is something dictated from above.

Second, thank you for stating that is it US law, but there' still no explanation as to what US law it would be that you would be breaking by discussing this.

Lastly, 3 hours isn't the end of the world, but when it comes to people's money, don't make promises that you can't keep. Here are a few others that you've broken:

1.

So do you believe that we get our coins back this year ?

The process of receiving them will start this week.

2.

There is a tiny amount of BTC in the wallets, however by this Friday there will be access to these coins, distributed on a proportional basis.

3.

The update that I had planned for today shall now be made at noon (GMT+2) tomorrow. Sincere apologies for this, however the information that can be provided tomorrow will be much more detailed than previously expected.

I hope that you do work towards solving this. But please do it in a manner that is respectful to the community and its users, however frustrated they may be, and a manner in which all of the promises that you make are kept.

[SOSLOVE868]

Where is the link for action withdraw?thank u

[glendall]

I just hope that if the link isn't posted today people will stop being strung along. Been trying to show people how this works for weeks but I haven't been successful yet apparently.

My guess: link won't be posted, instead we'll get a small update about how something last minute went wrong, and then 'a lot more details will be coming really soon' kind of post.

I hope I'm wrong! Let's see what happens. So far it's exactly as I've been saying for the last month and half...

[matt4054]

I wish I were an observer here but I got several BTCs held in hostage here  

So, you said there would be a first repayment today, at an undisclosed ratio AFAIK, why is this? And how do we get that first repayment? It is past 9pm here, and already "tomorrow" in Australia... sigh. Oh, that's Cyprus, right.

Please, don't make it look worse than it should!

[hammurabi]

Worth noticing is that prior to BitFunder closing down these USA Laws caused BTC Trading Corp - btct.co to wind down as well.
But somehow Burnside (the exchange operator) managed to sent out every last satoshi to its users without any hiccups.
He even went for extra efforts patching bitcoind daemon just to be able to sent out the whole remaining dust.

No law was prohibiting him from returning users' property.

[bittymitty]

Didn't Bitfunder shut down just after Silk Road.  Could Ukyo and thedreadpirate be related?

Did the server get shut down and ceased by the FBI?

[gannicus]

My guess: link won't be posted, instead we'll get a small update about how something last minute went wrong, and then 'a lot more details will be coming really soon' kind of post.

+1

[matt4054]

[AngelSky]

Amazing company.

[discobean]

Last update was when ukyo moved to Cyprus, next update when he has a new identity, then no more updates.

[Bogart]

Guys, I don't have any money in BF, I'm just an observer. But I think this needs to be your last straw- I would quit letting Danny make excuses and demand the full explanation.

He clearly can't keep promises, so I wouldn't trust him. Ukyo is either a scammer or a liar who can't keep BTC entrusted to him safe. Either way, he has lost all respect from me and I don't see why anyone should still be sticking up for him.

Start filing your lawsuits against Ukyo or whatever your contingency plan is.

I demanded a full explanation from the start.

Ukyo definitely lied.  First he lied saying that the issue was a technical problem with the wallet, and then he lied again telling us on IRC that the funds were all safe.

I agree that a lawsuit is the best way forward.  The discovery process should bring out some answers at least.