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Author Topic: BTC-e legal problems?  (Read 7797 times)
Satyre_Noir (OP)
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February 03, 2014, 10:16:10 PM
 #1

This is the news spreading twitter, I'm not sure if it is fud but apparently BTC-e is under investigation... looks serious enough:

http://litecoinnews.org/possibly-btc-e-legal-troubles/
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February 03, 2014, 10:18:17 PM
 #2

Get your coins out ASAP! This one might go down fast.

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February 03, 2014, 10:19:47 PM
 #3

Thats true and it`s bad as it might sound but btc-e admins have balls to keep this exchange running. Can only hope now they dont decide to shutdown the worst way it could possibly happen.
Satyre_Noir (OP)
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February 03, 2014, 10:22:08 PM
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Thats true and it`s bad as it might sound but btc-e admins have balls to keep this exchange running. Can only hope now they dont decide to shutdown the worst way it could possibly happen.

I'm more afraid of BTC-e users panic and following stampede. Any Russians here to verify article?
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February 03, 2014, 10:30:06 PM
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Thats true and it`s bad as it might sound but btc-e admins have balls to keep this exchange running. Can only hope now they dont decide to shutdown the worst way it could possibly happen.

I'm more afraid of BTC-e users panic and following stampede. Any Russians here to verify article?

I`m russian so i can confirm, i wrote my on view on it in observer thread

https://bitcointalk.org/index.php?topic=178336.msg4920003#msg4920003
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February 03, 2014, 10:35:40 PM
 #6

I went to withdraw the few LTC I had in btc-e, and I keep getting a 504 Gateway Time-out.  If anyone else having this problem?
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February 03, 2014, 10:35:51 PM
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Nice. I hope I see bitcoin on the streets. Enough with the "exchange" phase. I want to really use it.

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Satyre_Noir (OP)
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February 03, 2014, 10:41:18 PM
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It is confirmed now though BTC-e denies wrongdoing and they increased transaction fees, it looks like BTC China scenario. Coindesk article about BTC-e: http://www.coindesk.com/btc-e-concerns-russian-criminal-investigation/

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February 03, 2014, 10:42:27 PM
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So if I understand correctly Bitstamp is now the only valid exchange left?

Bitstamp and dozens of other smaller solvent and 100% operational exchanges.

But out of the major exchanges.....yeah, looks like Bitstamp is the only one left that doesn't seem like it is away to implode and take everyones Geld and Bitcoin with it....at least I fkn hope not...got 18K USD in my Bitstamp account.

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February 03, 2014, 10:49:34 PM
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So if I understand correctly Bitstamp is now the only valid exchange left?
BitFinex has been working well, but that's basically Bitstamp + a few more coins in liquidity. Cheesy

There's uhhh... BTCChina? I think they still operate in some capacity. I think Kraken might still be going with its 2BTC daily trade volume. There's uhhh....... uhhh..... I think that may actually be it, but person-to-person exchange is booming, which is fantastic. Trouble is they generally rely on centralized exchanges to determine price to use.
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February 03, 2014, 10:50:18 PM
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It is confirmed now though BTC-e denies wrongdoing and they increased transaction fees, it looks like BTC China scenario. Coindesk article about BTC-e: http://www.coindesk.com/btc-e-concerns-russian-criminal-investigation/



It`s the only exchange that have zero AML/KYC, there`s no way they can operate legally, even in Russia. If you have a legal case against you, you`re literally done. Thats how it works in this country. BTC China had a funding problems, not a fraud and money laundering legal case, you cant compare that.
Satyre_Noir (OP)
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February 03, 2014, 10:51:41 PM
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So if I understand correctly Bitstamp is now the only valid exchange left?


They are highly professional, I use Bitstamp for over a year, excellent service.
Satyre_Noir (OP)
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February 03, 2014, 10:55:14 PM
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It is confirmed now though BTC-e denies wrongdoing and they increased transaction fees, it looks like BTC China scenario. Coindesk article about BTC-e: http://www.coindesk.com/btc-e-concerns-russian-criminal-investigation/



It`s the only exchange that have zero AML/KYC, there`s no way they can operate legally, even in Russia. If you have a legal case against you, you`re literally done. Thats how it works in this country. BTC China had a funding problems, not a fraud and money laundering legal case, you cant compare that.

They are even illegal under Bulgarian law I think, the law is more or less the same in continental Europe, here in Croatia you need to obey KYC to do any kind of financial meditation I think in Bulgaria is the same.
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February 03, 2014, 10:58:05 PM
 #14

I wonder if this is one of the reasons campbx price has been rising...I dont think campbx is a licensed money transmitter so I probably wouldnt hold a lot of fiat there, but other than than, campbx is pretty good...At least for now...
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February 03, 2014, 11:03:12 PM
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So if I understand correctly Bitstamp is now the only valid exchange left?
Maybe for Americans.
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February 03, 2014, 11:05:14 PM
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So if I understand correctly Bitstamp is now the only valid exchange left?


They are highly professional, I use Bitstamp for over a year, excellent service.

MtGox was the same in 2011.

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February 03, 2014, 11:09:58 PM
 #17

So if I understand correctly Bitstamp is now the only valid exchange left?
Maybe for Americans.
What are the other centralized options for non-Americans? (despite my awkward phrasing, I'm genuinely curious)
Satyre_Noir (OP)
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February 03, 2014, 11:10:20 PM
 #18

So if I understand correctly Bitstamp is now the only valid exchange left?


They are highly professional, I use Bitstamp for over a year, excellent service.

MtGox was the same in 2011.

You are right, they are all good until they fuck up something.  Cheesy
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February 04, 2014, 12:07:21 AM
 #19

Just got my withdraw of 5xx LTC... no problems here.

Beside Bitstamp which I use for btc, I can say Kraken works really good... they have few alts... so yeah  Smiley
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February 04, 2014, 12:31:19 AM
 #20

If BTC-E will have problems, then it will also hit hard on LTC price, since it's the biggest market for LTC.
I converted my LTC to BTC and transfered to stamp. I have always been nervous on keeping money in BTC-E, because their lack of transparency. They have a great interface and engine, but sadly I don't trust people that I know very little of. So, their confidence that everything will be fine won't make me very confident. Suffered a small loss because of this move, but I think that it was necessary to avoid the risk. I'm afraid that LTC price will drop more and there will be a lot of FUD, before it's known if BTC-E is in fact in trouble.
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