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Author Topic: Why is no authority after btc-e.com?  (Read 4040 times)
deluxeCITY
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January 13, 2015, 04:10:16 AM
 #21

The owners are "anonymous" and from a Russian speaking country.

It is alleged that Russian authorities often turn a blind eye to fraudsters and let them commit their crimes because it causes losses for the US financial system and it is seen as a kind of economic warfare against the US. The same thing is probably going on here, with Russian authorities turning a blind eye to btc-e.
Their location is actually only speculated to be in or around Russia (most speculation is that it is based in the Ukraine) because the time stamp on their servers matches that time zone.

In reality however, even their approximate location is not known as they use a number of identity masking services to hide their true identitys
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January 14, 2015, 03:18:31 PM
 #22

Most likely they are in a country that is not on good terms with the USA, so the USA has no course to go after them and the country they are in has no laws for this, no way to enforce them or does not want to enforce them.

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January 16, 2015, 07:43:35 AM
 #23

it is a russia based exchange that follow rules of russian govt only
and about US Laws, it didnot apply to whole world they are just US laws not universal laws
That and the owners are allegedly anonymous. I'm not sure how they get away with that.
This is why. Since no one knows who their owners are or where they are based out of, no government is able to compel them to give up any information/assets.

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January 17, 2015, 03:45:28 PM
 #24

there should be a class action suit against them
GreenStox
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March 29, 2015, 02:46:02 AM
 #25


They do use cloudflare.com as a CDN, which is a US-company, so at least the US-authorities could easily track ithem down, and find out where they are hosted, and by whom! We know about NSA, the snowden stories, that chasing them down by pressing just one button could easily be done.


Then you are really naive, no offence. You misunderstand the role of those agencies.

The role of those spy agencies is not to catch criminals or make justice, but to oppress people and spy on innocents, like they do now.

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moko666
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March 29, 2015, 11:03:45 AM
 #26

i heard that btc-e.com is russia based and USA authorities can't do anything
they mostly do what is against usa, they support such stuff
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March 29, 2015, 06:05:31 PM
 #27

Probably because no one really knows where they are from.
So you can't say they are something illegal if you don't know which laws apply to them.

Unless money laundry is actually explicitly illegal in the whole world. Don't think that's the case yet Grin
GreenStox
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March 29, 2015, 06:19:35 PM
 #28

Probably because no one really knows where they are from.
So you can't say they are something illegal if you don't know which laws apply to them.

Unless money laundry is actually explicitly illegal in the whole world. Don't think that's the case yet Grin

They are from russia, or atleast one of the main owners of it is from there. I just saw an article on coindesk that was talking about them.

I dont think russia has very strict laws about this. Especially now that the western world is banning eastern stuff, you can be sure that the russians will protect their own companies against western threats

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March 29, 2015, 06:25:44 PM
 #29

It's the active trollbox: Even the strongest authorities are afraid to mess with the btc-e trollbox.  Cheesy

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March 29, 2015, 06:30:08 PM
 #30

I dont think russia has very strict laws about this.

Maybe Russia is less strict when it comes to AML/KYC, but Russians are not allowed to use Bitcoin

Probably because no one really knows where they are from.
So you can't say they are something illegal if you don't know which laws apply to them.

A UK company named Mayzus Financial Services Limited certainly knows who's behind BTC-e, since they are processing payments for them.
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March 29, 2015, 07:27:16 PM
 #31

I dont think russia has very strict laws about this.

Maybe Russia is less strict when it comes to AML/KYC, but Russians are not allowed to use Bitcoin

Yes it's all fun and all to bash the USA, (hahaha you have no power here yankees!) but I can guarantee shadow banking and money laundering is just as illegal in Russia or China as the US. But just like the US it's not what you did but who you know, pay off the right people and you can evade or delay prosecution for awhile.
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March 29, 2015, 08:15:02 PM
 #32

Only thing to say is well played BTC-E!! Dodge the authorities and make a good name to have customers over years. Simply well played!
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March 29, 2015, 09:12:54 PM
 #33

Only thing to say is well played BTC-E!! Dodge the authorities and make a good name to have customers over years. Simply well played!

They are not "authorites" ,nobody gave them authority, they self proclaimed it, they are just a bunch of thieves trying to destroy a very competitive and pro-capitalist business with all their stupid rules and regulation.

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bluudz
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Why so serious?


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March 29, 2015, 09:24:44 PM
 #34

Only thing to say is well played BTC-E!! Dodge the authorities and make a good name to have customers over years. Simply well played!

They are not "authorites" ,nobody gave them authority, they self proclaimed it, they are just a bunch of thieves trying to destroy a very competitive and pro-capitalist business with all their stupid rules and regulation.

Well yes. If you had the feeling of irony from my post it wasn't.As long as BTC-E works as it did till now I do applaud to them.
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March 30, 2015, 08:14:52 PM
 #35

I can't believe you're happy that they are dodging the laws and remaining anonymous. Your praises will stop when you come upon an empty account and have noone to turn to. I hope it won't happen, but people actually start to like the law and authorities once they are in trouble.
I have nothing against Btc-e, but a bit of transparency never killed anyone.

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March 30, 2015, 08:26:52 PM
 #36

I can't believe you're happy that they are dodging the laws and remaining anonymous. Your praises will stop when you come upon an empty account and have noone to turn to. I hope it won't happen, but people actually start to like the law and authorities once they are in trouble.
I have nothing against Btc-e, but a bit of transparency never killed anyone.

+1 the Bitcoin economy could be much safer if they did basic identity checks like any other exchange.
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March 30, 2015, 08:33:21 PM
 #37

I can't believe you're happy that they are dodging the laws and remaining anonymous. Your praises will stop when you come upon an empty account and have noone to turn to. I hope it won't happen, but people actually start to like the law and authorities once they are in trouble.
I have nothing against Btc-e, but a bit of transparency never killed anyone.

BTC-E is the only exchange that I'll ever use. Their exchange is probably the most illegal, but its the only one that has been around as long as it has been. I was actually in the BTC-E chat the first and only time they got hacked, and they refunded everyone within a few hours. It was a pretty sizeable hack too, something like $40k USD, and BTC was around $10/coin at the time. About a year's worth of their service fees.

They even made me a custom chat gif for my birthday  Grin

I dont especially care that they aren't transparent as long as they work, I dont have enough fingers to count the "legit" exchanges that have popped up and run with people's money. I dont know if they are doing things legally in Russia, but by staying anonymous they have pretty successfully dodged US regulators.
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March 30, 2015, 09:35:37 PM
 #38

I can't believe you're happy that they are dodging the laws and remaining anonymous. Your praises will stop when you come upon an empty account and have noone to turn to. I hope it won't happen, but people actually start to like the law and authorities once they are in trouble.
I have nothing against Btc-e, but a bit of transparency never killed anyone.

Everybody should risk as much as they can affort to lose.No investment is 100% safe.

If you are afraid that they rob you a few coins, but you ignore the fact that the so called authorities rob 80% from you every month for the rest of your life is really ignorant.

You also don't like the "authorities" after they break into your house and machine-gun your dog like they do 99.9% of the time.



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Bit_Happy
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March 30, 2015, 09:39:15 PM
 #39

I can't believe you're happy that they are dodging the laws and remaining anonymous. Your praises will stop when you come upon an empty account and have noone to turn to. I hope it won't happen, but people actually start to like the law and authorities once they are in trouble.
I have nothing against Btc-e, but a bit of transparency never killed anyone.

BTC-E is the only exchange that I'll ever use. Their exchange is probably the most illegal, but its the only one that has been around as long as it has been. I was actually in the BTC-E chat the first and only time they got hacked, and they refunded everyone within a few hours. It was a pretty sizeable hack too, something like $40k USD, and BTC was around $10/coin at the time. About a year's worth of their service fees.

They even made me a custom chat gif for my birthday  Grin

I dont especially care that they aren't transparent as long as they work, I dont have enough fingers to count the "legit" exchanges that have popped up and run with people's money. I dont know if they are doing things legally in Russia, but by staying anonymous they have pretty successfully dodged US regulators.

I have also enjoyed their sight a lot over the years. I hope they still have good volume in the future.  Smiley

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March 30, 2015, 09:50:41 PM
 #40

The following countries could take action against BTC-e:

- the United States (taking their .com domain name, Cloudflare and GoDaddy)
- the United Kingdom (freezing funds of their payment provider)
- Australia / New Zealand (via Instra.com)
- Latvia (freezing the SEPA account of their payment provider)
- Hong Kong (freezing their Perfect Money funds)
- Russia (freezing their Yandex Money funds)
- their home country
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