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The Feds want BTCe closed and the founder in prison. They even bring up liberty reserve in the paperwork.
https://www.justice.gov/usao-ndca/pr...84661/download
I'm not sure if this is the first of hitting every exchange or just BTCe. There is the possibility that hitting exchanges will make alt coins far harder to transact with as an American "Land of the Free!". Although there are a number of distributed exchanges being developed so this may not be an issue for long.
Yikes
I had over $2000 in that exchange!! Foulking feds got even more of my money! The bastards won't be satisfied until they have everything everyone makes. Even then, they'll be demanding our bodily fluids...
I wonder if this can be written off?Quote:
Originally Posted by ChristianAnarchist
the Gov. hates competition... they are the largest criminal org in the world.
I had a negligible amount there..still that sucks.
Petition here..altho I think these are generally pointless
unbreak the link
https://wwwdotchange.org/p/departmen...signer_receipt
And now I have no idea when or if I'll ever be able to log in again and get my property. The FEDS like to seize property and tie it up for years. Who knows if we will ever be able to log in again (and of course there's no personal identifying info on my or most accounts...)
Wasn't the distributed nature of the network supposed to prevent this?
If you send your bitcoin to an exchange, the exchange has your bitcoin obviously, so if their wallet gets seized obviously the coins they credited to you in their wallet will get seized. Same as if you sent your gold to be stored in a companies vault and they credited your account for it, and then that company got seized by the goobermint.Quote:
Originally Posted by timosman
It's a bad idea to store bitcoins on an exchange, that is like the most common advice given to newbs. Of course you have to use exchanges though if you want to "cash" out or actively trade. BTC-e was a bit shady though, just because no one knew who owned it. I used them a bit in 2014.
I have exactly 0 bitcoins on an exchange, and when I do cash any of them out, I send them, and do my business within minutes of the exchange receiving them. So, very little time my bitcoins rely on the exchange security or whatnot.
This is all great unless you are trying to play the market. I was not aware of the problems with btc-e but I did have some small amount of money in Mt Gox and because of rumors I moved all of my money out a few days before their collapse. I did not see this one coming though...Quote:
Originally Posted by RonPaulIsGreat
BTCe only had a few coins however they were mostly the older, established ones. I wonder what percentage of all LTC and the like are now in limbo somewhere?
I dunno, but if the government is trying to make friends, this isn't the way to do it.Quote:
Originally Posted by kpitcher
#goonerment never needs to make friends because they have their #goonsquad to kill anyone who objects. The only way to defeat them is to convince their goons that they need to find other work...Quote:
Originally Posted by dannno
BTC-E Says It Will Return Customers' Bitcoins After Being Shut Down By DOJ
http://www.zerohedge.com/news/2017-08-04/btc-e-says-it-will-return-customers-bitcoins
It's possible. The guy that was arrested, from what I understand, was someone that was using his potentially ill-gotten funds and traded via BTC-e platform and this was the grounds that usgov.inc used for shutting down the site indefinitely. The folks behind BTC-e are anonymous so it's unlikely that the feds know their whereabouts and surely they're safe if they're in Russian territory. It would be a royal FU to the feds if these guys reopened up shop at a different platform w/ their users' accounts and passwords intact, showing that an anonymous exchange can show fiduciary responsibility for their customers in this crypto space. The feds likely made away w/ any fiat on the platform but it's possible that their cold storage could be safe. The next move is on the BTC-e crew.Quote:
Originally Posted by Swordsmyth
I'm hearing BTC-e is coming back online in a similar fashion as Bitfinex when they were hacked. Although maybe a bit worse. 45% haircut across the board and everyone will be issued a new BTC-e token equal to the USD value of the haircut.
This was from the petition site:
PETITION UPDATE
Update 5 by BTC-E
Tamer Dahdul
Palestinian Territories
AUG 9, 2017 — https://twitterdotcom/btcecom/status/895231659490115584
Update5! Important! 08/09/2017
Exit from the current situation with the arrested Fiat:
1. Last 14 days we were engaged in struggle for your means, it was possible to gain control over 55% of funds (depends on the course), the remaining 45% are arrested funds, the most part in fiat. As the arrest is withdrawn from the accounts, the amount will decrease.
2. What is the way out of the current situation we see:
2.1. Work under the current BTC-e brand is not possible due to unresolved issues from the Office of Financial Crimes of the US Treasury.
2.2. At the moment, we are negotiating with a group of investors (an investment company), about buying and prompt launch of the service and repaying debts to customers. Further, the process of repayment of debt obligations will be described in more detail.
2.3. After we transfer all balance sheets of the investment company, we will recalculate the balance sheets.
2.4. The conversion procedure, taking into account the available 55% of funds:
2.4.1. All liabilities for fiat (USD, EUR, RUR) will be transferred to BTE tokens (1 BTE is 1 USD) at the exchange rate on the date of conversion. Probably, for more operative closing of promissory notes, ICO will be held on BTE tokens.
2.4.2. If you have on the balance the amount in koin, then you will be written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD). At the exchange rate on the day of conversion.
2.4.3. If you have a balance in BTE, then you will be credited with 45% in koin (the amount will be divided into 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH) and write off the amount of 45% in BTE.
2.4.4. Upon all recalculations, all users will have the opportunity to withdraw 55% of their funds from the system.
2.5. The investment company works in compliance with KYC, AML and the licenses required for this activity, so all users will need to undergo verification.
2.6. Tentative start dates end of August.
3. All debt obligations will be closed primarily from operating income from the investment company's commission, as well as from the funds we plan to sue from those who illegally arrested them.
The closing of the debt will be based on the principle of buying BTE tokens from the market.
The next update will provide more details on the procedure for accessing information on your balance sheet and when these funds can be withdrawn.
From the BTC-e team we officially inform that all the funds that were in the reserve fund (including all our income) were transferred to pay off the debts.
P.S. A warning! The cases of posting fake links on allegedly our new domain have become more frequent. All official information about our service is placed only in our twitter and from our official account on the forum.
Sincerely, BTC-e team
why is the US gov the supreme power of the world. the internet has no nationality.
BTC-e is back online at https://btc-e.nz/, so you can log in and review your balances. You can immediately w/draw 55% of your holdings, forgoing the rest of the 45% which you can get in house tokens after 9-15-17.
Well good. I got back into my account but of course my coins have all been sold at the old price and I have access to my $$$ but I wish the coin orders had not executed and I had my coins back at the new prices but hey, at least I have my money now. Could have been at least double if the sell orders hadn't executed...
Glad to at least have access to my funds. I better find out how to extract what I have before the feds shut this down too...