That is correct, with the qualification that he has only those on his leash who still irrationally believe to get any money back. Needless to say, nobody will see a penny.
Legally, if somebody has a contract with payb.tc or with anybody else, nobody outside that contract has any right to demand anything. The only sensible procedure is that your contract is fulfilled and the other contract, for example between payb.tc and the pirate, is none of your business.
The pirate is playing his cards well. What he really wanted is to confuse you so much that you fail to notice this next delay tactic. It seems to be working incredibly well. The pirate is certainly not underestimating the boundless stupidity of humans. Could hardly stop shaking my head when I read this thread up to here.
On top of that he gets data that he would not otherwise be able to obtain. I can only guess what he wants it for, but it certainly smells very fishy.
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The two most prevalent elements in the universe are hydrogen and stupidity, but not necessarily in that order.
my guess is:
pirateat asked for that information to let all ppt owners think that he would only pay out principal.
as (most) of the ppt-owners have old accounts their principal is not very big compaired to their gained interest -> that makes them fear that if they disclose this information they get only a very small cut.
which results in what we see now: ppt-account holders try to convince ppt-owners to tell their info to pirate - and they dont want to. which basically means he could blame the ppt-owners now why it takes longer.
it just seems to be a "buy-time" tactic. and another good thing for him: many people thinks ppt-owners are scammers. with a little fud not all the dirt is thrown at him.