Topic: BTC-e hacked ?? - page 110. (Read 199749 times)

No I didn't day that, but there will be huge market fluctuations around aug 1. It would be a good move to keep the site closed and play the market with tons of coins, making it possible to earn a lot of those $110M back without taking it from their own pockets. That is of course assuming they are trying to pay the fine, which is a very big "if"..

Thats one of the main reason why i dont believe they will come back. Some single words would be enough to fight FUD for me it looks like they dont know what to do now - exit scam will be the best option for them in my opinion. Take the billion and bye bye crypto.

It would be nice to get my money back but all hope is gone.


@stingray454
You think all this shit happens because of BCC ? lol stop dreaming - they dont need to ruin their money making machine for such an action. Fake DDOS for 24 hours on 1. August would be more than enough.....

You assume they haven't saved any of the profits they made so far. They have been running for what, 5 years? Sure the profits increase with time, but they should easilly have made 2-300M during that time. Sure they have costs and have surely taken nice salaries for themselves, but I don't think they would start from 0. My guess is they are using the coins / funds from the site to play the market around aug 1, they could probably make a huge chunk of the cash back that way.

How is BTC-E a $4 Billion company? That figure counts the total transactions made on that site for a few years, not their total asset. As for covering $110 million, I took a quick count of their earning in fees. So, before they went offline, their daily volume was about $56 million on all currency pairs. Since there's no maker-taker system, it's safe to say that they earned about 0.4% (0.2 for two sides) for most of the transactions. That brings them about $224K in daily earning. Let's be nice and assume that this is their average day and without taking lower price or volume into account, it will take them 500 days to cover $110 million. This is while covering operational cost which definitely won't be cheap.

All in all, I don't think they will be able to continue unless they levied the cost on the users but even then it's still hard to function without profit for the next 1.5 years. The only way I can see it will go well if they either take a plea deal that reduces the fine to a more manageable amount or just ignore the whole ordeal and becomes more rogue than ever while still maintaining trust from bitcoin users in general.

What makes me most suspicious at the moment is the total lack of communication. Everyone already knows what happened, word travels fast. If they had updated every hour / few hours with stuff like "btc-e founder arrested, need some time to clear up allegations", "no servers has been siezed", "all funds are safe, don't worry, we just need some time to solve this" and so on, I'd be a lot more calm.

As mentioned before, last two tweets were exactly 24 apart.. if we get another tweet in exactly 15 minutes I'll be a lot more suspicious.

EDIT: Sorry, 1h 15 min, miscalculation.. We'll see in an hour. (8:42pm CET)

I have no idea what's going to happen. I did loose some money there (probably), but not most of it, cause I spread it out. I'm just speculating.

I never said they have a moral problem with an exit scam. It's in their own self interests to find a way to weather the storm. Remember they may have some links to illegal money, but they aren't ponzy scheming. They earn legitimate fees from people trading. People with BTC-e type of funding tend to be a bit better at hiring the right people to navigate legal land better than two bit criminals with 30 day scam websites.

The more that dark web drug markets are taken down the more they keep popping up. I don't think they would have any trouble selling it. A lot of people are willing to risk a lot more for a lot less than the amount of money that the owner of BTC-e will make if it comes back up and running again. People will stuff their butts full of heroin for a few thousand dollars and risk dying. You think there's no one brave enough to give this a shot? I just think there's plenty of reasons for it to come back. Maybe it won't, but to think no one is willing to take the risk if they can figure out a way, is pretty simple minded.

Haha . Me and my big mouth..

I just noticed.... haha, what about everything

This is exactly my thought and the twitter statements reflect that. Their intention seems to be honest business regardless what people write here - the question is are they able to do it, do they have access to backups, do they have access to the wallets and bank accounts and do they feel safe about everything?


It seems that there were warrants for Equinix datacenter, but it is very vague. Also, arrest happened Monday morning, trollbox offline Tuesday morning https://btce.penek.org/trollbox/ - so it could be that the servers were kidnapped by USA but with doubt, because normally servers are taken before or at the time of the arrest or let it be running as a honey pot and this let me wonder, where is the big fat "USA seized your money" logo?

But the first twitter statements indicate that they indeed thought it is datacenter problem because servers were hijacked by USA.

So you really think they come back like nothing happened and all is okay again?

I lost ~1 BTC and its okay for me. Fk off.

There's a reason why nobody knows the identity of BTC-E admins. If they support crime they wont have a problem with an exit scam.

Normally theres an announcement until they go down for maintenance. They went down without an announcement or information in trollbox. Normally the admin join T-Box to give information about changes or maintenance. I made one of last messages in t-box and there was no information. Instant shut down and gone.

Maybe I'm a bad guy for you because spreading my opinion. You can stay in fear or accept it. You know the risk - spread your money on different exchanges and prefer cold wallets or accept the risk.

Yes you are right about money making but if one of the admins get cought there is not enough time to sell - would you buy it if you know the last admin is preparing for jail? Moving to darknet means no fiat/sepa support would also be a bad option in my opinion.

Maybe its an exit scam and they prepare to run it legal (xbtce) who knows.

bingo

BTC-e is a huge money maker for whoever is brave enough to run it. As long as the site isn't taken over by authorities, there's a huge incentive to come back. If they do come back they will recover public trust very quickly and more than ever before. If the original owners want to get out they can sell it to someone else. Guaranteed, they know plenty of people ready and willing to run the site and and make millions.

Whatever amount of money is stored on BTC-e right now that they could steal is NOTHING compared to the profit they've made in the past six years, and NOTHING compared to what they will make in next six. To steal it all and run would be like a drug dealer just doing all his drugs instead of selling them. Even if they are willing to screw all their customers because they're just assholes. Slaughtering a cash cow is stupid. How stupid do you think these people are?

$110 million fine is pocket change to a $4 billion company. If BTC-e is going to steal all the money, it's not cause they need a few million dollars for a fine.

Who know's what will happen, but there are a lot of reasons for BTC-e to come back. I wouldn't be surprised if they start again on an onion site and go Tor only.

If they do manage to come back, this drama and attention will make them kings to the anti-government/privacy people. They will be more popular than ever. I think they are smart enough to realize this reality. I think it's entirely possible they won't come back, but I think it's utterly stupid to think they don't want to if they can.

Is there any evidence that the authorities have control of the servers or the funds?

BTC-E also had plenty of better opportunities to "exit scam". They were far from their peak now as poloniex and other exchange has taken a lot of their volume. The only reason would be if they were scared for their life (as in, of getting arrested). I can sympathize with that point although I hope they come through and deliver, I much rather btc-e admins end up with the funds than US government thugs.

This is wrong in every sense. No wallet movements, nothing about seized bank account. Why would they inform the public that btce is still alive if they are on the run with the money. Ok, if they are stupid, they would think it is a better distraction to tell btce is alive than let people believe USA seized everything.

No, nobody is waiting. Every creditor has been notified that mtgox is under bankruptcy and has a trustee managing funds. They are waiting for payments now, but that is a different matter.

The fact that mtgox "did the same" doesn't mean btc-e will do the same thing. Why would there even be any correlation here? These are two completely separate entities and they were brought down for entirely different reasons. Stop spreading FUD.

Perhaps the admins are honorable people and just want to give people their money back? They do exists you know, even if you might not be one yourself. Just like mtgox and btc-e is two different entities, so is you and the btc-e admins. If you would have stolen the funds, it doesn't mean they will. Let's see.

Or the opposite.  If the whales have no issues getting out fiat they may take it while they can.  

EDIT: For the record, I hope you are more correct than I am on this...

Wouldn't it be the opposite then? If no exchange is safe, people need to get the money out quickly. Only way to do that is buy BTC with their fiat and withdraw. In fact I speculate this will happen if BTC-E comes back. People will buy BTC there and withdraw, causing a massive spike in the BTC price.

MT.Gox did the same "we are back in some days"..... I think many people are still waiting


The hard fork COULD BE A REASON - but i dont think so because it would be easy for the admins to gather BCC without such troubles, hardcore bad news and 10 days downtime.

Come on guys - IF they really come back 75%+ of the users would withdraw their money. This is no speculation I'm sure many BTC-E customers will do and some friends already told me they hope they get their money back to leave BTC-E forever.

For me this Twitter messages mean "please dont worry we only prepare the exit scam".


I read the same about the "hardcore crime t-box" on BTC-E but like always fake - for T-Box users its a way to see the printed lies.

+1 on this.

Don't get sucked in by these bleak mofos saying btc-e is not coming back.

Even with a fine the site generates huge revenues, keeping it offline would literally be spunking wads of money into the ocean for no reason.

Next Week Grand Re-Opening

delicious Soviet borsh cabbage soup for all

To all who posted here about "Russia will retaliate", "Putin will kick US's ass", "BTC-E will relocate to Russia and everything will be fine", and similar stuff, I have to inform or remind you that BTC-E is banned in Russia and dealing with cryptocurrencies is illegal activity in Russia. For this reason, BTC-E has moved out of Russia to Bulgaria.

And accusations by WizSec that Vinnik or BTC-E has stolen bitcoins from MtGox because they have found that the coins went right to a BTC-E cold storage - is total bullshit. It just means that the MtGox hacker sold the coins at BTC-E.