BTC-e hacked ?? - page 4. | Bitcointalksearch.org

romani245

sr. member

Activity: 267

Merit: 255

Quote from: erk on September 26, 2017, 05:06:30 PM

Quote from: omarabid on September 26, 2017, 05:02:21 PM

Are you saying they are running fractional right now?

Hell yeah on fiat for sure.
Seems to be fine on crypto reserves.

I wouldn't assume either way. It's certainly possible that they are insolvent. But they debited 39-45% of peoples' funds from their accounts to account for that shortfall. It's very possible that the admins were selling coins OTC to rebuild their fiat reserves.

We also don't know how much of their fiat reserves were actually frozen and how much was sufficiently unaffiliated with BTC-E. I think their bigger problem is inability to easily move fiat, which is no surprise. We know none of Mayzus' companies will work with WEX now. Tongue

erk

hero member

Activity: 826

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Quote from: omarabid on September 26, 2017, 05:02:21 PM

Are you saying they are running fractional right now?

Hell yeah on fiat for sure.
Seems to be fine on crypto reserves.

omarabid

full member

Activity: 133

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Are you saying they are running fractional right now?

Beldar

newbie

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Quote from: erk on September 26, 2017, 07:24:26 AM

Quote from: ahmedjadoon on September 26, 2017, 06:40:42 AM

Quote from: omarabid on September 25, 2017, 04:23:05 PM

I'm still holding USD there. Definitively not taking a 5% haircut!

edit: wow, checked again and the advcash fee is 10% now Angry

Thats too much fee.They posted that they plan to lower fee .
I already waited 10-12 days for bitcoin rate to improve but its getting worse... But, I think I should wait more for lower fee.

The fiat withdrawal fees have most likely been raised to 10% in an effort to stop the carry trade from other exchanges exploiting the high crypto price on WEX. 10% is probably not enough. eg. USD/BTC is currently trading about 13% higher on WEX than other exchanges.

Yeah, thats a problem because this way many people brings crypto into Wex, sell and request a fiat withdraw. Wex is running out of fiat due to this and then increased fees but this is leading to trade volume reduction which is not good for the business. They need to bring more fiat to the equation to get things back to normal but sure its not easy being easy for them because there is millions of fiat in users accounts but they didnt' get any fiat from Btc-e when the platform started.

erk

hero member

Activity: 826

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Quote from: ahmedjadoon on September 26, 2017, 06:40:42 AM

Quote from: omarabid on September 25, 2017, 04:23:05 PM

I'm still holding USD there. Definitively not taking a 5% haircut!

edit: wow, checked again and the advcash fee is 10% now Angry

Thats too much fee.They posted that they plan to lower fee .
I already waited 10-12 days for bitcoin rate to improve but its getting worse... But, I think I should wait more for lower fee.

The fiat withdrawal fees have most likely been raised to 10% in an effort to stop the carry trade from other exchanges exploiting the high crypto price on WEX. 10% is probably not enough. eg. USD/BTC is currently trading about 13% higher on WEX than other exchanges.

ahmedjadoon

legendary

Activity: 1414

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Quote from: omarabid on September 25, 2017, 04:23:05 PM

I'm still holding USD there. Definitively not taking a 5% haircut!

edit: wow, checked again and the advcash fee is 10% now Angry

Thats too much fee.They posted that they plan to lower fee .
I already waited 10-12 days for bitcoin rate to improve but its getting worse... But, I think I should wait more for lower fee.

omarabid

full member

Activity: 133

Merit: 100

I'm still holding USD there. Definitively not taking a 5% haircut!

edit: wow, checked again and the advcash fee is 10% now Angry

1Referee

legendary

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Merit: 1427

Quote from: mayax on September 23, 2017, 03:29:16 PM

P.S why would a "clean" person use a such exchanger? Shocked

there is not a logical reason.

From the moment they went down, there is indeed no logic for anyone to keep using that exchange. In the same way, people shouldn't make use of Bitfinex either. Despite everything that happened, people will still make use of WEX, where we also shouldn't discard the Russian community that is somewhat tied to them. I am quite sure that if WEX manages to remain online in the coming months without being shut down by the authorities, people will slowly gain back their confidence in that exchange, especially if they end up paying people back sooner than expected.

Mrskrill

newbie

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Who has done usdt withdrawal successful here and how long did it take?

mayax

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Quote from: BitHodler on September 20, 2017, 07:38:21 PM

People must be twisted to actually want themselves to get verified at WEX ~ I would never trust this exchange with any type of verification after everything that happened, with also the US authorities in mind.

If people are desperately looking to cash out funds for whatever reason, at least make sure you verify yourself at an exchange that is exempt from any type of bad news ~ Bitstamp is a great exchange, and Gemini as well.

Not sure why people keep focusing on WEX with so many far better alternative options available. Roll Eyes

because most of these people are scammers, fraudsters, hackers, links to black market, HYIPs and so on...and YES, there are MANY IDIOTS too

the shits from Exmo, sorry from BTC-e gave them "back" less than half of their funds and the sheep are happy. they didn't ask their self : "how do I know that 45% is missing? should I have to believe a gang from Russia who laundered money for all the hackers and for all the black market? why 45% and not 44% or 46%? " Cheesy

...but the sheep is happy with what it gets. OK then ! LOL

P.S why would a "clean" person use a such exchanger? Shocked

there is not a logical reason.

erk

hero member

Activity: 826

Merit: 500

Quote from: squatter on September 22, 2017, 03:53:38 PM

Too early to say. The Greek government is in the pocket of the USA, and the arrest was carried out at their request. To boot, the Russian fraud charges amount to a small pittance vs. the American allegations. I'd like to see him extradited back to Russia, just so the US gets screwed over from all angles here. But I'm not sure that will happen just because Vinnik isn't fighting the Russian extradition.

I think Vinnik should be extradited back to Russia because that's where he is from, their should be a pecking order to these kind of things, and the country of birth should win. Simply because neither set of charges has been proven, therefore both countries claims are equally worthless until actually proven.

The DoJ could say that Vinnik is responsible for the death of a billion people in 2037, claiming they have a top secret method of seeing into the future. The death of a billion people is an extremely serious matter, but until proven, less serious than say publicly available camera footage of Vinnik stealing a loaf of bread in Russia.

squatter

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STOP SNITCHIN'

Quote from: omarabid on September 22, 2017, 03:17:23 PM

There is actually a fiat withdrawal option with 5% cut Angry

Well, at least that partly explains the price premium. I wonder how well fiat withdrawals are operating (timeline, reliability). Maybe the premium will come down once people start reporting successful withdrawals.

Quote from: ahmedjadoon on September 21, 2017, 06:23:09 AM

Quote from: erk on September 19, 2017, 04:46:03 PM

Quote from: ahmedjadoon on September 19, 2017, 07:37:02 AM

Why bitcoin is priced 8% higher than it's actual value on BTC-e? Is it likely to get better or should I go ahead convert my fiat?

It's not, fiat has less value on WEX that's all.
If you look at the coin pairs that don't involve fiat, they are about normal compared to other exchanges.

BTW Alexander Vinnik agreed to extradite to Russia https://bits.media/news/aleksandr-vinnik-soglasilsya-na-ekstraditsiyu-v-rossiyu/
That the article claims Vinnik admitted to working at BTC-e.

So, USA isn't getting Vinnik. They can shive the indictment up their ass.

Too early to say. The Greek government is in the pocket of the USA, and the arrest was carried out at their request. To boot, the Russian fraud charges amount to a small pittance vs. the American allegations. I'd like to see him extradited back to Russia, just so the US gets screwed over from all angles here. But I'm not sure that will happen just because Vinnik isn't fighting the Russian extradition.

omarabid

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Quote from: erk on September 20, 2017, 07:55:18 PM

Quote from: BitHodler on September 20, 2017, 07:38:21 PM

Not sure why people keep focusing on WEX with so many far better alternative options available. Roll Eyes

Because thousands of people are stuck on WEX in tokens, with no real option to get out, unless they take at least a 50% loss on selling their tokens, and trade their fiat for overpriced crypto to loose several more percent. There are no fiat withdrawls yet, so most of the crypto has already been withdrawn from the exchange in the flight to safety, leaving an oversupply of USD balance, but there isn't anywhere near enough USD for that kind of "bank run" unless they got investors to put lots in.

There is actually a fiat withdrawal option with 5% cut Angry

deisik

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English ⬄ Russian Translation Services

Quote from: ahmedjadoon on September 21, 2017, 06:23:09 AM

Quote from: erk on September 19, 2017, 04:46:03 PM

Quote from: ahmedjadoon on September 19, 2017, 07:37:02 AM

Why bitcoin is priced 8% higher than it's actual value on BTC-e? Is it likely to get better or should I go ahead convert my fiat?

It's not, fiat has less value on WEX that's all.
If you look at the coin pairs that don't involve fiat, they are about normal compared to other exchanges.

BTW Alexander Vinnik agreed to extradite to Russia https://bits.media/news/aleksandr-vinnik-soglasilsya-na-ekstraditsiyu-v-rossiyu/
That the article claims Vinnik admitted to working at BTC-e.

So, USA isn't getting Vinnik. They can shive the indictment up their ass.

This is not a given by any means

The fact that Vinnik himself agreed to get extradited to Russia means nothing on its own. I guess many other people who eventually ended up somewhere around Guantanamo Bay had first agreed to get sent anywhere but the US. Until Vinnik crosses the Russian border, things may change dramatically as it happened to another Russian, Victor Bout (an arms dealer) who did end up in the American prison despite all the efforts of the Russian government to get him extradited to Russia from Thailand (where he had been caught by the FBI)

Behemot2

newbie

Activity: 40

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It was interesting move yet once again to say the token buy-back time will be 1-2 years. Ppl panicked and started selling, others buy. With each transaction they get 0.4 % of the sum, which are 0.4 % they do not have to buy back, for free. They can only wait couple months by when they'll erase substantial sum after when they'll have all them moneyz to buy the tokens already. Cause with each trade, the number of tokens in the hands of customers lowers.

Or just indeed keep waiting 1-2 years by when the amount of tokens to buy back will be greatly reduced by the fees, basically to only buy from all the tiny speculants like me who'll wait all the time without touching it, efectivelly doubling the value Cheesy

Most likely the cryptos will multiply their value in the next one-two years again, so hey, gonna be rich…if there won't be civil war and no fiat by than in Europe anyway Cheesy

BitHodler

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Quote from: erk on September 20, 2017, 07:55:18 PM

Quote from: BitHodler on September 20, 2017, 07:38:21 PM

Not sure why people keep focusing on WEX with so many far better alternative options available. Roll Eyes

Because thousands of people are stuck on WEX in tokens, with no real option to get out, unless they take at least a 50% loss on selling their tokens, and trade their fiat for overpriced crypto to loose several more percent. There are no fiat withdrawls yet, so most of the crypto has already been withdrawn from the exchange in the flight to safety, leaving an oversupply of USD balance, but there isn't anywhere near enough USD for that kind of "bank run" unless they got investors to put lots in.

I know that people can't get fiat out, but they can convert everything into whatever crypto asset in order to get it out without going through verification.

Sure, you'll lose a certain part, but everything is better than handing them your sensitivity personal information, right? At least, that's how I look at things. People have got their crypto assets, plus their tokens, what else can they wish for?

It won't take long before this exchange is left with so much worthless debt tokens, and a massive shortage of crypto assets, that they will halt any type of withdrawal for whatever period ~ it's just a matter of time.

ahmedjadoon

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Activity: 1414

Merit: 1000

Quote from: erk on September 19, 2017, 04:46:03 PM

Quote from: ahmedjadoon on September 19, 2017, 07:37:02 AM

Why bitcoin is priced 8% higher than it's actual value on BTC-e? Is it likely to get better or should I go ahead convert my fiat?

It's not, fiat has less value on WEX that's all.
If you look at the coin pairs that don't involve fiat, they are about normal compared to other exchanges.

BTW Alexander Vinnik agreed to extradite to Russia https://bits.media/news/aleksandr-vinnik-soglasilsya-na-ekstraditsiyu-v-rossiyu/
That the article claims Vinnik admitted to working at BTC-e.

So, USA isn't getting Vinnik. They can shive the indictment up their ass.

ybsok

newbie

Activity: 56

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btce has been seized by fbi,what is the next?

erk

hero member

Activity: 826

Merit: 500

Quote from: BitHodler on September 20, 2017, 07:38:21 PM

Not sure why people keep focusing on WEX with so many far better alternative options available. Roll Eyes

Because thousands of people are stuck on WEX in tokens, with no real option to get out, unless they take at least a 50% loss on selling their tokens, and trade their fiat for overpriced crypto to loose several more percent. There are no fiat withdrawls yet, so most of the crypto has already been withdrawn from the exchange in the flight to safety, leaving an oversupply of USD balance, but there isn't anywhere near enough USD for that kind of "bank run" unless they got investors to put lots in.

BitHodler

legendary

Activity: 1526

Merit: 1179

People must be twisted to actually want themselves to get verified at WEX ~ I would never trust this exchange with any type of verification after everything that happened, with also the US authorities in mind.

If people are desperately looking to cash out funds for whatever reason, at least make sure you verify yourself at an exchange that is exempt from any type of bad news ~ Bitstamp is a great exchange, and Gemini as well.

Not sure why people keep focusing on WEX with so many far better alternative options available. Roll Eyes

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