He still has a lot to pay back
Frozen Funds
Update 3rd January 2016
Payout to frozen accounts this month:
3.45 BTC
101.6 LTC
151,953.9 FTC
48,937 TRC
Total balances after the amounts have been distributed
BTC: 328 accounts with frozen amounts, total 1,666 BTC
FTC: 0 accounts with frozen amounts, total 0 FTC
LTC: 2162 accounts with frozen amounts, total 124,763 LTC
TRC: 39 accounts with frozen amounts, total 78,782 TRC
Update 20th August 2014
Payout to frozen accounts this month:
10.515 BTC
15.24 LTC
29.44 FTC
9.61 TRC
Total balances after the amounts have been distributed
BTC: 329 accounts with frozen amounts, total 1,671 BTC
FTC: 42 accounts with frozen amounts, total 151,953 FTC
LTC: 2299 accounts with frozen amounts, total 124,864 LTC
TRC: 77 accounts with frozen amounts, total 127,719 TRC
Update 15th July 2014
Payout to frozen accounts this month:
13.87 BTC
17.34 LTC
26.75 FTC
10.61 TRC
Total balances after the amounts have been distributed
BTC: 335 accounts with frozen amounts, total 1682 BTC
FTC: 42 accounts with frozen amounts, total 151,983 FTC
LTC: 2330 accounts with frozen amounts, total 124,880 LTC
TRC: 77 accounts with frozen amounts, total 127,729 TRC
Update 8th June 2014
Payout to frozen accounts this month:
24.82 BTC
20.30 LTC
6.51 TRC
65.30 FTC
Total balances after the amounts have been distributed
BTC: 346 accounts with frozen amounts, total 1696 BTC
FTC: 42 accounts with frozen amounts, total 152,010 FTC
LTC: 2380 accounts with frozen amounts, total 124,897 LTC
TRC: 77 accounts with frozen amounts, total 127,739 TRC
We have made a minor change to the BTC distribution, we have capped the returned amount to 1 BTC per user, thus allowing for more users to receive back funds
Update 5th May 2014
Payout to frozen accounts this month:
14.34 BTC
67.74 LTC
89.6 TRC
30.9 FTC
Total balances after the amounts have been distributed
BTC: 346 accounts with frozen amounts, total 1720 BTC
FTC: 42 accounts with frozen amounts, total 152,075 FTC
LTC: 2432 accounts with frozen amounts, total 124,917 LTC
TRC: 77 accounts with frozen amounts, total 127,746 TRC
Update
We will regularly publish updates here on the number of accounts affected
All in all a bit over 90,000 registered users and accounts. Due to the above freeze and the subsequent distribution of the available funds, a large number of accounts have been restored to their rightfull account balance, some unfortunately remain frozen for the time being and will over time be released as and when funds become available. Here the number of accounts with frozen balances:
As of 25. March 2014:
BTC: 355 accounts
FTC: 42 accounts
LTC: 2,563 accounts
TRC: 77 accounts
Announcement
In preparation of the following, we have with immediate effect stopped the possibilities to withdraw BTC, LTC, FTC and TRC. All incoming deposits will also not be credited to the users accounts for the time being.
On 24th March 2014 we will be freezing the current BTC, LTC, TRC and FTC accounts, then perform the below distribution of the available coins and reenable deposits and withdrawals. This action will also require us to delete all open sell orders for BTC, LTC, FTC and TRC.
As you may very well be aware, we had two incidents last year that lead to a loss of a significant number of BTC, LTC, FTC, TRC. We had communicated at that time that we will be covering those losses from our income, which we have done so far. We had enough coin balances in our cold wallet to upkeep our platform and the positive cashflow enabled us to gradually refill the wallets.
Unfortunately we had large fund withdrawals in the last weeks which have lead to a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out a solution that allows the exchange to continue to operate and gradually pay back the losses.
We have obviously chosen the later and hence are going to do the following:
1. We will introduce an additional balance type called "Frozen Funds". Funds in this balance type cannot be used to trade or withdraw. Those are the balances that the exchange will gradually pay back and hence transfer back to the available balance over time.
2. We will move all current balances for BTC, LTC, TRC and FTC to the "Frozen Balance", i.e. your balance will be set to 0.
3. We'll take the current available cold storage balance and distribute it based on the below described distribution logic.
4. Monthly we will take the net profit of the exhchange and credit back that amount distributed to the users based on the described distribution logic.
The freezing of the balances is a one-time action, it does not affect future deposits in any ways.
Distribution logic
50% of the amount will be distributed top down and the other 50% will be distributed bottom up.
Top down means: credit the amount from the largest account balance down to the smaller accounts Bottom up: credit the amount from the smallest account balance to the larger accounts.
Example
User 1: 5 BTC
User 2: 4 BTC
User 3: 3 BTC
User 4: 3 BTC
User 5: 3 BTC
User 6: 3 BTC
User 7: 1 BTC
Amount to distribute: 12 BTC:
Step 1: Top down distribute 6 BTC:
User 1: Credit 5 BTC
User 2: Credit 1 BTC, remaining frozen balance = 3 BTC
Step 2: Bottom up distribute 6 BTC:
User 7: Credit 1 BTC
User 6: Credit 3 BTC
User 5: Credit 2 BTC, remaining frozen balance = 1 BTC
This approach has the advantages that
all users will eventually receive their funds, though the timeframe depends on the monthly volume available
new deposits and users are not penalized, thus supporting the ongoing operations of the platform
fund withdrawals from the available funds are guaranteed, no surprises or unecessary delays
We believe that this is the best way forward and hope for your support and understanding.
link
https://vircurex.com/welcome/ann_reserved.html 
