BTC-E's Server Wallet just sent 485,000 ETH... It receieved 2 cents of ETH, withdrew 2 cents of ETH, then sent $99,000,000 of ETH(485K ETH). Are we losing our coins?

in #bitcoin7 years ago (edited)


If you examine this link it shows that 6 hours ago 485,000 ETH was withdrawn from the BTC-E wallet.

I think it is all gone now guys. No idea what is going to happen. All of the ETH looks like it was just withdrawn from BTC-E official ETH wallet...

Did the govt seize it and maybe we will get it back?

We may never know because it will likely get bogged down for years before anything results from it... Ugh.. lost like 4 ETH.... :(

More info from CNBC report earlier today

Feel free to re-steem to spread awareness. This is something I just noticed while doing some digging.



I had over 7 ether on BTC-e and I kept it there because it was much easier to switch between fiat (USD) and crypto and they only charged a 0.2% fee.

I recall seeing the buy volume and sell volume being between $80 and 90 million during the day. This means they traded the entire volume of BTC over. What's just as concerning about the loss of the ETH is the amount of people who had USD and real money on the site. Combine the volume of BTC, LTC, and other coins, you could easily say the site hosted upwards of $1 billion. If they only took 0.2% of what was on the site, they could easily pay off the fines they are being charged for in this money laundering charge.

Okay, I realize my math is wrong. For Vinnik to pay his fines ($100M) it would take 1%. Who knows what Vinnik truly gained if he truly was involved in the laundering of MT Gox funds.

So they probably had a daily trade volume of a billion USD you are saying, and likely had tens of billions eh?

No, I'm saying there was a billion worth of cash and crypto sitting on the site in buy orders, sell orders, and idle wallets. I don't recall what their trade volumes were per day, but when the markets were volatile you'd see $100,000 buy and sell walls get knocked down in minutes. Seems reasonable to assume the coins flipped back and forth totaling $500 million a day. You actually take .4% of that since both buyer and seller pay fees. So they were gaining $2M a day minus the upkeep of the site and any security.

Vinnik will easily pay his way out of jail, unless they actually sieze his cash

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I knew this 'no fee' thing was too good to be true. Sketchy operation, should've seen it coming. Live and learn

BTC-E is known to be shady, but at the same time theres a lot of shady stuff going on all over right now.

Have you used Btc-E? It was a very well designed site. Aside from the lack of information behind the site, I found it to be very reliable over the past 2 years.

Yes I have used them for 5 or 6 years I think. I can't remember lol. They never seemed to do anything shady before tbh

I havent used BTC-E since before cryptsy went down, but back then they had the same kind of problems polo has where you ant send out certain coins, and other times when things wouldnt make it in and out of the walletsquick enough to do any cross exchange trades

Did they ever keep your coins or anything? I never had anything bad happen with them. It is all very odd.

nope, but I looked into it and they were siezed by the SEEC today. I just posted an article about it. You should totally give it a read #UpVotePlz

I feel like theres going to be a lot of money disappearing very soon because of the BTC fork

Instead of money disappearing, there is free money to be had (if you know how to play it right). Checkout my post about how to get free money out of the potential fork :

oh exactly bro, you're totally right, I bought up waves and steem during the dip

Yes it is going to be crazy unfortunately... :(

I upvoted ya, appreciate if you could re-steem and help spread the word

Resteemed and upvoted!👌🐸

In which country is this, please? :O

The exchange I am talking about is BTC-E. Apparently the US govt seized their servers because the servers were setup in the USA.

@truthforce got you a $1.86 @minnowbooster upgoat, nice!
@truthforce got you a $1.86 @minnowbooster upgoat, nice! (Image:

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