OpenLedger disabled STEEM/SBD withdrawal

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(Edited)

UPDATE(2019-10-11): I got back my STEEM. Thanks to @oflyhigh and all people who helped.

OpenLedger disabled STEEM/SBD withdrawal without even an announcement on steemit.com. It seems they've emptied their wallet.

OpenLedger announced on 6th August on their website that Steem will be delisted and the deadline for customers to withdraw was 19th August. I didn't find a post on Steemit.com .

Background: @kingscrown told me that he's unable to trade nor withdraw his OPEN.STEEM . I asked @oflyhigh to help me withdraw my OPEN.STEEM tokens to the Steem blockchain, didn't succeed. I contacted Ronny and got an answer that he will perhaps connect me with his "dex product owner".

openledger steem sbd
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62 comments
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wtf? lol

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almost never use openledger myself but really wonder what happened

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Were they hacked?

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Openledger has history of ridding people of their coins subtely.

During the EOS mainchain launch, OL said it was okay to keep our EOS with them if we weren't sure of how to create the EOS genesis wallet on our own. I decided to leave my EOS on openledger.

After the EOS mainchain went live, some tokens (A lot of tokens) were distributed as incentives to EOS token holders, and OL kept it all to themself. At the time, a lot of users complained because they didn't include this when they announced it was okay to leave our EOS with them, just like they've now decided to delist and disable Steem and sbd within such a short time frame without letting the entire Steem community know. Won't be surprised to find that they'd transfer and sell them on the open market someday.

PS: I had some EOS on Binance too because they supported the mainnet swap, and they shared the dividends with users who held EOS.
OL is shitty, and scammy. I wouldn't advise anyone to trust that rogue company. Whatever it is.

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Damn, that's bad thought I still see some BTS there.

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Lol, that is funny.

First golos got destroyed for not staying in line, and now bts is going down.
Poetic.

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xD

do you have some sources for me? :)

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(Edited)

https://pixabay.com/photos/girl-woman-young-playful-female-918417/

ID Deception/Fraud in one of their companies team profile page

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Lol, rogue,...sorry if you had trust in these folks,...

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(Edited)

It is ID Deception/Fraud not ID Theft.

They have not stolen anyone's identity (Identity Theft) but pretended to look as someone they are not with fake photo from photo stock site + considering using fake photo, Miriam Richmond description is likely fake too (which would mean Identity Deception or Identity Fraud).

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(Edited)

I'm starting to think there is no problem. Ronny (OpenLedger CEO) is active now in telegram and doesn't seem to be concerned about a problem. What account do they use for their Steem? Maybe it's related to their plans to transition their business to Vpledger + bad communication on their part.

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Perhaps someone should raise this up there on telegram to know his opinion on the matter.

Posted using Partiko Android

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(Edited)

It looks like he just delists very rapidly and only announces on his own site, even though the assets can be traded generally on other sites, so if you trade on another site, you've just lost your money. As I mention above, looks like I lost $130 USD this way. Could have been a lot more, but I learned my lesson from the last open asset delisting. Looks like those were almost the last open assets I have. Well, I have some OPEN.USDT, I guess I should find out if that's worth anything anymore either...

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Please do find out.

$130 is still something. Losing such amount hurts.

14 days is too short to announce a delisting activity. Some people might not even come online for days. Unless he had a foul intention Cus that's what it looks like to me😐. Why didn't we see such post trend here on steemit so as to notify many steemians on here who, obviously are at the receiving end if things goes sideways🤔...

Sorry for the loss @blocktrades. STEEMon✌

Posted using Partiko Android

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IMHO, even if they have a right to decide about delisting, even if they are not obliged to send you a notice via post/sms/phone and can choose to post on their site, even if they maybe are entitled to liquify all the delisted assets, then still after this action the liquified amount should be considered yours and should be handed out to you - in whatever form they converted it to. Of course, IANAL.

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(Edited)

OpenLedger announced on 6th August on their website that Steem will be delisted and the deadline for customers to withdraw was 19th August. I didn't find a post on Steemit.com .

I contacted Ronny and got an answer that he will perhaps connect me with his "dex product owner".

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(Edited)

His delisting announcements are way too short and he doesn't make them public enough, in my opinion. I got burned on an earlier delisting...After that, I decided it was better not to hold OpenLedger assets.

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Looks like it's going to cost me around $130 USD in SBD and Steem, from OPEN.SBD and OPEN.STEEM. I can see why you refer to it as a scam, somewhat justified, IMO.

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They did this to the Scorum Community in August as well.

On August 6th they post on their feed that they have enabled OPEN.SCR for trading (removing it from maintenance mode) and then later the very same day they post again, this time without SCR/Scorum in the title, that they are delisting tokens and in that list was Scorum.

OLscam.png

Capture.PNG

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Happened to me on another asset as well

Very short notice and then nobody could make any withdrawals at all. After the project talked to the OL guys they agreed to extend the window a few days but everyone had to pay a 10% fee for withdrawals because they had to be done 'manually'

From my understanding a good chunk of the coins belonging to less active holders are still in their hands, and may likely remain so

Is this their official account https://steemit.com/@mtopenledger? Considering they were active until 2 months ago you'd think since they made decision to delist Steem on the 6th of August, they'd give us notice on here as well

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I just withdrew 230 OPEN.USDT, I advise you to do the same for any other open assets you might hold...

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I literally couldn't find this announcement after spending a bit of time googling openledger delisting steem sbd etc.

If almost no one on Steem caught it it's definitely not public enough.

Is this their account https://steemit.com/@mtopenledger ? You'd think seeing as they were active just 2 months ago to shill (roughly when they decided to delist us), they'd also make a delisting announcement on here as well.

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MT Openledger?

Sounds almost too ironically close to Mt. Gox.

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They should have contacted all individuals who hold such assets via e-mails, as well. This is basic communication.
If they have not done so, it was a premeditated move.

Depends how much you all guys lost, it seems like class action lawsuit may be a solution. And depending where the company is based...

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I hope that you didn't lose too much of your funds there...

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Ive read that they ran off with almost a million Steem and 200k SBD....
Is this a legal action from their side? If it is, any exchange could do it like that and keep the money.
Can someone inquire with them directly as to what they intend to do with the money? Can they be sued?

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About 5000+ accounts still have around 300,000 STEEM frozen in OPEN.STEEM asset. I believe it is an issue. At least for users.

https://bts.ai/asset/OPEN.STEEM

I hope that this incident could finally be a good an expensive lesson to think twice about using this gateway.

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I just flagged your comment to position relevant evidence at the top, sorry about that.

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This has been the case for months. Here's a screenshot of a support ticket I opened with OpenLedger several months ago:
Screenshot_2019-09-30 [#15418] open steem withdraw OpenLedger DEX.png
As you can see, their response was basically to say they are "sorry for the inconvenience" but offer no solution.

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My case was different. The same thing is, no solution was offered in my ticket either.

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Hmm, I meant to update the previous post but don't know why it ended up with a new one.

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(Edited)

!thumbup
Lucky that I didn’t have any steems on this exchange.

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is this just for Steem or are you having problems with anything else?

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thanks for mention, i did a longer post on this case on my profile

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Thanks for mention, i
Did a longer post on this
Case on my profile

                 - kingscrown

I'm a bot. I detect haiku.

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This post has been included in the latest edition of The Steem News - a compilation of the key news stories on the Steem blockchain.

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this is not how this space works
for me it's the end of Open Ledger - I will warn everyone about them.

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Hi @abit I dropped this same comment on @kingscrown and @futuremind post about this.

My experience with OL has been horrible too. They really are scammers! In Aug they also issued a two week notice for not supporting AGRS Tokens. The notice period was so short and they didn't even bother to really get the message out there. I got the same exact message too when I sent in a support ticket. They cut and paste for everyone.

So everyone started sending support tickets in and the TauChain Agoras people also keep going back to them to ask for withdrawal for token holders. Finally they responded that they cod assist to manually withdraw but first you got to send your tokens to them and then they will process it and send it to you... Minus a 10% fee on your total number of tokens! They really are the scum of the earth. People should really make it known not to use OL!

EVERYONE JUST SEND IN A SUPPORT TIX YOU MIGHT JUST GET THIS OPTION THAT THEY OFFERED AGRS HOLDERS.

Posted using Partiko Android

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A Blatant scam. Is there any reason why they couldn't automatically send the funds back to the account they were sent to them from originally?

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These guys seem to have balls of steel, thinking they can steal so much from a decentralised source where their victims could appear physically anywhere at any time!

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Dear users of OpenLedger.io platform, traders and crypto-enthusiasts,

In response to requests regarding STEEM and SBD coins delisting and their gateways closure that took place in August 2019, we would like to inform you about the following.

The main function of our trade platform is to provide our customers with high-class service of assets exchange options. As in any other commercial organization, one of the business goals of OpenLedger.io is receipt of profit. Based on the results of the technical and economic audit of gateways performance in the present year, the platform management have decided to shut down six gateways and to stop support of several assets in August 2019. STEEM and SBD were included into the list of gateways and assets planned for disabling.

The announcement about the shutdown of support of these assets was published 6 August, 2019. To inform as many people as possible and to give our customers sufficient time for the specified assets withdrawal, the announcement was published on all our official channels of communication. Our official channels of communication include Telegram, Twitter, Discord, News block on the trade platform OpenLedger.io, Reddit and our news Blog. Asset users were granted 14 days to withdraw the specified assets.

We would like to draw your attention to the fact that the procedure of gateways closure and assets support disabling was carried out in full compliance with applicable legislation and Terms of Service, namely paragraph 6 of Terms of Service by OpenLedger:

"OpenLedger may at any time, with or without prior notice to users, remove any Asset from display or accessibility through its Platform for any business or regulatory reason that it may deem appropriate."

Actions, such as gateway shutdown or asset support disabling, are commonly used and are often practiced by decentralized and centralized trading platforms. After full stop of a gateway support, trading platforms do not allow withdrawal of removed coins if such a request is made outside of the time officially given for withdrawal.

Being a customer-centered company, OpenLedger puts its clients interests first, solving all requests individually with each customer contacting Customer Service, and does its best to act in full respect of customer needs and values.

Best regards,
OpenLedger Team

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Hi, @abit, please how did you resolve it with OpenLedger? I also missed the announcement and didn't withdraw.

I made a support ticket and they offered sending me BTC after converting my STEEM and SBD using Coinmarketcap prices, which are very off.

They are refusing sending me the actual coins, and don't want to use the prices of eg Bittrex where I would be able to buy back the coins (with a loss)

Posted using Steeve, an AI-powered Steem interface

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This was the beginning of trading tricks back in the days.

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