We've received a lot of support tickets from customers who are asking us to pay them their NewYorkcoin balances. We always want to pay debts as soon as possible, but in this case the exchange Yobit has "locked" its wallet, preventing us from withdrawing our money to pay you. My understanding is that Yobit expects the NewYorkcoin developers to either reimburse them or to take some other sort of action in regards to some sort of attack that cost them money.
Whatever losses Yobit incurred are Yobit's problem and are not of concern to our customers.
I wanted to make a post that it is Prohashing's expectation that Yobit unlock its wallet immediately and allow withdrawals of NewYorkcoins, while concurrently negotiating with developers if they wish to do so. The amount of time their wallet has been locked has crossed the threshold from poor customer service to negligence, and is close to the length of time that can be considered theft. If Yobit wishes to discontinue offering NewYorkcoins, then they must allow withdrawals and delist the coin. If Yobit is insolvent because of whatever happened to them, then they should cease operations and declare bankruptcy, as it is illegal to offer trading of any coin in the United States while being unable to pay out all balances.
If you are owed NewYorkcoins, please submit a support ticket to Yobit and request that they unlock their wallet immediately to allow withdrawals. Feel free to reference this post in your ticket. Do not submit a support ticket to us; we cannot help you and the system will automatically detect when the wallet has been unlocked. I have also begun publicizing this issue to social media sites to draw more attention to Yobit's inaction and potential solvency crisis. If no action is taken by February 8, I will file a police report for theft.
Last edited by Steve Sokolowski on Sat Feb 02, 2019 10:56 am, edited 2 times in total.
If yobit were to declare chap-11, how would that affect the pool?
How many coins would be nixed off the system due to yobit being the only place left that deals with that particular coin?
I think Yobit was one of the largest exchanges we used. But since this incident, there is a price premium placed on them to avoid trading there unless absolutely necessary, causing a decline in their business and an increase in trades at other exchanges.
Unfortunately, we can't exchange coins upon user request due to money transmission laws.