Open Ledger DEX has closed all activities

Doesn’t look like I can send my MAID, trade it or convert it. Oh well, it’s nice to see it still there. Why oh why didn’t Open Ledger just give us time and let us move it?

I still had bitshares and could trade it for BTC. I also had some open EOS. The open stuff you can try to trade, but is worth hardly anything. After trading it to btc you can withdraw it. I can’t find others that got effected. Bitshares has a telegram and discord channel. I looked there as well. It has like one or two people ranting,

Hi, @Widestrides
I appear to be in a similar situation to you regarding Open Ledger. Have you heard of any class action suits or legal actions taking place against them? If so i would like to contribute.

I have been in direct contant with Ronny on LinkedIn. He urged me to mail the support team of OL, but it is obvious that the exitscam is fully executed.

I hope to hear from you… we can set up contact elsewhere if it is of any interest

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I had a $1000 in EOS coins there as well, this Ronny is a scammer.

I haven’t heard of any class action suits or legal action taking place against Open Ledger yet. I’m surprised there is nothing going on considering how many folks must have money tied up there. It’s great that you at least got through to Ronny, but discouraging that he just passed you off to Support. I got nowhere with Support, although they at least gave me feedback for awhile before getting tired of me persisting. The whole thing is very unethical. Let Ronny know that guys like us have thousands of dollars tied up or lost. They didn’t give us proper notice or time to withdraw our funds. GL to us all.

When there is a class action suit, please add me to the list. We should start a petition and take some actionable steps as it is probably the only way we will ever see our funds again. There is clear and traceable malfeasance here, [Redacted - Admin]

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How much would you guess they have run off with, or are at least holding hostage? I would think it is in the millions, but maybe I overestimate how many customers they had. And what would be their most valuable holdings that they are holding hostage? EOS?

I have 20,000 MAID worth about $3,000 USD tied up there.

I would certainly estimate it’s in the millions. I would guess they are waiting for the heat to die down and then they will transfer the underlying assets of their custodial open. tokens to regular MAID, etc. token wallets. If they haven’t already done this, leaving behind just the open. token shells.

I feel dumb for having fallen for such a blatant shell game: “I’ll give you open.X if you store you tokens Y on a platform which I control (at least to which I control withdrawls and deposits … but which I am calling a decentralized exchange).”

Ugh, I have more than you do tied in there. At least I can look at it.

Until they move your coins, we can’t be sure if they’re a failed business or a scam. Sometimes good people do business that fails…

So, we can confirm that our tokens have not been sold?

That’s some hope. I was expecting they might be long gone.

I mean really, how hard would it be to just let us have our tokens?

I’d also love to know if the tokens I deposited are still in the account.

Why would a failed business not be transparent (with evidence, not just more promises) about such a basic and important issue.

Idea for taking action: First, we need to identify from whom we need to demand this info, second, we need to ask, and third, we need to see what legal options we have … since this is obliviously a Denmark-based business and international laws apply.

What do you think? I am sure there are other token-communities interested in such a line of inquiry, beyond the MAID community.

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Here is a Reddit thread where a guy is trying to organize litigation against OpenLedger:

They do say this in their April 25, 2020 closing statement here: https://dex.openledger.io/news/ol-dex-is-closing-all-activities/

“All OPEN assets are in their own creation an “I owe you” (IOU) and they will never disappear on the blockchain, and will not be frozen, and are therefore left to be redeemed whenever possible if this opportunity should become a reality.”

and

“the OPEN assets will stay as an active asset and a reminder of what is owed. To clarify the meaning of an IOU.”

and

“the OPEN asset holder may send us your email, full name, and account of the BitShares network to: support@openledger.io to ensure future way of contacting you.”

So, there is some hope that they have not sold our tokens and taken the cash and run.

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Sorry if this isn’t the right place to ask, but I’m a bit lost with all of the OpenLedger issues. I had CVN (Crypviser) tokens stored on OpenLedger, and I had a local file stored on my computer. I was able to use that file to log into the RuDEX exchange that was linked here, and can see my coins still there. I can exchange the CVN for BTS, and then the BTS for BTC, but I don’t have anything in the wallet other than CVN so I can’t pay the fees that RuDEX charges. The exchange rate for CVN to BTS is also extremely low compared to it’s current price, so I have two questions:

Is there any way to access my coins and send them to a different wallet, since I have the local file still? I’d prefer to keep the CVN rather than convert it to BTS at a massive discount if at all possible, and I’ve found an exchange that allows me to send the CVN to it (Sistemkoin) but I have no way of sending the CVN from RuDEX to Sistemkoin.

I’m not completely technically challenged but am by no means well versed on this subject, so apologies if my explanations don’t make sense. Ultimately I’m curious if there’s anyway to access my CVN and transfer it to Sistemkoin with another exchange or an app. Or is RuDEX currently the only way to access any old Bitshares accounts?

Thanks in advance, what a mess!

It seems that you have been able to confirm that your tokens are still on the blockchain, so that is nice to know, that OpenLedger hasn’t sold everything and taken the money and run. I’m really happy to hear that. Thanks! I don’t understand why it was so hard to keep things open and do a better job of letting folks know they were closing shop. So maybe there is hope that one day they will open up again. Thanks! Sorry, I cannot help you with RuDEX. My tokens are not showing there, if I even got into the proper place. GL!

Hello!
Just wondering, were you able to get any sort of traction with regards to your assets that are stuck on OpenLedger?

I also have crypto stuck on OpenLedger and would appreciate any help/guidance on what to do.

I saw a few posts on reddit where a case/lawsuit against Ronny Boesing was in the works but not entirely sure if that’s still proceeding or if it just faded away.

Thanks.

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No, I’m just waiting and hoping. Nice to hear that there is a lawsuit pending. I figured there were probably some folks out there with a lot of money stuck there and they would lead the charge and hopefully force them to open it back up for withdrawals for all.

I did send my contact info to support@openledger.io just in case they want to alert us to any opportunity to withdraw our cryptos.

Do you have a link to the Reddit thread? I’ll try to find it myself. It may be the one I am already following.

Oh ok. Yea, I think that’s as much we can do for now.
I’ll probably try sending an email as well. Doesn’t hurt to do so, I suppose.
As for the reddit thread, it’s the following:

It might be the same one you’re already following.

This exchange has also kept my MAID. I have access to my .bin file but I don’t think much can be done with that. I’m very interested in a class action if no solutions are available.

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I have the same problem with BitShares Open assets. They gave us about 3-4 weeks notice to move our coins before they were stuck. It looks like there are 551,035 open.MAID stuck. They also have 486 BTC worth $28 million dollars right now. There should be a lawsuit.

https://wallet.bitshares.org/#/asset/OPEN.MAID

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