Open Ledger DEX has closed all activities

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.

2 Likes

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.

1 Like

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.

1 Like

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

1 Like

Wow. $28 million in Bitcoin?! I just hope they still have it all. If they’ve sold it, then we are SOL.

1 Like

I also had a significant amount of bitcoin assets on openledger.io that now I cannot access. I do not recall seeing any notification from them that they were shutting down activities.

Please include me in any class action lawsuits to retrieve funds.

1 Like

They posted it on some Blog of theirs but only for a month before they closed it down. They made no attempt to email folks, even though they had my email, and they did not publicize it any farther. We can only hope that they still have the tokens and haven’t sold them, but I don’t think that has been confirmed and that concerns me. Not sure what it will take for them to reopen withdrawals, but the fact that the value of all that they hold is going up and there is more and more activity in cryptos might help.

1 Like

It might be a scam. For instance something similar just happened with a Turkish crypto exchange platform which has been labelled outright as a scam.

You can read about it here:

1 Like

If I correctly calculate, only from the ETH and the MAID they hold ther are $ 13 million. Pretty well paid scam…


Privacy. Security. Freedom

The main man and CEO, Ronny Boesing continues to do business in the field, and seems reputable, so that gives me some hope. He’s not a fly by night nobody.

He’s got a fairly up to date LinkedIn page and this YouTube video: VPLedger SaaS Blockchain with its GiG Economy Freelancer Exchange OpenLedger explained - YouTube

And this Telegram Group where I just asked him about Open Ledger: Telegram: Contact @eDEV_OnlineDEV

And a website at: openledger.info/

1 Like

I guess you’ve heard of OneCoin and the Crypto Queen Ruja Ignatova? Before she disappeared, she was also quite a public figure. Fraudsters often use the money from one scam to make the next one even bigger…

This man has no excuse to keep $ 13 million that is not his. He can put a 1-2% fee and return the money to the people immediately. But he doesn’t want to.


Privacy. Security. Freedom

2 Likes

Well, here’s some news, but it’s not good. I sent Ronny Boesing a Telegram message and he repled with this:

Hello, I am sorry, but matters are somewhat complicated now. OPENLEDGER bankruptcy procedure has begun, CVR. No. 35809171.

On the base of a decree by the Danish court on 27.01.2021, OpenLedger ApS has been declared under bankruptcy processing, and the lawyer Soren Aamann Jensen of Kromann Reumert has been appointed curator of the bankruptcy in question.

If you have any questions, please contact curator for the following (https://datacvr.virk.dk/data/visenhed?enhedstype=virksomhed&id=35809171&soeg=35%2080%2091%2071&language=da).

Because of above decree, I am unable to discuss anything related to OpenLedger and ask you if necessary to connect directly to the curator.

2 Likes

I pressed him further by asking this:

Thanks for replying, but that doesn’t sound good for the hundreds of us who have maybe millions of dollars “archived” on Open Ledger. If only I had been notified about my MAID Gateway being disabled by something more than an obscure Blog Post, I would have withdrawn it in time. Please do the right thing and try to return all of our funds. I hope that our funds are still on the blockchain and have not been sold and that the curator will recognize this and make sure the archived funds are returned to their rightful owners. Thanks and good luck. Any timeline on how soon the court will process things?

He replied:
Ronny Boesing, [27.04.21 08:32]
maid is long time gone, and was fully informed about it also at the the time of delisting. There is no talk whatsoever about maid.

Ronny Boesing, [27.04.21 08:33]
i cannot say anything more here, but felt u needed reply. the other channel has nothnign to do with the dex

I replied:
Gone, as in OpenLedger sold my MAID and took the money?! Please say it isn’t so. That money was very important to me. Is there nothing I can do? The tokens are still on the blockchain. Why can I not retrieve them?

He replied:
Ronny Boesing, [27.04.21 08:45]
Personally i have No idea What has happened except i know at the time from devs that it was delisted. I am Sorry, But its out of my hands now

I tried one last time:
Okay, thanks for replying, but delisted does not necessarily mean sold and confiscated, does it? So the tokens still exist and every effort should be made to return them to their rightful owners. Thanks.

No reply.

I am afraid our MAID tokens and other thousands of tokens representing maybe millions of dollars that were on OpenLedger have been liquidated and the proceeds will be given to Open Ledger creditors.

2 Likes

I would have thought coin holders are creditors, so while him saying the MAID is gone may be true, a claim against at least the original value would seem valid. I guess anyone affected should look into what basis their claim would be valued and decide whether it is worth making a claim, also considering what assets remain to be disposed of. If the assets do include crypto then this could be substantial, if not it may well be too little to be worth claiming.

I suggest contacting the liquidators to explore the situation.

2 Likes

Yes, I agree. Even if the tokens have been liquidated, we should be able to make a claim. I just worry that in bankruptcy proceedings, one can only expect to get back pennies on the dollar. But if the tokens haven’t been sold or liquidated, then the court may find a way to get them back to us. Thanks!

3 Likes