While it is highly likely there will be a process for innocent users to try and file a claim to get back their funds, it’s more likely that you’ll still get screwed over if you take a look at what people needed to do to get their funds back from BTC-E.
We can use the BTC-e seizure as an example where the claim process was procedurally complex, with strict and separate deadlines; a mistake, such as assuming the administrative petition would pause the court deadline, could kill the claim. Additionally, the evidentiary burden was immense, requiring claimants to provide extensive on-chain and off-chain documentation to prove both their ownership of specific funds and the legitimate source of those funds. This is further complicated if your funds were privacy coins. There’s also the issue of the valuation of the assets. The DOJ’s position in such cases is often to value the loss based on the cryptocurrency’s USD price at the time of the seizure in 2017, not its significantly higher value years later when the claims were being processed. So even successful claimants would still only get back a fraction of their property’s subsequent worth.
I actually personally lost quite a bit of money on TradeOgre as some community members had said that it was important to support FIRO liquidity on the OG no-KYC exchange and now it’s highly likely that I won’t see this money back.
This is utter garbage. The only real proof you should need is that you control the email address and the 2FA needed for the TradeOgre account.
Reuben, as you already know, I was providing liquidity for Sentinel which had just been added about 3 months before TO went down for the same reason why you were providing liquidity.
Ofc governments want to make the claims process inexorably difficult because there is a saying, “Government will put you at the barrel of a gun to take your money, and will fight you to the death to give it back.” Something like that anyway.
RIP Tradeogre. I for one am very much greatful for whoever from the community put in Firo liquidity there! While I hadn’t used it in the past couple years I haven’t had any problem with it whatsoever.
Really rubs me wrong how it’ll be targetted this way and stay silent for months on end. What about peoples money? Super unprofessional and concerning trend.
“In an interview, Quebec RCMP Sergeant Mathieu Lagarde said police believe TradeOgre was being run by a man in the United States who recently died, adding that no charges were laid against him. Sgt. Lagarde refused to identify the man or provide any details about his death. He added that no other representatives of TradeOgre are known to police.
The RCMP believe the crypto trading activity was global and involved more than 200 different currencies.
Sgt. Lagarde said the RCMP were able to shut down the exchange by getting judicial authorization to seize the electronic infrastructure that allegedly facilitated the trading – computers in Beauharnois, Que., a community southwest of Montreal.
Questions remain about the fate of the cryptocurrency assets.
Sgt. Lagarde said police are considering whether to file an asset-forfeiture application to have the $56-million in cryptocurrency declared as proceeds of crime. “It’s seized but it’s not forfeited yet,” he said.
While the Mounties are contemplating potential Criminal Code charges in the case, there are other laws in play. Police executed the seizure under federal legislation.”
They investigated who he was without any cause for the investigation to start (no charges filled)???
Seized under what reasons what laws?
Another example of how they use their illegal spy arsenal to find who you are and work their way back to find any ““ mistakes “” you made to explain it in the official investigation.
