ALERT - Openledger Has Locked up Steem and SBD

in steempeak •  8 months ago 

Greetings Steemians,

It's recently come to my attention that Openledger has locked up nearly 900,000 Steem and nearly 178,000 SBD.


The announcement that Steem and SBD would no longer be transferable in or out dropped on August 06, 2019 from Openledger.

Per their response to @kingscrown (who is being impacted by this) Here is what they had to say:

STEEM/SBD gateway was disabled on our trading platform following the announcement made on August 06, 2019. Withdrawals of this coin are no longer available and all remaining ​STEEM/SBD balances of OpenLedger DEX users have been archived.
We dump underperforming coins to better serve our customers and ensure the fastest possible speed of transactions. We fully stop supporting such coins in the pre-announced time.
We understand your discontent, but we cannot assist you with this issue. We will be happy to assist you with any other issues you may have.

Here is an embedded link to @kingscrown's post outlining the comprehensive details.

@abit Also dropped a post in regards to this, and as can be viewed in the comments, this has also impacted the Scorum community as talked about by @tuck-fheman.

@blocktrades is advising users in the comments to remove any assets that you are able to remove. There is enough evidence to suggest this is a flat out scam. They have no right to hold peoples assets and claim that there is nothing they can do.


Please remove your funds immediately if you have any that Openledger is allowing for removal.

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Wow, WTF a stock photo on the staff page?

Crazy af..

  ·  8 months ago (edited)

Hey @futuremind 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 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 could 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.

This is so awful. I'm sorry you were also a victim of this obvious usurious practice they are employing.

With so many people in this world struggling to put food on the table for their family, and many relying on the hard work they are putting in with crypto to build a future for their family and children, it is absolutely gut wrenching to know there are people in this world who have no qualms about taking advantage and stealing from others.

Thank you for sharing the sceenshots to help raise awareness. This post is also going to trending as a revised version with one of the abuse fighting teams here if you would like to share these screenshots there as well.

I hope you and the family have been doing well @khimgoh.

  ·  8 months ago (edited)

Hey @futuremind of course anything to get these thieves and scum of the earth to return the tokens to the rightful owners. They are seriously so greedy and absolutely without any integrity at all. People trusted them to put their assets there to trade and this is what they do!

Such despicable people there are in OL. even earning that 10% is completely dishonest. I think that is their module operandi.


Done it! I really hope Steemians get their STEEM and SBD back!

Posted using Partiko Android

Sadly yes :(

I tried to withdraw open.EOS from them like 2 weeks ago. The transaction failed twice, after contacting support the first time they returned the funds to my wallet(why not just process the transaction?). After 10 days the funds had finally been sent to Steem Engine. I said that day I would never go back. In their support responses, their answers were contradictive, and responses were days apart.
Once the funds were finally withdrawn, on top of the BTS fee to withdraw the funds, I was also charged 0.7 EOS for withdrawal, hardly worth it when I only had 1.6 EOS to start with. Luckily that was the only token I had that was associated with openledger. Glad to see others are being warned about their practices.

Funny how you cannot withdraw funds, yet it is still listed in their Market.


Opeledger is literally stealing people's money.

Yeah man, what they are doing is literal stealing, no other way to look at it. How can they not give people their assets back and think it's ok?

I'm glad you were able to get the little bit out that you did have in there, even with it being a headache and exorbitant fee ugh.. such bs..

Thanks for stopping by, hopefully this post will raise some awareness. This post revised a bit is also going to trending to raise awareness.

Man, that is wrong. It sounds like a bunch of people just got jacked for their Steem. That response comes off as a thinly coated "your shit out of luck" too.

Oh yes, utter bullshit.

we cannot assist you with this issue.

It's sickening and very upsetting. The types who pull this kind of scam are scum of the earth. It literally turns my stomach. People are busting their asses to get by, and meanwhile we have to worry about being scammed around every corner of the internet.
Luckily I did not have any funds in there, but my heart goes out to those who are getting robbed.


This type of thing gives the whole crypto cummunity a bad image. Those of us who want to see long term success here know that we need some level of acceptance adoption by the general public but that will never happen with this kind of stuff going on.

Indeed, this definitely has a negative impact with people looking to get involved with crypto.

On a positive note, (and it's still not really positive at all) this tends to happen with 3rd party handlers of crypto more often than not, and not directly on chains. Steem has a good reputation at this point with being an environment where you can confidently know your funds are safe as long as your keys are safe (I tell everyone to never keep the master password on an internet connected machine, and keep a few backups, because master key can change all keys, and is the only key with this authority. Phishing attempts happen and get people sometimes.)

This is why I don't keep any funds on exchanges, and really, I am all Steem anyway, so.. No interest in exchanges except for maybe some low level trading in the future.

That's insane. If it's just "underperforming" it should be no sweat to them to allow our little 💩 coin to just be transferred off the exchange. Wouldn't be losing anything they weren't about to "dump," right?


I'm grateful for Binance, it's my one place to buy or sell STEEM (unless it's just going straight to Monsters.) But yeah, we should all be advised to avoid keeping stuff in exchanges.

lol @ little 💩 coin haha

Yeah, it's ridiculous, and Steem might be underperforming in "value", but not compared to some coins out there worth 0.00001 , and in terms of blockchain transactions, our performance is still very healthy.

Binance is the only exchange that I've used for larger transactions, and I must say, it's absolutely my favorite. I love it.

Even Binance has had times in which they were undergoing compliance regulations and had to shut down to certain areas, so it's never wise to keep large sums locked up imo. In terms of keeping crypto on an exchange, I would say a good rule of thumb is similar to the investment tip of "not more than you can afford to lose."

Thank you for your thoughts, hopefully this will help get the word out, and some people will get whatever they are able out of this scam of an exchange.

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900,000 Steem and nearly 178,000 SBD

Well, there's your STEEM BURN, for all the BURN STEEM advocates out there!