Let me start by introducing myself. I started working for Litecoinlocal in January 2014, and despite the poor working conditions, I've stuck with the site ever since. The website underwent significant changes in 2014, thanks to the dedicated efforts of the Litecoinlocal team. However, all my co-workers have quit over time, leaving me as Litecoinlocal.org's only employee.
These other employees left mainly because the longtime owner (known as skinnkavaj on freenode IRC or dennishaggblom) has continued to request new features for the site while offering little to no payment for these new features. For example, I have been a shareholder since April 2014, but to this date I have not received 1 satoshi of site revenue.
A couple days ago, the old owner posted a Reddit thread announcing that Litecoinlocal was closing down for good. This was done without consulting me (or anyone else for that matter) and I received zero compensation. This left me with a choice. I could cut my losses and allow one aggrieved man to nullify the efforts of all past Litecoinlocal coders, the efforts of all our vendors, and above all rob the Litecoin community of a core tool for fiat exchange; or I could, with the help of my friend and former Litecoinlocal co-developer Someguy123 revive the site.
In the future we plan to be more transparent; we will make our cold storage addresses publicly visible and we will sign important communications with these addresses. We are now more secure than ever before, taking maximum precautions to ensure the safety of our server and hot wallet. Lastly we will be more accessible. You can contact me directly at [email protected], or the Litecoin specialist at [email protected]
Litecoinlocal is back, and it's faster and better than ever, but things aren't exactly as they were. All user balances have been set to zero and any incomplete trades have been cancelled. In his Reddit post, the original owner of Litecoinlocal.org claimed that he would repay all 'top sellers' for lost Litecoins. If you had money in Litecoinlocal.org, you must contact him as he is the only one with access to the cold storage for the old site. In addition to this, the exchange has been disabled. We are open to suggestions for new features, but the main focus of the site is not the exchange of Litecoins into other crypto-currencies.
I want to thank all our users, especially our dedicated Litecoin buyers and sellers. Without you, we would not be able to continue hosting the site. I also want to thank the Litecoin Association as well as the users and staff of r/litecoin and Litecointalk.org for bearing with us during this stressful time.
We will be in touch,
© 2014 Litecoinlocal.net
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