DIBCOIN (DIBC) was originally developed for use by Sunshine Capital, Inc (SCNP) as a digital currency backed by shares of stock owned by that company. The launch of the DIBC project was viewed as a huge success. However, the Securities and Exchange Commission (SEC) suspended trading in the securities of SCNP in April of 2017. The suspension was because of questions regarding the accuracy of assertions by SCNP in press releases to investors. Those questions included assertions by SCNP concerning “the liquidity and value of the company’s assets, namely DIBCOINS, a cryptocurrency”. At the request of several principals in associated companies, deposits and withdrawals were frozen. Subsequently, withdrawals were permitted. Nevertheless, despite the suspension of trading of SCNP shares on the OTC markets and the continued freeze on deposits, DIBCOIN increased in value and retained viability as a monetary instrument that could be used to acquire other companies.
On March 2, 2018, Livecoin Exchange lifted the freeze and enabled deposits of DIBC. In other words, DIBC resumed full trading on that exchange on that date. Within minutes, the value of DIBC plunged rapidly. Wisely, trading was halted to stop the bleeding until the cause of the crash could be determined.
DIBCOIN is pleased to announce that the problem has been resolved, and the process of restoration of losses to legitimate traders in DIBC has begun. Therefore, all DIBC held on Livecoin Exchange prior to enabling deposit on Friday, March 2, 2017 will be swapped for 1:50 or 1 (one) current(old) DIBC for 50 of the new upgraded DIBCOIN v2.
DIBCOIN purchased when deposits were enabled will be swapped 1:1 (one to one) or for each old DIBCOIN purchased on re-opening day you will get one new upgraded DIBCOIN v2.
All DIBCOIN deposits made on March 2, 2017 up till the trading halt, are not eligible for the swap.
Nonetheless, those investors who have held their DIBCOIN on Livecoin up until that point will not have to do anything. Livecoin will facilitate the swap on behalf of the company. However, patience is required by all investors while Livecoin progresses through their swap process.
The first step for management is to redeem the DIBCOINS traded on Livecoin so that shareholders can go on to trade normally with no restrictions.
The second step will be to redeem DIBCOIN held in the Omni Wallet. However, due to the high volume of DIBCOINS held on Omni, the company itself will take extremely calculated measures to ensure that proper credits are given to original owners of DIBCOIN and not to suspected hackers and their associates. This can take some time. But rest assured that if you have earned or purchased DIBCOIN legitimately, you will receive redemption. The final ratios for DIBCOINS held on Omni have not been sorted out yet due to the mingling of stolen DIBCOINS on the platform. It will happen.
Information related to the swap for DIBCOIN holders on Omni will be announced publicly once the swap for Livecoin has been completed. Please understand that all new wallets created from 11/29/17 (November 29, 2017) up until the swap time will be considered fraudulent. Any transfer of DIBCOINS from wallet to wallet at this critical time will also be considered fraudulent. We suggest that the community cease from all transactions of DIBCOIN immediately in order to avoid having your address flagged.
The previous management group, DIB Funding has control over the web wallet https://dibex.us. Our account was locked and permanently excluded from that wallet and we were denied access to our coins after our separation from SCNP and DIB Funding. To this present day, we have no access to our coins which are held in that web wallet. So therefore, DIBCOIN held in the DIB wallet is deemed stolen and not eligible for the swap. If you held coins in the DIB Funding web wallet, you will need to contact that company for reimbursement or access to your funds. The legitimate owners of DIBCOIN were confirmed on February 6, 2018, the day USPTO registered DIBCOIN trade mark to its rightful owner. Any questions or concerns related to coins held in DIB wallets will need to be addressed to the either SCNP or DIB Funding.
The DIBCOIN team will provide further updates as they become available. We would like to say that we appreciate the shareholders’ patience while we are going through this transformation. Please understand that we are working as fast as we can with the swap so that we can resume trading on Livecoin.
Company site: https://dibcoin.io.
All concern and question can be sent to email@example.com.
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