DXexchange back up, Gyndex may do same

Despite dire warnings from Linden Lab, the Podex, Crossworlds and AnsheX virtual currency exchanges still seem to be operating, with, so far, no ill effects to users.

As a result, DXexchange has decided to resume selling Linden Dollars, pointing to the clause in the Linden Lab Terms of Service that says that changes have 30 days to take effect.

Sjoerd van Essen

Sjoerd van Essen

“At the request of many customers, the team of DXexchange convinced the management to follow these [other] exchanges and still open up until June 7,” CEO Sjoerd van Essen said in an announcement today.

While this is not a permanent solution to the problems that many international users have buying Linden dollars, it does offer some residents time to top up their Linden dollar balances and to find alternate payment options.

Meanwhile, the DXexchange won’t be taking business away from the LindeX, the official Second Life currency exchange, since that’s where they buy their Linden Dollars, said van Essen.

Not everyone is happy with their move, however.

Bart Bockhoudt

Bart Bockhoudt

“Gyndex strongly objects to this and we have asked Linden Lab for clarification,” Gyndex founder and co-owner Bart Bockhoudt told Hypergrid Business. “We think this is unfair competition and Linden Lab needs to make be very clear how the Terms of Service has to be interpreted and act according to it.”

DXexchange is the largest exchange in the Netherlands and Gyndex is the second largest.

Bockhoudt is also the founder of the DXexchange, which  he sold to van Essen in 2010.

“Gyndex will open up again if Linden Lab will not act within a very short notice,” he added.

According to Bockhoudt, there’s currently an unfair playing field in place since some third-party currency exchanges just focus on the currency trading, while others also have a virtual land business.

“Exchanges like Virtuateq, they don’t dare to open up again because they also trade in virtual land,” he said. If they violate the Terms of Service and are kicked out Second Life, they stand to lose their property business as well.

“Exchanges like DXexchange can easily continue to trade Linden Dollars because the business is killed anyway,” he said. “They profit from the weakness of Linden Lab’s management in taking no firm decisions and creating chaos.”

Bockhoudt added that he’s just heard back from Linden Lab on this issue. They said, “We are on it,” he told Hypergrid Business.


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Maria Korolov

Maria Korolov is editor and publisher of Hypergrid Business. She has been a journalist for more than twenty years and has worked for the Chicago Tribune, Reuters, and Computerworld and has reported from over a dozen countries, including Russia and China. Follow me on Twitter @MariaKorolov.

2 Responses

  1. zhochaka@gmail.com' Dave Bell says:

    Since the new interpretation of the regulations has roughly another four months before a grace period expires, it seems crazy for Linden Labs not to use their own 30-day rule. And that doesn’t stop them from looking for a solution. Also, 30 days is plenty short enough for winding up a business.

    So why the rush? One plausible scenario is the discovery of a fraud. The history of the Commerce Team makes incompetence plausible too. One thing I would find really hard to believe: Linden Labs sending out letters saying, “This is why we want you to shut down your business. Don’t tell anyone.”

    Or would they?

  2. joeybhyx@gmail.com' Joe Builder says:

    Big Business don’t make errors on purpose, I`m sure there is a lot going on behind the scenes that know one is aware of not sure they would shoot themselves in the foot. I see a lot of speculation (Rumors) but then again the fat lady didn’t sing yet. There is much more to come, Please stand by 🙂