$17 million in ethereum was withdrawn from a mining pool bearing the name “USITech”

That changed approximately eleven hours ago, following the transfer of 15,651.75234 ETH out of the account:

At the current exchange rate, 15,651.75234 ETH is worth $18,327,344 USD.

The owner of the USITech mining pool account transferred the funds to “0x24BcC9d34d3b5F5ad2d8Aa944dB4aa7FFeB8b20F”;

From which it was then transferred to “0x876EabF441B2EE5B5b0554Fd502a8E0600950cFa”.

In this Reddit thread from about a month ago, “0x876EabF441B2EE5B5b0554Fd502a8E0600950cFa” is identified as a “hotwallet” account belonging to the Bitfinex exchange.

What happened to the $18.3 million after it entered the Bitfinex exchange is unclear. Such is the nature of cryptocurrency.

What I can tell you though is, in light of the announcement earlier today, the money isn’t going to be put toward paying affiliates what USI-Tech has represented they’ve earned.

Finally USI-Tech also released their upcoming TechCoin whitepaper.

From the looks of it, TechCoin is being put together by some Indian dev firm on the cheap.