BTC-e owners are OK and they are making money. LOL
If the haircut is 55%, then I think the admins are making good money, and setting up a retirement fund for themselves. Interesting find with Exmo. I suppose it's not conclusive, but it's close enough.
One thing I don't get.... why run BTC-e, and Exmo, and xBTCe, and...?
55% is suspciously clean.. i.e just a bit over half. Admins mush be keeping a war chest of funds.