to what end? we can surmise they only have a small fraction of outstanding liabilities on deposit. and these guys are set up just like btc-e was---shell companies and servers in multiple jurisdictions, operated from russia ostensibly, registered in the UK, infrastructure in the USA. you really think you could find/sue these people and then actually collect?

i agree re the theory. i suspect several of these rinky-dink exchanges like livecoin are running fractional reserves.