What happened to my RENBTC?

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What happened to my RENBTC?

I used eth to buy some renbtc at par with btc in my mew wallet. This was some time ago. Today I swapped it back to eth because it was trading at 25% of btc.

I thought there was one btc locked on the eth network for every ren btc. What happened to three quarters of the btc?

submitted by /u/Polycold
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