Topic: BIPS, Payment Service Provider (PSP) for Merchants - page 2. (Read 75403 times)

I wonder if ghengis had any response to his letter to them?

I'm thinking of sounding out a Danish lawyer regarding dealing with this matter as a theft of "an asset with a publically recognised value", and holding BIPS accountable for the value they were storing, regardless of whether it was a business model for them.

I don't know the names of those involved in this theft, or how many of you there are.  Perhaps PM me if you're involved.  However I think ghengis has all these details.

this bips people had weeks without answer my enquiries by their support site. anyone has got in touch with them lately?

True that the longer your here the more suspicious and protective you become  

It would offer an opportunity at reimbursement...  mostly wishful thinking though.

I would like to see some action taken by BIPS but I think it's highly unlikely unless lawyers & courts etc are involved. 

I probably lost the most BTC (through naively trusting them more than a local wallet at home.  I lost a lot more than 100 BTC, which is very embarrassing (& hugely expensive for me).   I invested when BTC was about $20.

I'm in favour of exploring the legal options, although because of the lack of a legal framework around BTC, even a legal approach may be completely pointless.  Of course I'm also in favour of trying other means for some sort of refund.

Sorry. Us earlier folk learned from instawallet. Never trust your private keys to anyone. Blockchain wallet is fine because it decrypts it only locally.

now, I know it... but as other user stated, they specified in their web how saqfe they were. As I say, if you trust therm enogh with your fiat money to exchange it, mades no sense not to trust them your BTC.

now, we all know.

No one keeps Bitcoins at an exchange. Never do that!

I totally agree also. I think they must reimburse all the BTC. We all know BTC is like cash. But, don't you give cash also to a bank and if they loose it is their loose, not yours?

This people has been untransparent in this whole issue and they take forever to answer mails.

The Bitcoins I loose where bought from them directly, so the obvious thing was to keep them in their wallet if I was going to keep them online, I kind of was nonsense to move them to another wallet. If I trusted them to buy is obvious I would trust them to keep them.

I have been exchanging emails with them and the last time they "amused" me with this line: "In your case having actually bought bitcoins from us, that is a little different. Not everyone bought bitcoins from us and many who did, moved those to an external wallet for safe keeping."

Don't you think that this a terrible sentence almost admiting that their wallet was not safe? I refer specifically to this: "...moved those to an external wallet for safe keeping", so that means keeping bitcoin with them was not safe and they knew it?
I find this outrageous!

Their site doesn't even mention the loss?

Totally agree. Now is the time BIPS to buy some BTC and make an offer and maybe that will restore the confidence that I once had in you.

I agree.
I would love to see BIPS do some kind of compromise for it's clients and earn some trust, I am not hoping for a full restoration of the balance before the attack, but a partial compensation would be appropriate  - any suggestions or initiative from BIPS to resolve the case are most welcome.

I've written a message to bips.me today.

Bitcoin is currently plunging in value, and I believe that this now gives this company a change to survive.

As we've discussed, there is NO WAY that bips.me will be able to continue as a viable merchant processor (or with any other function), if it does not reimburse users whose bitcoins were stolen due to poor security in the bips.me wallet.

As I wrote previously, I believe bips.me has two options.

1) Go out of business. Shut down the bips.me website. Possibly, in the future, quietly open with a new domain, brand name, etc.

2) Reimburse users whose bitcoins were stolen in November 2013.

This is an open call to bips.me: The time to save your business by taking step #2 above is NOW. If you lost 1200 bitcoins in the theft, my guess is that less than 600 of these were held by external users. If that estimate is correct, this means you could ensure the survival of your business for less than $250,000.

Please do this, and we'll all wish you well in future endeavors.

The worst thing is that the bitcoins that were in the BIPS wallet were from using their payment processor, so they were my client's bitcoins. Had to paid them their Euros and get nothing in return. Those coins were supposed to be sold to pay them, not with my own pocket.

no refunds, the update below from the 4th basically stated they are not responsable we shouldn't have trusted them to hold any of our coins.

Wallet Status Update
04 December 2013 12:25 AM
We sincerely apologise for the limited information that has been available up to now, but we have not had and are still short of facts to be able to make sufficient thorough official statements.

 

Most of what was recoverable from our servers and backups has now been restored and we are currently working on retrieving more information to get a better understanding of what exactly happened, and most of all what can be done to track down who did it.

 

1295 bitcoins in total were sent to an external wallet by the attackers.

https://blockchain.info/address/1LuG91tcSQxKj32BsCoRkX7yQLfj9LtkCs

Those bitcoins are not retrievable unless we can find the perpetrators and somehow make a demand they return the coins.

The Danish National IT Forensic Police department have agreed to assist us examining what data there is.

 

It appears that in order to file a police report for theft, we may need consent from all affected parties to lodge, as according to the police they can not classify this as a theft due to the current non regulation of bitcoin. We are currently looking in to details surrounding this further, awaiting a response from our lawyers and the police department.

Will there be any reimbursement available?

Please bear in mind that the wallet service was a free service and thus there has been 0 revenue generated from it. Hence BIPS is unable to reimburse bitcoins lost unless the stolen coins are retrieved.

We are discussing the possibility of a compensation plan with our legal advisors, but are unable to comment further on this for now.



Practical information:

 
There are a few account holders who have a small balance of bitcoins in their wallets after the attack. Some have also had payments sent to their BIPS wallet bitcoin addresses and we recovered these on November 19th sending them to an external wallet for safety reasons. These coins will naturally be available for withdrawal by the respective owners. Any bitcoins sent to old addresses after November 19th will also be available to withdraw by those they belong to.

 

Some merchants have accumulated sales that have been converted to Fiat over time, but not yet reached their minimum payouts. Their balances will also be available in their chosen currency with an option to have them paid out immediately or paid manually together with their new accumulated balance.

 

For all of the above instances, we are currently working on setting up a clone containing old wallet info and transactions, please grant us patience ..

 

Notice:

 

Our mailing system was wiped out during the attack and is still not restored. That means that if we send out mass emails, a large number of these will never reach their destination or end up in Spam folders (some email providers will even auto delete them).

Please check the news section of our helpdesk for more updates and information regularly in case you are amongst the ones who are not receiving our emails.


 

So...any refunds yet?

WalletBit was not a scam. I asked for my balance to be transferred months after the service closed and they did it immediately.

With BIPS, Kris Henriksen pulled a Inputs.io (Tradefortress) claiming ddos attacks overloaded some switches and the hackers gained access. Bitch please....
His last wallet service https://bitcointalk.org/index.php?topic=249751.new

Was it with BIPS?

When was the first time?