Bitify.com Says Goodbye cryptocurrency Just like Localbitcoin

BitcSeo

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Quote from: JeromeTash on November 22, 2024, 04:59:30 PM

Quote from: BitcSeo on November 22, 2024, 06:19:56 AM

sad to hear about this also. However, i think localbitcoin.com deservsed what they get because at one point they became security conscious more than the Bank of America. Subjecting most of their customers to pain by requesting proof of verifcation doc, verification ...

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Bitcseo

Yeah, LocalBitcoins really sucked towards the end. I used them for lots of trades back in the day but as soon as they introduced KYC, I abandoned the platform. Never looked back until they shut down.

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hd49728

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Quote from: JeromeTash on November 22, 2024, 04:59:30 PM

Yeah, LocalBitcoins really sucked towards the end. I used them for lots of trades back in the day but as soon as they introduced KYC, I abandoned the platform. Never looked back until they shut down.

LocalBitcoins is not the only P2P exchange to shut down their service, there are more. I didn't know about Bitify but searching today shows me that it is similar platform like LocalBitcoins, for trading giftcards etc.

Some other P2P marketplaces shut down recent years.

LocalCryptos is shutting down.
Paxful is shutting down.

With more stricter regulations on Peer-to-Peer marketplaces from US government, there will be more platforms proactively close their services.

JeromeTash

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Quote from: BitcSeo on November 22, 2024, 06:19:56 AM

sad to hear about this also. However, i think localbitcoin.com deservsed what they get because at one point they became security conscious more than the Bank of America. Subjecting most of their customers to pain by requesting proof of verifcation doc, verification ...

Regards
Bitcseo

Yeah, LocalBitcoins really sucked towards the end. I used them for lots of trades back in the day but as soon as they introduced KYC, I abandoned the platform. Never looked back until they shut down.

BitcSeo

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Quote from: JeromeTash on November 21, 2024, 04:57:50 PM

The name does ring a bell though I have never used the service in the past

Quote from: Potato Chips on November 21, 2024, 04:07:06 PM

This is my first time hearing about the hack, that's sad.

But in hindsight, the marketplace did appear neglected to me when I had check it few times after a long while, as I've never seen them push significant updates nor seen them promoting their platform.

Me too

However, They were honest about it in reason as to why they want to sell the domain

Quote from: https://bitify.com/bitify-com-site-and-domain-name-for-sale/

🌈 Why the Farewell?
A recent bug in the site allowed mallicious users to drain the hot wallet on the site. While the hot wallet only contained ~0.031 BTC, we have been unable to reproduce the bug that allowed the hackers to drain the wallet. It is with a sense of responsibility and the recognition of changing tides that we’ve decided to pass the torch. Our journey may be ending, but the potential for a new chapter is immense. This isn’t just a business; it’s a legacy waiting for someone with the passion and vision to carry it forward.
We hope the new owners will give the business a new ethusiasm and blood is needs to thrive again.

" ......The name does ring a bell though I have never used the service in the past....."

@JeromeTash, for some of us it did. I did made significant amount of btc by selling digital product(s) on bitcointalk forum using bitify automatic esrcow system.

sad to hear about this also. However, i think localbitcoin.com deservsed what they get because at one point they became security conscious more than the bank of America. Subjecting most of their customers to pain by requesting proof of verifcation doc, verification ...

Regards
Bitcseo

JeromeTash

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The name does ring a bell though I have never used the service in the past

Quote from: Potato Chips on November 21, 2024, 04:07:06 PM

This is my first time hearing about the hack, that's sad.

But in hindsight, the marketplace did appear neglected to me when I had check it few times after a long while, as I've never seen them push significant updates nor seen them promoting their platform.

Me too

However, They were honest about it in reason as to why they want to sell the domain

Quote from: https://bitify.com/bitify-com-site-and-domain-name-for-sale/

🌈 Why the Farewell?
A recent bug in the site allowed mallicious users to drain the hot wallet on the site. While the hot wallet only contained ~0.031 BTC, we have been unable to reproduce the bug that allowed the hackers to drain the wallet. It is with a sense of responsibility and the recognition of changing tides that we’ve decided to pass the torch. Our journey may be ending, but the potential for a new chapter is immense. This isn’t just a business; it’s a legacy waiting for someone with the passion and vision to carry it forward.
We hope the new owners will give the business a new ethusiasm and blood is needs to thrive again.

Potato Chips

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yesssir! 🫡

Quote from: BitMaxz on November 21, 2024, 02:19:40 PM

It seems the reason why they are going to sell their domain is due to a hack or a bug that can't be fixed.
The hacker was able to drain the hot wallet. Instead of fixing the bug, they decided to sell their domain.

Pretty bad, I cannot seem to find a similar one or any alternative that accepts BTC and altcoins. I am hoping someone will buy it and change everything because Bitify is still using an old template that appears to be easy to hack or bug.

This is my first time hearing about the hack, that's sad.

But in hindsight, the marketplace did appear neglected to me when I had check it few times after a long while, as I've never seen them push significant updates nor seen them promoting their platform.

Nevertheless, it's always sad to see long running crypto businesses shutting their doors down. CMIIW but I think at some point they were a popular marketplace. Thanks for the service, bitify.

BitMaxz

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It seems the reason why they are going to sell their domain is due to a hack or a bug that can't be fixed.
The hacker was able to drain the hot wallet. Instead of fixing the bug, they decided to sell their domain.

Pretty bad, I cannot seem to find a similar one or any alternative that accepts BTC and altcoins. I am hoping someone will buy it and change everything because Bitify is still using an old template that appears to be easy to hack or bug.

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Bitify has announced they were put up for sale several months ago, not sure if they have been sold yet. Is there any recent update on the exchange? If so, you can share the link here.

Quote from: BitcSeo on November 21, 2024, 09:34:16 AM

Just wondering how many crytocurrency exchange website(S) survived the 2019/20 storm.

What storm are you referring to?

BitcSeo

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Just wondering how many crytocurrency exchange website(S) survived the 2019/20 storm.
Another crypto-currency exchange website (bitify.com) is about to quit just like localbitcoin.com

Honestly, i feel for them unlike when localbitcoin announce that they will no longer provide exchange/trading services.

Regards
Bitcseo

Topic: Bitify.com Says Goodbye cryptocurrency Just like Localbitcoin (Read 85 times)