BTC.com wallet Biggest Scam Warning !! Locked Funds

Rune

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Quote from: BitMaxz on December 19, 2018, 04:04:38 PM

Online wallets are not safe 99% like BTC.com and coinbase wallet and I think you are not the only one who experienced this "consigning is disabled" I heard some users from reddit before that they experienced the same thing and I never heard that someone successfully enable the consigning or unlock the wallet.
BTC.com is known for locking users funds based on the post from here https://bitcointalksearch.org/topic/m.18696900

The best thing you can do now is to explain what happens to your wallet and ask them another way to verify that you own that wallet like sending documents just to verify that you own the wallet or try to request contacting the email linked to your wallet and hope that they could send a link for enabling consigning or a link to unlock your wallet so that you can be able to send bitcoin again.

If ever you can able to send bitcoin and fix don't waste your time and transfer your bitcoin to other wallets where you have full control over your funds.
I suggest you Electrum wallet just make sure you can save the seed phrase to the safe place where you can save it for a long time and use it when you need it to recover your wallet.

People having full control of there funds is best when they know what they are doing
The somewhat recent electrum issue when you would try and send a transaction and it would respond with needing to update
leading you to a fake version of electrum that would instantly steal all your funds some people are just not ready to control there own funds

leowonderful

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Additionally, hardware wallets like the Ledger series or Trezor aren't good for mining payments (or lots of small payments from other places) because it takes the hardware wallet longer to verify and create a transaction when there are many inputs, and this can result in very long times to create a transaction over time. You can simply combine inputs when fees are low every now and then, but Electrum comes in handy for things like this when the correct precautions are made. Hardware wallets do also have their weaknesses, and Electrum can fill at least some of them.

1Referee

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Quote from: BitMaxz on December 26, 2018, 03:16:34 PM

All online wallets are risky to use and it's not recommended to store your funds for a long time and users are not in complete control all Bitcoin private keys compared to use a desktop wallet or bitcoin core wallet. So I suggest you don't use any web wallet or mobile wallet to save your bitcoins for a long time.
I recommended wallet are desktop wallet like electrum and bitcoin core for hardware ledger nano S and a paper wallet.

You can definitely safely use a mobile wallet client like Electrum. You at all times are the sole owner of your private keys, which is what matters here, and it's a light weight client, also very important. As long as you have safely stored your recovery seeds offline (i.e. written on a piece of paper), nothing will happen to your coins.

I seriously wish that the legitimate clients would put more time and effort into making their clients look more appealing, because most of the average joes add a lot value to that, which is why they blatantly pick online wallets over clients that store private keys locally. In the same way, Electrum is pretty boring in terms of UI, and that should change.

I get it, development and security of the client comes always first, but in all the years none of them has done anything to make their client look more attractive.

BitMaxz

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Quote from: shield132 on December 26, 2018, 11:03:18 AM

Hmm... I don't use btc.com's wallet but despite that fact, I still had problem with blockchain.info <-- they just didn't let me to log in on my wallet, glad I didn't send anything here, it was just their strange problem on only one wallet, another wallet works fine for years. Since bitmain ownes btc.com and they also bought blocktrail, have you ever used this last one? I liked blocktrail, now instead of it, they offer btc.com's wallet. I mean, if anyone knows, has btc.com's wallet anything common with old blocktrail's wallet?

All online wallets are risky to use and it's not recommended to store your funds for a long time and users are not in complete control all Bitcoin private keys compared to use a desktop wallet or bitcoin core wallet. So I suggest you don't use any web wallet or mobile wallet to save your bitcoins for a long time.
I recommended wallet are desktop wallet like electrum and bitcoin core for hardware ledger nano S and a paper wallet.

If you are still having a problem with your blockchain.info wallet you can try to contact them first they can help you with your wallet through the verification process.

shield132

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Hmm... I don't use btc.com's wallet but despite that fact, I still had problem with blockchain.info <-- they just didn't let me to log in on my wallet, glad I didn't send anything here, it was just their strange problem on only one wallet, another wallet works fine for years. Since bitmain ownes btc.com and they also bought blocktrail, have you ever used this last one? I liked blocktrail, now instead of it, they offer btc.com's wallet. I mean, if anyone knows, has btc.com's wallet anything common with old blocktrail's wallet?

akmlvl

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Quote from: magneto on December 21, 2018, 05:57:09 PM

Quote from: akmlvl on December 21, 2018, 10:28:15 AM

If they can't handle replying to emails immediately as they said then don't lock someones funds that he needs them in a specific time you know what ? they just don't care it's obvious

don't try to implent security features that are not working properly and are beyond your power to handle

show users a warning on the wallet so they know their wallet is disabled so they don't use it to receive a payment

and show them the reason

it seems like the wallet was disabled even before me receiving the payment

this is not paypal to protect my funds espicially if their algorithm is totally stupid and not stable and locks users without a notice there is a lot of people on fb complaining on this issue

That's exactly what I think as well.

It shouldn't take 2 days to resolve an issue with cosigning a payment. It should take less than 24h at the max, especially when amounts this high that are involved. Otherwise, I think that the 'benefits' (which I don't think aren't even benefits) of having a cosigner verify payments are just completely not worth it for the hassle, and the risk that you can't be verified as the rightful owner of the coins, in which case, btc.com can just not release the coins for however long they would like.

And that's why I don't personally use these services, because there could be a lot of hassle with restoring wallets, contacting support etc. when something like this does happen, even though theoretically they don't have access to your funds. It's much easier dealing with just a desktop wallet which you fully control, or even paper wallets, which in most cases both of these wallets will have sufficient security.

But you made the mistake of not keeping the recovery stuff saved, as well. Things could have turned out bad for you without you having access to the recovery docs.

That's Totally True The lost of the recovery file was my fault but btc.com can't handle such situations properly even tho i'm the real owner they will have a hard time figuring out

Quote from: Lucius on December 22, 2018, 05:45:22 AM

I think you made the right decision, when it comes to cryptocurrency every user should to behave as their own bank. Some amount of coins can always be on exchange, especially if you are a trader, it is a risk that always exists - but most of the funds shoud be in much safer places then online wallets.

Even though you switched to desktop wallet and now you have full control of your coins, it is important to pay attention to security of devices, and to download wallets only from legit sites. Fake wallet or some crypto malware can steal all you have in the blink of an eye.

Good luck&and stay safe.

Yes bro the risk is always there whatever you do
Thanks For the advices be safe too Wink

Lucius

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Quote from: akmlvl on December 21, 2018, 12:26:03 PM

Already Switched Thanks man

I think you made the right decision, when it comes to cryptocurrency every user should to behave as their own bank. Some amount of coins can always be on exchange, especially if you are a trader, it is a risk that always exists - but most of the funds shoud be in much safer places then online wallets.

Even though you switched to desktop wallet and now you have full control of your coins, it is important to pay attention to security of devices, and to download wallets only from legit sites. Fake wallet or some crypto malware can steal all you have in the blink of an eye.

Good luck&and stay safe.

magneto

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Quote from: akmlvl on December 21, 2018, 10:28:15 AM

If they can't handle replying to emails immediately as they said then don't lock someones funds that he needs them in a specific time you know what ? they just don't care it's obvious

don't try to implent security features that are not working properly and are beyond your power to handle

show users a warning on the wallet so they know their wallet is disabled so they don't use it to receive a payment

and show them the reason

it seems like the wallet was disabled even before me receiving the payment

this is not paypal to protect my funds espicially if their algorithm is totally stupid and not stable and locks users without a notice there is a lot of people on fb complaining on this issue

That's exactly what I think as well.

It shouldn't take 2 days to resolve an issue with cosigning a payment. It should take less than 24h at the max, especially when amounts this high that are involved. Otherwise, I think that the 'benefits' (which I don't think aren't even benefits) of having a cosigner verify payments are just completely not worth it for the hassle, and the risk that you can't be verified as the rightful owner of the coins, in which case, btc.com can just not release the coins for however long they would like.

And that's why I don't personally use these services, because there could be a lot of hassle with restoring wallets, contacting support etc. when something like this does happen, even though theoretically they don't have access to your funds. It's much easier dealing with just a desktop wallet which you fully control, or even paper wallets, which in most cases both of these wallets will have sufficient security.

But you made the mistake of not keeping the recovery stuff saved, as well. Things could have turned out bad for you without you having access to the recovery docs.

bL4nkcode

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Quote from: akmlvl on December 21, 2018, 12:33:00 PM

Yes Bro that was a mistake my issue is solved know and i already switched to a desktop wallet

That's good to hear from you, if you're not convinced with the security of your desktop, you can buy at least a hardware wallet for that amount, it will be a good option for running a business.

akmlvl

newbie

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Yes Bro that was a mistake my issue is solved know and i already switched to a desktop wallet

mindrust

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Why are you trusting a 3rd party wallet service? ( and that is 5 friggin btc wtf and it is an online webwallet omg)

How hard is it to download electrum? :/

Never ever use a third party wallet where you don't have the full control.

Note: if you want to access your funds from everywhere, get an iphone and download GreenAddress app. I still wouldn't hold 5btc on a phone tho. Maybe 0.1.

akmlvl

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Already Switched Thanks man

Lucius

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Quote from: akmlvl on December 21, 2018, 10:28:15 AM

If they can't handle replying to emails immediately as they said then don't lock someones funds that he needs them in a specific time you know what ? they just don't care it's obvious...

I think you totally misunderstood the word immediately when it comes to users support on any service, crypto exchanges are nothing better for that matter. User support is one of the things that crypto services should definitely upgrade at all levels, no doubt about that.

But in your case it is solved relatively quickly (even though you are not satisfied), such things usually last for weeks. If you do not like the way this service works try another one. Since you're working with larger amounts of coins, have you ever thought to switch to desktop or maybe hardware wallet?

akmlvl

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If they can't handle replying to emails immediately as they said then don't lock someones funds that he needs them in a specific time you know what ? they just don't care it's obvious

don't try to implent security features that are not working properly and are beyond your power to handle

show users a warning on the wallet so they know their wallet is disabled so they don't use it to receive a payment

and show them the reason

it seems like the wallet was disabled even before me receiving the payment

this is not paypal to protect my funds espicially if their algorithm is totally stupid and not stable and locks users without a notice there is a lot of people on fb complaining on this issue

Lucius

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Quote from: akmlvl on December 21, 2018, 09:15:49 AM

hi man the whole concept of webwallets is that i can use them anywhere with ease they are noob friendly if i have my password and my 2fa auth on me and my email that was never changed on that wallet then i can move my funds that's what's in the user agreement
and as your profile says <>> this perfectly fits here they said there is suspicious activity on my wallet and locked me for days and they didn't want to provide proof that means Scam

And i already worked it out after decades of contacting support and i regained control to my funds

Have you learned anything from this or you will continue to use web wallets after this? Maybe it is easy and comfortable for most crypto users to make online account instead download desktop/mobile wallet or buy hardware wallet, but then you have to be prepared for such situations.

It is not scam as you say, it is just way of protecting users funds since hacking web wallets through phishing is very often these days. They just wanted to be safe you're the real owner, and it is far better way then to allow such big withdraws without additional checks.

You use words after decades , but your thread here is just 2 days old, and on Reddit 1 day old, so it seems that your situation has been resolved within a few days.

akmlvl

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hi man the whole concept of webwallets is that i can use them anywhere with ease they are noob friendly if i have my password and my 2fa auth on me and my email that was never changed on that wallet then i can move my funds that's what's in the user agreement
and as your profile says <>> this perfectly fits here they said there is suspicious activity on my wallet and locked me for days and they didn't want to provide proof that means Scam

And i already worked it out after decades of contacting support and i regained control to my funds

Potato Chips

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Quote from: akmlvl on December 20, 2018, 06:27:44 PM

I updated the thread see again,
how can they deny my access to the coins i have my email that i created my account with i have my password i have my 2fa all with me just fine

But you don't have your backup sheet which content is supposed to prove your ownership and consequently give you access to your coins. If you had it, you could've recovered your coins on your own.

You said that you deleted the file, maybe you could try a data recovery software but I'm not entirely sure if it would work as I have only done it with photos and sd cards, not to mention some of it was corrupted.

akmlvl

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I updated the thread see again,
how can they deny my access to the coins i have my email that i created my account with i have my password i have my 2fa all with me just fine

timerland

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Perhaps they saw the big amount of bitcoin that was involved in the transaction, and flagged it due to that.

Your only path of recourse would be to contact support, PM NeutraLTC as others mentioned, or potentially try to reach out to their social media representatives. However, it'll be hard to prove that you're the actual owner, and they could deny access to your coins.

This is why you should always retain ultimate control over your private keys, instead of trusting others to process payments for you. Sometimes these "security features" can be used against you to hold your funds, and if you don't have the backup PDF, you're essentially screwed.

Personally I don't see any advantages in BTC.com compared to Electrum, in which your coins are solely controlled by you.

akmlvl

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Yes That's what im trying to do i've sent them countless emails from the email linked to the wallet
but they are ignoring them

for sure i will use wallets that i completely control further on i never though this could happen
thanks bitmaxz

Topic: BTC.com wallet Biggest Scam Warning !! Locked Funds (Read 507 times)