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Topic: BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE | - page 28. (Read 119723 times)

legendary
Activity: 1055
Merit: 1002
It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.

No one save for bter can forbid you to withdraw the coins once they restart the exchange. And if they really open it in 48 hours or so, this won't be a big deal that they didn't allow to withdraw the altcoins. Remember, they had 7k bitcoins stolen, and they had (or still have) to settle this issue somehow.

I am strongly dissagree that 3 weeks of holding user's alt coins is not big deal. I am losing money each day while they hold it. And i am strongy dissagree to continue pay my money to resolve bter's problems. You not agree with me but i still think that exept obvious scam explanation there are only one reason why they didn't open withdraw alts for 3 weeks is fact that they fear to let people run away from exchange with alt coins, before they restart trade, they proly think if we will withdraw coins we will never return them. But i lose money due of such exchange behaviour and it kill any wish to deal with such exchange in future.
hero member
Activity: 714
Merit: 500
'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.

I hope they have learned the lesson and now know how to create a safe cold wallet,

What cold wallet is or is not, what it may or may not be, has been discussed earlier in this thread. A few times already and in great detail, so no need to raise this issue again. Thank you.

I know what are you saying and I don't raise again the old discussion , I have told only my personal opinion about this situation. Thank you.
hero member
Activity: 742
Merit: 526
'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.

I hope they have learned the lesson and now know how to create a safe cold wallet,

What cold wallet is or is not, what it may or may not be, has been discussed earlier in this thread. A few times already and in great detail, so no need to raise this issue again. Thank you.
hero member
Activity: 714
Merit: 500
'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.



I hope they have learned the lesson and now know how to create a safe cold wallet, however will you use again bter  ?
legendary
Activity: 1050
Merit: 1000
'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.
hero member
Activity: 742
Merit: 526
It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.

No one save for bter can forbid you to withdraw the coins once they restart the exchange. And if they really open it in 48 hours or so, this won't be a big deal that they didn't allow to withdraw the altcoins. Remember, they had 7k bitcoins stolen, and they had (or still have) to settle this issue somehow.
full member
Activity: 168
Merit: 100
Am I the only one thinking that it's OK for Bter to have been hacked in terms of do you want to keep your funds on there and keep trading. I'm guessing security will be bomb proof after this. There's nobody more paranoid than somebody who's already been stolen from. I trust paranoid people.

It actually there 2nd hack. First was NXT.

And evn if they offer the safest cold wallet, I would still never trust them with a penny. They still haven't explained how they got hacked in the first place
member
Activity: 98
Merit: 10
Im hoping for all users that they come back and stay true to there word. But yes, not a good practice to leave coins on exchanges because of things like hacks and jacks.
legendary
Activity: 1540
Merit: 1016
It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.

or another thoughts of this, they got no funds to refund all their customer, so that they need to open up trading for the moment, to get some extra funds, which i wondered if there will be people that trust them anymore considering volume of stamp, dropped after the hacked, even after they refunded all the lost
legendary
Activity: 1055
Merit: 1002
Am I the only one thinking that it's OK for Bter to have been hacked in terms of do you want to keep your funds on there and keep trading. I'm guessing security will be bomb proof after this. There's nobody more paranoid than somebody who's already been stolen from. I trust paranoid people.

Would be right if it wouldn't be 2th hack.
jr. member
Activity: 59
Merit: 10
Am I the only one thinking that it's OK for Bter to have been hacked in terms of do you want to keep your funds on there and keep trading. I'm guessing security will be bomb proof after this. There's nobody more paranoid than somebody who's already been stolen from. I trust paranoid people.
legendary
Activity: 1764
Merit: 1031
It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.
legendary
Activity: 2898
Merit: 1017
@sherby, that might be true. I am not much aware of what MTGox did before.  Best thing to do then is not keep your coins on any exchanges/with any third party

Here's a pretty solid theory on what happened on mt.gox - https://bitcointalksearch.org/topic/peter-r-rizuns-theory-on-the-collapse-of-mtgox-and-its-effect-on-the-price-of-bitcoin-497289
hero member
Activity: 742
Merit: 526

Finally  a good news, I hope that I will be able to withdraw all my altcoins ASAP (after they will reopen). I am really very tired and I only want my altcoins, and obviously I won't use bter.com again (that's sure!).

English translation of what is written in Chinese on the site right now:

Quote
We are deploying a new trading system, 100% cold wallet storage to solve security problems, faster trading engine, more user-friendly interface, more features. Stay tuned, BTER will return

For what it's worth.
sr. member
Activity: 252
Merit: 250
@sherby, that might be true. I am not much aware of what MTGox did before.  Best thing to do then is not keep your coins on any exchanges/with any third party
hero member
Activity: 714
Merit: 500

Finally  a good news, I hope that I will be able to withdraw all my altcoins ASAP (after they will reopen). I am really very tired and I only want my altcoins, and obviously I won't use bter.com again (that's sure!).
hero member
Activity: 910
Merit: 1000
Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".

I don't know the real reason behind it, but the volume on bitstamp have actually been affected after the hack.

As for bitstamp, I still respect them for being able to refund the coins, and it doesn't really matter if they have come back.

Well thats not the reason you should start trusting bitstamp. They might just be un dissolvable. Meaning, that at any particular time, they are always holding a certain amount of coins, and might not be dissolvable if they sold all of them. So in the end it could all end as a ponzi, like MTgox was speculated to be after the hack.
sr. member
Activity: 252
Merit: 250
Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".

I don't know the real reason behind it, but the volume on bitstamp have actually been affected after the hack.

As for bitstamp, I still respect them for being able to refund the coins, and it doesn't really matter if they have come back.
hero member
Activity: 742
Merit: 526
Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".

I beg to differ. Especially about the part that Lin is trying to save the exchange by holding users' coins. He certainly would if he allowed trading but disallowed withdrawals. But since neither is allowed at the moment, it is a moot point which will be resolved once the exchange opens (if ever).
legendary
Activity: 1055
Merit: 1002
Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".
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