Topic: BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE | - page 3. (Read 119637 times)

FYI: I've just cleared everything out using ZEC. The effective loss from doing BTC->ZEC on bter then ZEC->BTC on poloniex is about 10%.

I chose this coin because it ranks as one of the best solutions in my arb system, and the withdrawal fee is relatively low.

No guarantees it will work for you, but something to consider.

I decided to cash out my BTRX whilst I was at it because of the risk of being locked out of all withdrawals at some point (I have no passport)

They seem to have just run out of money

It is obvious that they kept exchange afloat due to some likely futile hope that things would change somehow to the better (for example, the thief returns the stolen funds or someone buys them). A few years ago the competition in the field was not so tough, but today they have no chance to survive unless someone really decides to buy them. But why would anyone want that? It is easier to hire a few decent developers to start the business from scratch, anyway. It is a sort of miracle already that they managed to last that long

From what I've read on the internet no one have successfully withdrawn his money from bter.com

I'm also seeing the KYC/passport scan thing now.

I don't have a passport.

Guess I just made a 0.1 BTC donation to bter!

Bter stole some 7 BTC from me and now they intend to pay me back in CNY according to the BTC price at the time when they stole my BTC. So they list some BTER X BTRX 9,258.227565 under my account. I tried to withdraw PPC and my request was denied because of KYC verification. It really pissed me off but nevertheless I completed the KYC and it finally succeeded. So now my account is verified BUT WHEN I TRIED TO WITHDRAW AGAIN I WAS DENIED. Pics related.





Does anyone know what do I have to do to get my money out from this scammy bter piece of shit exchange? I verified my account sent them pics of my passport and what not and still they are not paying me the money that rightfully belongs to me. Has anyone been able to withdraw anything from bter lately?

Sorry for a late answer, im still not used to this website.
My funds never showed up and a few days later they announced that they would stop withdrawal of BTC, lost some money there..

I do not use BTER any longer due to this.

Just successfully logged in. Didn't make any changes here, just thought I'd give it another go, and it worked.

I checked the account balances page, and the following coins have withdrawals disabled/restricted:

BTC
LTC
QTUM (this may be due to the ICO rather than legislative restrictions)
DOGE (requires verification including scan of passport, and photo of you holding your passport)

Sometimes browsers are making me freak out with their useless "innovations"

For example, by hiding full address in the address bar. Anyway, I don't have anything at Bter (apart from dust) and I'm not going to use it in the future, so I don't really care (well, I know that I should). It seems like they don't have enough cash to prolong their SSL certificate and instead decided to redirect users to plain old http. The exchange obviously continues to spiral down. Nowadays it likely already generates negative cash flows, thus we'd better stay away from it altogether

no withdrawal possible

DOGE


BTC, LTC

My system is reporting some fairly substantial arbitrage ops at the moment, between bter and other exchanges. Even buying LTC elsewhere, transferring to bter, selling it for some other currency, then selling back to BTC on another exchange will make a tidy profit. The last time this happened was right after bter blocked BTC withdrawals. Wondering if others are having problems logging in, and have decided to clear out, thus artificially pushing up prices?

See above. https://www.bter.com/ (HTTP over SSL) redirects to http://bter.com/ (HTTP only). Your connection probably was insecure.  

Login problem is still happening for me.

One unusual change here lately has been that I moved to a VPN a week ago, so my IP changed. I was forcefully logged out at the point I switched, which was expected, but I was able to log back in, and use the site for several more days.

I just changed back to my "real" IP and was able to get to the second stage login (the seemingly competely redundant part where you enter another captcha and EXACTLY the same 2FA value - what's that all about?) but once again was thrown back to the main page without a successful login. Subsequent attempts do not get to the second stage.

Tried https://www.bter.com/ but that redirects me to http://bter.com/ (unencrypted  ), needless to say I did not continue the login attempt.

I got interested and decided to check it out myself

I haven't logged in for quite some time now, so I had to look up my password and login (which I have already forgotten), but apart from the usual stuff like "your connection is insecure" (probably due to an expired SSL certificate), I was able to successfully login. I am using Firefox 52.0.2 (64-bit) on Linux. Though there is nothing to do there. I looked at the Dogecoin orderbook (the coin which I used to trade at Bter), and it is a pale shadow of what it used to be in the past. The whole orderbook (bids and asks combined) is like around 3 bitcoins in total. I still remember the days when at just one price entry so much was offered

Same thing is happening to me.

Check your JS blocker and/or adblockers. They will cause this most times. Funnily they completely block the images for the google captcha and i just click it without having to pick.

Yes I can login without problem.
I have seen for the first time their token, but with btc/ltc withdrawal disabled sounds like a joke!
With this bonus I can recover just 10% of my old balance!!! I try to withdraw dogecoin and they ask for a passport simil-KYC.
Any idea? Just wait or ...  

Am I the only one being refused login? Goes back to main screen without any error, even though I haven't actually been logged in. I am entering captcha and 2FA correctly.

BTER IS FOOLING YOU FOR THE THIRD TIME AND I HAVE EVIDENCE THEY HARDLY WILL PAY YOU

BTER has an average 50 btc daily volume. Some trading markets have fee of 0.1%, and some have 0.2% . I'll consider then average 0.15% for both sides, which brings daily revenue to 50*0,003=0.15btc.
0.15*365=54.75 btc yearly.
I will not even add costs such as hosting, IT, employees, Lin's (freeworm) sallary etc, if I do that yearly profit would be close to 0 or even at a loss!

They are offering you 9 500 000 CNY for 10% of their company. That values their company at 95 000 000 CNY. A company with 54.75 btc (380 000CNY) revenue (not profit!).
They are selling you their company at a Price to earning of 250 years (95m/380k).
Even if they really wanted to pay, they aren't able to do so as the company does not profit enough to buy tokens back, not even close as I showed.
Even if they wanted to pay, only your great great great children will see that money.
Considering they will pay in CNY and BTC will keep on valueing, you'd be selling dollars for pennies.

As if that's not enough, there are also other problems:
China cracking down on bitcoin
BTER reputation smashed
There are lawsuits happening against bter. I know of a communist party member sueing them. They will pay first these people, and only then "pay" token holders (you are a fool if you still think they will buy tokens back).

They bought 2.5% of tokens back now just like they first paid in 2015. I'd be surprised if they do another payment, but I am sure they will not do a third one.
I wouldn't buy these tokens even at 0.00001btc or 0.1cny.
I am glad I sold 90% of mine already, and will sell the rest this month. Now that I'm nearly out I feel I should let you guys know about such things to help you make your decision.
Fool me once, shame on you. Fool me twice, shame on me. Don't let someone fool you thrice. These tokens are a scam and I am glad I managed to sell nearly all mine.

So right now the game seems to be to use the CNY granted from the buyback to purchase more BTRX.

Could be interesting if BTRX is destroyed as bter buys it back.

There's still the risk that bter will not honour the agreement over time, or will abruptly close. The previous BTC_B scheme started out with big promises to recover from the hack, but in reality, over the next two years my account was credited with only a single, small repayment. I hope BTRX does better.

Nothing is more lasting than temporary

These exchanges (where Bitcoin withdrawals and deposits had been frozen) at first said that they would allow cryptocurrency (Bitcoin and Litecoin mostly) withdrawals in the first decade of March. We are a month overdue already, and this may continue for long if not for good. Apart from that, nothing prevents these exchanges from moving entirely into cyberspace (like what Bitfinex seems to have done), where there are no governments and central banks altogether