Topic: Coinarch Website Scam!! PLEASE BEWARE! (Read 1219 times)

Want to change your response now? HAHA, they are 504 and cant login to WD my 10btc, those pieces of crap! I thought I would have learned from GOX.

Please, understand I warned you guys, this is a scam site under the veil of trust and honesty. My last straw was this past run up to 500, I had a long in for 2 btc 10x from 289.00 I was making crazy profit on it, closed out, start another for 4btc long from roughly 340. Making crazy profit and had a closeout for 480, as i always make a crazy high number not expecting to get it, but just in case for times like this. Then the site went down. We will see when it comes back if I got my profit. Highly doubt it. More than likely they don't have enough btc to pay out the bids they set up. Really sad if you ask me. Lesson learned, Coinarch is a scam site trying to be honest.

terrible. I had just made over $100 deposit then the site went down and still down!

they have been good in the past when they went down and their support.

I ain't worried, I am sure they will fix it. If not. we got Gox'd

i just it very odd that when the price spiked to 500 all of a sudden the site goes down, is still down, and none of their links work....


i really had faith in them cuz i hadnt had any real issues until now.....

unfreakinbelievable......

most likely coinarch is legit.
just give your evidence and let's see if you get the money back.

That's rough but i wouldn't call this stealing money, As far as i can see, this sort of thing happens on bitfinex and bitstamp as well. I think their main problem is that they are understaffed. This leads to panic which is piled on to when people start losing money. I personally don't use a custom stop loss but use my own API i implement in firefox.

hahaha, this is pretty funny but not really true, i have read their source code and the main problem they face is caused by forking of the bitfinex API, since that is where they actually do the trading the website is just a portal. But i admit their server lag i extremely frustrating! I think if they fix this their site would assume some stability in the high volume areas of bitfinex order book (that is actually where the problem lies) and after bitfinex comes online they have to restart their server in order to resume their trading, this would not be necessary if they autosynced instead of only connecting to the API when trades are sent but autosyncing requires extremely expensive equipment, so i guess they just lie in a tought place in terms of net worth to hardware ratio.

Mods, move this if it is in the wrong place, but just want people to be aware of a scam unfolding.

I am trying my hardest not to FUD, but this is the third time Coinarch.com website has stolen money from me.

First time: Early January. Put a long in at 270 for 7btc with a 8x(max at the time) leverage. price skyrockets to 315. I put a take profit at 305 when i set up the position. Site gets overloaded, can't handle the traffic, price plummets to 260 and take profit never caught. I lose almost all the 7 btc. They stole my money and they knew. I messages their support and got a "we are so sorry, won't happent again please come back"

Second time: Yesterday, finex api screwed up, had a short in, then when it comes online price goes higher and it hits my stop loss and lose more money. Mind you I am unable to adjust my prices while this is happening because the way their scam is set up to take your money.

Third time, and last time: Today. Had a long in for 6 btc 10x leverage from 219. Price is bouncing off 230-232 now, my take profit is set for 230 and the position won't close. After the site fixs itself i am sure it will be lower, and they will end up taking my 6btc, or a large portion of it.

TL;DR- Coinarch is broken, script is setup to lock up when you make money, Contacting support gets you a, "sorry, investing involves risk" crap story.

Hope this helps someone. Please spread the word. Enough scams going on these days. Don't need more.