I heard about this incident on btc-e trollbox and came to have a look.
On the homepage it now has this message which is a good sign.
Please do not deposit any kind of coins.
Please cancel all orders and request a withdrawal.
CoinMarket.io will be shut down when the problems are solved.
With regards to exchanges and I have been involved in a couple, (even investigated doing my own) security is a big concern. There is 2 coins hackers and scammers are concerned with
and that is bitcoins and litecoins. Don't listen to the noise regarding alt coins. Every exchange that has been "hacked" have given back alt coins. This is includes freshmarket.io, openex etc and everytime
the hacker is demanding ransom in order to have btc/ltc returned which does not make any sense at all.
With the Poloniex hack where 12.3 btc was stolen it only affected the btc that was in the system at that time. IE Lets says I had btc on poloniex before the hack then I would be affected, however btc deposited after the hack was not affected.
What remains a mystery is the plan for the bitcoins that were deposited after the hack like others are starting to query. Coinmarket has made it clear that they are involved in negotiations for btc
that was deposited during and before the exploit.
So possible reasons why btc deposited after the hack haven't been returned?
1. They plan on using all btc to lessen the damage to the rest of the people that had btc stolen. So everyone gets a smaller amount back even if you deposit btc now.
2. They are going to return all btc back once the negotiations for making up the lost btc has been concluded.
3. You will never get your btc back.
Does anyone know how much bitcoins have been stolen?
This is a really interesting scenario playing out here and definitely will come back to read updates. Lets hope this story ends well for everyone and that the bitcoins are returned.
What is your personal thoughts on this matter since you experience with exchanges?
Well you have to look at the facts and the facts point to the exchange being a scam to me, a scam to steal bitcoins. Below are my reasons:
1. Taken way way way too long to sort out with no information about the incident until now.
2. Only when Kenneth's identity was exposed was some action taking place, when Kenneth was no longer able to take the pressure on his own he pointed out the other person involved.
3. Since this person Kiur has been exposed a lot more action has taken place in the last couple days then in the last month.
4. The Alt coins were always there to give back, why only now?
5. Bitcoins deposited after the hack/scam took place have not been given back to the traders, exchange owner keeps dodging this question.I think your bitcoins are gone personally and I am 99% sure I won't be proven wrong which is unfortunate for everyone here.
What is the worst thing coinmarket.io would fear ?
A legit exchange would only fear being hacked or exploited... and obviously having time wasters pretending they made deposits or withdrawals. A legit exchange would communicate the issue straight away like Poloniex did with there hack.
The Coinmarket story has kept evolving from what I can see.
What should the they fear?
1. Did they steal from someone they shouldn't of? I am sure they did a background check on the users registering on there exchange.
2. Being put under investigation, everything of yours gets monitored, which means never being able to withdraw the bitcoins.
3. Getting a criminal record --> National and International
4. Disappointing family and friend as they find out over media what has occurred.
Ultimately it will be hard to enjoy your bitcoins and you could end up having money but living a lonely life where no one trusts you.
So getting this out onto major publications, media is what I would fear in this case. You have there details so time the community lets loose.
The major proof that this is a scam is bitcoins that were deposited after the "Hack" have not been credited back to the users and the alt coin returns yesterday was just to buy more time.
