Dear Crypto-Trade user,
Right away the most important part: we have fixed the security hole, added new security layers to our servers and re-enabled trading on
www.crypto-trade.com!
Yes, you heard correctly: while reading this newsletter, trading is already possible again. But you certainly want to know a few more details, so let us continue..
What's even more important by now: Against all odds we didn't run away with your coins and money - they are all still completely under your control, as promised by us. So, if there is at least something positive to be said about the past days, neither we nor you were goxed (whatever that means). To give you a short summary of what happened to the stuck coins and fiat money that were affected by the trading shutdown, pls take a look at the following list:
- All stuck withdrawals (except PayPal and a few OKPAY's) whether they belonged to a crypto currency or to fiat money were processed.
- PayPal withdrawals were canceled and you should find the related amount of fiat money in your Dashboard again (details below).
- OKPAY withdrawals will be completely processed by no later than the next 1-3 days. We transfered most of them, but now we hit our monthly account limit, so we need to upgrade it before the rest goes through.
- All deposits were released and should already appear in your Dashboard as well.
Regarding PayPal: we're currently not able to process withdrawals via PayPal, that's why we canceled all pending transfers and credited the money back to their owners. Furthermore we temporarily deactivated the option to pay out via PayPal and recommend everyone to use any of our currently available payment processors that can be found here:
https://crypto-trade.com/feesWe're aware that this situation might cause some troubles to our US citizen, since PayPal was their only option to withdraw fiat to their bank account, so be sure that we're working on a solution for this issue. You already might have heard the reason for this situation elsewhere: As a matter of fact, we were obliged to use a third party processor for all PayPal withdrawals, because PayPal's Terms of Service don't allow their customers any business related to crypto currency trading. Unfortunately our third party processor (Payeer) stopped its cooperation with PayPal, so there's currently no way for us to pass your money safely to PayPal.
So, what happened exactly?
The bug that made it possible to steal us approx. 30,000 USD came with the implementation of our latest server. It was a glitch in the new server's setup and not active before. As mentioned above, we fixed the issue so it should not appear again. We want to apologize for all the troubles caused by the downtime: this was clearly a human error and we're deeply sorry for that. Well.. needless to say that the loss was all on us, too. At this point we want to thank all of you who believed in us and who didn't spread causeless panic. More than ever we're full of hope to become the best exchange out there and even if we're still far from beeing perfect, we might have proven to be trustworthy.
What's next?
While this newsletter's main purpose is to inform you about the current situation, we don't want to end it without having outlined some further actions regarding Crypto-Trade. We're already working hard on Crypto-Trade v2 which will include many of those new features that were requested by you! From "C" like chat history scrolling without auto-refresh, to "T" like trading performance improvements - we surely will find at least one feature for every letter in the alphabet. Our todo list is almost endless - so are the opportunities! Of course we're going to look into new coins that would match our current agenda as well as we're going to find better/faster/safer ways to transfer your fiat money throughout the internet. So stay tuned for further updates!
One more thing: Of course our Twitter retweet contest will be extended! New deadline is Sunday, March 9th (12:00 AM GMT). If you want to enter for a chance to win 100UTC+100WDC+100FTC make sure to RT the following tweet:
https://twitter.com/Crypto_Trade/status/436608575843340288We will randomly pick 5 lucky users on Sunday - each of them will get Crypto-Trade redeem codes of 100UTC/100WDC/100FTC.
In the meanwhile, please feel free to follow us on twitter (
@Crypto_Trade) and on Facebook (
https://www.facebook.com/CryptoTrade to) or drop by at our chatbox to get the latest news about Crypto-Trade.
Best Regards and happy trading!
Crypto-Trade Team