Bit365s last post this morning.
Important update on status of payouts:
We realize many of you are panicking and I am here to update everyone on the current status of payouts and hopefully ease some tensions.
As you know, about one month we realized investments were calculating the wrong profit amounts. While fixing this issue over the next two weeks, the large number of cash out requests while this was on going quickly tapped out the small amount of BTC kept in our hot wallets.
What you do not know, is when we went to recover the majority of site funds from the thousands of addresses in cold storage, we were unable to recover the wallet files. In hindsight, it was a bad idea to not let everyone know about this at the time, but we did not want everyone to think their BTC was gone forever.
Over the past few weeks we worked on recovering the wallets hoping that this problem could resolve itself quickly. Days and weeks went by and we were still unsuccessful and users became much more impatient waiting for their payouts. However, I am happy to announce that we have now recovered one wallet, and it looks like we will be able to recover all of them.
Payouts will now be resuming and as more BTC is recovered all pending bets and investments will be sent out. We will be going through the list of missing payouts, or you can PM us the info and we will make sure it is processed asap.
BitcoinSports never was, is, or ever will be a scam. We will never run with your funds. We would not continue to update everyone if we did not have every intention of making good. We will continue to keep everyone updated about this at a much more frequent rate. We apologize for the lack of communication, it has been a stressful time for our users and our staff while we resolved this and we thank you for your patience.
I actually trust him for some strange reason. I am sticking with the signature. I signed up for another month just before the rates were cut, I don't know if that will be honored, but as a user of his sportsbook I like to carry the logo.
