Topic: Let's talk about BTC.SX and MT.GOX (Read 7183 times)

Hey Hodor,

I just cross upon this thread.....look at the excel sheet provided by btcsx and read your case.

It seems that you really tried to profit from the negative stop loss exploit, it was a great finding of you but you seem to be a black hat exploiter/hacker (so this is sad....), but I dont understand why if you have tried to exploit the flaw that you didnt opened both long and short positions at the same time and never realized your loss until you make a profit. You would had made a ton!

You would lose in court. You can't play ignorance, you knew the loss on your trades could not be pulled from you if you had empty accounts. You knew SOMEONE had to eat the losses OVER your initial deposit. It would not matter in court that the site said "you won't lose more then your deposit" because that is clearly the intention of the operator as he wouldn't want this scenario to happen.

It HAD to of crossed your mind "hm, if i lose on x10 leverage, but put x btc in and can set this stop limit over my total inital deposit, i could cut out some huge profits while maintaining a small loss." after the first 5 or so times you did it.

You sound like Barry Bonds denying doing steroids. You knew what you were doing was gaming the system. It doesn't make it legal just because you were able to do it, it matters what the intent was and anyone in their right minds know a derivatives exchange would never cover your losses.

I would love to see you blow your money taking them to court though.

These scams are going to be sued, stay tuned for the news

Same here. Even tho, they said "Your accounts have been unlocked", and accounts really Have Been, before being deactivated. Also, they keep silent about illegal disclosure of personal information. They obviously want this case to go to the court and to be highlighted all around the world.

What a beautiful slap in the face this morning. I received, to my email address associated with my btc.sx account that has been suspended and who's support requests have been ignored for over a month, the following exciting news:

BTC.sx Receives Largest Seedcoin Fund Investment: Virtual Incubator Finances the First Bitcoin-Only Derivative Trading Platform

Fraud, ignore, illegal disclosure, ignore

Any updates? I've still been waiting over a month for a reply from BTC.sx about my withdrawal (and asking about weekly for updates).

I'm sure no one cares about your personal information, though best to clean up this mess 

Seal,
You have illegally disclosed my personal information such as email, name, private mail exchanges, etc. at huge cryptoforum, at the topic that have been read almost 1300 times at the moment. All proves are screenshotted and saved.


This website and its owners take a proactive approach to user privacy and ensure the necessary steps are taken to protect the privacy of its users. This website complies with UK and EU laws and requirements for user privacy.

We use any information submitted to provide you with further information about the products and services we offer or to assist you in answering any questions or queries you may have submitted. This includes using your details to inform you of important announcements. This is by no means a comprehensive list of your user rights in regard to receiving email marketing material. Your details are not passed on to any third parties.

b) BTC.sx shall be entitled to disclose your user identity and personal details if required or requested by a court of law, governmental agency or any other law enforcement authority in such circumstances as BTC.sxin its sole discretion considers reasonably necessary or appropriate.

4.1 BTC.sx may place information concerning you on a database of internal use only. BTC.sx will not disclose your details to any third party unless required by law, unless specifically instructed to the contrary by you.

Check this.
http://www.reddit.com/r/Bitcoin/comments/2175ct/feedback_dont_use_btcsx_scamtrap/

Now we doubt they are reviewing anything.

Yeah, you ignore, but you shouldn't ignore your clients, that's not how "support" or "trading platform" works. Especially, when clients try to make you hear the info, that should make you reconsider your decision about stolen money by you.

Few strange emails arrived from btc.sx, it contained like "Your request (3) has been updated. To add additional comments, reply to this email." + email history, some of them contained: "Your request (32) has been received and is being reviewed by our support staff. To add additional comments, reply to this email." + email history. On each of few new emails sent we've got same autoreplies, but now there are no more autoreplies even.

Don't know if this will work out. No live answers. Maybe it's just another trick. Maybe they haven't even read the thing we try to make them hear for more than 1 MONTH.

Looks like they are reviewing this case.

UPDATE:

Their facebook wall has been closed from posting anything by anyone, they opened it for their fake guy(https://www.facebook.com/profile.php?id=100008011031792) to get a posivite respond. Like "I have problems!", "oh, it has been solved, thanks!". And after they have closed it again. I think he's fake coz he only have 2 same photos(=1photo) and "like" for btc.sx, that's all his page.

I consider, he's not the only fake one who placed fake "posivite" respond on their wall, because few other guys I've PM'ed after their posts with like "Hello, I have same problems with btc.sx, did you get your answer or smth?" left unread. Now I don't think it's just a coincidence. Also, they continue to clear their wall from links to this topic again and again.

Seal was online today.
Imaginary reasons for stealing money, ignoring info about different accounts belong to different people.
No answers still.

Hi Seal.  I'm inclined to believe you that Hodor / larin has gamed the system, however I cannot decipher your post.  Forgive my ignorance of your system, but I can't think of a way to abuse a stop loss order with my stock broker - if my broker later tried to claw back my trades I would definitely go to a lawyer to draft a strongly worded letter. 

So in the interest of letting the community fairly judge your operation could you explain like I was 5 years old what each line in the spreadsheets you linked means and why that would be an exploit of the trading system?

Seal, the way you disrespect this info is not acceptable. Scam call remain opened. The only way to close it - react to the provided info you've being ignoring for a month, bring conversation to a consensus.

Well, I'm the victim here. I'm not the trading platform. And I'm the one money has been taken from. They have to prove their point to take the money like that. Otherwise, they can take money from anyone on some ungrounded accusations.
I see no evidence at all.
What's unbelievable in - 5 friends try to make wire transfer with less fee?
And they've actually taken much more than it were initially depositted. Another reason for calling it a thievery.
At the moment all the money depositted is placed into their pockets. Of course they don't want to payout, all the payouts are from their pockets(as Nagle mentioned), but they claim all the money to be earned by using their platform, that's not true.
We'd even agree to cansel all the profits all and the losses and return initial deposits, if they are playing this scenario. But they don't want to go any other way except "take all money and ignore", there was no dialogue with BTC.SX for a month. Only by forcing this topic it became possible to have a conversation with them. That's how they act. I doubt anyone think it's "transparently" or that's the way solid platform acts.
And don't you think breaking their rules given in FAQ and taking withdrawed money is enough to claim this a thievery? Not a word written about "place big stop loss and we will take your balance(not deposit)". The only thing that's written "losses will never exceed your deposit".

Hodor even i dont believe that all 5 accounts are not yours.  The reasons you give smell fishy to say the least.....

Im not sure who has the biggest credibility issue here you or btc.sx

Here, the people who have to pay up when they lose, and the people who decide who has to pay up and when, are the same.

Derivatives require debt collectors, because they are future promises to pay. The debt collector can't be the debtor. That's a good reason not to deal with them.

“He who sells what isn't his'n. Must buy it back or go to prison” - Daniel Drew, on short selling.

I see. But nothing is over, Seal. Besides your imaginary reasons of stealing money there is one more thing. As I mentioned higher, we didn't inform you about accounts belong to different people at start, coz there was no need in this, but you ignored when we informed you about that. So you have to respect that. Continuing ignore is not acceptable. We won't close any scam calls, every article about your company will be commentated with links to this story. Reputation of the btc.sx going down.