Three days ago i decided to step out of Mona Coins with more than 50% of los. After logging into my account on the exchange, I saw a message about delisting and that I need to withdraw my coins and withdrawal function doesn’t work! Moreover, the price of coins in the exchange is below market price by more than four times!
I sent a message to the tech support, and they told me to talk about this problem with the developer. “Great”, was my first thought. They claim that coins were stolen from them during the attack on the blockchain, but how is that possible? They are saying that fake coins were deposited on their exchange, and real coins were withdrawn. Maybe that is possible, but this is bullshit, what kind of moron would do that? Let’s assume that I'm the person that attacks this exchange. I bought a large amount of hashing power to have an advantage in making a decision about which blocks would be included in the chain. I deny some kind of transaction and redirect it to the Livecoin (creating false chain), and then I'm moving these coins to my address. However, I need the real network to add this transaction into the block. In this case there is a risk that it will reject all the false chains that I have created previously with the withdrawals from the exchange. Therefore, no one will do that, everything that is ever been deposited will be sold for btc or any other high - profile asset and withdrawn later. This means, that the exchange should have the coins, but doesn’t want to give them away or they do not have the coins, but not because they were stolen.
I totally agree that the exchange is fully responsible for their users’ money and should be solely responsible to have a good security system in place. I do not consider statements that it’s the “developers fault” to be fair, because there was no network hacking, as the exchange claimed. There was a fraud, based on the specifics of its operations. According to the news, the total losses were $90000, and there is no information abut losses of the livecoin exchange. Let’s assume that $90000 is worth 8.57btc at this time. This amount is not high enough for the exchange to try and dump their fault on someone else.
So, why you’ve been selling “air” for over a year, if you knew that user’s coins were stolen? The turnover of this coin was 40btc in June, and you made 0.04btc. In the whole year you've made between 0.5 - 1 btc. It's if we were to believe that the coins were really stolen from you. What if you took advantage of this situation and bought coins from your users cheap, and then sold them on bittrex to cover up another issue you’ve had? I hope it s not true.
Please withdraw my coins or compensate me for their purchase price!
All the reasons for the flag dropped in my opinion. Additionally, this scam accusation should be taken as a support issue because only one very complicated case is not enough to call such a big exchange with thousands of happy customers a scam (in my opinion of course).
If this exchange is so good, then where are my Mona Coins?!!!!!
https://bitcointalksearch.org/topic/m.51919311Start a flag and maybe you will get support, apparently that is the only way.
