Topic: Official BlackCoin statement from CryptoRush - Very shocking information (Read 58989 times)

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I would ("lost" 5k$), because I don't think it was an internal theft and it could happen to any exchange, which it clearly does pretty often.

Also gained fee's will cover the payback plan, so to help the victims in our community, maybe atleast give it a chance

but take it easy with loading wallets with to much if you are afraid.

I'm excited though to see what they deliver

Relaunch? lol who would send even a satoshi to these scammers?

Bitcoin: 0.00000044
NOTE: This does not reflect actual available funds, only what the system recognizes you are entitled to.

beta is available to try right now, apply at freenode channel #cryptorush

cryptorush..lol

I wonder how many more weeks they'll have this "sneak preview" page up before they either disappear completely or try to re-launch. How long does it take to do a friggin audit I mean seriously...

More than 6 hrs to realise....?

I guess I will never get back the coins I lost when I had to convert all my cryptorush funds into a coin I could pull off the exchange at a considerable loss.

So are my 0.31BTC (that I had right before the site went down) lost ? Or they are just getting transfered to the new CR and will be there when I login in my acc.

Okay, well some highlights were:

1.) We are not honoring the statement that was published on IRC and acknowledged by CR as legitimate a few weeks back where we said we'd compensate people with extra CRS shares. So yet again, they made a promise and broke it, great start.

2.) They are going to convert whatever coins you "lost" to btc/ltc and use that to track how much they "owe" you. Unfortunately it seem that if the coins' values have changed since you got them stuck on the exchange this means you just get fucked. BYOL please (Bring Your Own Lube.)

3.) I laughed so hard I almost pissed myself at that part. Oh CryptoRush, way to regain our trust. Yeah, I'm sure they fucking polygraphed the head of security.

3b.) They make a lot of grand statements about all these new staff/managers yet they don't give even the slightest damned clue of who they really are. How about names and pictures? Cryptsy and Bittrex are open about who they employ. Your grand claims of hiring the grand poobah jedi-master prodigy of such-and-such are meaningless when all we have gotten from CR so far have been lies and deception, and you offer no supporting evidence that what you now say is true.

4.) I (X3n0x) am donating 75% of my own personal crypto funds and writing off my own cryptorush losses (but no explanation of how much BTC that is equivalent to or what his losses were, nor any proof that this is actually occurring.)

5.) I encourage my staff to also donate their funds / forgive their own CR losses... (WTF?)

Those are just some of the particularly suspect and/or absurd items...

To be fair, this actually does sound like some sort of plan. Freeze the debt, start fresh, that's what they should have done long ago. Now the problem is that they have screwed a lot of users who lost their money in the chaos since the initial insolvency issues. Someone who had to buy overpriced coins to get out of the exchange might not be happy with the belated plan.

On the other hand I would have expected some numbers to show that they know what they are talking about, at least estimates of some kind. Total debt is X, fees generated per month Y with Z% projected growth and it will take 200 years for everyone to be made whole. Something like that. Right now I can't see how this could possibly work with the losses that have been sustained. I also don't have any trust in their "team" of anonymous Fortune 500 experts and other BS. I don't get who is this supposed to impress but then again I'm probably not the target audience.

Yeah, I just saw that. The thing is, they don't have the greatest track record with their "official announcements" and holy crap, how many times has ownership of this exchange changed hands in the past few months? It seems like every week there's a new IRC log with some new figure claiming to now be in charge and to have some grand plan to fix everything.

A new announcement was just made:

http://www.cryptorush.in/press/20140418%20-%20Debt%20Management%20Statement.pdf

Im very interested to see if people will start trading again. I have to give them credits for trying...

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They need to just man up and find a way to come up with the BTC (and other coins) to reload the site's balance. Period.

https://bitcointalksearch.org/topic/the-only-crypto-rush-solution-554481

im still waiting for a single word on SPA. Its like its unexistant for them. Or maybe they simply dont care.
Still waiting on BC and SPA, actually. i dont care if need to be arbitrage. But its so elemental to at least adress the problem... Not bury it... oh well.

Not just zero security, zero accounting.

new article today:
http://www.cryptocoinsnews.com/news/cryptorush-mt-gox-alt-coins/2014/04/02
CR dubbed the mt.gox of altcoins

Wow...

And I was wondering how comes so many exchanges fell.
Using git tree in production web tree, using wallets as only mean for accounting, etc....
Security? What security....