To the people who still trade on BTER despite of numerous warnings:We have been TELLING you for the past 9 months
NOT to trade on BTER because they're running a scam. I'm reposting our warning messages for your benefit.
Be Warned: You will NOT be able to recover/withdraw the qora you purchase on BTER, and you will NOT have our sympathy!
If you insist on giving your money to a Chinese scam site, feel free to go ahead.
Just don't come crying about it because all of us have done our best to stop you!!
Guys,
I can't fathom why anyone would continue to trade on BTER when YOU have been WARNED repeatedly that it is a SCAM site by numerous members of BTT community umpteen times!
A quick look at their wallet will reveal that BTER simply DOES NOT have enough coins to cover their balance sheets! Just do a simple math and add up all the qora listed for sale on BTER and compare the number to the fund available in their wallet!
Please stop trading on BTER and just let the site die already!
Take Heed: Poloniex and CCEDK are the ONLY reliable ones at the moment. You have been warned: Withdraw all your coins from BTER immediately. Don't come crying on Qora board when you find out you cannot withdraw the qora you bought on BTER.
I can verify that BTER is, essentially, now defunct. Assuming you want to recover some funds, rather than none, try to do your research and see if any of the coins they offer can be successfully withdrawn. If that's the case, dump your remaining balances for BTC or CNY and purchase those coins. Transfer them out of BTER to a more usable exchange.
The problem is that a while ago (what, a year, or so?) BTER claims they were hacked and lost a significant portion of their funds. Having no funds available within many of their wallets, they don't have the funds to pay back user balances. Claiming issues with blockchain wallets it just away to get around not having a contingency plan.
My hunch is that they are trying to scrape by and rebuild whatever meager business they can. In order to avoid significant litigation, they probably (and this is a wild guess) are only paying attention to Chinese users with moderate balances. This isn't because of prejudice. It's more-likely because a Chinese local with a $10k balance of crypto is more likely to litigate (if that's even possible) than a US or European resident who has the same balance.
I'm sorry to hear if you have withdrawals stuck in limbo. Unfortunately, BTER has proven time and time again that they are completely incompetent, unreliable and untrustworthy.
Begrudgingly I moved over to Poloniex since it has significant volume (ETH trading is over 20k BTC/day?!) There is also CCEDK which I think deserves support but the last time I checked, their volume was so low, significant trades were not feasible.
Guys,
I can't fathom why anyone would continue to trade on BTER when YOU have been WARNED repeatedly that it is a SCAM site by numerous members of BTT community umpteen times!
Can confirm.
Bter stole our Qora over 9 months ago and despite harrassing them for 9 months relentlessly they still will not make good and have finally stopped responding to our support request.
It is our belief that
Bter has been running a fractional reserve for more than a year.
Many articles were published on our blog about this as well as in Youtube/Disqus comments or anywhere anyone brought up Bter in an attempt to warn unsuspecting users.
We also posted these warning on Bter's site within as many coin reviews as we could during that time.
Do not trade on Bter. Let them die.Go Qora!!!
