Say bye bye to your coins if you trade on BTER

gristlelump

member

Activity: 110

Merit: 10

Quote from: geforcelover on February 17, 2015, 05:49:21 AM

Quote from: gristlelump on February 16, 2015, 04:09:26 PM

BTEr.com......lost 10 bucks. So sad Angry

Ahah i just lost some satoshis

hope that this issue will resolve soon but i dont think after the issue resolve anyone going to trust bter

Didn't trust them..that's why I only lost 10....was doing Chinacoin arbitrage between Cryptsy and Bter. I only play existing volume and never push it past that.

geforcelover

full member

Activity: 168

Merit: 100

Quote from: gristlelump on February 16, 2015, 04:09:26 PM

BTEr.com......lost 10 bucks. So sad Angry

Ahah i just lost some satoshis

hope that this issue will resolve soon but i dont think after the issue resolve anyone going to trust bter

rikkie

hero member

Activity: 574

Merit: 500

Richard Coleman - Chief Executive @ CloudThink.IO

What exchange is the best do you think?
I have always used "cryptsy" and until now without problems?

Is 'coingecko' good?

gristlelump

member

Activity: 110

Merit: 10

Quote from: M28MmickT on February 16, 2015, 04:15:37 PM

You have not noticed that everyone already knows Huh

Atleast you only lost a few quid some of us lost a few hundred and i guess others lost a few thousand. 'On the up side' BTER did get hacked for 50 million nxt recently value $1.5 million and everyone received their coins back so we will see what happens Undecided

Don't be obtuse! at the time of my post I did a search and I was the first to post on Bitcointalk about this.

Q7

sr. member

Activity: 448

Merit: 250

withdrawals of the unaffected coins will be arranged later so that means there's chance to regain back your coin even though there is no specific date mentioned

ticoti

hero member

Activity: 854

Merit: 1000

and altcoins? there is no reason to keep with altcoins...

finnile

full member

Activity: 196

Merit: 104

I had some coins in the form of Supernet about 2 months back. Glad I sold and cashed out the btc I had on it.

croato

hero member

Activity: 616

Merit: 500

1BkEzspSxp2zzHiZTtUZJ6TjEb1hERFdRr

I did not have any funds there cause i am trading only on Cryptsy and so far there was just one hack on their points reward system as far as i can tell. I agree with more regulation and responsabillity on exchanges and that could somewhat improve things but real progress will be made if we possibly make that decentralised exchanges working.

Bizmark13

sr. member

Activity: 462

Merit: 250

What really matters is the size of the hack in proportion to the exchange's total funds. They lost 7,170 BTC which is worth $1.75 million. When Poloniex was hacked, it only lost 900 BTC worth $50,000 which represented 12 percent of all customer funds. However, Bter is also a much larger exchange than Poloniex. Bitstamp was able to survive a $5 million hack - and quite easily too. Had the same thing happened to Poloniex, it would have killed the exchange outright.

Last year's NXT hack was also in the same ballpark in terms of severity but fortunately they were able to recover most of the NXT. Also it's certainly strange to see that the cold wallet was targeted in the most recent hack since a properly secured cold wallet should be immune to this type of breach.

Twipple

sr. member

Activity: 462

Merit: 250

I got my coins out of the site after the NXT hack. Thank god I didn't deposit there again.

cozk

hero member

Activity: 812

Merit: 500

Ah yes. The "hack".

I made a dream last night.
In that dream exchange operators all over the web were stealing BTC from their exchange wallets and blaming all of this on a ''hacker''.
Everybody believed it. Life is good.

Then again that is just a "dream"

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: DGulari on February 16, 2015, 04:13:06 PM

Quote from: gristlelump on February 16, 2015, 04:09:26 PM

BTEr.com......lost 10 bucks. So sad Angry

Me too! This is seriously fucked up. I lost another $10 on this exchange too. I am sick of the bullshit. Who else has suffered? First Gox, now this. I can't take any more. $10 doesn't come easy you know.

You are lucky that u lost only 10 bucks, if i were you i would jump out of happines, there are alot of people that held much more, imagine what they're going through now.
This is why its needed to regulate who can operate an exchange, forcing owners to back their bussines with their personal funds and estates would stop thefts, because after all said and done, i
believe none of them when they say they got hacked. Its easier to make it look like theft than earn enough for retirement.
cheers

rich93

full member

Activity: 595

Merit: 101

Chromia - Relational Blockchain

Quote from: pawel7777 on February 16, 2015, 04:52:12 PM

Quote from: rich93 on February 16, 2015, 04:35:54 PM

If they compensate bitcoin holders using the alt coins then they either have to give bitcoin holders alt coins or sell all the alts they hold to raise compensation funds. I'm not sure how legal either option would be but poloniex didn't compensate bitcoin holders using alts when it got hacked. They slowly paid back the bitcoins from trading fees.

Depends on what's BTER's situation, but doing things Poloniex style simply could not be an option.

You do have a point, it's not easy to divide altcoins, but it would be similar to any company going bankrupt, creditors would just split the remaining assets accordingly.

Btw, what did they do when NXT got stolen?

They negotiated a deal with the hacker to return all the stolen NXT. They paid him a load of bitcoins to return the NXT, but nowhere near their market value. There are not many exchanges he could have dumped them on and I don't think there are any NXT mixers, so they would have been traceable.

cafucafucafu

hero member

Activity: 812

Merit: 509

i lost coins on bter even when they were not being hacked. my coins would just disappear.

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: rich93 on February 16, 2015, 04:35:54 PM

If they compensate bitcoin holders using the alt coins then they either have to give bitcoin holders alt coins or sell all the alts they hold to raise compensation funds. I'm not sure how legal either option would be but poloniex didn't compensate bitcoin holders using alts when it got hacked. They slowly paid back the bitcoins from trading fees.

Depends on what's BTER's situation, but doing things Poloniex style simply could not be an option.

You do have a point, it's not easy to divide altcoins, but it would be similar to any company going bankrupt, creditors would just split the remaining assets accordingly.

Btw, what did they do when NXT got stolen?

rich93

full member

Activity: 595

Merit: 101

Chromia - Relational Blockchain

Quote from: pawel7777 on February 16, 2015, 04:28:39 PM

Quote from: nextgencoin on February 16, 2015, 04:19:58 PM

I can't see any reason why non BTC held on BTER can't be returned. If not I'm calling it ankther theft, this time by BTER.

And probably anyone who had BTC over there can't see any reason why he cannot get compensation from whatever funds Bter has left (including hot wallet and altcoins).

Why bitcoin holders should be penalised, after all it's Bter's fault not theirs.

If they compensate bitcoin holders using the alt coins then they either have to give bitcoin holders alt coins or sell all the alts they hold to raise compensation funds. I'm not sure how legal either option would be but poloniex didn't compensate bitcoin holders using alts when it got hacked. They slowly paid back the bitcoins from trading fees.

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: nextgencoin on February 16, 2015, 04:19:58 PM

I can't see any reason why non BTC held on BTER can't be returned. If not I'm calling it ankther theft, this time by BTER.

And probably anyone who had BTC over there can't see any reason why he cannot get compensation from whatever funds Bter has left (including hot wallet and altcoins).

Why bitcoin holders should be penalised, after all it's Bter's fault not theirs.

nextgencoin

legendary

Activity: 1106

Merit: 1000

I can't see any reason why non BTC held on BTER can't be returned. If not I'm calling it ankther theft, this time by BTER.

M28MmickT

sr. member

Activity: 433

Merit: 250

BTG CEO

You have not noticed that everyone already knows Huh

Atleast you only lost a few quid some of us lost a few hundred and i guess others lost a few thousand. 'On the up side' BTER did get hacked for 50 million nxt recently value $1.5 million and everyone received their coins back so we will see what happens Undecided

DGulari

legendary

Activity: 1386

Merit: 1000

KawBet.com - Anonymous Bitcoin Casino & Sportsbook

Quote from: gristlelump on February 16, 2015, 04:09:26 PM

BTEr.com......lost 10 bucks. So sad Angry

Me too! This is seriously fucked up. I lost another $10 on this exchange too. I am sick of the bullshit. Who else has suffered? First Gox, now this. I can't take any more. $10 doesn't come easy you know.

Topic: Say bye bye to your coins if you trade on BTER (Read 1841 times)