Topic: Vicurex freezing withdrawals. (Read 6903 times)

this is old news.............

I wish this was true but I'm afraid you have no idea what Kumala has done to some people.

I've been pretty angry regarding what Kumala did but now I'm just heartbroken.  All I did was move some coins into Vircurex to trade them in late March and couldn't get them back. I only move coins to an exchange to trade then I retrieve them immediately.  Kumala claimed there was a technical error he was fixing but then he froze (stole) them.  He promised to make up his losses without affecting user accounts then went back on his word.  He claimed he was fixing a technical withdrawal issue and stole those funds too.  That second lie costs me a lot of money and heartache.  Here's why:

My autistic son will be graduating from high school in June.  It has been such a long journey for us and we are very proud he has made it.  My wife and I asked him what he wanted as a graduation gift and he said he'd like a cruise to Alaska.  Normally we could never afford that trip but I had enough cryptocurrency to just swing it.  I tried to trade the coins on Vircurex so I could monetize them.  Instead, Kumala stole them from me.  I've tried everything to get him to return them and he won't even respond to me.  Monday, I saw Kumala unfroze .00026808 LTC of my total of 450 LTCs.  I guess I was fooling myself thinking somehow I may get my coins but now I know I won't.  My wife recently cancelled our trip and today I told my son we can't go because someone stole the money. He was heartbroken and I was humiliated.  I'm now selling all of my mining equipment in the hope of raising some cash for a more modest trip.

I don't need sympathy and I certainly don't need people telling me it's my own fault for trading on Vircurex.  I just want people to know (especially Kumala) that what he did had real consequences for people.  Does Kumala realize when he steals people's coins it could effect their lives? 

I'm beyond upset now.  I'm heartbroken that he could be so callous as to steal people's wealth with no regard to how he is hurting them.

I believe = I see that they are trying to do something instead of runaway - so I "believe" that there is a possibility that they will success.
And I want tosee they success so I want to make it happen.

Do not mess a religion with a bitcoin ☺
Word "believe" have few other than a religion kind meanings

Slowly? As in since 2013 (one year ago)?

Yeah then I agree with you. It will never recover FAST. May never ever recover.

so now it is a religion? hope is a dangerous thing when you are depending on another human to come through for you.

They intended to payback from fees in silence, but got in a squeeze so they had to make it public. But now they lost volume due to that and its getting more and more difficult to make up the lost coins. Its hard to tell but I wouldnt trust that they can pull it off now.

I liked Vircurex and at least it looks like they were honest. But until they show us their books, we will never know.

Anyway, I just checked the volume there and it is mighty low. So, I don't see how they will pay back the missing BTC/LTC/etc. and that is too bad.
I would go back to them but really, all of these exchanges need to have some form of industry wide security (e.g. - multisig, etc.)

IAS

Well I think even if (it is yes) they have a big problems - they are trying to do their best!

I must say I believe they will recover somehow and no one will lose any coins there.
That's what I believe - because I want to believe in it...
As Vircurex was 1st exchange where I did registered ... and till this issue I was trading only @Vircurex ... and sometimes @Bter.

Ha, I pulled my dogecoins out of vircurex when I realized how ridiculously high their fees are. I hope they tank hard.

I just wanted to update this and let people know that they did get to my support mail in the end and I have now received my Dogecoin.  Vircurex is alive, well and - slowly but surely - recovering.

None?
Any decent exchanges smaller than Cryptsy?

Perhaps - which one of them you will called "better" I am asking because I need to find another good exchange

Now I'm glad I pulled out a month ago. Vircurex has withdrawal fees that are too high anyway. There are better exchanges.

What do you suggest for exchanging coins and trading? You only use cash and no bank?

The problem with the current exchanges is that they we're built when bitcoin had a low price. Centralization is not the real problem it introduces risk that should be addressed properly.
Now they should consider themselves as banks or exchanges and up their security. These people have no idea what it takes to run a bank or money business.

Also people are against regulation but regulations can stop incompetent people from running money businesses and stop people goxxing. Anarchy is no better than regulation.

Also bitcoin is a new ballgame, there have always be exchanges/banks losing money, it's all part of the game it should be taken into account.
Exchanges should encorporate strict security rules around available money and offline wallets. They should reserve funds for losses instead of fixing it after the hack.
IMO atleast 90% of funds should be offline and offsite. Offline funds should be retreivable within a short period to allow withdrawls within 24-48 hours. 5% of the total capital should be reserved for incidents.

As a last note, exchanges have made bitcoin trade-able and accessible making the price what it is today.

 I don't think there's even one site that looks trustworthy to me. They all look like they were created as quick as possible to serve one purpose. I can't speak for Vircurex cust serv. but Gox and BTC-e were by far the worst. Only Cryptsy ever responded and corrected an issue in a reasonable time frame. Paranoia for lack of a better word is GOOD! Only we can protect our coins all exchanges are subject to theft.

they not yet did it so do not tell it yet like it is done

Give it a time ...

So, another exchange bites the dust and runs away with people's money?

Niiiice!

When will people will stop trusting these scamchanges and stop fucking bitcoin? Because that's what they do, fuck it. Decentralized protocol with centralized wallets. You deserve it. Your coins will belong to somebody else.

I'd like to get some clarification on the question you brought up also. I wasn't following this issue for very long and I'm interested in getting more facts from those are aware of them.

US forcing us to use regulated exchanges