Topic: WARNING Cryptostocks.com INVESTORS SECURITY FLAW - page 3. (Read 17133 times)

What a joke this guy is, their website look like a 12yo made it.

They use the name cryptoworld all over, yet their domain is cryptowrld.com without the 'o'.

On their website it show @cryptoworld.

Crypto::stocks seems to be a losing proposition all around.  Now P2PDVC asset is turning out to either be another scam, or yet another "hacked" account.  This is completely unprofessional either way.

Would it even really matter if you had 2FA? Cause if you're using 2FA wouldn't you likely have the login auth sent to your email anyway? Thus if they have access to e-mail they can get the auth then.
Then again if you are using a site/email that is this important your password needs to be pretty much un-bruteforceable, not just "smokeweed555" but rather like "diu@E3O-)SvV1!n^mk#9iPz$"
*shrug*
I bought some shares of Altswap a while back thinking it showed promise but watching the launch deadline come and go a month ago does not bode well, glad it wasn't much.
But, as a project co-owner on cryptostocks, I can say this doesnt help people feel safe about using the exchange :/

FIREMINE, MINECO, and ALTSWAP exceptionally high scam-probability.  Avoid at all costs!!

Yes they need to improve there customer relationship.

The owner of Cryptostocks is Kumala https://bitcointalksearch.org/user/kumala-41776 last logged in March 05, 2014, 03:30:37 PM on this forum so you should be able to reach him by PM here on bitcointalk to if you need to get in touch with him.
Kumala is also the majority(70%) owner of Vircurex exchange. I did read somewhere that Cryptostocks is under Vircurex as in owned by Vircurex/registered under it, if that is the case you probably have a few hundred small partial owners of Cryptostocks to in the form of shareholders in Vircurex but i haven't seen Kumala either confirm or deny whether Vircurex owns Cryptostocks. But in either case Kumala is the one running the ship on those two company's.

The sooner that people stop using Cryptostocks, the better. When scams are discovered on Cryptostocks, the 'contract' levels drop from White/Gray/Black, then there is a trade stop, and then the stock is delisted so that the 'projects' page isn't filled up by the numerous scams that have been perpetrated there.

Labcoin? Delisted and gone. Scrypt Asic International? Delisted and gone. Litecoinbank.org? Delisted and gone. The place requires 1BTC and no verification for someone to list a security - it shouldn't be that much of a surprise that scams abound there.

Cryptsy and Cannabit are the ONLY stocks that anyone should be looking at there - don't even think about the others and the new ones. If a stock on Cryptostocks doesn't even have a bitcointalk thread? Forget about it.

Cryptsy gets a pass because of how big it is (and was verified by the announcement directly on Cryptsy).

Don't use Cryptostocks, Kumala could care less about people getting scammed.

There's no doubt that FIREMINE/ALTSWAP/MINECO is a scam and it's unbelievable that CS allow them to keep going, one second they claim to have been hacked, the next they are leaving CS and after that they try to promote there next scam MINECO, can CS/Kumala please be kind and explain exactly what's going on there.

1) The know kickbacks Kumala/Cryptostocks gets is 1 btc per listed project so 3 btc from this obvious scammers listings.

2) 0,15% from both sides on bought/sold shares so before the mess started in altswaps listings maby 35 btc*0,003=0,105 btc from altswap and 63 btc*0,003=0,189 btc from firemine Mineco seems to have sold 150 shares so 7.5 btc*0,003=0,0225 btc the rest of the 5020 must be a few that transfered over shares but i look more likely that it's alswaps way of scamming investors from the dividend that they now pretend to be paying some of, but in reallity most of it is probably going back to themselfs throu accounts they control witch would be breaking Cryptostocks rules as the issuer is not allowed to get dividend on the shares they have in there possestion.

Each transfer(not per share as far as i understand it) Cryptostocks take a fee of 0.005btc*2(both the one trading in and the issuer pays that) for. The 0.01 per stock that firemine announced for traing in firemine to mineco goes to firemine.

Each withdrawal Cryptostocks charge 0.005 btc for.

If Cryptostocks actually takes bribes to let actual and obvious scams to carry on scamming people on there exchange i don't know, hopefully not.
 

I agree that it's possible that cryptostocks might be getting kickbacks.

When we created our account, immediately we sent all our information for verification.  Even with all this going on we still have not received anything back from cryptostocks.  We send image for the home page to be recognized more, but all the miners images get posted such as COIN which disappeared within  a few days.

It makes it extremely difficult to start an legitimate IPO, when the service you selected is doing nothing to protect from these scams.

Cryptostocks owner, (I am assuming one person) need to improve the customer relationship or it a sinking ship.

Yeah, I couldn't agree more. It brings down the integrity of the whole exchange. I have a very limited amount of stock on CS now, mostly because the quality of companies are so poor. I'll being moving out of those asap. Havelock, at least from my experience seems to quality check the companies that they exchange a little more thoroughly. 

Could not agree with this gentleman more.  Obvious firemine, mineco, and altswap are a singular scam effort at this point.  These are only a few in a long-line of scam-shares that have been posted on CS.  The fact that the CS admin can lead one to only one of two conclusions:
1.) Some sort of obvious kick-back in the aftermath of each scam
2.) Admin is earning so much with transaction fee's he figures, if it ain't broke (insofar as to what it earns me) why fix it? 

What the hell is going on.  It's obvious at this point that FIREMINE/ALTSWAP/MINECO/maybe others?  Are a SCAM!!!  This "hack" has nothing to do with cryptostocks, altswap is just trying to rip all of us off by dumping all the shares they have to clean up the order books and abscond with the money.  They even went so far as to issue 100000 more altswap shares to clear the really low buy orders out.  What is more absurd is that their mineco is still listed, and being traded!  All of these listings have the same owner "[email protected]".  This is freaking absurd.  Why hasn't cryptostocks come here to a) Refute claims that they are easily hacked and b) Warn traders about this OBVIOUS SCAM!?!?

After seeing this thread I lost 0.12 BTC to altswap assuming they were acting in good faith.  Had cryptostocks been paying any damned attention to how altswap is manipulating their system, they would have halted trading on these SCAM stocks immediately and refunded as many traders as they could out of ALTSWAP's account balance.

Scammers will be scammers, but cryptostocks.com making no attempt at all to monitor and resolve this situation makes me extremely weary of their service.

lol thats funny coming from someone running a lottery.  what a fucking con job.

So what is going on with FireMine? I cannot upgrade my shares...it says under trade-in that I am allowed max 0 shares. I have 16 shares...

We do live by what we say.  

We have sent everything into Cryptostocks that they required, beyond that, it's in their hands.  Once we get the added information from them, we are sure things will get updated.

Yes, we re-posted, felt it needed to be said again.


*********************
Thy:

Would you not agree that most (if not all) mining stocks are scams?
It's unbelievable that hundreds of BTC BTC are getting tossed into these.

All we wanted to point out is more due diligence need to be taken.

Foremost, I am the President/CEO of PM Poker, SA, which owns Quinto BTC.

Seeking investors for a Bitcoin business is extremely difficult, given the bad press on Bitcoin.  So it seems the most logical solution would be to seek investors from the Bitcoin community; Bitcoin holders who are already aware of the digital currency and its present value. After reading favorable articles, I elected to use Cryptostocks to seek investors for my own company, Quinto BTC.  I would note though, that none of the articles I read mentioned anything about "Bitcoin mining".

As for all these claims of hacking and losing shares, ironic that it is only the mining stocks that have these issues.  When investors are sending funds to companies on Cryptostocks, they are doing so at their own risk, especially since Cryptostocks does not verify anyone's identity.  In my opinion, this should be an integral and mandatory process for every company seeking investors on Cryptostocks.  It would add some layer of protection for the investor, and would benefit Cryptostocks as well.

Security is critical, if accounts at Cryptostocks have 2FA, then reset password also requires this level of security.  Cryptostocks, please change this policy as soon as possible.

A little due diligence can still be done, so the investor can have more confidence that their investment is being used as publicized.  We've all seen/heard of the scammers who publicize an investment in a company, only to see that "company" spend 1BTC, then earn 90BTC, then disappear.  This is why due diligence is a must.  It's tempting to try the "get rich quick" scheme when investing, but you also have to understand that there are shady people ready and waiting to take those Bitcoin from you, and will employ every technique at their disposal.  "A fool and his money...", so to speak.
 
My point is: Be wise. Take your time to research the company before investing.
 
Is their information public on WHOIS?
When they give an address, is it verifiable?
Do you pick up the phone and call?
Can they actually produce a verifiable business license?
 
These steps may take a couple of days, but will be well worth it in the long run.
 
In closing, to everyone on Cryptostocks:  If it sounds like a "get rich quick" type of posting, step back, take a moment and ask yourself: Am I willing to lose what I put in?  If yes, then proceed with caution.  If no, do your due diligence.
 
Sincerely,
Steven Swanson,
President/CEO
Quinto BTC

FIrst off get your facts straight.  Im not the CEO of fasbit which you alreaday eluded to and as far as I know I am the first one to inform him at the very time i posted about the comprimise here.  Second  I am not aware of FASBIT e-mail being hacked, i was aware that ALTSWAP shareholders had a similar issue and that is why i posted here.  The only proof I have is my drained account and the confirmation emails in my e-mail account which show everything being sold off.   they didnt have access to my email.  the email to confirm the password reset was sitting in my inbox unopened.  Take your unintelligent trollish comments somewhere else.

So you have no proof that the site was in trouble.
You also have no proof that you were hacked.

You do know that fasbit ceo email HAS BEEN COMPROMISED as they admitted,
yet

you go around in every thread blaiming cryptostocks, as they did.

You are a moron.  Im not attempting to start panic and im not a CEO i am a regular shareholder and my shares are gone!!!!  Cryptostocks has a flaw somewhere.  The hacker didnt have access to my email account either.  the password reset e-mail was just sitting in my inbox still unopened as were every other automated e-mail that was sent in relation to it.    Go troll somewhere else!!!

read carefully:

They (fasbit/grid/mineco etc) have compromised their email account, or so they say. They are posting announcements right now, copypasted if you please, saying that the site was compromised. They have mentioned nothing on any of their products listings about their failure, nor they did so in any of their forums.

They are are attempting to start a panic in cryptostocks now, with those announcements.