Topic: YBC coin confiscated by Cryptsy (Read 5541 times)

 

Still waiting for cryptsy to fix this issue

?

why do we have two different statements about the further proceedings and why does the following quote contain such detailed information?
Is it true???

"language barrier" yeah sure.

That's not what the YBC coin rep stated back in February:

"Yes, there has been progress this last week. The problem started when Cryptsy failed to make a timely update when we changed over to the new YBCoin. I joined the team about a week ago and in that time I have been communicating with Cryptsy to solve this problem. They have the updated source code, they are are working with our development team to get the wallet updated.

I will update our ANN thread when I receive more information. You can post further inquiries to this thread as well if you wish.
https://bitcointalksearch.org/topic/ann-ybcoin-ybc-top-chinese-coin-100-pos-3m-coins-top-market-cap-945161"

Your fault, your problem. Compensate me with BTC for my YBC coins you screwed up on. Take responsibility for what you people did and stop trying to pass the buck!

Quite simply yes there was. Though I understand your frustration some coin "updates" cause issues we cannot send you coins from an old wallet or chain in this case.

There is no language barrier or miscommunication.
That statement is laughable and I didn't "leave" my coins on the exchange.
You have to place your coins on an exchange to trade them.
You should know what you're speaking of before you comment.
Nothing has improved at Cryptsy, they are still a bunch of thieves.
There is no rational explanation for the YBC coin incident, none.

You shouldn't be leaving your Coins on exchanges anyways and developers should be making the effort to get things sorted out with the markets of their Coins. Seen a huge improvement in the customer service in Cryptsy in the last months, used to be terrible but recently had to change my 2FA (old phone number) and had my ticket resolved in about an hour. This thread really comes down to language barriers and some miscommunication.

Sounds like more B.S., double talk and stall tactics.
I have pulled all balances from cryptsy which could be moved leaving only
the hijacked YBC coins and I no longer do business with them.

I urge anyone with common sense to do the same.
I am no fortune teller, just a very careful observer.

You will eventually lose everything if you continue to do business with them.
Read the warning signs, it''s a silly game to them.

doesn't sound too bad though. Could be worse
I hope it'll get done soon. very soon.

So talking with Mullick there were a few issues that resulted in YBC coin being locked up so long. The developer,s and Cryptsy had numerous issues communicating initially. Which led to us almost missing the swap completely. On their part the YBC coin team found an English speaking representative who helped to clear it up.

We are finalizing how we are going to swap the coin on the backside, since it requires developer intervention, and should have the market reopened in the very near future. Hope that helps you guys.

Just got a human response to a YBC ticket:

    On Sun, 22 Mar at 12:03 AM , [REDACTED] (me) wrote:
   
YBC has stated that you don't intend to honor balances purchased after November 2014.  I'd like to know if this is true and If I will ever be able to withdraw my YBC... If not, what will Cryptsy do to compensate customers who were misled into thinking that the YBC they bought were legitimate?  I'm guessing I'll get the same canned response, that my "coins are safe" but I hope not.

Response:

Hello [REDACTED],

YBCoin wallet is still offline while we are doing a swap to a new chain. There is no estimated time given by our technical team but rest assured they are working on it and we will inform all once it has been restored, so you can make your withdrawals.

Your patience is greatly appreciated. Thank you.

I don't know if this is legit, but it at least offers some hope.

I've got a quite official information (not from cryptsy) that cryptsy swapped old YBC to new YBC on March 5th.
Could someone confirm this (cryptsy?) and maybe let us know why it takes longer than two weeks to get things (YBC wallet) going again (cryptsy?)?

could you please give us detailed information and links that prove your statement?

Do not do business with Cryptsy the y are liars and thieves.

Withdraw your coins/funds now, Cryptsy is insolvent.

Don't go the way of Mt. Goix users!

Withdraw any funds you have now!

Cryptsy is just a nightmare right now i bought more than 1k  ybcoins on cryptsy market yet the ticket i submitted, they refuse to reply on the state of things related to ybc wallet maintenance

The people over at cryptsy are a bunch of lying, thieving, crooks who refuse to answer my questions concerning my YBC coin,
when the problem will be corrected, and why I have not been compensated for my stolen coins/money.

Now the price has dropped 30% on other exchanges as opposed to the day I attempted to transfer my coins and sell them at
another exchange.

I think they spent everyone's wallet ballance and are insolvent.
MT.GOIX ALL OVER AGAIN!

Well, it's time to spread the word all over the Cryto world as to what's going on at Cryptsy.

I'm tired of waiting!

and again:
any news?

cryptsy's not able to provide me with any satisfying information about the further procedure.

i not was pretty happy with Cryptsy
Cryptsy has it's own share of problems

Yes, I expect to make an announcement this week. Stay tuned.

any news?

I have contacted Cryptsy again and they are working on the wallet. They had to make some custom modifications to the wallet code to make it work with their site. I will let you know when it is fixed. Please be aware of the deadline for exchanging coins that Cryptsy must meet: 2/24/15. Cryptsy is aware of this deadline and I believe intends to meet it. Please contact me if you have any questions or concerns.

It is 2/13/2015 and my YBC coins are still being held hostage.
I should be compensated for my total balance of coins in BTC and my loss of trading ability and profits'for the last two months.

Yes, there has been progress this last week. The problem started when Cryptsy failed to make a timely update when we changed over to the new YBCoin. I joined the team about a week ago and in that time I have been communicating with Cryptsy to solve this problem. They have the updated source code, they are are working with our development team to get the wallet updated.

I will update our ANN thread when I receive more information. You can post further inquiries to this thread as well if you wish.
https://bitcointalksearch.org/topic/ann-ybcoin-ybc-top-chinese-coin-100-pos-3m-coins-top-market-cap-945161

My YBC wallet at Cryptsy is still locked!

Hello Devin,
Has there been any progress with the YBC wallet.
That "they have not yet given us an ETA" sounds like the same crap I've been getting for the last month.
They should either get a wallet to sync that allows users to withdraw their coins or compensate YBC holders
with an equivalent amount of BTC.
This "no ETA" crap sounds like Mt.Goix, Bitstamp syndrome to me!

I'm tired of waiting and I refuse to accept 30 cents on the dollar less than the market average price of YBC in trade on Cryptsy!
Where are my YBC coins? Has Cryptsy spent them?

We are working with Cryptsy to fix the wallet at the moment. They have not yet given us an ETA, but the source code was provided by us and is legitimate. When we have more information we will let the community know.

Devin - English YBC Representative

"taiyilabs" is also mentioned in the "development log" on the official website as a site where you can download the wallet:
https://translate.google.com/translate?hl=nl&sl=zh-CN&tl=en&u=http%3A%2F%2Fwww.ybcoin.com%2F%E6%97%A5%E5%BF%97%E9%A1%B5%E9%9D%A2

But the Github account+repo only being one day old is strange

I'm not sure, the Github is only one day old and references http://taiyilabs.com/

by the way:
you should reconsider your choice of words....

Its time Cryptsy pruned their list of coins. Its clear they can't handle all of them, yet keep them so to get whatever fees that they can get.

this is all getting worse I guess:
Cryptsy's YBC/BTC-market is not listed on coinmarketcap anymore.

Yes Migga,
the end result is definitely to take your BTc and run far away from Cryptsy.
Now the only problem with the selling of your YBC is that it will not be a 15% loss,
Here is an example:

Allcoin YBC/BTC exchange rate:  Buy orders for YBC

Buy Orders
Price   Amount(YBC)   Total(BTC)
0.00437399   29.81   0.13038864
0.00435753   14.720527   0.06414514
0.00435704   40.9386   0.17837112
0.00434958   7.46   0.03244787
0.00432575   5.18883   0.02244558
0.00430262   48.77258   0.20984988
0.00423034   3.49600741   0.01478930
0.00422963   14.3   0.06048371
0.00422493   37.57041   0.15873235
0.00417540   49.928025   0.20846948
0.00410789   1.893   0.00777624
0.00406332   2   0.00812664
0.00380238   3.68   0.01399276
0.00380001   6.31577285   0.02400000
0.00353091   13.04500823   0.04606075
0.00348992   3.84096197   0.01340465
0.00348990   248.54763115   0.86740638
0.00343033   4000   13.72132000
0.00330000   2.0524852   0.00677320
0.00294638   3.33485497   0.00982575
0.00140001   1   0.00140001
0.00140000   30.30121   0.04242169
0.00102001   2   0.00204002
0.00102000   1   0.00102000
0.00000002   5000   0.00010000
0.00000001   101000   0.00101000

Cryptsy YBC/BTC exchange rate:  Buy orders for YBC

 Buy Orders
Price (BTC)   YBC   Total (BTC)
0.00135678   3.67598284   0.00498750
0.00135677   7.35122386   0.00997392
0.00135675   20.63717074   0.02799948
0.00135662   6.60400000   0.00895912
0.00134377   10.94343479   0.01470546
0.00111005   8.10400000   0.00899585
0.00111000   10.00000000   0.01110000
0.00110900   133.40727556   0.14794867
0.00110000   50.00000000   0.05500000
0.00108000   15.00000000   0.01620000
0.00100066   16.00000000   0.01601056

Take a look at the ridiculously wide gap between the buy price on Cryptsy and the market average.
You'll be losing way more than 15%.

I say every Cryptsy client whose YBC wallet has been effectively frozen should be compensated with
equivalent BTC or their wallets should be released.

are we looking for this here???: https://github.com/ybc2/ybc2
I don't know anything about sourcecodes, sorry. don't know what to look for.

This Mullick person you mentioned is their main developer, I'm actually surprised you had a reply from him

You should see if you can find a link for them of the source code (Github) that you can give to Cryptsy. They would be holding withdrawals because the developers have not notified them of the update and provided the source code. A downloadable wallet would not suffice since they would build the daemon themselves and often do not have the time to sort though to find the latest code unless it's easily accessible for them.

My recommendation is to either ask the developers to get in contact with Cryptsy, find the repository yourself that you can provide a link for them, or sell (last resort).

Can you post a link to the YBC coin version 1.2 wallet? I could not find it the last time I tried and the YBC thread was in Chinese with no recent posts.

I've got some ybc as well and that wallet maintenance has been like that for at least 7 or 8 weeks (probably even longer).
my understanding of seized coins or frozen wallets is that one's balance/coins are not even available for trading.
but, in this case, they are.

anyway,
can't really help you. just wanted to know what you meant by 'seized'.

don't know if I am going to sell my YBC today (with a loss of approx. 15%) or if I am going to wait for a miracle.
I've been patient for so long :-/
I asked support three times about the latest proceedings regarding the wallet maintenance and didn't get a satisfactory answer at all.
might just sell them and get my BTC out of cryptsy and forget about ybc (and cryptsy)

Hi Migga,
No the balance is frozen in Cryptsy's standard coin wallet used to hold coins for the purpose of trading
just as all other coin wallets on the site.

It's not just my wallet as far as I know, it is the entire site effecting every user.
The wallet is frozen under the pretense of "maintenance" and has been for the last three weeks.
Take a gander at the entire post and it should explain, if not let me know if you have any more questions.

Hey Crestington,

I cannot deposit or withdraw to or from the YBC wallet.
I can however trade YBC/BTC but as I said in my post the rate of exchange from YBC to BTC
at Cryptsy is 68% below the market average on other exchanges.

In other words, if I sell 100 YBC coin thru my seized wallet at Cryptsy as a panic, last resort
desperate act, I would only receive $32 in BTC, while on all other exchanges I would receive
$100 for the same amount.

This in essence forces me to lose most of my money if I were to just give up and sell.
Now remember this is not an industry wide drop in price, this is only happening at Cryptsy
where the YBC coin wallets have been frozen.

did you keep your YBC in a lockbox?

In what way was your balance seized? are you able to buy/sell on the exchange? or cannot deposit withdraw out of the exchange?

Has anyone besides myself had their entire YBC coin balance seized by the CRYPTSY NAZI SS.

I have not been able to access my balance of YBC for the past three weeks, and for the past two weeks all I have gotten
in response to my requests to release my balance were messages from some robot named Michelle
stating "I apologize there is no estimated time given from our tech support."

Suddenly after threatening to expose their thievery and stormtrooper tactics and let everyone in the cryptocurrency community know what
was going on, and that I felt they were going the way of Mt. Goix and Bitstamp, I received an email from someone/something named:

Mullick
Technical Support Manager (Tier 2)
Crypto Currency Manager
this message stated:

"There is no thievery. If you can provide the source code for version 1.2 that the Chinese exchanges are using then we will update. So far I am unable to find it. The last know repository is on 0.7.4 and was updates last in March 2014"

But when I let this so-called "Technical Support Manager"  that I had researched the YBC coin version 1.2 wallet myself and actually acquired a copy,
and also that I felt like I should be compensated for doing his job, I have not heard a word back from him or anyone at [Suspicious link removed] conclusion I must say that in my opinion someone at the Cryptsy exchange has taken it upon themselves to steal YBC coins from its clients and/or manipulate the price at their exchange.

The evidence to support this conclusion is that the average market price of 1 YBC coin is around 0.00437637BTC, while the price on the Cryptsy
exchange is 0.00139506BTC. These numbers equate to a 68% loss in value on the Cryptsy excahange as opposed to the market average.
Coincidence!
I don't think so!

If your Currency has also been unjustly confiscated, don't just sit back and let it happen.
Raise your voice in protest, let the people over at CRYPTSY know you're not going to allow
anyone to take what's yours.

We are fed up with these shady exchanges stealing our hard earned money!