Yobit Exchange and the Case of Inactive Wallet Address

thinknow11

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Quote from: beerlover on October 05, 2017, 10:27:33 AM

Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.

However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?

Wallet being inactive or on maintenance is not just on yobit. I have experienced it so many times on bittrex before. However, on bittrex, this does not stop one from continuing with the normal trading activities since you can still exchange. The only thing you cannot do at that moment is not to be able to withdraw what you have with that particular wallet until maintenance is over.

True, but it doesn't take forever in other exchange

You is doing all this deliberately to scam investors/trader

I see no reason why an exchange continuing trading a coin on their exchange after its dev as seriously disassociate himself with the trading activities on particular exchange

Yobit always found happiness in scamming his customers

muhammedayo1

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This is not too good for Yobit.

beerlover

legendary

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Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.

However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?

Wallet being inactive or on maintenance is not just on yobit. I have experienced it so many times on bittrex before. However, on bittrex, this does not stop one from continuing with the normal trading activities since you can still exchange. The only thing you cannot do at that moment is not to be able to withdraw what you have with that particular wallet until maintenance is over.

carlfebz2

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Activity: 2926

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Quote from: BitcoinMarshal on October 05, 2017, 10:12:05 AM

Quote from: warningsigns on October 05, 2017, 12:28:32 AM

I do not understand why, despite the countless complaints and scam accusations here, so many are still confident in trading on this exchange. It's as if they read the scam stories but then are all "neuralyzed" by the same neuralyzer seen on the Men on Black movie.

You will need a ton of patience if you want to wait for Yobit to return stuck funds. That's if they even decide to return it, the chances of which are slim or even nil.

Few peoples don't like to do some search just because of this they have troubles and they start to crying about this issue which was already mentions by many this same case happen here with Yobit we have many complaints and scam accusations cases against this exchange but still peoples using this and then crying its not good must use mind and do some work before investing in scam

I do know some of my friends who are still using yobit exchange I don't know what are the things they do like this site.There are lots of issues but yet they can sustain to live with it which if those situation would be putted into my case then 1st day of using their service would already be long because for sure I would jump on other exchange which would serve me better.

BitcoinMarshal

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Activity: 756

Merit: 504

Quote from: warningsigns on October 05, 2017, 12:28:32 AM

I do not understand why, despite the countless complaints and scam accusations here, so many are still confident in trading on this exchange. It's as if they read the scam stories but then are all "neuralyzed" by the same neuralyzer seen on the Men on Black movie.

You will need a ton of patience if you want to wait for Yobit to return stuck funds. That's if they even decide to return it, the chances of which are slim or even nil.

Few peoples don't like to do some search just because of this they have troubles and they start to crying about this issue which was already mentions by many this same case happen here with Yobit we have many complaints and scam accusations cases against this exchange but still peoples using this and then crying its not good must use mind and do some work before investing in scam

cafucafucafu

hero member

Activity: 812

Merit: 509

Quote from: warningsigns on October 05, 2017, 12:28:32 AM

I do not understand why, despite the countless complaints and scam accusations here, so many are still confident in trading on this exchange. It's as if they read the scam stories but then are all "neuralyzed" by the same neuralyzer seen on the Men on Black movie.

You will need a ton of patience if you want to wait for Yobit to return stuck funds. That's if they even decide to return it, the chances of which are slim or even nil.

Some coins are only listed on yobit or yobit has the highest trade volume. For instance, nolimitcoin.

People therefore store their coins on yobit and deposit constantly, even using yobit to trade others coins. I guess over time they feel like yobit is a legit exchange, but in the end they just shoot themselves in the foot by using yobit when something does go wrong.

I mean when you start using yobit it could be a positive experience but there is a huge risk involved.

warningsigns

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Activity: 896

Merit: 1082

I do not understand why, despite the countless complaints and scam accusations here, so many are still confident in trading on this exchange. It's as if they read the scam stories but then are all "neuralyzed" by the same neuralyzer seen on the Men on Black movie.

You will need a ton of patience if you want to wait for Yobit to return stuck funds. That's if they even decide to return it, the chances of which are slim or even nil.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.

However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?

I think that most probably, yobit will be able to refund users. After all they are quite an established business and i would at least assume that they would change their heart sooner or later since they don't want their reputation to be tainted.

But this process may take a long while.

Right now if you've got coins stuck on yobit, all you can do is wait. Move onto another exchange.

muhammedayo1

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SEC should be able to curb that

thinknow11

full member

Activity: 308

Merit: 101

Assuming the market is regulated, yobit will be facing a lot of litigation by now.

Can SEC help in this kind of stuff?

mobnepal

legendary

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Merit: 1006

Trading on yobit is quite risky and it is even more riskier to hold any coin that doesn't have much trading volume or demand in market. I have left yobit long time ago but sometime I use them to sell my bitcoin for USD and cash them out in perfectmoney but now I am using livecoin for this.

Its better to just search for better alternative for yobit, their support is just shit.

thinknow11

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Activity: 308

Merit: 101

Yobit is simply a scam exchange, 80 out of 100 users will always have a negative experience

alva5763

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Merit: 250

I changed funds from btc to litecoin to withdraw. Lower fees and faster transaction. Also kept low transactions each time.

Herlina

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Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.

I have often heard about it and personally not interested in Yobit exchange service because of this

Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?

maybe investors can have any hope for it, but if you've been disappointed with a service why still survive using the service? if I am in that position I will move to another exchange service

secone

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Activity: 700

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Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.

However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?

Yobit is bad exchanger, he still listing some altcoin with no network, more dead coin still listing at yobit, i dont know how yobit can do it, i think he pay much for server cost to keep old dead coin still listing. '
i recomended to trade at other exchanger like polo or bittrex

enhu

legendary

Activity: 2492

Merit: 1018

Their thread here in the forum were full of request too. Keep bugging them on their chatbox instead, I've seen several time they were entertaining request and so they update the wallet of the coin. Its like the exchange only cares about BTC not the rest of the ALTs.

candy27

member

Activity: 104

Merit: 13

Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.

However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?

The wallet issues have been there for years - the only wallets that work are for the mainstream coins (litecoin, bitcoincash, doge, ether).

For the coins with inactive wallets, you probably need to sell them and buy litecoin or doge and withdraw that.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

when you go in yobit your assumption should be you enter bitcoin and you can only take bitcoin out. anything else is going to need a huge luck to be able to find a wallet that is active and working. i seriously doubt they even run the wallets for 80% of the coins they have listed. i have seen coins that don't even have a blockchain and Yobit still has them in their list!

follow this rule/assumption that i told you and you will be fine so far as they don't run away or run out of bitcoin to pay people.

stomachgrowls

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Quote from: thinknow11 on October 03, 2017, 11:14:52 AM

Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.

However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?

This is actually a common problem with yobit and i dont know why do people do still use up this site.They do have really lots of issues specially on deposit matters. I didnt hear out or any updates on those people who do made transaction which they able to get their coins back.This is why before we do made such transaction we should really search up first for possible recent issues on the site so that we can avoid problems ahead.

tobi4255

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I have read so many posts about yobit, and I am not exaggerating when i say 0 of them were positive.

I was using it briefly to execute arbitrage bets between cryptopia and yobit books. I quickly grew tired of their platform and abandoned that idea.

I would forget about anything short of several thousand USD, and just move on to a more reliable and professional exchange. It is an old story of funds being frozen prior to a scam/theft of funds. I feel sorry for your losses, and can recommend keeping them off-exchange if your not actively trading. If you are daytrading coins, then move them out at the end of the day.

Yes, it will incur withdrawal fees but it will be worth it the day you wake up to a "site in maintenance mode" message.

Topic: Yobit Exchange and the Case of Inactive Wallet Address (Read 525 times)