March 9th, 2014
Statement Regarding Zeitcoin
Dear Crypto Rush users,
We’d like to thank everyone for your continued support of our site. Over the last couple of days there has
been many issues regarding Zeitcoin. On March 5th 2014, Zeitcoin released a mandatory update to their
source code without informing us. We are unable to provide evidence of this as the Zeitcoin Github commit
history has been removed. After we attempted to perform this source upgrade to our daemon, the wallet
containing our funds was damaged. At this point we disabled Zeitcoin trading and withdrawing on the site
while we solved these issues. Once we got it running again, a bug was discovered that stopped withdrawals
working due to an error with transaction fees in this update. This bug went unnoticed for almost 24 hours,
while Zeitcoin trades were taking place on site. Deposits were unaffected by this issue.
Eventually the Zeitcoin developers released a patch to fix this bug, which we went to apply to our daemon.
This resulted in further wallet damage issues and prolonged downtime for Zeitcoin. Upon reinstatement of
trading and withdraws, we discovered that all transactions done during this period of time were lost,
including all internal transactions and user balance changes from trades conducted. During this state of
broken integrity, many users withdrew coins which did not belong to them, and other users lost their coins.
These issues caused major disruptions and problems, preventing us from providing a stable Zeitcoin service
to our users.
Over the last 48 hours we have eaten the costs involved with reimbursing as many affected users as
possible to fix their incorrect Zeitcoin balances. We have made contact with the developers of Zeitcoin to
request compensation, on which they have not done as of yet. We expect them to take full responsibility for
the issues caused by their incomplete software upgrades. Due to the ongoing incompetence from Zeitcoin
and it’s developers we can no longer support it, and have decided to discontinue trading effective
immediately. Withdrawals of Zeitcoin are available for people to withdraw the funds they have in their
balance. This will remaining open for the foreseeable future until all coins are cleared out.
We apologise profusely for the problems people have been experiencing over the last couple of days. We
appreciate your understanding in this matter and continued support.
Regards,
Crypto Rush
you're kind of late with this, read back a few pages to catch up.