Bitcoin Forum

Anyone knows whats the thing with cryptostocks.com? I only get "We're sorry, but something went wrong." when i access the site.

Kumala, the owner did not care about the site since ages but now it stopped working completely?

Looks like the CryptoStocks gig is up. Horrible platform since day one and offered little to no user security either.

Cryptsy were traded there, did Cryptsy bought all the shares already or were they still being traded?

And i dont want to start with their stupid 2FA. If the email of an account is hacked then 2FA is sat back. And you can circumvent 2FA with some codes, lowering security very much. The only safe thing to do is putting shares into vault, then an attacker could not take it.

Though kumala abandoned his site since ages already, no support anymore, even for important things.

Issuer now will have problems.

Not sure why anyone had anything to do with that site after the exchange run by the same bozo "lost" a zillion coins.

Everyone needs to stop being so gullible, there are people trying to take your money, it's a lot harder to get it back in bitcoin, so stop giving it to people who have already failed once or twenty times.

Thats correct. Though i took the risk because a certain security was only traded there. And since kumala claimed the issuer would have always a list showing how many shares someone has, i decided that i can buy shares, put them into vault and be safe. My issuer would know how many shares i own even when the exchange vanishes. For me that is true but for those that didnt enable that option its not true.

Well... i guess there would still be some user coins lying around on cryptostocks. I wonder what will happen with them. I mean is kumala known in real life?

You raise a valid point indeed. Plenty of platforms claim to offer huge services and fail to delivery. Luckily for me, I had nothing of value stored there, but I can imagine some people probably had.

No one had anything of value there. All the numbers on that website were worthless when his exchange "lost" all those coins. People may have thought otherwise, and they may have allowed some people to cash out those worthless numbers, but if you still were expecting to get coins out of there this long after I'd have to say you were sorely mistaken and you should be questioning how you didn't see that coming.

Still, might be some bot traders having coins there or other people that waited for fill their order for shares. When the site remains down and kumala isnt paying out the coins then he most probably will get prosecuted. Bitcoiners arent so forgiving anymore nowadays.

Those coins have been gone since his exchange got "hacked." You are a fool if you trusted him after that, he didn't get prosecuted for that, he won't get prosecuted for this, and even if he does the coins are gone and unlikely to be returned.

Im not sure why you get personal. I already explained that i didnt trust him and secured the shares i had. My issuer knows the amount of shares i owned so i cant lose them since im in contact with him anyway. The $25 i still had on there to get some shares in case someone drops theirs are gone probably but thats nothing i would go doing a lawsuit.

I dont know what his first scam was but when he got many coins and no one came behind him then it looks like he isnt known in real life. Is that correct?

Don't take things so personally. I use the royal you.

I don't know or care who he actually is, I just know that I know he "lost" a lot of coins in some other venture, so that there is no reason for anyone to continue doing business with him.

He is either too stupid or not trustworthy enough to hold coins or anything for anyone else, if I was invested I n something and they couldnt move their shares elsewhere I would have sold and got out what I could before i was left with nothing because it was obvious that this 2ould happen 3ventually.

Search for kumala and vircurex [or something] for more details, but don't expect any sort of resolution.

Wonder when someone will come up with a proper implementation of the idea behind cryptostocks :)

Ah ok. :)

I already tried to get in contact with kumala some months ago because of some important info about the scammer who scammed with labcoin. He could have helped the case but he did not react, regardless of all the ways i contacted him. I asked on the forum if someone know him and if i can get in contact. Nothing too. It seems to be impossible to get in contact months before already.

The only thing i learned was that others had problems with him too. For example issuers that wanted to take over the project and run it, because they would be able to provide a better service to their shareholders. The offer was good too. But kumala didnt react or was too d... ehm... unsmart to even get knowledge of the offer. Thats clearly not how a business has to be done.

And i would not have divs paid out there anymore since when something would have happened then no help would be there. And you never would know if the divs wouldnt have been paid out shortly before the website vanishes.

So luck in bad luck i guess.

I just noticed that I received an email that looks like it's trying to social engineer me using information from Cryptostocks. So I think the site has been compromised.

can you post a screenshot of it? (with headers visible?)

=squeak=

i had 0.02 btc and wanted to "invest" more in the stocks there,it cost me 0.02 btc to learn never to invest in this type of websites again ...lesson learned :)

They were still being traded, I believe a total of 7k to 7500 were still in circulation. Though apparently Cryptsy hasn't actually paid out for the last 3 months.

This falling apart isn't bad luck, it's bad intentions/process. MAYBE we can say the people that lost coins in the original "hack" on his exchange was bad luck. But anyone that lost anything of value after that point in time made a bad decision by expecting him to come through.

Now, how to sell the shares or receive dividends on cryptsy?

You need to contact cryptsy. If they were smart they will have the list of shareholders... at least something like that. ::)

Cryptsy should be able to let you claim your shares.

So kumala is really a person no one knows? ::)

cryptostocks.com now began to work )

yep, back up for me too... my account looks as it should... (not counting the bugs I've bitched about a long time but never gets fixed...) you guys seeing any issues with yours?

=squeak=

The information presented in the email I thought was trying to social-engineer me (which I reported a couple of days ago in this thread) seems to actually match the information on cryptostocks.com. So maybe it wasn't an attack on me after all (or, maybe the attackers were able to take over the site completely and now operate it). Who knows.

I made a withdrawal and it went through. So it looks like it wasn't so bad after all.

Interesting... thats good. That would allow shareholders to be informed by issuers that they NEED to set up the option that their email address shows up in the list of shareholders the issuer gets mailed daily.

Without that option the shareholder will simply not be in the list. No entry without an email, so that it would be easier to identify a shareholder that claims he is not in the list and has X shares. If it would be the case then the shareholder could be identified by knowing his exact shares. Though it isnt the case.

So at least this option can be enables so that the issuers know who is owning shares.

Still... the list is stupid. The only verification it gives is an email address. The one you registered with on cryptostocks. So when shareholders have to be identified through this then i already see issuers being fooled by scammers sending out emails with fake sender email. Through smtp.

Why didnt kumala include a bitcoin address? He could have made it mandatory to insert a bitcoin address you control and you can sign a message with. It would be so much more private than sending out email addresses. And safer.

Its a bit of luck that cryptostocks is back.

So the site is back...Interesting. No warning, no update, nothing. So much respect for people who have an account there.... :)

Thats how kumala handled cryptostocks since a long time now. Many had emailed them about things that are rather important but no support was given. Seeing that... i would not feel well knowing a dividend for shares of mine would be paid out there. What if something goes wrong? I would not know if i could do anything about that then.

Seems to be down again.  >:(

Down for me as well, looks like they're taking holidays too. Nothing from support?

There is no support. Kumala the owner does not react on anything you send him. I wonder if he will fix the missing email function for users. That brings trouble to alot of people.

Did not know it still existed. You have to have balls to use this site, it works in on-and-off mode since a couple of years already

That's right. Though unfortunately, when you have alot of shares of a security and you can't sell it then you are at the mercy of the issuer if he wants to move to another market. If he doesn't then you are forced to use cryptostocks. And if you have enabled to get emails when a withdrawal is requested then you are fucked.