Bitcoin Forum

Hi,



I waiting a Withdrawal (31 BTC) from BitMarket.eu 3 days.... is normal?

How I can contact them?

All withdraws I made there so far, where instant.

Are you sure you Buy has been confirmed by the seller, or is it still hold in escrow?

You can ask questions them here: https://getsatisfaction.com/bitmarket

Or contact them by clicking on contact in the lower right corner of the Bitmarked page.

I have the same problem. Frozen bitcoins for 3 days, tried to contact bitmarket admin 3times and got no response. Help me please

Same problem here. The bitcoins were marked as frozen when I did the withdrawal on Thursday and they have been that way since. Previously all withdrawals were done instantly. This could be a measure to prevent fraud, and I think the guys who run bitmarket.eu do it on the side so it is taking a while for them to manually confirm all withdrawals. It also could be that they have misappropriated/stolen the funds of users. Esp. them no making any statements, makes me feel somewhat uneasy.

same problem here. I hope it's just an over-zealous anti fraud system. If not, it may mean that they just can't pay what they owe!

Hm, that's really strange. In over one year, I didn't have problems with BitMarked once.

I posted in the bitmarked thread to get in contact with you: https://bitcointalk.org/index.php?topic=5441.msg1387355#msg1387355

Sorry, not more I can do.

Thanks Akka! I too have been using bitmarket for a couple of years with no problem. I have explained my situation in details here https://bitcointalk.org/index.php?topic=129851.0
(Sorry for the double post, i found this thread after I have created mine)
To be precise my transaction was split between 2 sellers. I was able to make one withdrawal but the BTC were frozen for the second one. My bitmarket nick is the same as in this forum

I received it today.... 4 days....

They lost a client.


Thx Aka

Same here, 4 days. It will have to be a really good deal before I buy something at bitmarket.eu again.

it's been 6 days and my BTC are still frozen!

Again the question, does Bitmarked not pay them out, or are they shown as frozen in you account?

If they shown as frozen in your account, that's normal. This means the person you bought them from hasn't confirmed he got paid yet. In this case Bitmarked hold the BTC as long as the seller confirms he got paid by you.

In this case you need to contact the seller to confirm payment.

Hi everyone. I'm here with the same problem as I see everyone else is having. I created an Bitmarked.eu account a couple of weeks ago. I transferred 34.1 BTC into that account. I then tried to withdraw my BTCs.. It's been 5 days now, and my BTCs have been frozen all that time. I've read through the forum that a transfer should be instant.. well, unfortunately this doesn't seem correct. All I
m doing is transferring from my bitmarket account to another account I have.

How can I get this through? I've e-mailed admin, and followed up 4 days later, no reply. I've been to the getsatisfaction link too and no reply either.

Here's a screenshot:

Account history
Time and date    Amount    Type    Confirmed
07.12.2012, 7:09:29    -34.1 BTC    Out    No (0)
07.12.2012, 6:01:01    34.1 BTC    In    Yes


Thanks for any support.

No, that isn't right.

It is not right what you say.

I have bought from two different sellers and both have told me that they have not received any message with the link to confirm the arrival of the money.

Both vendors have tried to contact the administration.

nope that's not how bitmarket works. The bitcoins don't appear at all in your account until the seller has received the payment. What happened is that the seller released the BTC, they then appeared normally in my account but after I tried to withdraw them to an external wallet they got frozen for no reason! now bitmarket is asking for donations. It's just what I thought: they put the BTC as frozen as a mean of postponing the withdrawals because they just can't pay!

I have now received my BTC though. Not sure how long it took. I'm pretty sure they appeared as frozen in bitmarket at D+6 but according to my wallet the transaction was made at D+5

i have made 2 withdrawals, the one was a small donation to bitmarket. the withdrawal to the bitmarkets account was confirmed almost immediately, the other one is still frozen for 3 days now... i tried to contact the admin but no reply... this happened to me about 10 days ago again with another withdrawal which was confirmed after 5 days. is any employee here to help?

The withdrawals are not automatic by "maintenance" and takes some days/weeks....

But I dont understand something... I receive the payment on 9th.... Why the other people with pending payments dont receive it too? ( example: bm2013)

Are making selective payments?

I have 25btc in my account that are frozen after a withdrawal.
transaction of dec. 6th., now 9 days later.

NO communication, NO reply on my e-mails.

Meanwhile they are asking for help and donations.

If they have a good service, the could just charge 0,5% as a fee on all transactions. But do not steal from clients!

This is bad business.

im waiting on coin withdrawal as well, over 30 btc :(

Can someone please contact the admin or some employee? My bitcoins are still frozen. Some help please

I'm afraid this whole thing might be a scam, and both the owners and the money are gone.

I'm also waiting for my withdrawal request to be processed.
Has anybody recently gotten their Bitcoins from bitmarket?

Maybe they have been hacked but don't want to damage their reputation and keep it secret.

Same here... 18BTC frozen  :( for 2 days now

The same problem

http://img687.imageshack.us/img687/6328/bitmarketeu.png

same problem here

after withdrawal my 19 btc got frozen ~10 days ago.

i send emails to bitmarket.eu support every day - no reaction so far.

And the site keeps doing transactions. If he's pulling a scam he's getting seriously rich...

Same problem here.

Bought 20 BTC 13/12 and withdrawn same day.  Frozen, no reply from admin.

Looks like a scam to me :(

So is there anything we can do?

we could club together and hire some polish thugs that get our money back :)

dont know. does anyone have an idea what we could do?

I've been a long and loyal customer Of Bitmarket.eu (with donations) but since I issued a withdrawal on December 6 from my account so, 13 days and 5 emails later no btc and no response whatsoever. Is there somebody we can reach?

Thanks

damn exchanges

why can't some smarty pants invent an exchange that cannot scam its customers?

The website seems to be Polish.
According to the whois entry for this domain (see http://www.eurid.eu/) the registrar is "Domeny" (http://domeny.pl/).
The registrant is anonymous.

Maybe we could contact the registrar and inform them that one their customers is involved in fraudulent activity and request the full name and address?
I am not an expert in Polish law (European law?) but there has to be way to bring the owners to account and force them to pay out the Bitcoins to their rightful owners.
We're talking about several thousand Euros here, aren't we?

I'm waiting on a withdrawal too, started to withdraw 20btc on the night of Fri 14th and still not got anything. I've tried emailing the admin but starting to worry that ill never see my btc. I tried checking out the whois information myself in case there was another contact email.would be nice to take it down a legal route but don't know how international law would apply to something like bitcoins

Same problem, tried to withdraw, but they just ended up frozen with 0 confirms.
Last time I did this, this was instant. Did a bit of searching, and ended up here.
Seems like this problem has been around for a few weeks now.
Anyone any ideas what might be going on ?

Many months ago I had issues withdrawing larger quantities of bitcoins (15+) and there was some bug or security lock. It would just give an error message but not show that any transfer had been initiated, so no confirms either naturally. It was possible to withdraw very tiny amounts though, 1 btc or below. A few days later everything went back to normal.

I also posted in this thread today https://bitcointalk.org/index.php?topic=131380.0

So, how safe is it to use bitmarket right now? Why would the page still be full of sell offers if the problems are of a general nature? Still hoping this is an issue for some people only and not everyone.

i have currently 700 BTC frozen..... when this turns out to be scam i will be REALLY angry....

Hahaha. How can anyone be so reckless to leave 700 BTC at ANY exchange? I wouldn't even leave 50 Btc at MtGox or BTC-e. And even 20 Bitcoins for no longer than a few days. Sorry, but f a c e p a l m.

disclaimer, this doesn't actually help.
As I said there must be a way to get these coins as this site is not hosted offshore (see here: http://www.dnswatch.info/dns/dnslookup?la=en&host=bitmarket.eu&type=A&submit=Resolve and here: http://www.dnswatch.info/dns/ip-location?ip=178.217.184.228&submit=Locate+IP)

This is the admin, send him a PM:
https://bitcointalk.org/index.php?action=profile;u=4554

I wonder how many BTC's are frozen but i think i might go in ten thousands of Euro's here. If you see the transaction logs...
Sellers are keep selling unknowingly what is happening here. They would probably keep selling if they know, it's the only way to get rid of your bitcoins.
I don't think anybody is getting his bitcoins, some people (like me) found their way to the forums.
Imao I think we are f*cked especially because the owner of bitmarket.eu isn't answering any mails.

unfortunately the frozen coins cannot even be sold......

indeed i should not have relied on previous good experience with that site...

I will go to the police by tomorrow.

It's the same with me. I never had any problems with bitmarket and I found the idea of more or less directly trading with others very appealing.

In which country will you go to the police?

i live in Helsinki, Finland. The authorities here are however very inefficient and slow. Therefore I might consider also going in Germany where i still have a second household.


The problem is of course that it might take years till something happens

M4v3R, the site owner, posted an update. Not a good one I'm afraid.

https://bitcointalk.org/index.php?topic=5441.msg1413156#msg1413156 (https://bitcointalk.org/index.php?topic=5441.msg1413156#msg1413156)

I'm glad he didn't leave us all in the dark and decided to come forward with this.
I was quite shocked when I read this, but after a few hours of steaming I calmed down a bit.
He seems sincere enough that he admits his wrongdoings, and does want to fix them.
The ideas he has on how to do this are not all that bad, and I personally hope that bitmarket can survive this mishap.
Not just so that the ones affected can get their bitcoins, but also because I think Bitcoin can miss another blow to the head (even though this one would be related to the downfall of Bitcoinica ).

It's ridicoulus, people can still deposit and buy coins, although they can't withdraw them. Close the site completely and work things out, ffs  >:(

Since Bitcoinica has been down for quite a while now, I think that's what he's been trying to do all along: sorting things out, but without cutting everyone off. But now he's in over his head, so hence the confession, and with it, a cry for help.
It seems that there are indeed people willing to bail him out ( certain conditions apply, off course).
So let's hope they can work things out, and that bitmarket doesn't get dragged down along with Bitcoinica.
They guy made one hell of a stupid mistake, I'm not trying to justify his actions in any way.
But let's just hope the hope some solution can be worked out so that bitmarket does not have to cease to exist, that it becomes profitable, and that everyone involved can get out of this without anyone being ripped off.
Yes, Bitmarket is in some serious shit right now, but it does not have to be the end of it.
It's in debt (to it's customers), but with a good business plan it can crawl out of that pit, and repay the affected parties.
Might take some time.
Seriously hope that guy learned his lesson though ...

https://bitcointalk.org/index.php?topic=5441.msg1413156#msg1413156

 It was evident that he doing selective payments.

These things sometimes happen.  :-\  Do not think anyone can trust someone that make selective payments to maintain unsustainable pyramid.

And still are people buying coins, why doesn't he close it?

Looking at the transaction log, yes, people are still buying coins.
If people would stop using the site, he would be in deeper shit.
We now know that he has lost quite a substantial amount of BTC, but we also know that that happened a few months back.
In the meantime, he has been able to keep it running.
If they rework the site and charge a small transaction fee, over time they would be able to repay their debts, and become profitable.
Let's just hope that happens instead of simply closing the site, because that would be bad for all.

For the last few months bitmarket has been operating like a bank - everything works fine until too many people decide to withdraw their money.

i have(had) more than 30 btc, and they screwed me up...and i have to fight against a buyer  :'(
if i can get my btc's back, i'm done with bitmarket.

BTW what is the best wallet/market online?
is blockchain.info good or do you have any trusted site?

I wouldn't use a online wallet anyway, and specially not after this story.
The best market at the moment is probably bitcoin-24.com, if there were any problems they were fixed soon and I get fast responses.

i wrote him a pm and ... i still can't believe it ... he released my frozen 19 btc !!

thx, didnt expect to see them back after 2 long weeks

well, someone else just lost 19 Btc for sure

yeah i know   :-[

at least he's trying to make up for damage he caused

He seems honest but 19,980 bitcoins are missing. That's roughly $270,000 worth. I just don't see how it can survive that.

To put things in perspective, Gox makes about 10k btc a month. Bitmarket is no Gox, so it would take them longer than 2 months to recover from this, but it's not impossible. Hopefully they can get some investors to bail them out a bit, but it is possible that they can survive this.
I for one hope they do.

bitmarket has had transactions of roughly 60,000 btc in one year. That means an average of roughly 5000btc of transactions a month. Even if you put a standard 1% fee on them that would only net you a return of 50btc a month. That's about $650 a month. Who would invest $270,000 for a return of $650 a month. Yes you could argue that it would be possible to get more users and more transactions but that is an enormous risk, especially since most users may have now lost faith in the site.

I just don't see how it's feasible.

did it went like this? -> http://www.youtube.com/watch?v=_nVk25ZvTkU

Hello all,

Again, I want to apologize for this situation. I didn't have any right to do what I did, but it happened and now it's on my head to straighten things up.
Yes, it seems very hard for Bitmarket to earn this much of money, but I think it's feasible. There are already several ideas to make this work, including:

- finding individual investors that decide to use their funds to help the current situation and receive any future profits from the site
- distributing the debt as shares available for everybody that want to participate
- at the same time, the site would be improved to maximize it's potential

I understand that some people have "Newbie" status on this forum and can't participate in main discussion. So if you have other ideas on how to proceed, or just want to get in touch on this subject, please just PM me.

Close up shop and get out of bitcoin.

I classified my frozen bitcoins as 'lost' anyway
So...whatever
You know what the worst thing is, i even bought and donated some btc's while the frozen shit allready hit the fence  :-\

Thanks for this wonderful advice. It would be really the best solution for people with frozen Bitcoin...  ???

I don't think you are in a position to comment on other people right now...

And I think you should think about your (!) posting ...

Well, some people need a lifetime to make up for such a debt, particularly all the interest in the end. I don't know about the legal situation, but if you owed anyone that amount of money in Germany, you'd just declare private insolvency, wait 6.5 years and you're off the hook. You'd have to have a job and follow a lot of rules etc but you could start over again after that time.  People do it for a couple 10k Euros already, let alone 200-300k.

Good luck making up for the loss, but 20000 bitcoins..omg Your only chance of repaying would be to get a loan somewhere else and buy buy buy if bitcoin prices ever fall to 5 or 2 Dollars again. In other words, finishing your short position by waiting. It might be forever though, but if Asics hit, who knows what will happen to the btc price.

More like this.

http://www.youtube.com/watch?v=-z9Jwp2x86o

Bitmarket.eu is finally open again (as per the webmaster). Apparently people can deposit BTC, trade and withdraw them, but people that had funds previously will have to wait until they have enough funds to pay back.. (as I understand..)

Look at this post if you're interested..

https://bitcointalk.org/index.php?topic=5441.msg1413156#msg1413156

Don't you love the arrogance of this guy?  He's stolen from who knows how many people and he's being flippant when he disappears again and people start to worry.

I think people are mad for continuing to use this exchange, what's to stop him doing it again?

Still no time scales for when I'll get my coins.  Maybe he should try communicating this to people rather than being a smartarse.

It's time to start making repayments in installments, so that we all can see at what rate the money is being repaid. Also I would like to be able to sell my bitcoins on hold to another user. It would be nice if you could setup a separate market for the bitcoins on hold.

There are some options still being discussed, but the platform would need cooperation from users. I think there will be some "official" communication on the current investment plans quite soon.

This is really unbelievable! Instead of repaying his debt, M4v3R has somehow managed to lose 600 more BTC! There is no way I'm going to invest in this fishy business now. M4v3R should really take out a loan (from a bank, family or friends) to repay the users for their losses, and then look for another occupation. The only other option is that nobody gets paid and M4v3R does some prison time for fraud.

Edit: I was mad as hell yesterday, and I'm still mad. However, I do NOT wish for M4v3R to go to prison. Nor do I want anything else bad to happen to him. I was just venting.

I am quite unhappy with the latest development. I am basically being forced into cooperation. I don't want to get short-changed in the process. If the value of coins invested is being fixed to the exchange rate from December 2012, then I'm not investing.

Well, 1 frozen coin is 1 share in case you decide to invest. The question is only how NEWLY invested money is valued in terms of shares. The current proposal is a fairer solution for people that invest NEW money in order to pay back frozen coins...

It is always possible to change back to "non-cooperation" and formally send a claim against bitmarket.eu, but your help to solve the situation in a best possible way would be highly appreciated

How are the personal loans coming? Without personal commitment from the owner to make up for the recent lost coins, I don't see how investors would be willing to invest.

for the old admin i think it is basically impossible to get a loan

That is still a problem if a new coin buys a bigger share than a frozen coin. I think in terms of fairness it is fair enough that potential new investors have a reasonable choice of opting out. We who have frozen coins are pretty much forced to cooperate or face losing all of our money.

I propose a division of shares into A and B classes, where A shares have voting power and B shares have not. Otherwise I prefer the option to receive a one-time payout of 30% of the coins owed.

but since the frozen coin is lost anyway it is "easier" to invest than really taking NEW coins into this kamikaze project that might never be able to earn back all the debts that were accumulated by the old admin.

But if you have different proposal you can contact the admin@bitmarket.eu
I think in his mail there were some alternatives presented when i am correct

I don't agree and I think your view is the complete opposite of mine. Nothing is "easier" with our situation. We don't have the luxury to just forget about it and spend our coins elsewhere. Our coins are trapped between a rock and a hard place, and we have a few poor options to choose between, one of which is to form a partnership with the man who embezzled our money in the first place. I thought the point of this whole operation was to make amends and pay back what is owed. Not to offer the crappiest deal any of the victims would still be willing to accept, while avoiding going to prison. I could be offered pennies to a dollar, and technically that would still be more than nothing at all, but at that point I wouldn't be willing to cooperate any more.

If the decision stands that new coins will have more than twice the buying power of frozen coins, then I will be choosing to collect 30% of my coins and leave this whole mess behind me, (provided the offer still stands.) Then, at least I can choose whether I want to spend my coins on an investment in this company or black tar heroin.

I totally agree with you...unfortunately everyone of us can only decide between crappy solutions. You have full opportunity to invest (whatever amount of) new money and get your part of shares for that.

When you chose the 30% payout it would also be 30% fiat payout based on the price on december when the coins got frozen. Or you can chose to not-cooperate and see how much money you can actually "sue" from the old owner...maybe few % or so at its best. You have to decide between crappiest solutions, but like in my case, i also have limited resources to invest into this project and also other investors (new) capital is limited, as i now tried to look for investors many weeks now and it is not easy to pull "new" money into this bankruptcy project at all. This is now the compromise we negotiated in long "night" discussions.

 When old coins would give 3 times more shares than no one is investing and thats it. This is definetly NOT a good investment for new investors, it is necessary to make compromises.

Since you want to be "passive" investor, it might be better to chose the "cooperate", there you would get your "equal" share of the 50% profits from the new site

I tend to forget that we are in this pickle together, and that you have lost much more money than I. I realize you are working very hard to make the best of a really crappy situation, and that you probably would rather be working on something else than perhaps recovering some of your losses. My thought was that me investing my coins would alleviate the pressure to reimburse the non-investors, but I will take your suggestion and choose cooperation with the initial plan.

Hi there everybody,

I lost around 50 btc in the second theft/"hack" at bitmarket.eu. The questionaire ended before this incident. I already wrote an email to the administrator of bitmarket.eu, that i do neither intent to donate these coins nor am I interested in cooperating with any kind of solution that will be brought up by any person affiliated with bitmarket.eu or the group of new investors.

I will insist on the payout of my stolen bitcoins and I am considering legal action, if I do not get my bitcoins back until the end of march.

As far as I am concerned, I do not believe in the "official information".
To me the second incident smells like screwing the users all over again - steeling their bitcoins and gamble with them.
M4v3r said, there is the chance, that the latest 620 bitcoins could be paid back very soon. He considers himself a security guy and despite this he had his server and the wallet open to the world. No no no, there is something wrong in the state of denmark and I am not gonna take it.
If I have to go the judicial path, so be it. What I will get then I do not know, but at least I tried.

So if anybody here feels and thinks the way I do, maybe we could join forces.

I might be interested. I am leaning towards cooperation for the time being, but am not in any way waiving my right to take legal action, even if I decide to cooperate.

This stupid hacker incident really occured at the worst timing one could imagine, in particular as it happened just after the questionnaire ended and therefore all positive answers might completely have chainged their minds in the meantime..  We are just discussing if those hacked coins should be reimbursed first or not. Or at least faster than the rest or not (no decision taken yet, this will be done on our meeting 15th march), as the problem is simply that there is not much investment money available.

However, the plan is that the site will not be involved with the new site anymore and bitcoins could not be accessed from the site admin(s) at all anymore.


People of course do not lose any rights from going to court against the old admin. From the questionnarie it looks like only few people are not cooperating. Maybe you should contact Maciej directly and "officially" set back your status to non-cooperation plus claim a reimbursement of an amount in FIAT currency (bitcoins are not there and cannot be paid out). Therefore, i think you will not get bitcoins back anyway, as it is simply not possible.

We actually had a legal assessment on this, and the proposal was that "frozen bitcoins" are never "released" to non-cooperative persons, but you might be reimbursed a certain amoint in FIAT currency where the bitcoin price is determined at the date your coins were actually frozen OR the amount you actually paid for them on bitmarket.eu in the past.

@mralbi: I posted some questions here (https://bitcointalk.org/index.php?topic=5441.880). If I do not get an answer, I consider you and m4v3r conmen and for that I maybe will not wait until the end of march.

well, believe it or not, i am not related to bitmarket and/or the admin in any way. I just lost my coins as anyone else, simply a "slightly" bigger amount than you, so i would like to find a USEFUL way out. As i posted in the other thread, going to court or whatever will not help you in any way, maybe you have tried this in the past, but from your comment(s) i assume it will be your first time.

But please make your own experience with an international court case. It takes 2 years or more and will cost you AT LEAST 3000 euros. And in the end it gives you nothing. And no i dont want to scare you off, its just the reality

BS, as I said in the other thread. And for anybody who is interested (at least those from germany), you may check the german embassy in poland (http://www.warschau.diplo.de/Vertretung/warschau/de/04/Rk-Informationen/0-Informationen-Deutsche.html). Just download the pdf "Rechtsberatung" - there is some valuable information to start with.

http://www.warschau.diplo.de/contentblob/1724272/Daten/2864099/Rechtsanwaelte.pdf

die Liste hatte ich auch,

schreib doch mal den Anwalt "Braun Paschke Rechtsanwaltskanzlei", der auf Forderungseintreibung spezialisiert ist und sag ihm viele Gruesse von mir *g

Von den Fachrichtungen her wohl eher eine schlechte Wahl.

naja ich hatte 10 anwalete aus der Liste angeschrieben, ob sie den fall uebernehmen wollen, die waren unter den wenigen die ueberhaupt geantwortet haben und explizit mitgeteilt haben, dass sie kein Interesse haben ;-)

Hi! I'm wondering when I might be getting my repayment. I had 20 BTC frozen in December.