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WHOA! I woke up this morning and all my bitcoins were returned. I'm very impressed that MDC did this! Thank you very much if you are reading this MDC.
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Have any of you had this email from 'Alana Tor' ( refund.mdc@gmail.com)? Hello,
Please provide your username, userbit and a bitcoin address to refund.
We lost database just some parts (emails) has been recovered within these 3
terrible days.
Regards
MDCI just responded to them with my loss. |
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in my opinion the processis taking to long and we lack the information about BTCArbs his refund planning...
I'm not sure we are hearing from everyone who is being paid, but it feels like the frequency of payments has dropped a lot since the beginning. No idea whats going on. Well it seems like a lot more people are showing up with pay back requests. I haven't seen a payment in a while either. |
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Wow, I'm reading about people that had 20 and 23 btc in mdc. I'm both stunned and saddened to hear that  - While I never trusted mdc to put more than a few dollars. I'm amazed that mdc would stoop to such levels, as to take 20+ btc from individuals - They made off with a lot of money the bastards. I have invested in both bitcoin-trader and coinminters.club (with small amounts). I'm suspicious of both of them (more so of coinminters.club) but we will see, maybe one of them will turn out good. |
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I just found this forum since MDC looks down or gone. I can't get to the site. I might have lost $12.40. I never trusted them much so was unwilling to put more than that into the site.
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Cool. Can I just get clarification of how best we should provide our info? Do you want TXID's etc?
TXID? Is that to mean 'tax ID'? Like Social Security? If that's what it means...... how on earth is he suppose to verify that even if you give it to him. Did you use your real name on the btc-arbs site??? All you need to do is send your username from the site and the amount you deposited minus any withdraws you made. He can look at his list from there. lol are you serious?? how long have you been using BTC to not know what a TXID is?? It can't be serious lol. He registered his bitcointalk account 7 months ago, I can't believe he has never encountered "TXID" before... I had a few too many last night - lol. Need to stay off the computer after drinking. |
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Beginning of week update: - Many more refund request replies sent
- 16 partial payments sent
- Replies now contain estimated refund start dates
For everyone who is worried that I may think their request is fraudulent: If your request is real you have nothing to worry about. If I think it is fake I will still reply. Cool. Can I just get clarification of how best we should provide our info? Do you want TXID's etc? TXID? Is that to mean 'tax ID'? Like Social Security? If that's what it means...... how on earth is he suppose to verify that even if you give it to him. Did you use your real name on the btc-arbs site??? All you need to do is send your username from the site and the amount you deposited minus any withdraws you made. He can look at his list from there. |
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I have never had any PM or e-mail back from btc-arbs. I have received 2 partial payments, but even when those came I never got a PM. I did get a couple of mentions in posts here on this board though. |
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I haven't looked at the spreadsheet but I assume that it is filled with fake users and incorrect deposit amounts because the total deposited amount is less than 600 BTC.
For everyone who is new to this thread, I did not make the spreadsheet and am not using it as a reference for refunds. To claim a refund you must contact me by PM with your username, amount deposited and the address that you sent your deposit to.
Refunds do not include earnings, only the amount lost.
For everyone else, more PM replies were sent today.
Since you're not using that spreadsheet, would you at least provide some kind of idea as to who is on your list or not? I know you're vetting each one by one, but it would be nice for some of us to know. A reply is sent to each user who has submitted a refund request once the request has been confirmed as legitimate. The reply also includes an estimated first payment time frame. Once the first payment is received, the user will continue to receive payments until they are fully refunded. Because of all of the scammers and fake messages each request has to be verified manually. This process takes a long time to complete but is necessary. More PM messages are being sent right now and more payments will be sent in 10 minutes. Ya know..... It just chaps me that there are those of us who are legitimately hoping for money back and are trying to be honest about what we are owed and then there are assholes who come in and start throwing their name in this process that have no pony in the race..... may their ass get bitten a 1000 camel fleas! |
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I've added my 7 BTC . My Legacy Fund Balances is 9.7 BTC but i think i earned 2.7 BTC since the Beginning. I send a pn to btc-arb at June 14 but I got still no answer. When the website was still online every day there was back small sums for each. Why is this no longer possible? At the constellation has been no change. Sorry for my english. I come from Germany.
He does not send you an email/pm until you are about to get paid. It is what it is so we have to deal with it. He just changed to smaller payments to more people but it is still only a few per payment. I imagine it will take a long time to pay everyone back. While I realize he is looking at a mountain of people to pay back that seems to grow daily..... since he has gone to this smaller payment schema, I haven't received jack (no pun intended freejack). |
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Still Waiting!
I'm beginning to loose my temper....
Better than losing your lunch I suppose  |
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I have received my full repayment and updated the spreadsheet to show that. Thank you
BTC-Arbs user: Snoopdogg
Amount deposited BTC: 0.15 BTC
Amount refunded BTC: 0.15 BTC
Refunded?: Full refund
Date refunded: June 29, 2014
Congrats..... I'm hoping for the day. |
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Most emails take time to verify. Many users are claiming invalid amounts and there are also many fake emails from users that did not even have accounts.
All messages will get a reply. It takes time and this forum limits the speed of sending PMs.
I was one of the first to reply. I send my email on May 30th and my PM on May 31st. I have seen many many users who have sent messages after me that are getting refunded while I am not. I deposited 1.36 btc to btc-arbs and watched it grow to 1.80. I withdrew less than 0.05 btc when everything was falling to shit. I am asking for 1.25 btc to be refunded to the following address: 1PshALPGVCjWYBbbtXzhMKZFE2cwVbSTSC I sent my e-mail on May 30th as well. Follow-up PM on June 1st. I had about 10 BTC deposited, so he has a lot of ground to cover. It's clear that he's not trying to pay back most of us mid-large investors yet. Freejack appears to be the only one of us who started to receive something. There doesn't seem to be any pattern, I have brought this same subject up before and I still think Mr. Btc-arbs would get a lot less pressure if there was a pattern, first responders, highest to lowest, or lowest to highest, or alphabetically or something where we could watch as each person is check marked off. |
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Amazing how many people keep showing up. I hope btc-arbs (Ron/Adam) can get on top of all this.
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I've added my 72.7BTC. From what I have seen this is the largest deposit he had so he shouldn't forget it. I'm glad to see he's doing something about fixing the problem, even if it takes time.
For the record - I don't mind waiting for my coins as the longer btc-arbs has them to trade with, the faster he is able to recoup everyone's money. I'm a long term holder, so I can wait.
Wow 72.7??? Is that your original deposited amount or does that include some of the profits? |
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I have been carefully considering all of the suggestions posted in this thread and will be implementing a variation on what has been suggested. Details will be posted this week. For now, more refunds have been sent.
It is also clear that some users do not understand the refund process. The refund amount is not the total amount including earnings. It is the total amount originally deposited minus any withdrawals.
I thought that you didn't have any records of what people withdrew? If you already have all the info, why does everyone have to send a request to withdraw their BTC with supporting blockchain info? My guess is that he is gathering information based upon statements in this board and PM's he has gotten that have eluded to people not understanding..... but than again, that's a guess. |
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That's far from evidence that it was heart bleed. Heart bleed was specific to openssl and therefore was not even a security breach for servers not running openssl. You have no idea what ssl he was running. To boot, Joe-blow hacker who gets into a site, is not going to take .02 - .04, especially if it was heart bleed since heart bleed had a fix it already for several months that just needed to be applied, he doesn't have the time to linger around everyday to take small amounts of money and try to go un-noticed.
That's true that I have no evidence, and have no idea whether or not he's using open SSL and what level he was at. I don't even know if he's a male or female. The only thing I do know is the heartbleed bug caused cached data to be available to non authorized users. He's also eluded to the fact he was hit by it. The fact that the breech of my accounts took place with a day of the announcement and also the fact that I logged into all of the accounts with in a very short time and the only accounts hit where the ones someone looking at raw data could easily figure out, leads me to believe it was that. Again your absolutely correct that I don't know for sure. The little with drawls bugs me too. What would your theory be. Given that in 1 hour 3 accounts were breached, and all had small withdrawals done. This was a few days before the sale of the site (tongue in cheek). Do you think someone just happened to figure out 3 userid/passwords? do you think BTC-ARBS made the withdrawals? At first I though either would be possible. After I "somewhat" understood the HB Bug that seemed more plausible. Again, I can only say what happened to me and my conclusions. Oh yea, There wasn't a lot in any of the accounts to begin with. They may have had .1 BTC each. Maybe that played into why they only took a small amount. No idea, there are too many unanswered questions already, I just wouldn't start throwing out absolutes at this point. |
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I have been carefully considering all of the suggestions posted in this thread and will be implementing a variation on what has been suggested. Details will be posted this week. For now, more refunds have been sent.
It is also clear that some users do not understand the refund process. The refund amount is not the total amount including earnings. It is the total amount originally deposited minus any withdrawals.
This is great news. Glad to see Mr BTC-Arbs taking steps to restore order in this mess. I for one, would just like to see my claim acknowledged, and that we agree on the amount to be refunded. It's nerve wracking not knowing it he received my email or PM, understood my ramblings and agrees with the amounts due. How he decides to actually implement the payout process is secondary. I still have faith in human nature that it will be fair on some level. I only risked what I could lose, so it's not keeping me from putting food on the table or paying the rent. On a side note. I know for a fact that his site was hit by the heart bleed bug. I had seven accounts on there (lots of kids). Everyday I would log-on to each account after the interest for the day was posted. Within an hour of my log-in someone made small withdrawal's from 3 of the accounts. I noticed it the next day and implemented 2FA security. (closing the door after the horse is out of the barn?) Of the 3 accounts they all had pretty noticeable account names. and the passwords were weak. The others had more obscure names and passwords. What I found strange was the accounts were not wiped out, just .02 -.04 withdrawals made. Again glad to see progress being made. That's far from evidence that it was heart bleed. Heart bleed was specific to openssl and therefore was not even a security breach for servers not running openssl. You have no idea what ssl he was running. To boot, Joe-blow hacker who gets into a site, is not going to take .02 - .04, especially if it was heart bleed since heart bleed had a fix it already for several months that just needed to be applied, he doesn't have the time to linger around everyday to take small amounts of money and try to go un-noticed. |
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One thing I don't completely understand about the web site hacking is: Even if the web site is hacked, it's just a visual representation of what profits are being made. Most if not all the money would have to be in exchanges. I don't recall reading or hearing about multiple exchanges being hacked. I could be naive in how the whole process worked, but it just seems like in order to do arbitrage you would need multiple accounts in multiple exchanges and money in all of them, not sitting on a web sever.
He claims that the hackers changed the deposit address on the website so people transferred directly to the hackers instead of Btc-arbs addresses, furthermore he claims that some user accounts were compromised and they requested a withdrawal to their addresses. If I remember correctly, when depositing to the Btc-Arbs website, you had to go back to the website after making the transfer from your wallet and click a button that essentially confirmed that the transfer was initiated. So then if the change in deposit address claim is true, he should have realized very quickly that people were confirming that transfers were being created but no actually BTC was coming in. Also, the requested withdrawal issue should've been discovered very quickly as well since if they withdrawal were paid out to whoever "hacked" the website, the balance shown in the account would've changed and the individual whose account it really was would notice that pretty quickly and no doubt reach out to the admin to find out what is going on. In either scenario, I think the issue, if true, would've been discovered/pointed out very quickly greatly limiting the damage in terms of lost BTC compared to what the situation seems to currently be. Others have also questioned the claims on here and I also agree that it just does not seems to line up so my only conclusion is that he might have more BTC than he is letting on, trying to make people whole from the arbitrage profit while keeping the principal amount at the end, which is pretty sizable according to the spreadsheet. And clearly had no desire to return the BTC prior to his identity being 'discovered'. I wonder if criticism on this forum is another one of the criteria that pushes you to the back of the payout list..... hmmmmmmm not sure any of this is criticism, just general questions. I have had 2 small payments so I'm generally happy he is working on it, and I freely admit I could be naive to the process he was using. But questions do abound..... |
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One thing I don't completely understand about the web site hacking is: Even if the web site is hacked, it's just a visual representation of what profits are being made. Most if not all the money would have to be in exchanges. I don't recall reading or hearing about multiple exchanges being hacked. I could be naive in how the whole process worked, but it just seems like in order to do arbitrage you would need multiple accounts in multiple exchanges and money in all of them, not sitting on a web sever.
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