Apologies for my absence - Doctor stuff followed by the holidays meant I have been out of action.

Will catch up with everything soon and give an update.

Cheers.

No, only his chinese name

I've read the stories here and feel sorry for anyone who has lost money/BTC.

Anyway....Some quick background on us:

We, and not (TF or coinlender) are part of a company with an "Australian Credit Providers Licence" (allows us to provide credit/LOANS) and we would like to make the following commentary to those affected or otherwise by the coinlender saga.

We believe the coinlender business has/had merit, with albeit inept execution/security floors.

For this reason we wish to speak to you that have lost funds using this system, to get your reactions to our request/proposition, before any formal commitment from our end.

As an Australian company we feel that if we can offer our assistance then we will do so.

So here are the initial thought/requests to consider/debate/chat about.

1. We would like to request to negotiate with TF to purchase coinlender/TF database/website and all intellectual property/domains etc and take over management of the current loans.
2. The cost to us will be $0, in fact we want $50,000 or 100 BTC from TF, to buy it and manage it from TF.
3. The $50,000 will be used to a) setup a company owning the intellectual property and b) issue shares in the new company to be split among both our company and that of you that lost money/BTC, along with some funds towards manegemnt of the current/new loans.    
2. TF to work with us for up to say 12 months (at no cost) on an ad hoc basis as needed to benefit the site/business. This will include a shareholding to him at the conclusion of 12 months, if we (collectively) so choose to do so based on his 12 months help.
3. Anyone who has lost funds/BTC will be rewarded by holding shares in the company in some way by using the service again (unsure at this point what that will be, but some form of monetary reward for commitment back to the site. You have to commit, make BTC available to receive shares. (unsure how this will work at this point but just a comment for now)
4. We would keep similar functionality and business concept with some required changes.
5. We are to be provided a complete breakdown by TF as to who has lost what amount so that we can make sure those that have been  affected receive a shareholding.
6. Shareholders to receive dividends prorated each year.  


Could go on forever, but in essence, we will take the inherent risk associated with buying a website/IP with a tarnished name with the acceptance of terms to the above by TF (we are negotiable) but more importantly it must be acceptable to the majority of you.

This by no means stops any action by you against TF for lost BTC, however we are trying to help you move forward in the meantime with this proposal/idea/concept.

PS: We personally do not believe TF is/was a scammer, however that is a moot point at this stage, the important thing is to find a solution to move forward that can benefit all past users/ new users and Bitcoin.

Happy to take questions/ ideas/ comments by any of you or TF.





 

  



 

This whole thing stinks to me. He's prioritizing higher deposits because that is the liability. The issue is that there may be a lot of small deposits with a large sum of BTC. He's ignoring all of that.

I've e-mailed and heard nothing back.

I'm considering that we start contacting legal authorities on this.

I do believe TF was hacked. I get that. What I don't get is the handling. This hack seems like an excuse to rob everyone and not communicate, etc. It's grossly unfair.

I'm thinking for those in the U.S. we follow this advice:

http://travel.state.gov/travel/cis_pa_tw/cis/cis_4522.html

I intend to start that tonight.

Based on this USD fiat conversion, I would get back about 18% of BTC I put in. The value of BTC is much higher now, I don't want USD back obviously. The question is where did the other 82% go?

If the 4100 coins stolen where 82% of the funds that means that 5000 coins where on deposit.

According to the thread: https://bitcointalk.org/index.php?topic=328053.0;topicseen more than 6000 coins where deposited.

Even if I assume that all of the loans won't be paid back (which is, I imagine, typical of a lending service) the numbers do not add up. We are all taking a huge loss and there is no explanation of where that loss goes. The BTC didn't just disappear, someone has it. The hacker has some, the borrowers have some, and TF has some. How is it that the borrowers take the cut and TF walks away with 1000's of BTC worth several 100 thousand. I'm not buying it.

CryptoUser01

I've responded and processed to all emails where we both agreed on a 100% refund of the USD amount (calculated at time of deposit / withdrawals).

通过把保证金降至25%的方式，变相提升一倍手续费。其实杠杆和保证金比例没有任何关系，以前的50%保证金和现在的25%保证金，都是一样的杠杆，杠杆只和比特币的价格挂钩，即做多每涨一块钱，收益增加2%。以最低级的用户为例，手续费为0.3%，但收取时要除以50%的保证金比例，也就是说如果是100btc开仓，以前手续费实际收取0.6%，即0.6btc。而现在是除以25%，100btc开仓，将收取1.2%，即1.2btc手续费。以前做多，假如是400的价位开仓，只用涨到400.3就能解套，而现在要涨到400.6才能解套。

不声不响就把手续费提升了一倍，796最近的各种动作，颇有GBL当年的风范。

796最近做的缺德事不少，比如10月24日那次网站被攻击，事后796仅在202位置拿出1000多个btc赔给客户，而网站受攻击前，当时796的成交价是212，所有做多的客户因攻击事件，损失20%以上。网站赔的钱最多也就是客户损失总数的10%-20%。796还大言不惭的说“由网络连接造成的故障，崩溃，延迟或扰乱，或由于任何原因网站在任何时候或期间不可用，796公司均不负责任。”，这是明显的霸王条款，法律上没错，但却是无良商人的作风。

还有11月9日晚上，网站设置的问题，导致连环爆仓，380做空的人在396时就被爆了，挂到405.6给别人成交，而第二天价格跌了下来，网站当时总共有300多保证金都是不该爆的，而且等第二天价格跌了后，本来都是翻倍盈利的空单，最后全赔光，而796没有任何表示。

有了前面两次的缺德事，这次随意修改交割时间，搞内幕交易，也是自然而然的事。

以前做空有十几倍的杠杆，只要跌0.3元就能支付佣金，现在做空杠杆降了一倍，只有8倍多，而手续费又翻了一倍，变成跌0.6元才能支付佣金，可见就算按杠杆算，796涨手续费也是不合理的。不过本人还是认为，手续费应该和保证金挂钩，对于大多数用户，现在交的是1%－1.2%的手续费，由于是开平仓合并计算，实际收取0.5%－0.6%的手续费，这和mtgox和bitstamp差不多，但大幅高于任何国内交易所（0%－0.3%）。

以前搞个50%和25%保证金，可能是为了区分做多和做空的不同杠杆，现在杠杆相同，却依然弄个25%的保证金，搞得每次开仓都要除4计算，纯粹是浪费所有用户的脑力。本人不才，不懂为什么要弄个25%，能想到的原因，无非就是增加参数，混淆手续费上涨影响。

He keeps his word well for so long that I have deal things with keep. He keeps his word well. He can do nothing in this situation but to payback. Althouh he've shown he situation but this serious flaw can't just be un-remembered. People just dump neg tag to him..

Anyway, we all now should wait patiently for the news. TradeFortress have done so much for these years. And if he would like shed his responsibility, he'd have gone by now, instead of donating his stash out to all Inputs user. Moreover, the interest he set on coinlenders will be negative instead of 0.

这几天感冒头疼，没能及时更新报表，非常抱歉！
报表已经更新。

A full update will be posted soon, don't panic. Only people with the API key enabled was compromised (and will be reimbursed), passwords are securely stored one way in the database.

Security is obviously the most important thing to a Bitcoin wallet, and it's unfortunate that a compromise occurred, and we're learning a lot from it (things that pentests won't catch).

There will be a full update soon, but this compromise was not through a fault of the code but rather like a 'side channel' attack.