BTCChina "Theft" - 6.5[btc], 24 Conf. & Counting, no credit

[FenixRD]

As it sounds.

Screenshot:


They link you to Blockchain:
https://blockchain.info/zh-cn/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay

(english version, since switching languages on blockchain is coded shitty and sends you to the home page)
https://blockchain.info/en/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay

As of this moment, we're at 24 confirmations. They "require" 5. I've deposited a few times previously and never had an issue, and I'm sure it's a bug and not an intentional theft, but be that as it may, this is an unacceptable occurrence for a financial service. Since it's like 6 AM in Shanghai, they won't address my email until at least 3 hours from now (if they don't, that's another story entirely!) but in the meantime, this has effectively cost me a decent chunk of change, as I'd intended to sell to CNY and rebuy at bottom, which we still haven't seen, though we may be near it.

Not only this, but their zero-warning implementation of their 0.3% trade fee will undoubtedly cost plenty of folks with automated trading scripts a lot of money while they sleep. No, no one expected 0% to last forever -- but this method is highly dishonest, and I'm very unimpressed.

4:01 PM CST / 6:01 AM China UPDATE:
At about 5:41 AM Shanghai time, my account finally showed up with the 6.5BTC. No reply from any rep from BTCChina yet. One assumes the system has some level of automation that restarted whatever process my coins were hung up in. Somewhere around 29 freaking confirmations when this happened!

If I were to assume a conspiracy, I would point out that this is the exact time when BTC seems to have bottomed out. But I really doubt they have any motivation to do that sort of thing (idk what I'd posit the plan was anyway). Really shitty in any case. If one assumes I'd sold at 4900 and bought at 3900, as I did with the rest of my assets -- strike that, sold at 4700-ish, because I'd have had to wait 5 confirmations at least -- they cost me about 1.33BTC, or about $1000 at present prices (continually changing of course).

[devthedev]

You should post this is "Scam Accusations"

https://bitcointalk.org/index.php?board=83.0

[dree12]

Not only this, but their zero-warning implementation of their 0.3% trade fee will undoubtedly cost plenty of folks with automated trading scripts a lot of money while they sleep. No, no one expected 0% to last forever -- but this method is highly dishonest, and I'm very unimpressed.

I have a feeling that will be the least of their concerns once BTCChina has its fiat balance confiscated.

[FenixRD]

You should post this is "Scam Accusations"

https://bitcointalk.org/index.php?board=83.0

If they don't handle the situation as I deem appropriate, I may do so. It is currently outside of their posted hours of customer service (9 AM to 1 AM Shanghai time; it's 5:27 AM there at this moment), so as pissed of as this makes me, the appropriate thing to do is to make this occurrence as well-known as possible, seek restitution from BTCChina, and then move on. I'm fairly certain no one has actually stolen anything (though effectively, for me, my 6.5BTC may as well be at this point, yes).

[FenixRD]

Not only this, but their zero-warning implementation of their 0.3% trade fee will undoubtedly cost plenty of folks with automated trading scripts a lot of money while they sleep. No, no one expected 0% to last forever -- but this method is highly dishonest, and I'm very unimpressed.

I have a feeling that will be the least of their concerns once BTCChina has its fiat balance confiscated.

Haha. What makes you think that's coming?

[FenixRD]

4:01 PM CST / 6:01 AM China UPDATE:
At about 5:41 AM Shanghai time, my account finally showed up with the 6.5BTC. No reply from any rep from BTCChina yet. One assumes the system has some level of automation that restarted whatever process my coins were hung up in. Somewhere around 29 freaking confirmations when this happened!

If I were to assume a conspiracy, I would point out that this is the exact time when BTC seems to have bottomed out. But I really doubt they have any motivation to do that sort of thing (idk what I'd posit the plan was anyway). Really shitty in any case. If one assumes I'd sold at 4900 and bought at 3900, as I did with the rest of my assets -- strike that, sold at 4700-ish, because I'd have had to wait 5 confirmations at least -- they cost me about 1.33BTC, or about $1000 at present prices (continually changing of course).

(Also placed in original post, for newcomers.)

[FenixRD]

...And the hits just keep coming. I CAN READ CHINESE. Why do I not see anything on BTCChina indicating that they only process BTC withdrawals during business hours?? I've withdrawn before, and felt safe doing so. Now I see it will take until they open for business? What a f-- joke.

What's the point of all the 2-factor + SMS crap if a human still gets involved? So, I decide I'm more comfortable with keeping part of my BTC in other exchanges during the volatility and now I'm stuck with 10 BTC stuck somewhere while BTC is in the middle of another drop. Once again, I'd have sold it at 700 at BTC-E if that shit had been deposited as it should have. Holy shit, I'm steamed, what a piece of crap. The max they allow to be withdrawn in a 24-hour period without assistance is 10 BTC -- except even that apparently requires "assistance" so... Wow.

Just wow.

[FenixRD]

...AND!

Despite their stated policy of a 1 mBTC network fee, which last time I was charged, this time (the transaction has appeared, BTW) they sent it with ZERO FEE. So let's see how long a penalty I pay for THAT fucking shit. Recent blocks are 1000+ transaction beasts. I'm willing to bet my 374 byte transaction isn't the only one vying for a free spot in a block. Last time Blockchain did this to me (I used their mobile app and assumed it would follow the rules, but evidently it does not) it took like 48 hours.