[2015-03-25] Motherboard: PayBase Accused of Absconding with Customers' Money

[sgk]

[...]Digital exchange platform PayBase is being accused of scamming its customers. For about a week, users have reported the website, which functions as a wallet and an exchange for Paycoin, an alternative digital currency that launched in December​ 2014, has stopped withdrawals.

A Reddit user posted in subreddit r/Bitcoin on Sunday that the site “has gone full blown Mt. Gox on everyone,” referring to the implosion of the world’s first Bitcoin exchange in February 2014 that resulted the disappearance of around 750,000 of customers’ bitcoins.[...]

http://motherboard.vice.com/read/digital-currency-platform-paybase-accused-of-taking-off-with-customers-money

[odolvlobo]

Nobody saw this coming. 

[el_rlee]

What? Scam in the cryptocurrency world? Who would have thought of that

[indiemax]

please bring on the regulation and jail the scammers

[Snipe85]

And the drama continues. How can you even compare some altcoin exchange, dealing in its own altcoin to Gox?
Those who stayed with them after XPY went from 18 to 0.5 USD and are now saying they were scammed have a delayed fuse. You were parted with most of your money long ago.

[gentlemand]

It's pretty disturbing reading the posts of the faithful in their forum. I don't see how the faith could've been maintained for so long. Just goes to show how powerful an emotion greed is and how quick people are to place trust in those who promise them the earth.

It's weird though. To be into Paycoin, you'd have to have been around crypto for a while and observed the endless broken promises and scams.

[zoinky]

It's pretty disturbing reading the posts of the faithful in their forum. I don't see how the faith could've been maintained for so long. Just goes to show how powerful an emotion greed is and how quick people are to place trust in those who promise them the earth.

It's weird though. To be into Paycoin, you'd have to have been around crypto for a while and observed the endless broken promises and scams.

Paid PR.

[Armis]

And the drama continues. How can you even compare some altcoin exchange, dealing in its own altcoin to Gox?

simple, Gox was the major force in the early beginnings that made BTCs rate fly through the roof, so from $10 to $1000 was mainly gox.   And on the other side of things, the downward performance of btc in 2014 was mainly gox.   2015 is the first real time gox is not a major part of the direction of btc

[SirWilliam]

Man alive, how could anyone NOT trust a face like that?






What is that, gypsy chic?

[gentlemand]

eh... i will give humanity abit higher standard by saying.... those are paid shills.

I might be wrong and god bless human race if so 

Let's keep on hoping. If life has taught me anything so far...

I'd better keep that to myself if you're feeling fragile at the moment.

[Snipe85]

And the drama continues. How can you even compare some altcoin exchange, dealing in its own altcoin to Gox?

simple, Gox was the major force in the early beginnings that made BTCs rate fly through the roof, so from $10 to $1000 was mainly gox.   And on the other side of things, the downward performance of btc in 2014 was mainly gox.   2015 is the first real time gox is not a major part of the direction of btc

You haven't answered my question. We all know Gox was one of the main players in 2013... What's your point? How does it relate to an altcoin exchange that started small and ended even smaller?