[CRYPTOSTOCKS] Vircurex [VCX] - Going public

[thy]

I believe Kumala has all the coins to refund the depositors if he just wanted too. and I also believe he has no much choice if he wants to keep vircurex as a viable business. The btc bull market is still in its infancy and there's still a lot of money to be made here. He'd be just silly to let this go down. He should proceed in refunding the depositors with a fresh injection of coins (I'm afraid there's no much to do for the current shareholders, they have been almost totally wiped out), disclose his identity, build up a new team of management/shareholders and regain the confidence that is the base upon which any successful exchange is developed. Look at cryptsy, that website has over 500 btc a day of volume. but big vern is well known, doesn't hide, today added trading vs USD, and his shares are going up. Vircurex could have been much ahead if it was well managed from the beginning.

Technically the shareholders still have right to dividend each month the site makes any profit("all revenues will be net profit and paid out as dividends during that period") so kumala probably owes the shareholders around 1500 btc or something like that by now, so in case any shareholder with a significant amount of shares would bring him to court, he would have to pay out the dividend all shareholders is entitled to.

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[Pimpmycoin]

Technically the shareholders still have right to dividend each month the site makes any profit("all revenues will be net profit and paid out as dividends during that period")

i lost about 165 with this fucking scammer

dividends?

vircurex without refund to the depositors is dead

[thy]

Technically the shareholders still have right to dividend each month the site makes any profit("all revenues will be net profit and paid out as dividends during that period")

i lost about 165 with this fucking scammer

dividends?

vircurex without refund to the depositors is dead

What is the image from and what does the 21.02 btc's for Vircurex in the list stand for ? Could it be monthly incomes, fees from trades and withdraws or maby daily trade volumes ?

[Phildo]

I believe Kumala has all the coins to refund the depositors if he just wanted too. and I also believe he has no much choice if he wants to keep vircurex as a viable business. The btc bull market is still in its infancy and there's still a lot of money to be made here. He'd be just silly to let this go down. He should proceed in refunding the depositors with a fresh injection of coins (I'm afraid there's no much to do for the current shareholders, they have been almost totally wiped out), disclose his identity, build up a new team of management/shareholders and regain the confidence that is the base upon which any successful exchange is developed. Look at cryptsy, that website has over 500 btc a day of volume. but big vern is well known, doesn't hide, today added trading vs USD, and his shares are going up. Vircurex could have been much ahead if it was well managed from the beginning.

He can't possibly have all the coins. Huge amounts were stolen and he hasn't come close to making up that amount in fees. The only question know is who gets fucked.

Your forgetting the fact that kumala have ~1000 btc from the IPO and that Vircurex made hundreds of BTC in profit each month a year ago, 125 BTC in mars 360 btc in april and most likely continued to make huge profits for months to come before there were a lot of other competitors coming, witch later on made Vircurex marketshare and monthly profit smaller.

Look at the financial reports. Who knows where the ipo money went, but the fees just aren't there. They have made 670.6 bitcoins in revenue, and paid out 378 in dividends. This has been a game of russian roulette looking to see who was going to get fucked since those coins disappeared, since no one made a plan to resolve it at the time.

[Pimpmycoin]

What is the image from and what does the 21.02 btc's for Vircurex in the list stand for ? Could it be monthly incomes, fees from trades and withdraws or maby daily trade volumes ?

sry bro,

daily trade volume

http://www.cryptocoincharts.info/v2/markets/info

[thy]

What is the image from and what does the 21.02 btc's for Vircurex in the list stand for ? Could it be monthly incomes, fees from trades and withdraws or maby daily trade volumes ?

sry bro,

daily trade volume

http://www.cryptocoincharts.info/v2/markets/info

Oh cool thanks. well yea at those trade volumes on Vircurex it will take them way more then those around 2 decades that i guessed it would take based on there last published quarterly report to genertate enouth to pay back all traders there money.
They need to get there volumes back up to over 1000 btc a day and raise there trading fees to 0.25-0.5% to get people there money back in resonable time.

I see that OKCoin is at 268,719.37 BTC volume, thats some massive volume they have over there.

[Arbitrageur]

so, where is the quarterly report? is this coming out at all?

[Pimpmycoin]

so, where is the quarterly report? is this coming out at all?

+1

yes were is th quarterly report?

[Kumala]

With the recent developments we haven't had time to compile all the data for the report. In addition we'll be fully disclosing the financial situation (short fall of BTC, LTC, TRC and FTC). Preparing this diligently takes some time, apart from answering like a bit over 10K of emails that we have received.

[cheezhead]

With the recent developments we haven't had time to compile all the data for the report. In addition we'll be fully disclosing the financial situation (short fall of BTC, LTC, TRC and FTC). Preparing this diligently takes some time, apart from answering like a bit over 10K of emails that we have received.

Kumala,  You owe some of us more than a disclosure of your shortfall.  Some of us transferred coins between 3/19 and 3/22 for trades and our coins were stolen.  It was portrayed as a technical issue that was being worked on but then our accounts were frozen.  This is a completely different issue than your shortfall.  Your number 1 priority should have been, and now needs to be, restoring the funds of those who received the withdrawal error you promised to fix.  This cannot be a large number of people but your liability towards these accounts is much more severe as you engaged in overt fraud during this time.  I will be patient with my prior deposits that were frozen but insist you restore the coins that were stolen and distributed to others during the 3/19 - 3/21 period.

[Arbitrageur]

Some of us transferred coins between 3/19 and 3/22 for trades and our coins were stolen.  It was portrayed as a technical issue that was being worked on but then our accounts were frozen.

this is an issue I haven't considered, but actually in March between the 19th and the 20th I had deposited 14.33 btc!

[cheezhead]

this is an issue I haven't considered, but actually in March between the 19th and the 20th I had deposited 14.33 btc!

Well then you were a victim of theft like me.  I moved BTC into my account and traded for LTC.  I then tried to withdraw my LTCs and got the error.  My entire transaction took minutes and I should have been in and out in 1/2 hour.  Kumala posted a message stating the problem was being addressed.  Now somehow our funds were swept into the pile and given to other people.  This problem had nothing to do with his shortage UNLESS he purposely allowed trades so he could steal the deposits to help deal with his shortage.  That would make him a crook, pure and simple.  If the technical error was real, the withdrawals THAT SHOULD HAVE OCCURED BEFORE THE FREEZE must be completed.

[petarv]

With the recent developments we haven't had time to compile all the data for the report. In addition we'll be fully disclosing the financial situation (short fall of BTC, LTC, TRC and FTC). Preparing this diligently takes some time, apart from answering like a bit over 10K of emails that we have received.

"we'll be fully disclosing the financial situation ..."
Say when you will restore our money and not any information that is not signed by an independent external auditor! On the site https://vircurex.com/main/feedback  you have given information that

We have taken the utmost care to provide you with a stable, performant and secure environment. Nevertheless, as part of our continuous improvement program, we are looking forward to your feedback on how we can further enhance our web page.
 Contact us:
Skype vircurex
eMail customerservice@vircurex.com
  
  
"secure environment." Where is it? How sounds in advance granting of information/promise for management of foreign money of users?

And where in the general conditions of your site has the power to hold our money in this way? Just find the money and return it to us!
If I have to fly to Beijing I will do. I had 9.4 BTC. It's true that other users had many more but this quantity is not a little! I've spent this BTC and more on this site and I have honestly earned it and do not want another which is incapable to wasted it! Sorry about that, but you say that

"We have taken the utmost care to provide you with a stable, performant and secure environment." and there is the result when I log in on my account

"Frozen funds
Your account has frozen funds (the reason why you might not see all your coins in the balances). Please read this announcement about the details."

 I want this site to continue to work and I to be able to spend more, but have to find the money and return them to us!

[cheezhead]

"We have taken the utmost care to provide you with a stable, performant and secure environment." and there is the result when I log in on my account

"Frozen funds
Your account has frozen funds (the reason why you might not see all your coins in the balances). Please read this announcement about the details."

Petarv, I agree with you completely.  Kumala claims he's burdened with answering 10,000 emails.  It's only a burden if you are actually replying to them, and we all know he's not.

I am really concerned about the "frozen funds" designation.  For me, not only was a fund transfer interrupted and my coins were given to someone else, but now he refers to my loss as "frozen funds".  Technically, funds that are frozen actually exist but aren't available to withdraw.  He has admitted the funds aren't there.  So our "frozen funds" are actually an IOU with absolutely nothing backing it up.  He can pay you if and when he feels like it.  These are the kinds of misrepresentations (like his coin withdrawal technical error) that put him into a whole new category.  This is criminal misrepresentation.  People go to jail for doing what he has done.

Kumala needs to restore these funds and stop scamming people.

[petarv]

Kumala needs to restore these funds and stop scamming people.

Yes, how we can find the address of this company which owns site vircurex.com? From http://whois.domaintools.com/vircurex.com there shows no name property. Hidden like information. Let us who have blocked funds to organize and find him and do a collective's case to court in China.

[cheezhead]

Yes, how we can find the address of this company which owns site vircurex.com? From http://whois.domaintools.com/vircurex.com there shows no name property. Hidden like information. Let us who have blocked funds to organize and find him and do a collective's case to court in China.

The people who know him were the first to get paid off.  That's why it's so hard to get info on kumala.

Think of it, he runs Vircurex, Cryptostocks, and raised money by going public and not a single document or communication identifies him by name.  He is only known by his bitcointalk pseudo "kumala".  With all the problems he is having, he should be releasing information about himself to reassure people he is legitimate.  Instead, he has gone dark and even more secretive.  Does that look like the behavior of an upstanding person who wants to do right by his customers or does it look like the behavior of a criminal?

Again, he took our funds but won't even allow us to know who he is!  It's time to stop kidding ourselves.
There are people out there who know who he is and are using these boards (I know this for a fact).  They need to come forward....please...

[DeadwoodDan]

oh noes did you guys send your bitcoins to a random anonymous internet dude again

HOW DOES THIS KEEP HAPPENING

[Arbitrageur]

WTF!??!!? how the hell did he lose so much! numbers from latest report don't add up!!

Kumala
is this a joke??

how is it even possible that you are in this situation?
the losses due to the theft were much lower!

from the 2013 may report:

The total losses of the security breach are
1454 BTC
225,263 TRC
23,400 LTC

and from the august report the FTC stolen were 150k

FTC double spend attack causing a loss of 150,000 FTC

and now it's a total of over 5000 btc most part of which is due to missing 125K LTC???
no fucking way!

BTC:
Number accounts with frozen balances 352
Total frozen amount 1,748.50 BTC
FTC
Number accounts with frozen balances 42
Total frozen amount 152,106.24 FTC
LTC
Number accounts with frozen balances 2625
Total frozen amount 125,883.05 LTC
TRC
Number accounts with frozen balances 77
Total frozen amount 127,835.98 TRC


so BTC were 1454 now are 1748 = 294 more
LTC were 23400 now are 125883 =  102483 more, total in btc at these prices 3184!
FTC more or less the same for equivalent 30 BTC
TRC were 225263 now are only 127835, so almost half of it, for an equivalent of about 38 btc

Total BTC missing: 1748+3184+30+38 = 5000 BTC

this is unbelievable, so either you are blatantly lying, or you lied in past or you are a fucking retard. I believe the three of them unless you give us more explanation.

[Pimpmycoin]

you better explain this to the people in details.

i'm waiting


but imo:


[    ] honest people explain

[ * ] fucking scammer don't explain

[Arbitrageur]

no more bullishit with kumala.. enough is enough, now either he refunds some stolen money or VIRCUREX IS FUCKING DEAD

I opened a new thread

https://bitcointalk.org/index.php?topic=569037.0

let's find this scammer