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Author Topic: Nova Exchange community thread  (Read 2728 times)
damberg
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September 23, 2017, 07:14:09 PM
 #41

Registration still closed! WTF?  Huh

Registrations are now open and login works smoothly as well. Problem solved for now.

Great news, but take this as an opportunity to remove your funds from the site. I would recommend that people do not register at this time. The past two weeks have shown that Nova is completely incompetent at securing a cryptocurrency exchange on a basic level.

Shutting down registrations for 2 weeks and mass IP bans in response to DOS and intrusion attempts? I believe withdrawals are still being manually processed, and many people haven't been able to withdraw for days/weeks. And that note about the "beta" status of their exchange in the terms..... everything about this screams "get out while you can!" Undecided

I agree I would not leave my coins in Novaexchange for longer period of time than necessary. If they really still depend on manual withdrawals, it is awful. 

C
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October 30, 2017, 11:20:49 AM
 #42

 from Novaexchange


Intimation of closure of Novaexchange
Kindly note "Novaexchange" will have new owners and management effective April 2018, with major upgrades to the exchange to better handle scaling, stability and security.
For better management and security of customer funds we have decided to close down Novaexchange so that the users can withdraw all their funds with no participation/responsibility of action of the new management.

Preliminary plan:
2017-10-30 This information goes public, user registration closes, addcoin page closes, disabling deposits of ETC and ETH
2017-11-30 Deposits disabled for ALL coins, all users get level 3 verified account level
2017-12-15 ONE last deposit scan to take care of deposits made after 2017-11-30
2018-01-31 Email reminder to all registered users
2018-02-28 Trading engine stops, dice game stops, API stops
2018-03-31 Login stop, website replaced with information
2018-04-15 Support closes, all Novaexchange user data removed

Remaining user balances that has not been withdrawn before 2018-04-01 will be considered a donation and is not refundable.


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jhenfelipe
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October 30, 2017, 11:39:49 AM
 #43

from Novaexchange


Intimation of closure of Novaexchange
Kindly note "Novaexchange" will have new owners and management effective April 2018, with major upgrades to the exchange to better handle scaling, stability and security.
For better management and security of customer funds we have decided to close down Novaexchange so that the users can withdraw all their funds with no participation/responsibility of action of the new management.

Preliminary plan:
2017-10-30 This information goes public, user registration closes, addcoin page closes, disabling deposits of ETC and ETH
2017-11-30 Deposits disabled for ALL coins, all users get level 3 verified account level
2017-12-15 ONE last deposit scan to take care of deposits made after 2017-11-30
2018-01-31 Email reminder to all registered users
2018-02-28 Trading engine stops, dice game stops, API stops
2018-03-31 Login stop, website replaced with information
2018-04-15 Support closes, all Novaexchange user data removed

Remaining user balances that has not been withdrawn before 2018-04-01 will be considered a donation and is not refundable.
I've read it too. Here's the link for reference if ever anyone wants to check it from the site https://novaexchange.com/news/ , Email was sent as well to NovaExchange registered users. I hope all members will be aware of the news, everyone has a lot of time to transfer all the coins.


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October 30, 2017, 12:19:19 PM
 #44

thats horrible news. its my favorite exchange Undecided

i really wish they would do something to stay in business. maybe raise the trading fee or collect a monthly member fee. i would gladly pay.

so sad right now but hopefully they will turn it around somehow
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October 30, 2017, 01:24:58 PM
 #45

why so hard to access novaexchange ?

let us withdrawal our coin !
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October 30, 2017, 03:05:41 PM
 #46

The people who paid 1 BTC to get their coin listed on nova are surely going to be pissed.  Lips sealed

Seems strange to completely wind down a business, especially staging the shutdown over several months, in order to hand it over to new management. It's going to kill off a lot of goodwill.

One wonders whether there are liabilities the new owners want no part of, so for legal reasons they're only purchasing the assets of an officially closed company...
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October 30, 2017, 03:34:45 PM
 #47

hm very bad news Sad i really liked novaexchange and i really would love to buy some deep onions after the price drop and it was the only site listing them. I really hope they fix the login problem fast. Maybe its just a server overload after the email information...

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October 30, 2017, 03:46:08 PM
 #48

hm very bad news Sad i really liked novaexchange and i really would love to buy some deep onions after the price drop and it was the only site listing them. I really hope they fix the login problem fast. Maybe its just a server overload after the email information...

I hope they will re-open after a short period as stated in their communication, but this closure is pissing me too... I don't understand why they can't simply remain open and do the upgrades

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almightyruler
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October 30, 2017, 04:11:52 PM
 #49

Wonder how many coins are going to be 'orphaned' by the closure. I've been working through the list and there's a lot of obscure coins that seem to exist solely for the purposes of trading on nova.

Pay 1 BTC to get your new cloned coin listed on Nova
???
Profit!
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October 30, 2017, 04:14:01 PM
 #50

hm very bad news Sad i really liked novaexchange and i really would love to buy some deep onions after the price drop and it was the only site listing them. I really hope they fix the login problem fast. Maybe its just a server overload after the email information...

I hope they will re-open after a short period as stated in their communication, but this closure is pissing me too... I don't understand why they can't simply remain open and do the upgrades
i keep wondering about that too. Maybe they already got some Problems with the authorities which they chose to not communicate to the public? Smells fishy anyway Sad

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October 30, 2017, 09:38:46 PM
 #51

Novaexchange will have new owners and management effective April 2018, it's not closure of Novaexchange just change of owners and management. by the way what is the site similar to Novaexchange?

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October 30, 2017, 10:42:16 PM
 #52

One wonders whether there are liabilities the new owners want no part of, so for legal reasons they're only purchasing the assets of an officially closed company...

I'm trying to come up with a logical explanation for this, and I'm coming up empty. Why would the new management company even bother buying these assets? The user base will have left the exchange and withdrawn all assets. Trading will be dead and one cannot reasonably expect it to return after a complete wind-down.

There is better order matching code (even open-sourced), so they are basically just paying for the database. They're probably better off just buying the leaked Bitcointalk or BTC-E databases, IMO. Tongue
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October 31, 2017, 05:51:25 AM
 #53

Novaexchange will have new owners and management effective April 2018, it's not closure of Novaexchange just change of owners and management. by the way what is the site similar to Novaexchange?

Disabling deposits for 4.5 months and ceasing trading for 1.5 of those months seems pretty close to a 'closure' to me. Definitely not a smooth changeover.
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November 06, 2017, 12:07:07 AM
 #54

Without wanting to sound like a scab...

What other exchanges are there which are similar to Nova? Those which have a variety of obscure and unusual coins.

I spent a lot of time getting the Nova API working with my private mining pool, then two weeks later they announced the closure.  Lips sealed
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November 12, 2017, 05:49:53 AM
 #55

Just a quick warning that the estimated BTC value on the balances page will probably be way off, especially if it's an obscure coin with large spread and relatively little trading.

I just sold off about 10 different currencies, using an API system that calculates the best sequence of pairs to use for maximum profit...

Value estimated by Nova before sale: 0.0350
Actual value after sale: 0.0017

Actual value was one twentieth the estimated value.
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November 22, 2017, 03:27:58 PM
 #56

With no further update on the plans by new owners I shall assume that the staged shutdown will proceed as planned, which means customers have approximately one week before all deposits are disabled. So if you have an obscure Nova-only coin that you're holding, deposit it now.
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November 30, 2017, 10:35:23 AM
 #57

Deposits are now disabled. They will not show up as pending, and will not be credited to your account as the network confirms them.

According to the news, there will be one final deposit sweep on 15th December to catch any pending deposits. Any further deposits after that date will not be credited.
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December 16, 2017, 10:26:08 AM
 #58

Talking to myself here, I guess...

The final deposit sweep has been done, so if you accidentally deposited funds on or after 30th November, they should show in your account at Nova now.

Don't attempt any further deposits as they are unlikely to work (the news page says any deposits after that date will be considered a donation to Nova)

The news page says it "may" be continuing in February 2018, but for now, assume the exchange is closing. They would have lost a ton of goodwill by half shutting down for a few months anyway.
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