Another exchange goes bust. Bitcurrex loses ~2300 BTC

[pawel7777]

http://www.razor-forex.com/2016/10/polish-exchange-bitcurex-looses-2300.html

The hack (?) took place on 13 October, they blame 3rd party interference in their data systems, in their statement they don't use term 'hack' or 'theft' but 'damage to the IT systems'.

Site is down with vague statement and some service opt out/refund request form https://bitcurex.com/ (in Polish)

Their official btctalk thread: https://bitcointalk.org/index.php?topic=792350.0

[Daffadile]

http://www.razor-forex.com/2016/10/polish-exchange-bitcurex-looses-2300.html

The hack (?) took place on 13 October, they blame 3rd party interference in their data systems, in their statement they don't use term 'hack' or 'theft' but 'damage to the IT systems'.

Site is down with vague statement and some service opt out/refund request form https://bitcurex.com/ (in Polish)

Their official btctalk thread: https://bitcointalk.org/index.php?topic=792350.0

I have never heard of them. How will the refund anyone ? They can't. This seems to be a thing going around where exchanges suddenly lose a whole lot of volume. Makes you wonder if it's on purpose or not.

Anyway an interesting read none the less.

[th3nolo]

I feel it's a bit irresponsible not to alert users from the begin. thats why I don't like to have my funds in one of those Exchanges. In most of the cases I made fast trades, in amounts that I will need for the week.

[shinratensei_]

http://www.razor-forex.com/2016/10/polish-exchange-bitcurex-looses-2300.html

The hack (?) took place on 13 October, they blame 3rd party interference in their data systems, in their statement they don't use term 'hack' or 'theft' but 'damage to the IT systems'.

Site is down with vague statement and some service opt out/refund request form https://bitcurex.com/ (in Polish)

Their official btctalk thread: https://bitcointalk.org/index.php?topic=792350.0

What is this with the total of 2,3k btc and why are not get listed in the exchange volume list? I guess are this a local exchange? what the hell about the fuckin trying for making new scenarios. This is my first time heard about the picture exchange.

[Arrakeen]

Highly doubtful they actually got hacked.  I'd be willing to bet they took the 2300 btc and ran, just like every other exchange has done in the past.  Who's gonna hold them accountable?  No-one.  Another millionaire borne, from the rest of us losing out. 

Never keep your funds on exchanges.

[QuestionAuthority]

 No this one is real. Every other exchange that got hacked starting with MtGox was faked but this one is real. ROFLMAO

Why does anyone ever use or trust a Bitcoin exchange now?  If this doesn't stop people are going to believe bitcoiners are nothing more than developmentally disabled idiots playing with money.

[Snorek]

I feel it's a bit irresponsible not to alert users from the begin. thats why I don't like to have my funds in one of those Exchanges. In most of the cases I made fast trades, in amounts that I will need for the week.

It is not the first and not the last time when exchange is not telling its users about problems they are having. It is common policy not to worry people.
Instead they always play dumb and 'everything is OK" - until the worst case scenario become reality and they can't no longer keep it under control.

With Mt.Gox was the same.

[cjmoles]

Wow....Not another one.

It reminds of that cartoon "Rocky and Bullwinkle." ( https://www.youtube.com/watch?v=kRW7pITY5Cg )

Bullwinkle: "Hey, Rocky.  Watch me pull a rabbit out of my hat."

Rocky: "Oh, no! NOT AGAIN?"

Bullwinkle: "See!  Nothing up my sleeve."

(Instead of a rabbit Bullwinkle pulls some random beast out of the hat)

Bullwinkle: "Hmm.  I think I used the wrong hat."

Rocky:  "And now, back to our show."

[Quantus]

http://imgur.com/a/O1Dox

[neochiny]

Oh well. It doesnt even come as a surprise anymore and yes it does makes one wonder, what is stopping this exchanges from stealing the customers coins then citing 'hack' blah blah blah. And from what I can see on the article, they're even blaming this on the "errors"  of some third-party system they're using?

As for the refund, I hope it happens. Especially since, according to their history, they've previously suffered from a 'hack' on their hot-wallets before so maybe now they have enough funds on cold-wallets to cover the 'refunds'?  Hopefull but doubtful.

[Snorek]

As for the refund, I hope it happens. Especially since, according to their history, they've previously suffered from a 'hack' on their hot-wallets before so maybe now they have enough funds on cold-wallets to cover the 'refunds'?  Hopefull but doubtful.

Well, Bitfinex suffered loss of 119,756 BTC far more than Bitcurex and they are still operational. 2300 BTC is only about $1.5 million.
But from the other hand, I don't know what was their total volume prior to this hack, but considered that they are local exchange it might be everything they had.

[MingLee]

Never heard of them, chances are they saw it was going to be more profitable to make money by running away with $1.5m rather than wait for clients to slowly give them their money through fees and other means. It's a shame, but chances are it would have been better to simply exchange on a bigger one.

[equator]

This is not new, That is the main reason that before going for any new exchange we have to check everything, but even after they becoming old exchange any time they can scam it, by saying that they got hack, or stolen.

[Doms]

This hacking thing, if it indeed took place, seems to be pretty common nowadays. I have not heard of bitcurrex before and the fact that they are not that large a company may have been the reason that they got hacked easily. The bigger ones are surely taking security to another level, what with the recent events. While these smaller exchanges could be prone to hacking because they don't have the same funds at their disposal.

[bigfryguy]

It is time for decentralized exchanges to take the forefront.....  the whole exchange scam has become such a load of rubbish.

[clickerz]

This is sad news indeed. What happens to investors bitcoins,they shall be refunded? They say damage to IT systems,not hack/theft...So, they are resposible and would pay the investor? Something fishy here,while bitcoin price is surging....

[pooya87]

it seems like every exchange service is starting to realize "getting hacked" is more profitable for them than running a legit exchange service. i mean look at bitfinex they were earning what only fees and other profit but after they hack they are richer by 120,000 bitcoin

~Why does anyone ever use or trust a Bitcoin exchange now?  ~

because there is no alternative for trading!

[~Bitcoin~]

Never used them and i think 2300 btc is quite heavy amount so chances of this being inside job of the exchanger employ or the owner is also quite likely. We need decentralized exchange as soon as possible, what bitsquare is doing right now? Can they be considered as decentralized exchanger?

[isen]

I am not surprised and I am afraid that more "hacks" like this will follow soon, people need to learn from previous mistakes and start realizing before it's too late that keeping their Bitcoins in centralized exchanges and online wallets is very risky.
Any predictions on who's next?

[iv4n]

One more exchange goes away. To be honest I didn't hear about this exchange site, this is my first time to hear they exists and in same moment I found out they lost all the coins they had.
Bad luck, damage on their servers, hack or what ever it is (literally can be anything) 2300 btc is big amount to be lost. Well this becomes usual practice, from time to time we see some exchange site goes down. I hope this will not stop this nice increase that bitcoin achieved in last couple days.