Ripple wallet getting ripped on Coinpayments.net

[frank1234]

Lost all my Ripples also 

Hope they can fix it, however that will not be easy.
Will wait and see.

[1714771873]

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[wizziweb]

There is already a petition for Coinpayments.net to pay back the ripple or face legal action
https://www.facebook.com/groups/1986688654888260/

thats a waste of effort, they clearly say they are working on restoring the funds, not taking them. why can't people just read lol?

If your money was involved in this you will not say that. With crypto currencies, time is everything. I could have traded my ripple for some other currency to increase its value. You cannot hold onto someone's money for whatever reason. It is the company's responsibility to restore all the missing amount in a timely fashion however they want to do it rather than spread all the payment and pay peanuts to member's account until the balance is complete. What is this? An investment site or what?

It did involve my money, and I can read, unlike most of the people here crying about an email they aren't even reading. I've been using them for almost 4+ years, never had no issues. Support always helped with what they could. So when I got this email, I opened a ticket support ticket and asked. (Even tho in the email it says support can't answer questions about this.) They said they are working on it, and its a big mix so they are working hard to get it all fixed. If they wrote it down and sent it to everyone, then that's what I have to go by. Other places that get hacked and other things, just go hide behind lawyers and bankruptcies. These guys at least admitted that shit fucked up, and they are trying to get it back. Instead of fuck you, find us in court. All I can do is give them time to fix the shit, like anyone else. Starting pathetic facebook groups for something that is slowly being solved shows what kind of illiterate scumbag you are. lol

I see you are quick to call people names or use offensive language. Lets just say some of us are more mature and wont get involved an online brawl. Thanks for your input. Have a nice day

[tonedout]

There is already a petition for Coinpayments.net to pay back the ripple or face legal action
https://www.facebook.com/groups/1986688654888260/

thats a waste of effort, they clearly say they are working on restoring the funds, not taking them. why can't people just read lol?

If your money was involved in this you will not say that. With crypto currencies, time is everything. I could have traded my ripple for some other currency to increase its value. You cannot hold onto someone's money for whatever reason. It is the company's responsibility to restore all the missing amount in a timely fashion however they want to do it rather than spread all the payment and pay peanuts to member's account until the balance is complete. What is this? An investment site or what?

It did involve my money, and I can read, unlike most of the people here crying about an email they aren't even reading. I've been using them for almost 4+ years, never had no issues. Support always helped with what they could. So when I got this email, I opened a ticket support ticket and asked. (Even tho in the email it says support can't answer questions about this.) They said they are working on it, and its a big mix so they are working hard to get it all fixed. If they wrote it down and sent it to everyone, then that's what I have to go by. Other places that get hacked and other things, just go hide behind lawyers and bankruptcies. These guys at least admitted that shit fucked up, and they are trying to get it back. Instead of fuck you, find us in court. All I can do is give them time to fix the shit, like anyone else. Starting pathetic facebook groups for something that is slowly being solved shows what kind of illiterate scumbag you are. lol

I agree with you and had money involved too.  They owned up to it and said they're trying to fix it.  I respect that. 

[cryptonikus]

Oh wow it seems like a big problem for ripple and just when the probable Mastercard deal was maybe going to boost it's price. Hope to see the guys regain their XRP back. I don't like the coin in general, but it's bad press for all of us if people simply lose their money due to technical issues. Good luck!

[Boxxl]

I don't think its a problem with Ripple.
It's a problem on Coinpayments.net.

[JoelKatz]

I have no special knowledge of what happened with coinpayments and it may or may not relate to the quality of their XRP integration. But I have seen several issues caused by poor integration of Ripple. I just want to state again that we (Ripple) are willing to work with companies that want to integrate XRP to ensure they are aware of best practices, commonly made integration mistakes, and so on.

In particular, it is absolutely vital to keep in mind that all the information in the transaction itself is supplied by the user and should not be considered trusted except as an indication of the user's intentions. The servers then process the transaction and report what actually happened, outside the transaction. Because things like varying exchange rates in cross-currency payments can be involved, it is not possible for the transaction itself to describe what actually happened. It is not possible for the system to change the transaction to reflect the results of its execution because it is signed by the user and its hash is the transaction ID, which must be immutable to make it possible to track the transaction through its lifecycle, from before it's executed until after.

For things like the destination tag, all you care about is what the user wanted the destination tag to be. But for the amount, for example, you don't care what the user wanted the amount to be, only what the network was able to actually deliver.

It is also important to keep in mind that a transaction succeeding just means it did something. You have to dig into the metadata to see what it did.

[Johnm2017]

I got the same e-mail. I lost all my Ripple. Had almost 1k usd worth of Ripple.  How will they recover the ripple from someone who joined with only an e-mail address? The person who stole all our ripple knew what he was doing so i am more then sure that he emptied his ripple account hosted with coinpayments.net

Dont know what else i can do to recover my ripple from coinpayments.net

Should i trust them holding more altcoins in their wallets ? Will see abt that..

[Barbarian]

It seems this is getting solved, but without a doubt if I was the one in that situation I will be very worried about what happened to my coins. Best of luck to all of those that were affected by this.

[benthach]

I don't think its a problem with Ripple.
It's a problem on Coinpayments.net.

yes, all these new shills newbie accounts with an incompetent wannabe coin payment site and we have this post.

[chronoshift]

I also lost about 10,000$ worth of Ripple and am pretty worried that we won't see the Ripple again.  Just because they sent out an email saying they will fix the issue or offer revshare doesn't mean they actually will.  I hope a solution is found, but just because they say "we are working on it" isn't ground for relaxing and thinking everything is fine.  I'm looking for alternative solutions for my store.

[caszor]

There is already a petition for Coinpayments.net to pay back the ripple or face legal action
https://www.facebook.com/groups/1986688654888260/

thats a waste of effort, they clearly say they are working on restoring the funds, not taking them. why can't people just read lol?

If your money was involved in this you will not say that. With crypto currencies, time is everything. I could have traded my ripple for some other currency to increase its value. You cannot hold onto someone's money for whatever reason. It is the company's responsibility to restore all the missing amount in a timely fashion however they want to do it rather than spread all the payment and pay peanuts to member's account until the balance is complete. What is this? An investment site or what?

It did involve my money, and I can read, unlike most of the people here crying about an email they aren't even reading. I've been using them for almost 4+ years, never had no issues. Support always helped with what they could. So when I got this email, I opened a ticket support ticket and asked. (Even tho in the email it says support can't answer questions about this.) They said they are working on it, and its a big mix so they are working hard to get it all fixed. If they wrote it down and sent it to everyone, then that's what I have to go by. Other places that get hacked and other things, just go hide behind lawyers and bankruptcies. These guys at least admitted that shit fucked up, and they are trying to get it back. Instead of fuck you, find us in court. All I can do is give them time to fix the shit, like anyone else. Starting pathetic facebook groups for something that is slowly being solved shows what kind of illiterate scumbag you are. lol

I see you are quick to call people names or use offensive language. Lets just say some of us are more mature and wont get involved an online brawl. Thanks for your input. Have a nice day

Not trying to start anything, just stating what's out there. Basically they messed up, yes. But they are owning up to it, and keeping it transparent (as far as I can see). I didn't even keep up with my ripple balance so they honestly could have taken it and ran with it, I would have not known at all. But that's not what happened.

So that's just why I said it's a waste of time to try some legal action. What if you do actually pull thru into getting all the resources to file it. Then CoinPayments return your funds as they said they are trying to do? Will the courts return your fees then?

Take it easy out there. lol

[engelpv]

There is already a petition for Coinpayments.net to pay back the ripple or face legal action
https://www.facebook.com/groups/1986688654888260/

thats a waste of effort, they clearly say they are working on restoring the funds, not taking them. why can't people just read lol?

De igual manera se debe dar seguimiento a este asunto y hacer presion porque si no es muy posible que ni tomen buenas acciones, por eso es necesario tomar conciencia y no dejar este asunto asi nada mas.

Hay que seguir difundiendo el grupo de facebook de los afectados de coinpayment:

https://www.facebook.com/groups/1986688654888260/

[abcgoodyabc]

Got a reply from support:

We are working on restoring everyone's balances as we are collecting back overdrawn funds. All reimbursed funds will be distributed evenly between all effected user as those come in. We will also divert 33% revenue share to all accounts in order to speed time of balance recovery. Unfortunately we are unable to provide any more information for individual accounts, in short; your balance will be restored once we collect the missing funds for everyone.

Mr. Data - Technical Support

Let's wait and see seems like they are working on it

i got exactly the same reply from support.

[chronoshift]

Has anyone heard anything new from Coinpayments?  Don't let this issue stay quiet

[Johnm2017]

Has anyone heard anything new from Coinpayments?  Don't let this issue stay quiet

Up to this moment coinpayments.net sent me no message regarding my ripple being stolen. I've seen a message from them on other forums that they are trying their best to solve the problem ...

[JoelKatz]

Some questions to ask coinpayments:

1) Are the specific funds missing their funds or their customer funds? Who owned the funds that were stolen?

2) Are they accepting or conceding their liability for the missing amounts? Their emails are ambiguous.

3) In what units are they tracking the missing funds? Are they planning to return the amount of XRP missing or the equivalent USD value?

4) If they are not liable, what is their theory for why they are not liable?

5) If they are liable, what is their theory for why they can impose this loss entirely on one class of their customers? What is their legal theory justifying them imposing their choice of which customers suffer from the loss and which don't?

6) Are they going to disclose what happened in sufficient detail to allow affected customers to evaluate the these questions themselves? If not, do they agree that this virtually forces affected customers to either trust them on no basis at all or sue them?

[BitsofTwits]

Some questions to ask coinpayments:

1) Are the specific funds missing their funds or their customer funds? Who owned the funds that were stolen?

2) Are they accepting or conceding their liability for the missing amounts? Their emails are ambiguous.

3) In what units are they tracking the missing funds? Are they planning to return the amount of XRP missing or the equivalent USD value?

4) If they are not liable, what is their theory for why they are not liable?

5) If they are liable, what is their theory for why they can impose this loss entirely on one class of their customers? What is their legal theory justifying them imposing their choice of which customers suffer from the loss and which don't?

6) Are they going to disclose what happened in sufficient detail to allow affected customers to evaluate the these questions themselves? If not, do they agree that this virtually forces affected customers to either trust them on no basis at all or sue them?

Hello JoelKatz,

Your questions appear inflammatory and do nothing to help us work through this issue with our clients. Understand that people are worried about their funds and we have made it very clear that we are taking responsibility for the safe return of the users stolen XRP.

Due to the delicate nature of the issue along with legal implications, we cannot provide further information in the detail you have requested. However, we are currently working with Miguel at Ripple OTC if you need to learn more.

Please await a formal update from CoinPayments which will follow shortly.

Sincerely,
CoinPayments Inc.

[JoelKatz]

Your questions appear inflammatory and do nothing to help us work through this issue with our clients. Understand that people are worried about their funds and we have made it very clear that we are taking
responsibility for the safe return of the users stolen XRP.

I owe you guys an apology. I was just shown the full text of an email you had already sent to customers several days before my comment that actually answers most of these questions. I had previously seen another email and an excerpt from this one, but not the part that answered my questions.

Due to the delicate nature of the issue along with legal implications, we cannot provide further information in the detail you have requested. However, we are currently working with Miguel at Ripple OTC if you need to learn more.

I should say that I have no special knowledge about this incident, nor have I communicated with anyone else at Ripple about it other than briefly to offer assistance and was told that it was not needed.

[tonedout]

Email update from Coinpayments:

To all our valued customers,

As many of you know, we are standing at the edge of a new society one where currency is digital and massively global. It is CoinPayments mission to keep ahead of the changes and allow our clients to have the best advantages at every turn. With a new world and a new system there are many new opportunities and risks that are undertaken. We are writing you today regarding our continuing investigation into the theft of our user's Ripple coins from the CoinPayments system. As most of you are aware, we discovered a technical issue with the Ripple hot wallets on June 5th, 2017. This security flaw was immediately rectified upon discovery, however the vulnerability allowed a handful of users to overdraw XRP from other user’s accounts.

The total exposure of this theft was over 21 million XRP coins spread across our user base. Through the diligent work of our core developers we have managed to track most of the stolen funds between a few major suspects. These identities will remain private as law enforcement agencies are still completing the investigation.

Firstly, we want to assure you that we take this matter very seriously and we value our user community and our reputation. CoinPayments is committed to returning all the funds that were stolen to every user affected by this crime.

We have identified every person who took advantage of this vulnerability and have reached out to them via our securities lawyers in the hope this was done in error and not in a malicious way.

Many users have come forward and returned the coins they mistakenly withdrew, however the reclamation of the majority of missing Ripple coins from the major suspects is taking much longer than anticipated as this investigation continues.  With the cooperation of local and international authorities we are pursuing this with the full extent of the law.

To show our commitment to our users we are dedicating our entire corporate liquidity reserves to procure XRP coins directly from the Ripple Inc, OTC (over the counter) purchase desk. The core members of our team will also be using our personal funds to assist with the speed of this recovery.

Ripple Inc upper management was immediately contacted in an effort to restore user funds as quickly as possible by purchasing them directly off the market. A purchase of this size on the open market through exchanges would be inefficient and manipulative to the XRP price.  Ripple Inc has graciously offered us locked in current rates for XRP coins in order to facilitate our purchase. This process requires very thorough Know Your Customer and Anti Money Laundering protocols which CoinPayments has been facilitating over this week and finally completed today.

We were hoping to begin reimbursing our users for their losses beginning today, Friday, June 16th, 2017, however due to the large amount of funds required and the complexity of this transaction it will take us through the weekend to complete the Ripple purchase. User accounts will reflect the distribution of the funds in XRP coins as soon as our wire is confirmed early next week. We will continue to update the community as the situation progresses.

The stress and pressure you are feeling is not unheard or taken lightly. We at the CoinPayments community carry the burden of stress in our partnership with you ten-fold. We understand many have used their savings and have mentioned lawsuits. Our desire is that in the months and years you have partnered with us, that we would work through this together and conquer the challenges ahead. We are here to protect the investments and recoup any losses that have occurred. We understand the urgency and frustrations of all of those involved and appreciate all your patience and support. We hope to build a stronger and tighter community through these challenging times.

Rest assured, the CoinPayments team is working day and night WITH you to restore what was lost. Please stay focused on the task at hand and let us recover the money together. We will continue to operate with the transparency and integrity that this community deserves.

We have taken initiative to create a Public Relations department in order to deal with correspondence to the situation at hand. Please forward all inquiries to pr@coinpayments.net, Thank you.

Sincerely,
Alex Alexandrov
CEO of Coinpayments Inc.

[tonedout]

Thank you, Coinpayments.