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Author Topic: Bter account hacked  (Read 842 times)
sumantso
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June 21, 2013, 10:19:49 AM
 #1

I had some 2.3 LTCs, 164 FTCs and enough BTC for 300 WDC  at Bter. Suddenly I saw a lot of ridiculous trades - buying at high prices and selling in low using YAC, BQC etc - are going through. I immediately reset the password but the damage was done. I am now left with only 105 FTCs.

Was my account hacked or Bter just go rogue? I spent a lot of time and effort to build up my collection and poof - all gone  Cry

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June 21, 2013, 10:24:11 AM
 #2

why are you keeping your funds in a fishy chinese exchange?..
keep your coins where they are safe and under your control. It's the only way to not lose them.

Please make a post in my Reputation Thread if we've had a successful trade.
sumantso
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June 21, 2013, 10:25:47 AM
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why are you keeping your funds in a fishy chinese exchange?..
keep your coins where they are safe and under your control. It's the only way to not lose them.

True.

Luckily I had my bigger chunk in my wallets. Never going to use Bter again in my life.

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June 21, 2013, 10:27:05 AM
 #4

Did you use the same password for any other sites?

Or was it a simple or common password?
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June 21, 2013, 10:27:46 AM
 #5

Don't keep your coins on exchanges.
sumantso
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June 21, 2013, 10:28:41 AM
 #6

Did you use the same password for any other sites?

Not exactly the same, but with a slight variant. I checked the others and they are safe.

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June 21, 2013, 10:28:49 AM
 #7

why are you keeping your funds in a fishy chinese exchange?..


This ^^

Use Cryptsy which is US-based.

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
sumantso
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June 21, 2013, 10:47:48 AM
 #8

I don't want to get into the China - USA debate; but I just hope people are aware of the pitfalls of an exchange with low volumes.

Seems to me since the hacker couldn't withdraw; he used the gap in the buy/sell orders to get money from me. Luckily I saw in time and saved 60% of my FTCs. Hopefully will make up the WDCs in the lotto.

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June 21, 2013, 10:48:55 AM
 #9

I don't want to get into the China - USA debate; but I just hope people are aware of the pitfalls of an exchange with low volumes.

Seems to me since the hacker couldn't withdraw; he used the gap in the buy/sell orders to get money from me. Luckily I saw in time and saved 60% of my FTCs. Hopefully will make up the WDCs in the lotto.

Need a new exchange? Come give cryptsy.com a try.
sumantso
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June 21, 2013, 10:51:56 AM
 #10

I don't want to get into the China - USA debate; but I just hope people are aware of the pitfalls of an exchange with low volumes.

Seems to me since the hacker couldn't withdraw; he used the gap in the buy/sell orders to get money from me. Luckily I saw in time and saved 60% of my FTCs. Hopefully will make up the WDCs in the lotto.

Need a new exchange? Come give cryptsy.com a try.

I am actually using Cryptsy as my main exchange. I made the first sale on AMCs.  Bter was still there as a legacy as I signed up when FTC was listed.
Probably will sign up for Phenix exchange to take the place of Bter.

I have mailed Bter support and waiting to see what their response is.

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June 21, 2013, 09:44:46 PM
Last edit: June 21, 2013, 10:19:40 PM by sumantso
 #11

Received a reply that they are looking into it. Though I don't hold out much hope that I will get my money back.

EDIT: No luck, so thats my coins gone then. Learnt a costly lesson Sad

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June 22, 2013, 01:06:27 AM
 #12

I trust cryptsy; BigVern is a respected member here.

But i'm keeping all my coins in cold storage. Best way to keep them safe.

 
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