Bter account hacked

[sumantso]

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  

[temor]

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.

[sumantso]

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.

[mm8000]

Did you use the same password for any other sites?

Or was it a simple or common password?

[Jkljkl]

Don't keep your coins on exchanges.

[sumantso]

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.

[Oldminer]

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

This ^^

Use Cryptsy which is US-based.

[sumantso]

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.

[BitJohn]

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]

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.

[sumantso]

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

[FiiNALiZE]

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.