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Author Topic: Preliminary Scam Accusation vs Cryptopia for holding customers funds  (Read 829 times)
Tankie
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February 15, 2018, 10:56:45 PM
Merited by PoolMinor (1)
 #21

I can confirm Cryptopia is at worst a scam and at most extremely incompetent and negligent to the point of being illegal. Its fine until you have a problem, and then suddenly it is seriously not fine. This may be days or months down the track, but eventually you will be hit with a problem, and when you are, god help you if you ever want to see your money again.

Personally, I had used Cryptopia for months with no problem. I was getting more confident with crypto and trading, and I saw an opportunity to make some small gain by finding a difference in the spread of an altcoin compared to another exchange. I transferred some bitcoin to the other exchange, changed to the altcoin, and transfered back to cryptopia. However this deposit did not arrive. I know the blockchain can take a while to process so i wasnt too worried, however as the hours started to drag on I was starting to feel uneasy. It was a very high risk altcoin with wild fluctuations, hence the potential to make money on the difference in exchanges, however as I saw the blockchain start to gather confirmations and still no sign of it in cryptopia I started reading these forums and got a little panicked, I went to their support page and saw no contact details, no phone number, no email, only a ticket system with a wait time of 35 days. Wait... 35 Days?!? That must be a typo??? On a multi-million dollar financial service provider where daily fluctuations mean millions of dollars come and go and there is a 35 day wait to look at a problem? By now I was in full panic mode, I tried to withdraw all my coins from Cryptopia, and got the dreaded processing error.

All I could do as the hours, now days, ticked by, is watch my portfolio plummet. It was a high risk trade and i made a nice penny, but now I am losing about $100 an hour for every hour I cant withdraw. After 3 days, and now hundreds of confirmations on the blockchain, my coins were finally processed by cryptopia. After reading these forums, I consider myself lucky to only have only waited 3 days and lost $7000. Support never replied.

Now you my say, that is not a scam, thats just network errors, however, when dealing with millions of dollars, no support, Cryptopias own coin explorer said no problems with that coin, the blockchain has processed it, and Cryptopias own terms and conditions state they are not responsible for network problems outside of their control, however this was Cryptopias NETWORK and under their COMPLETE CONTROL. They were legally responsible to cease all withdraws / deposits if there was a known problem, would you feel safe depositing in their exchange again?

I will never use this service again and I seriously urge anyone who values their crypto portfolio to stay as far away as possible.
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oranges411
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February 16, 2018, 04:03:30 AM
 #22

Cryptopia dont steal your Coins , lol  

Maybe thinking about what Shit you talking about !

There are some backlogs , issues with wallets and other things , because an exchange wallet isnt the same as a wallet at your home PC ,

also this wallet runs on a seperated Blockchain who Cryptopia runs on !  You know nothing how this all works !

Also there is backlog in support tickets we known this and catching up !

But the First you all  write is  this is Scam and we steal coins , but this is not true !


I guess maybe i get now again spam mails and bad trust , or someone goes personaly offensive in threads about me , but i only tell you this all ,  i dont can anything about every issue that was happend !

should be the only post i do in here !


Regards Lafu

I'll just say I got my gbyte back from cryptopia in December after waiting a few weeks.   It just showed up one day.

However the lack or professionalism in their contact methods is worrying, I wouldn't use Cryptopia anymore honestly.  Or at least wait until they can truly handle the volume of customers they have.  And ALWAYS send small amounts before sending larger amounts of any coin.  The deposits/withdrawals are unreliable.
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February 16, 2018, 07:23:07 AM
 #23

Cryptopia dont steal your Coins , lol  

Maybe thinking about what Shit you talking about !

There are some backlogs , issues with wallets and other things , because an exchange wallet isnt the same as a wallet at your home PC ,

also this wallet runs on a seperated Blockchain who Cryptopia runs on !  You know nothing how this all works !

Also there is backlog in support tickets we known this and catching up !

But the First you all  write is  this is Scam and we steal coins , but this is not true !


I guess maybe i get now again spam mails and bad trust , or someone goes personaly offensive in threads about me , but i only tell you this all ,  i dont can anything about every issue that was happend !

should be the only post i do in here !


Regards Lafu

I have used the word preliminary for a reason. I haven't said you scammed anybody (yet).
Most of us know the difference between exchange wallet operations and average Joe use. That's not the point.
The point is the utter lack of support on the matter.

Don't get upset, what would you do if your funds were blocked in a conundrum for far too long?

Thanks for your reply, at least you've read our point.

I am not interested in preserving the status quo; I want to overthrow it. Niccolò Machiavelli
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February 16, 2018, 09:04:11 PM
 #24

That guy actually works for them? Hard to believe. Seems like he's just some affiliate referral hustler to me.

If he actually does work for them, and talks like that, it's another bad sign I'd say.

Days keep passing, GBYTE stays locked. Nothing but silence from Cryptopia, and even the NZ Commerce Commission hasn't responded.

Was poking around on Cryptopia's forums and needless to say they have tons of upset customers. Someone put together a list of NZ authorities to contact, including the police, business bureau, etc. I will consider it if nothing happens by next week.

EDIT: Cryptopia responded to my Facebook message: "Hi, thanks for the message. I've noted this to be passed on to our development team."

We'll see if that helps at all. Feel free to hit them up on Facebook if you want to help the cause.

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February 17, 2018, 08:46:42 AM
 #25


EDIT: Cryptopia responded to my Facebook message: "Hi, thanks for the message. I've noted this to be passed on to our development team."

We'll see if that helps at all. Feel free to hit them up on Facebook if you want to help the cause.


That is probably a standard reply: I got that too when I filed a ticket on the official exchange website. As I said somewhere else, with Byteball we have the chance to use those integrated exchange bots and I think we should start using them instead of sending bytes to the exchanges.

I am not interested in preserving the status quo; I want to overthrow it. Niccolò Machiavelli
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February 18, 2018, 07:33:23 AM
 #26

It's been two months now without any solution found to the GBYTE wallet issue.
Holding customers funds indefinitely without any communication or a timeframe offered at all it's not good.
Next Byteball distribution is in March and we would expect this to gets solved before then.
Hopefully this scam accusation here on BitcoinTalk will remind you to fix the issue.

Thanks


Not only byteball it seems but there is withdrawal issues with bitcoin as well. I just saw multiple threads open up about all kind of withdrawal issues.

I have no idea why cryptopia has gone downhill so fast. They used to be one of the decent small exchanges to exchange small cap altcoins with. But now, you can't even get your money out of their system which is absurd by any means.

In this case, at worst case scenario they have liquidity issues, at best they're still bad at communicating with their customers and probably don't give two damns about what happens to your byteball distribution. An exchange to avoid for sure.

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February 18, 2018, 01:31:16 PM
 #27

Shouldn't even preliminary anymore.  They've been giving the run around for too long.  Anyone from New Zealand?  Contact police!
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February 19, 2018, 09:45:56 PM
 #28

What if Cryptopia have been doing with NZDT what Bitfinexed is accusing Bitfinex of?
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February 20, 2018, 02:00:09 AM
 #29

I'd like to second this.

Cryptopia has been locking my GBYTE for the last 2 months. I filed 1 ticket on 12/18, which they dismissed, saying their wallet was "in maintenance mode" and would be restored.

Nothing has been done though. I filed a 2nd ticket on 2/9 and they have yet to respond.

The next Byteball distribution on March 2 has been announced since October or November I believe. Cryptopia is surely aware of it and might be scamming in order to steal users' distributions.


they are scamming everyone I hope the DEV never list any coins there, they should know better by now

if they do, then they might be working with cryptopia to scam people.
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February 20, 2018, 02:45:45 AM
 #30

not using them anymore , once a coin gets pumped they close the wallet and everything you can't withdraw or deposit or do anything at all and i suspect it's because of their shitty trading bots that can't nothing correctly. they fucked up my profit 4 times and BWK straw is the straw that broke the camels back.
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February 22, 2018, 08:17:15 AM
 #31

t's ridiculous for me to read users who have lost some fixed amount in real money (bucks) and try to file complaints with New Zealand's state structures.

Give those that so:

1) Everything should be according to the law
2) What is the maximum period under the law of New Zealand for withdrawals or in the input of funds (1 hour, 1 day, 1 month or 1 year) - I think there simply is no such legislation in which specific deadlines for withdrawing funds from the exchange of coins
3) All that is not prohibited by law - means allowed [/ b] !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
4) From the point of view of the LAW - you have not lost money (dollars) - you have lost coins, and this is not the same thing, since coins do not have established value by state regulators. For example, 1 dollar costs 56 Russian rubles, the price of which is set by the central bank of the Russian Federation. [/ b]
5) Ie. even if it comes to trial, you will not be returned $, you just return the coins. [/ b]
6) What is the maximum period from the point of view of the law is the cryptology for repairing the wallet? - he can be infinite, and you have to accept it.

Currency and commodity exchanges also sometimes suspend trading - if anyone did not know.

If I were a developer of cryptology, then the most "smart" users who scream that I'm a fraudster - would have blocked the account for a long time (even if it is verified) without explaining the reasons - in principle.

Or, in general, he would have stolen all the coins, brought them to the monero, ran through 10 accounts, made a transfer to bitcoin, took the bitcoin into dollars, and told the whole user that I was hacked and hackers stole money and try to establish that this is not so)) Well, they'll sue me, that I have to return the coins - and there's nothing on me except a shed and an old car - well, get one cent per year of compensation.

crypto-coins were originally scam projects, they just got into the promotion of a limited circle of people who know how to make money on other fools
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February 22, 2018, 08:47:34 AM
 #32

t's ridiculous for me to read users who have lost some fixed amount in real money (bucks) and try to file complaints with New Zealand's state structures.

Give those that so:

1) Everything should be according to the law
2) What is the maximum period under the law of New Zealand for withdrawals or in the input of funds (1 hour, 1 day, 1 month or 1 year) - I think there simply is no such legislation in which specific deadlines for withdrawing funds from the exchange of coins
3) All that is not prohibited by law - means allowed [/ b] !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
4) From the point of view of the LAW - you have not lost money (dollars) - you have lost coins, and this is not the same thing, since coins do not have established value by state regulators. For example, 1 dollar costs 56 Russian rubles, the price of which is set by the central bank of the Russian Federation. [/ b]
5) Ie. even if it comes to trial, you will not be returned $, you just return the coins. [/ b]
6) What is the maximum period from the point of view of the law is the cryptology for repairing the wallet? - he can be infinite, and you have to accept it.

Currency and commodity exchanges also sometimes suspend trading - if anyone did not know.

If I were a developer of cryptology, then the most "smart" users who scream that I'm a fraudster - would have blocked the account for a long time (even if it is verified) without explaining the reasons - in principle.

Or, in general, he would have stolen all the coins, brought them to the monero, ran through 10 accounts, made a transfer to bitcoin, took the bitcoin into dollars, and told the whole user that I was hacked and hackers stole money and try to establish that this is not so)) Well, they'll sue me, that I have to return the coins - and there's nothing on me except a shed and an old car - well, get one cent per year of compensation.

crypto-coins were originally scam projects, they just got into the promotion of a limited circle of people who know how to make money on other fools

It looks like you are on cryptopia scam.
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February 22, 2018, 09:10:30 AM
Merited by PoolMinor (1)
 #33

It looks like you are on cryptopia scam.

I've seen many of these kind of replies lately. The reverse/mirror accusation based on inability to argument. They don't work to the cause of the thread and they make you a fool.

When you're trying to prove an alleged scam, if you really belive there is a scam, the best thing to do in a discussion is to bring more data and references possible in order to prove the scam. Avoid opening other strands of accusation against other users who join the discussion, or at least try to argument against their arguments if you really belive in the scam or you legitimately have been a victim of a scam.

If you don't follow this simple modus operandi - sometime one is dragged by anger and it's difficult to stay calm and use the brain - you're defending the scam yourself because you're de facto derailing the discussion toward a brawl of quotes that most likely ends up in personal offences and anyone else new who wants to partecipate and bring his experience regarding the original scam, will end up stepping away from the dicussion because it's been made difficult to catch the important information regarding the alleged scam.

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February 22, 2018, 09:40:24 AM
 #34

marvel213

What is the maximum period for processing transactions and repairing the purses of stock exchanges in accordance with the law of the country in which the exchange is being dislocated? in New Zealand.

Who will give the answer? Yes, no one, I think that simply there are no such established deadlines for the fulfillment of obligations.
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February 22, 2018, 09:47:09 AM
 #35

What is the maximum period for processing transactions and repairing the purses of stock exchanges in accordance with the law of the country in which the exchange is being dislocated? in New Zealand.

Who will give the answer? Yes, no one, I think that simply there are no such established deadlines for the fulfillment of obligations.

Well, even if there is no guarantee, of course they must be "reasonable". Let's take as parameter the bank transfer, it usually takes 2-3 working days. I think, at worst, crypto exchanges shouldn't hit that limit, the optimal timeframe for a withdraw should range, imho, from the minutes to a maximum in case of network congestion or very high platform usage, 1 day, 2 days top.

If that limit is exceeded, there are some issues somewhere for sure.

By the way Cryptopia just released a news regarding deposits and withdraws:

https://www.cryptopia.co.nz/News


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February 22, 2018, 09:54:39 AM
 #36

marvel213

What is the maximum period for processing transactions and repairing the purses of stock exchanges in accordance with the law of the country in which the exchange is being dislocated? in New Zealand.

Who will give the answer? Yes, no one, I think that simply there are no such established deadlines for the fulfillment of obligations.

There's a moral conduct in business practices.  May you should try it sometime.

Cryptopia hasn't done what they are supposed to be doing.  That's taking care of business.   Instead they've got retards on the internet attacking customers who make them money.
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February 22, 2018, 09:59:02 AM
 #37

 StelioKontos

I agree with you - usually payments from debit cards and transfers are executed within a few minutes (1-10), although banks say that it can drag on for several days.

But then again - when we purchase a debit card, or open a settlement account with a bank, we sign the contract, to some extent. And banks, in turn, work on the basis of the laws of the countries in which they are based.

For some offenses with the United States you can get into jail for 10 years, in Russia, just fine $ 100, and in China can shoot or give a life sentence. Again, "everything that does not prohibit the law or the contract - it means allowed." For example in Russia, if an ATM gave you an error by mistake more than you indicated in the terminal and your account shows $ 100 instead of $ 1000, then it is considered that you stole $ 900 from the bank if you do not inform the bank or the police about it. Even if the fault is all a malfunction in the bank's trimming.


In any case, to say that the stock exchange is a fraud early - while the owners of exchanges have not closed the site, they did not go to the beach to spend millions of dollars. If you have borrowed money to your friend, and because of him problems he can not return them on time - he is not yet a fraud.
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February 22, 2018, 05:21:15 PM
 #38

At the very minimum they are dispossessing users of the time value of money. At the very minimum that is unethical.

But in truth, fraud falls on a spectrum. If your friend fails to pay you back for some period, he's already committing a certain level of fraud. It's just a slightly lesser fraud than if he never pays you back.

In the case of Byteball (GBYTE) for example, Cryptopia has no excuse, no extenuating circumstance to explain confiscating users' funds for over 2 months. The tech works flawlessly. It is a simple integration / update, and the lead dev of Byteball himself has been trying to reach out to Cryptopia:

Quote
in touch with them, trying to get them to pay attention, just a waste of time

I will be contacting NZ lawyers very soon.
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February 23, 2018, 10:34:12 AM
 #39

In the case of Byteball (GBYTE) for example, Cryptopia has no excuse, no extenuating circumstance to explain confiscating users' funds for over 2 months. The tech works flawlessly. It is a simple integration / update, and the lead dev of Byteball himself has been trying to reach out to Cryptopia:

Quote
in touch with them, trying to get them to pay attention, just a waste of time

I'm bringing the experience of ZOI since I'm and I've been in the public Discord and Slack channels and followed uplcose various stages of life of this coin, reading about upgrades and messeges of developers.

When there was a wallet upgraded needed to be installed on Cryptopia, devs of coin contacted them and they applied the requested upgrades in quite reasonable timeframe (1-2 weeks) about 2 weeks ago. In those 1-2 weeks wallet was under manteinance and also the market was paused. The devs reported that Cryptopia replied to to their requests, not instantly of course, but they did and applied the upgrades, there was also an hard fork to do.

So, every case has to be taken singularly, you must take into account that the devs may be lying to you too. As for this GBYTE coin I know nothing. Maybe, maybe, the devs aren't telling the truth, or maybe the upgrades needed to be installed on the Cryptopia's servers didn't work and it wasn't possibile to install and the devs are blaming Cryptopia instead of themselves in front of the users in order to move the blame from them to the exchange for not having to deal with angry users. I'm just throwing ideas here, because every situation and coin has its background, the variables in play are a lot.

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February 23, 2018, 11:33:04 AM
 #40

At the very minimum they are dispossessing users of the time value of money. At the very minimum that is unethical.

But in truth, fraud falls on a spectrum. If your friend fails to pay you back for some period, he's already committing a certain level of fraud. It's just a slightly lesser fraud than if he never pays you back.

In the case of Byteball (GBYTE) for example, Cryptopia has no excuse, no extenuating circumstance to explain confiscating users' funds for over 2 months. The tech works flawlessly. It is a simple integration / update, and the lead dev of Byteball himself has been trying to reach out to Cryptopia:

Quote
in touch with them, trying to get them to pay attention, just a waste of time

I will be contacting NZ lawyers very soon.

No need to argue with cryptopia sock puppets.  They are getting paid to steal your money.  Cryptopia isn't out to take care of business. They are out here trying to swindle people's money. I've been noticing a lot lately.  Cryptopia please do shut the fuck and take care of business.  That's paying back what's owed to your clintels.  Not hiring idiots trying to argue your idiot shit out of not paying people what's owed.
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