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Author Topic: Black Market Reloaded closes doors, restitutes all BTC balances! -edit- reopened  (Read 4342 times)
Spekulatius
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October 17, 2013, 06:03:08 PM
 #1

I cross post my post from Bitcoin Discussion here:
https://bitcointalk.org/index.php?topic=313008.msg3357205#msg3357205


https://fec33nz6mhzd54zj.onion.to/viewtopic.php?id=9394

BMR owner backopy writes today:

Quote
During these days I'd to commit the worse of the sins to get the site online; use a VPS!
The VPS admin had stole the code and leaked it.
This means I can't operate anymore.
I'd read the rumors, and I've to say I'm not BCE, but his work was where I learn some basics to build the site.

I'll put up in a few days a system to allow you to recover your BTC, they went nowhere and I've all needed data to refund them.

I can then confirm this is actually BMR's index.php file:
http://iobm.net/forum/dos/index.php/topic,17.msg113.html#msg113

All the best and until the next time,

backopy

----UPDATE 2013 10 17 1500 UTC ----
Roadmap to recovery:

I'll be creating an address where you may enter your username, password and then the address you want to withdraw the coins to.

Escrow and so on, to be dealt later on.

Immediate user comments in BMR Forum:

Quote
arnie420 Today 13:45
omg no! this is like my worst nightmare came true fuck just when i thought the dust from sr settled...

Quote
backopy Today 13:45
I hire hits on nobody, it's just sad that someone is running a VPS to peek its contents to pretend to be a hacker.

Quote
mikezolinski Today 13:46
So this is it? It's over?So this is it? It's over?

Quote
backopy Today 13:48
Yes, I'll be building BMRv5 and come back in the future but the roadmap is still long.


So what does this entail for price? In the next few days lot of Bitcoins are going back to BMR buyers/sellers. With it the last online blackmarket powered with BTC, I know of, closes down:
SR: servers seized, owner on trial, users being prosecuted;
Atlantis: closed down, potential scam;
Sheep market place: Massive security breach,
BMR: Massive security breach, closed down.

There are none left for buyers/sellers to go to, at least no place I know of. Does this mean we will see a lot of dumps in the next few days as users withdraw their BTC balances and turn them into something they can buy their drugs with (fiat)? How much BTC was on their wallets anyway?

-edit- site owner put site backup over relieved concerns of insecurity.
http://atlantisblog.org/black-market-reloaded-back-online-after-false-alarm/
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SheHadMANHands
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October 17, 2013, 06:06:18 PM
 #2

There's a whole Reddit that's been up for a few hours on this:
http://www.reddit.com/r/Bitcoin/comments/1on9v0/black_market_reloaded_closes_its_doors/

Looks like re-opening in a month.  Also, people are working on a decentralized solution, so I hear...
MAbtc
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October 17, 2013, 06:18:51 PM
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Hmmm, interested to hear what people think about this, in regards to price action. I have no idea what to think anymore after the market reaction to the SR bust.
Spekulatius
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October 17, 2013, 06:25:31 PM
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Hmmm, interested to hear what people think about this, in regards to price action. I have no idea what to think anymore after the market reaction to the SR bust.

Same here Wink

I guess to estimate the impact this may have we need to find out
- How many BTC there were in the user wallets
- When users get their BTC back (according to site administrator in the next few days)
- If there are any alternatives for users to goto (except for Sheep Market Place with gaping security holes IDK)
MAbtc
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October 17, 2013, 06:34:02 PM
 #5

I saw something about the owner of BMR planning to rebrand and come back, but was not clear on the time frame. Is Sheep Market Place the only other? I'm sure some users would keep their funds in bitcoin, but hard to say what %.
TERA
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October 17, 2013, 06:37:11 PM
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The Chinese do not even use drugs!
joesmoe2012
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October 17, 2013, 06:41:31 PM
 #7

Sheep marketplace is down too right now isn't it?

Spekulatius
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October 17, 2013, 07:26:26 PM
 #8

The Chinese do not even use drugs!

Proof? I think the idea of hidden anonymized market places would work everywhere as good and would be equally appealing. Maybe you just dont know about them because they are in Chinese?
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October 17, 2013, 07:35:15 PM
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The Chinese do not even use drugs!

Proof? I think the idea of hidden anonymized market places would work everywhere as good and would be equally appealing. Maybe you just dont know about them because they are in Chinese?

I have a lot of Chinese family. Having said that, my experience is obviously anecdotal. But my feeling has always been that there is a much stronger emphasis on legality among Chinese than say, people in the US. Lots of gambling, booze and tobacco -- but in my experience, I have seen very little interest in drugs.
Odalv
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October 17, 2013, 08:09:08 PM
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Hmmm, interested to hear what people think about this, in regards to price action. I have no idea what to think anymore after the market reaction to the SR bust.

Same here Wink

I guess to estimate the impact this may have we need to find out
- How many BTC there were in the user wallets
- When users get their BTC back (according to site administrator in the next few days)
- If there are any alternatives for users to goto (except for Sheep Market Place with gaping security holes IDK)

I'm sure than nobody who once understood power of bitcoin will convert it back into fiat.
Spekulatius
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October 17, 2013, 08:12:53 PM
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Hmmm, interested to hear what people think about this, in regards to price action. I have no idea what to think anymore after the market reaction to the SR bust.

Same here Wink

I guess to estimate the impact this may have we need to find out
- How many BTC there were in the user wallets
- When users get their BTC back (according to site administrator in the next few days)
- If there are any alternatives for users to goto (except for Sheep Market Place with gaping security holes IDK)

I'm sure than nobody who once understood power of bitcoin will convert it back into fiat.

Unless you run a business dealing illicit substances.. Cool
Spekulatius
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October 17, 2013, 08:16:09 PM
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The Chinese do not even use drugs!

Proof? I think the idea of hidden anonymized market places would work everywhere as good and would be equally appealing. Maybe you just dont know about them because they are in Chinese?

I have a lot of Chinese family. Having said that, my experience is obviously anecdotal. But my feeling has always been that there is a much stronger emphasis on legality among Chinese than say, people in the US. Lots of gambling, booze and tobacco -- but in my experience, I have seen very little interest in drugs.

Ok, I guess the whole opium stereotype is outdated, but there sure are alot of illegal things that Chinese people cannot buy on the open market, like religous accessory, censored books & movies, banned animal parts for traditional medicine (I guess), or simply plainly illegal goods such as stolen or forged identity cards, bank accounts or credit cards.
Odalv
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October 17, 2013, 08:22:43 PM
 #13

If you have bitcoin then you do not need BMR, SR,  Sheeps ... (they are useful but not required)
 1. seller just leaves message on forum "SR(I'll sell a milk) - ${his public key}"
 2. customer will reply with message encrypted by this public key (message can contains new keys for next comunications)
freethink2013
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October 17, 2013, 08:25:54 PM
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The Chinese do not even use drugs!

google The Opium Wars
theonewhowaskazu
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October 18, 2013, 02:21:43 AM
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It seems like another one will pop up for sure. These sites can't be that hard to run, all you need is a basic script allowing people to send messages & post listings which seems pretty trivial, a coin mixer algy, and some anonymous .onion hosting. The most important ingredient is trust, not coding knowledge or money, so it seems like another trusted entity involved with this type of thing is bound to create another marketplace.

BitcoinAshley
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October 18, 2013, 02:45:36 AM
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It doesn't appear to be affecting price i.e. people aren't panic selling. So much for the "bitcoin rides on silk road/illegal drug sales" trolls.

In fact, people aren't even panic-selling because "omg all internet druggie dealers are gonna go on and sell their BTC for fiat in the next few days and then transfer it to their bank account where they can explain to teh IRS how they made all that money" 
Looks like speculators have already discounted that as "chicken little bullshit."
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October 18, 2013, 03:42:20 PM
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BMR back up now?  Think I got whiplash on that one.

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theonewhowaskazu
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October 18, 2013, 05:53:04 PM
 #18

Lol @ month until recovery.

TERA
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October 18, 2013, 07:03:02 PM
 #19

This is bearish news. The Chinese want a drug-free bitcoin.
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October 18, 2013, 07:05:53 PM
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This is bearish news. The Chinese want a drug-free bitcoin.

I want a drug-free USD Roll Eyes

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