**CEX.IO Bitcoin Exchange ** Buy Bitcoins with Cards in iOS / Android App***

[CEX]

@Cex, Still no comment regarding the theft of bitcoin via maintenance fees i see...

@flip21
We agreed that it was our mistake.

According to our refund policy (https://cex.io/refund-policy)
Section 6 - PROCESSING TIMELINE

Refund/Return will be processed within twenty (20) Business Days from the date of notifying the User on the CEX.IO decision.

Since the request and final decision was sent on 17th of August - please give us time to process this request.

Thanks.

[1713482099]

1713482099

[flip21]

@Cex, Still no comment regarding the theft of bitcoin via maintenance fees i see...

@flip21
We agreed that it was our mistake.

According to our refund policy (https://cex.io/refund-policy)
Section 6 - PROCESSING TIMELINE

Refund/Return will be processed within twenty (20) Business Days from the date of notifying the User on the CEX.IO decision.

Since the request and final decision was sent on 17th of August - please give us time to process this request.

Thanks.

So does that mean you will refund everyone, regardless on whether they send a support ticket about it?

It is what you should do, be proactive rather than reactive.

EDIT: And also you should fix the "well known issue", regardless of whether you feel it is cheaper to refund the users own BTC. Bugs must be fixed as soon as they are noticed!

[CEX]

@Cex, Still no comment regarding the theft of bitcoin via maintenance fees i see...

@flip21
We agreed that it was our mistake.

According to our refund policy (https://cex.io/refund-policy)
Section 6 - PROCESSING TIMELINE

Refund/Return will be processed within twenty (20) Business Days from the date of notifying the User on the CEX.IO decision.

Since the request and final decision was sent on 17th of August - please give us time to process this request.

Thanks.

So does that mean you will refund everyone, regardless on whether they send a support ticket about it?

It is what you should do, be proactive rather than reactive.

EDIT: And also you should fix the "well known issue", regardless of whether you feel it is cheaper to refund the users own BTC. Bugs must be fixed as soon as they are noticed!

Currently it is hard to identify everyone who was effected by this.

If you want to get into details, here is a technical explanation of this error by our CTO:

"What you have experienced is a result of the system recalculating previous blocks. If there is a discrepancy found in maintenance or payout it is compensated. Even after you sell off your GHS the system performs those checks. These fees and payouts are technically for the older blocks that have already been paid out, but due to system limitation the number of currently mined block appears on the history at the moment the entry appears."

So basically, what we are trying to say is that we didn't turn any miners on without your consent.
Moreover, our system architecture is built in a way that these recalculations can go both ways, in the favour of the company as well as in the favour of users.
And we have never seen a customer complain that the recalculation was in their favour.

So in order to avoid any misunderstandings and long discussions if it is fair or not - we prefer to refund these satoshis (we are talking less than $0.01).

Another technological characteristic of our architecture is the impossibility to find all users affected by this recalculation without suspending the platform and running a script over the existing database which is VERY BIG.

And finally, all issues we encounter are documented in our backlog, however the priority of this issue is very low due to the fact that cloud mining is currently paused and the cumulative impact on all users totals to $2.00 per month max, and our developer team is working on more important features and fixes, which we will announce real soon.

We hope you understand the situation from our point of view
Thank you.
 

[flip21]

@Cex, Still no comment regarding the theft of bitcoin via maintenance fees i see...

@flip21
We agreed that it was our mistake.

According to our refund policy (https://cex.io/refund-policy)
Section 6 - PROCESSING TIMELINE

Refund/Return will be processed within twenty (20) Business Days from the date of notifying the User on the CEX.IO decision.

Since the request and final decision was sent on 17th of August - please give us time to process this request.

Thanks.

So does that mean you will refund everyone, regardless on whether they send a support ticket about it?

It is what you should do, be proactive rather than reactive.

EDIT: And also you should fix the "well known issue", regardless of whether you feel it is cheaper to refund the users own BTC. Bugs must be fixed as soon as they are noticed!

Currently it is hard to identify everyone who was effected by this.

If you want to get into details, here is a technical explanation of this error by our CTO:

"What you have experienced is a result of the system recalculating previous blocks. If there is a discrepancy found in maintenance or payout it is compensated. Even after you sell off your GHS the system performs those checks. These fees and payouts are technically for the older blocks that have already been paid out, but due to system limitation the number of currently mined block appears on the history at the moment the entry appears."

So basically, what we are trying to say is that we didn't turn any miners on without your consent.
Moreover, our system architecture is built in a way that these recalculations can go both ways, in the favour of the company as well as in the favour of users.
And we have never seen a customer complain that the recalculation was in their favour.

So in order to avoid any misunderstandings and long discussions if it is fair or not - we prefer to refund these satoshis (we are talking less than $0.01).

Another technological characteristic of our architecture is the impossibility to find all users affected by this recalculation without suspending the platform and running a script over the existing database which is VERY BIG.

And finally, all issues we encounter are documented in our backlog, however the priority of this issue is very low due to the fact that cloud mining is currently paused and the cumulative impact on all users totals to $2.00 per month max, and our developer team is working on more important features and fixes, which we will announce real soon.

We hope you understand the situation from our point of view
Thank you.
 

Sounds like some technical blabble, but I take it this is your final answer? So it isn't because Miners reboot like Thomas said, nor is it an unexpected glitch like Akhil said and your tech team aren't working on it. (3 lies right there)

I guess if you aren't going to fix existing issues that constantly happen (twice in 3 days!) I will continue to call this intentional theft/fraud, regardless of the amount, it is obtaining funds by false accounting.

How can you tell us its a maximum of $2.00 per month, you just admitted you have no way of telling how many users are affected?

I guess it is official, CEX has turned into a scam exchange. Maybe you should send a email to each of your users explaining this bug the fact it costs too much to fix so it won't be fixed.

Be transparent, Be honest. Be Proactive. Don't lose what little trust you have left because of bugs in your system and dishonesty.

[AxlRose]

@flip21  hahaha... its Friday and a joke from you to end the week. The guy who has a flip in his name makes an official statement for CEX...... Its a scam....

I am no where mining but it is really interesting for me to know whether CEX refunds this or not, I have invested in CEX and I don't want to be a victim...


@CEX  your reply is okay, I personally don't find it alarming but please do refund otherwise the business might be a threat...  Touchwood I have till now my funds unaffected.




@All and CEX : I want to know if CEX has only 3-4 users who are against you and writing always bad about even 1 word you utter from your mouth. Don't you think that these 3-4 people are working for your competitors??
                       Guys please give your brain a shot of Redbull and think may be these guys are looking for some money from you guys too??
                    
                     I am over a month with CEX but you guys are treating me fine and better then other 3 companies but am I the only one happy?? Please make this clear guys you need to find who is breaching in the company , may be                  someone of your known who is playing games with you.

   It clearly seems that these active cryptards are just working for some other trade company trying to show you down and you have to prove it for other trusted users..........
                      

[CEX]

So it isn't because Miners reboot like Thomas said, nor is it an unexpected glitch like Akhil said and your tech team aren't working on it. (3 lies right there)

Actually, the recalculation is triggered when some user turns his mining on and our hardware provider needs to turn on some equipment to cover his GHS.

@cex I suggest blocking flip21, who isn't smart enough to understand a genuine explanation about the service, harming your reputation, and maybe add something about this in the company's terms of service?   

Noted. We will see what we can do.

Thanks for your support.

[D4RK5T4R]

Imagine the uproar if a bank took a cent off every customer "accidentally", and then only refunded the ones that complained.
This will be cex.io if they continue down that path. Good luck, You will need it. Fraud is very real and can easily breakdown borders. Dont think you are safe just because there is never anyone in the UK office.

[flip21]

So it isn't because Miners reboot like Thomas said, nor is it an unexpected glitch like Akhil said and your tech team aren't working on it. (3 lies right there)

Actually, the recalculation is triggered when some user turns his mining on and our hardware provider needs to turn on some equipment to cover his GHS.

@cex I suggest blocking flip21, who isn't smart enough to understand a genuine explanation about the service, harming your reputation, and maybe add something about this in the company's terms of service?   

Noted. We will see what we can do.

Thanks for your support.

So you plan on blocking a fully verified user because you don't like what I say about your scam exchange? LOL, Dont worry I shall create my own topic regarding CEX.

This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.

[CEX]

Imagine the uproar if a bank took a cent off every customer "accidentally", and then only refunded the ones that complained.
This will be cex.io if they continue down that path. Good luck, You will need it. Fraud is very real and can easily breakdown borders. Dont think you are safe just because there is never anyone in the UK office.

Yes, we completely understand that this situation is unpleasant. But right now we are talking about $0.005, and not off every customer, and it will be refunded, and we explained why it is happening, and we told that it is in the roadmap of the company.
Please be reasonable.

[flip21]

Imagine the uproar if a bank took a cent off every customer "accidentally", and then only refunded the ones that complained.
This will be cex.io if they continue down that path. Good luck, You will need it. Fraud is very real and can easily breakdown borders. Dont think you are safe just because there is never anyone in the UK office.

Yes, we completely understand that this situation is unpleasant. But right now we are talking about $0.005, and not off every customer, and it will be refunded, and we explained why it is happening, and we told that it is in the roadmap of the company.
Please be reasonable.

If you find this error unacceptable - please notify the support team that you want your account closed, they will assist you in transferring all your remaining funds elsewhere.

The amount does not matter, it is still considered false accounting/fraud.

You said you can only refund it if they complain, please send a newsletter to ALL of your customers asking them to check their account and ask for a refund if there are discrepencies.

If i was to notify your support team that I want my account closed how can you guarantee that all my ID documents will be destroyed?

I don't have any funds at your scam exchange so that isn't an issue

[Zeta0S]

Imagine the uproar if a bank took a cent off every customer "accidentally", and then only refunded the ones that complained.
This will be cex.io if they continue down that path. Good luck, You will need it. Fraud is very real and can easily breakdown borders. Dont think you are safe just because there is never anyone in the UK office.

If you find this error unacceptable - please notify the support team that you want your account closed, they will assist you in transferring all your remaining funds elsewhere.

So if i am in a restaurant and i order i pasta bolognese,.. i get pasta cheese and i am complaining you say, if you don`t like it go eat somewhere else!
WTF CEX.IO

[CEX]

@cex
Can you please fix the withdrawal compensation error which is happening often, instead of wasting your time on arguing with these dumbasses?
The transactions are still going out, but the error is confusing.

Our developers are fixing this issue as we speak(type). It will be resolved with the next application release.

Sorry for the inconvenience

[CEX]

So if i am in a restaurant and i order i pasta bolognese,.. i get pasta cheese and i am complaining you say, if you don`t like it go eat somewhere else!
WTF CEX.IO

Well, actually we explained the nature of the error and the user will be refunded within the timeframe mentioned in our terms of service.

[djselery]

@Cex, Still no comment regarding the theft of bitcoin via maintenance fees i see...

@flip21
We agreed that it was our mistake.

According to our refund policy (https://cex.io/refund-policy)
Section 6 - PROCESSING TIMELINE

Refund/Return will be processed within twenty (20) Business Days from the date of notifying the User on the CEX.IO decision.

Since the request and final decision was sent on 17th of August - please give us time to process this request.

Thanks.

20 days!?? i was told 6... what the....

[Zeta0S]

So if i am in a restaurant and i order i pasta bolognese,.. i get pasta cheese and i am complaining you say, if you don`t like it go eat somewhere else!
WTF CEX.IO

Well, actually we explained the nature of the error and the user will be refunded within the timeframe mentioned in our terms of service.

Yes, that part of the message no problem whit that.  

But for the people that have problems whit it (and they are right to have) do not awnser whit "If you find this error unacceptable - please notify the support team that you want your account closed, they will assist you in transferring all your remaining funds elsewhere. "

Thats not the correct way, better remove it.  I will remove the quote`s than to.

[D4RK5T4R]

So if i am in a restaurant and i order i pasta bolognese,.. i get pasta cheese and i am complaining you say, if you don`t like it go eat somewhere else!
WTF CEX.IO

Well, actually we explained the nature of the error and the user will be refunded within the timeframe mentioned in our terms of service.

You also stated that you cannot identify all affected users, so many will not get refunds and you will profit.
$0.005 multiplied by half of your userbase, lets say 200000, will amount to $1000, a small but not an insignificant amount that would not be yours to keep legally.
You claim "due diligence", now prove it by doing what you should do, identify every single user. Otherwise you are acting like those car manufacturers that don't recall dangerous vehicles and would rather pay off a few people to keep it all quiet, because its cheaper.

[CEX]

@Cex, Still no comment regarding the theft of bitcoin via maintenance fees i see...

@flip21
We agreed that it was our mistake.

According to our refund policy (https://cex.io/refund-policy)
Section 6 - PROCESSING TIMELINE

Refund/Return will be processed within twenty (20) Business Days from the date of notifying the User on the CEX.IO decision.

Since the request and final decision was sent on 17th of August - please give us time to process this request.

Thanks.

20 days!?? i was told 6... what the....

Yes, please don't worry, we will make a refund in the shortest possible time, but according to our terms we have 20 days in case anything goes wrong.  

[D4RK5T4R]

@Cex, Still no comment regarding the theft of bitcoin via maintenance fees i see...

@flip21
We agreed that it was our mistake.

According to our refund policy (https://cex.io/refund-policy)
Section 6 - PROCESSING TIMELINE

Refund/Return will be processed within twenty (20) Business Days from the date of notifying the User on the CEX.IO decision.

Since the request and final decision was sent on 17th of August - please give us time to process this request.

Thanks.

20 days!?? i was told 6... what the....

Yes, please don't worry, we will make a refund in the shortest possible time, but according to our terms we have 20 days in case anything goes wrong.  

Then you need to train your staff to stop saying things like this:

[cryptodevil]

The amount does not matter, it is still considered false accounting/fraud.

You said you can only refund it if they complain, please send a newsletter to ALL of your customers asking them to check their account and ask for a refund if there are discrepencies.

+1

I don't have a dog in this fight, but it sure as hell stinks like scrypt.cc's 'autobuy' shenanigans recently and they are a proven and confirmed ponzi. For your firm to not immediately send out notices to customers advising them to check the status of their account due to this error is unprofessional, to say the least.

It would almost seem like you were counting on the fact that a whole bunch of customers wouldn't notice.

[CEX]

The amount does not matter, it is still considered false accounting/fraud.

You said you can only refund it if they complain, please send a newsletter to ALL of your customers asking them to check their account and ask for a refund if there are discrepencies.

No scam involved at all. I will try to make a several-page-long technical report short and explain what and why is happening right here:

1) Let's say 'username1' has been doing some cloud-mining on CEX for a while. He owned a certain amount of GHS and it was all fine, until the cloud mining was suspended.
2) His GHS produced a certain amount of shares all the time. Miners, however, accept those shares in batches. 64, 128, 256, 512, 1024, etc. depending on the size of the miner. Smaller miners accept smaller batches, of course.
3) When cloud mining was on - it was not an issue. Providers had all kinds of equipment of different sizes constantly on and all the shares got accounted for.
4) Now that cloud mining is off, this is not the situation. Only so many machines are on that are needed to support the users who have turned on their GHS. Mostly those are big machines, because they are more efficient. Those machines can accept, for example, batches of no less than 1024 shares.
5) 'username1' has submitted 756 shares before mining was switched off - technically he has still not paid for them and owes the mainenance to cex, but the miner has not accepted those shares because the amount is smaller than the minimum batch size.
6) 'username2' decides to turn on his cloud mining. He has a small amount of GHS, and it so happens that the equipment provider needs to turn on a small miner to cover for his GHS. This small miner accepts 128 shares as smallest batch. Recalculation happens at the moment the miner is turned on, and out of 756 shares that 'username1' owes CEX 128*5=640 shares are accepted. 756-640=116 shares remain unpaid for because this amount is smaller than 128 batch.
7) This situation can repeat over and over again, as smaller miners that accept 64 or fewer shares are connected and disconnected.
This works both ways - if CEX owes user rewards for unaccepted shares - those are paid out in the same way.
9) From user side this is viewed as a glitch - he has 0 GHS and/or his mining is off - he does not have to pay maintenance. From CEX side this is no glitch - this is math.
10) This situation is always unexpected, as miners turn on and off when users press the button - we do not control the process.

Taking into account all of the above - CEX.IO views this situation as such that does not require a refund to the users affected. However, as courtesy to our users and to avoid negative publicity and unsubstantiated accusations we take those expenses and refund the affected users on request.