[ANN] Crypto Rush - Crypto to Crypto exchange

[X3n0X]

Does anyone else see how obviously laughable/unrealistic/stupid these wave of 'insolvency' scams put on by these exchange sites?

This isn't a national bank, where you guys are FDIC insured and can immediately reimburse your customers from your first scam.

Firstly, even in the MOST optimistic scenario, you would only begin to break even as far as paying back owed fees to your customers in half a decade, if not more. THAT'S JUST BREAKING EVEN.   So essentially, you're saying this is a feasible and reasonable scenario. LAWL.  And I'm sure your company would be more than pleased running for 5 years with absolutely zero net profit for yourselves and just being barely able to cover operational costs.  Right.  Because you guys are such moralfag saints that want to to feed the world, and make it a better place.

What a complete joke.


Here's the biggest lulz though.  You're expecting NEW customers to come and deposit even MORE new coins/money into your system, when you're already insolvent and in way over your heads in the red.  So what happens when the new customers want to withdraw on their coins/profit?  Do they have to wait the 5 years until you break even to get their coins?  

How do you determine who starts getting coins back and in what order?  This is such a crock of shit.

I already know I'll never see the ~1.8btc worth of coins still left in your system.

This is coinex.pw all over again, and I wish to God I could find you scamming pieces of shit in person and deal with this mano y mano instead of you guys hiding behind a proxy who.is profile and anonymous forum screennames.


Go ahead and inject more money into this fraud system if you want guys, and lose it all in the end.  Don't tell you I didn't warn you...all customer support and withdrawl inquiries will cease once they open up the 'new' website to the public, as people continue to deposit new coins and the owners run away while the site rots.


COINEX.PW 2.0.

Hey Flipstyle,

Let me start with the fact that I'm having mixed feelings regarding your post. I see some anger and frustration and some disbelief that it is impossible. It does seem impossible what we're trying to do sometimes from our perspective as well.

However, so far that hasn't put us down or in any way pushed us to throw the towel in and call it quits. That being said you do have the balls to express your opinions / emotions and I think that's something most people don't do these days. Since you have a, what's the right word, cynical maybe, view on this I'd say your view or feedback could actually make the difference of us, as a community, pulling this off.

Would you be open for a dialogue / discussion to see if we could 1) work things out regarding the frustration and anger and 2) if there is a possibility to work together instead of 'bitching' each other out on forums.

Looking forward to your reply,

X3n0X

[X3n0X]

Does anyone else see how obviously laughable/unrealistic/stupid these wave of 'insolvency' scams put on by these exchange sites?

This isn't a national bank, where you guys are FDIC insured and can immediately reimburse your customers from your first scam.

Firstly, even in the MOST optimistic scenario, you would only begin to break even as far as paying back owed fees to your customers in half a decade, if not more. THAT'S JUST BREAKING EVEN.   So essentially, you're saying this is a feasible and reasonable scenario. LAWL.  And I'm sure your company would be more than pleased running for 5 years with absolutely zero net profit for yourselves and just being barely able to cover operational costs.  Right.  Because you guys are such moralfag saints that want to to feed the world, and make it a better place.

What a complete joke.


Here's the biggest lulz though.  You're expecting NEW customers to come and deposit even MORE new coins/money into your system, when you're already insolvent and in way over your heads in the red.  So what happens when the new customers want to withdraw on their coins/profit?  Do they have to wait the 5 years until you break even to get their coins?  

How do you determine who starts getting coins back and in what order?  This is such a crock of shit.

I already know I'll never see the ~1.8btc worth of coins still left in your system.

This is coinex.pw all over again, and I wish to God I could find you scamming pieces of shit in person and deal with this mano y mano instead of you guys hiding behind a proxy who.is profile and anonymous forum screennames.


Go ahead and inject more money into this fraud system if you want guys, and lose it all in the end.  Don't tell you I didn't warn you...all customer support and withdrawl inquiries will cease once they open up the 'new' website to the public, as people continue to deposit new coins and the owners run away while the site rots.


COINEX.PW 2.0.

I am so glad to see people like you are donating their balances so people like me will be repaid faster. We need more generous people like you in this world! 

Humor, I love it, watch out though that you don't throw more oil on a burning ember turning it into a raging fire

[King Dragon]

Holy smokes I've finally been convinced to come up from rebuilding CryptoRush to drop a line here.

1) Yes, I am the new owner of CR
2) Yes, X3n0X is a part of CR and his word is good
3) Yes, I too lost lots of BTC and believe everyone deserves to be repaid
4) Yes, it hurt all of us
5) Yes, everyone from the old CR is gone and those of us helping to fix things are all from the community

I'm not going to give up and I ask you to judge me by my actions.  So far I've done everything I said I would since I took over in May 2014.

I have personally re-coded every line of the trade engine from scratch and we are literally back up and trading.


Wishing you all the very best,
King Dragon

[X3n0X]

Holy smokes I've finally been convinced to come up from rebuilding CryptoRush to drop a line here.

1) Yes, I am the new owner of CR
2) Yes, X3n0X is a part of CR and his word is good
3) Yes, I too lost lots of BTC and believe everyone deserves to be repaid
4) Yes, it hurt all of us
5) Yes, everyone from the old CR is gone and those of us helping to fix things are all from the community

I'm not going to give up and I ask you to judge me by my actions.  So far I've done everything I said I would since I took over in May 2014.

I have personally re-coded every line of the trade engine from scratch and we are literally back up and trading.


Wishing you all the very best,
King Dragon

Would like to add:

6) We will try to check regularly on new posts on the forum, however if you got important matters, problems, questions or whatever else that you think needs our attention immediately / asap, please send in a ticket via support@cryptorush.in - at the moment we just cannot support multiple forums, facebook, twitter, instagram (lol?) and what have you as a support medium.

X3n0X

[waqas]

I am very old here on this thread and I lost too much on this site CR just want to say now who is going to deposit coins on this site which already hacked 3 time and many members lost too much money

[King Dragon]

I am very old here on this thread and I lost too much on this site CR just want to say now who is going to deposit coins on this site which already hacked 3 time and many members lost too much money

Considering your alternative of either no money or the chance of repayment, I'm surprised you'd choose to embrace the former.

Also, as I realize many people don't keep up on the many different methods information is dispersed out I'll be giving a talk about everything that's gone down:

https://twitter.com/The1KingDragon/status/502841402620149760

http://grrcon.com/presentations/ (bottom)

[X3n0X]

I am very old here on this thread and I lost too much on this site CR just want to say now who is going to deposit coins on this site which already hacked 3 time and many members lost too much money

Considering your alternative of either no money or the chance of repayment, I'm surprised you'd choose to embrace the former.

Also, as I realize many people don't keep up on the many different methods information is dispersed out I'll be giving a talk about everything that's gone down:

https://twitter.com/The1KingDragon/status/502841402620149760

http://grrcon.com/presentations/ (bottom)

Looking forward to it KD, hope you are able to record it so I can view it as well, since I'm just not able to attend it in person.

[X3n0X]

Did you coino... (know - coino, get it? :x)

Like free stuff?

Yeah, we do too. - Thanks to the boys over at Coin(O) we're going to give some mining equipment to one lucky cryptowarrior.
...how?

 Every trade you make gets you an additional ticket to win!! (More details soon!)

[flipstyle]

No thanks.  I don't need any 'live dialogue' or more runaround.  I've been scammed enough to know when I've been had.  Common sense is common sense, no matter how many others lack it or fall for the same thing repeatedly.



Simple answer:  how are you going to determine who gets their btc back first, and when are the refunds going to start to be processed?

Also, for these new customers you're encouraging to 'trust,' when will they (if ever) be able to withdraw their balances, since you're already insolvent way beyond comprehension.  Or are you just expecting them to deposit their coins and keep them in there forever and trade and never withdraw?  You do realize the crypto world moves at 200mph, and the vast majority of alts lose all their value after an initial rise, which is the reason why people want to cash out their profits, right? 



It's not difficult to answer.  But my money is on you beating around the bush, because anyone with half a brain knows this is a pipe dream and nothing more than used car salesman talk.  This thread is an exact copy pasta of the coinex.pw thread.  Til the owners got even more money on the 're-opening' scam and the replies and shill accounts vanished.  This will be no different.

[King Dragon]

Simple answer:  how are you going to determine who gets their btc back first, and when are the refunds going to start to be processed?

Also, for these new customers you're encouraging to 'trust,' when will they (if ever) be able to withdraw their balances, since you're already insolvent way beyond comprehension.  Or are you just expecting them to deposit their coins and keep them in there forever and trade and never withdraw?  You do realize the crypto world moves at 200mph, and the vast majority of alts lose all their value after an initial rise, which is the reason why people want to cash out their profits, right? 



It's not difficult to answer.  But my money is on you beating around the bush, because anyone with half a brain knows this is a pipe dream and nothing more than used car salesman talk.  This thread is an exact copy pasta of the coinex.pw thread.  Til the owners got even more money on the 're-opening' scam and the replies and shill accounts vanished.  This will be no different.

Good questions.  Thanks for taking the time to reply.

So, to answer your questions.

1) "How will repayment be determined?"  I wish I had a simple and straight answer for you on this one that made everyone happy.  Since the total amount of loss is known the easiest answer would be to divide money made between everyone equal to the percentage of their loss.  This way everyone gets paid back equally, even if it's painfully slow.  I can't say this is the best solution, I know I'd like to see a better method as someone who lost double-digit BTC.

2) "When?"  ASAP.  We kinda need things in place in order to start paying back BTC.  Other coins will be much sooner.  Btw, if you weren't aware, there has been a timeline of events and what to expect next that has been up on the main sites home page for the past few months; which gets updated frequently.

3) Regarding "when can people withdraw?" Well, right now.  I specifically segmented CR1.0 and CR2.0 balances so that there wouldn't be more chaos.  CR1.0 accounts are held in a database statically so we know who exactly is owed what.  When CR2.0 launched everyone started with a "zero balance", which allows people to instantly withdraw as they so desire after making deposits or purchasing.  So how do we integrate the two?  We'll have to manually go through all 180 coins and either refund every user the coins that weren't stolen or give them a BTC credit.  This credit then gets reduced by the income the exchange makes and people will be able to track this over time.  As someone who lost funds I'm sure you can appreciate how important it is to make sure this is done right and carefully executed.


I'll take your wager about beating around the bush on this, how much are we betting?  ... You are right.  It is really sad how hard it is to trust people in this world.  I'm not going to try and convince every person on the forum with just words, like I said, judge me by my actions.  Join the party or get left behind, I wouldn't have gotten myself involved in this whole mess four months ago if I didn't believe all of us could get repaid.

[tekke]

I Know this question has been made a gazillion times but I have read around and haven't found a clear answer.

What happened with the coins that weren't robbed I.E KARM, AUR, QUARK , etc. Will those coins be restored to their owners once the site is fully functional?

Thanks for your answer

[X3n0X]

I Know this question has been made a gazillion times but I have read around and haven't found a clear answer.

What happened with the coins that weren't robbed I.E KARM, AUR, QUARK , etc. Will those coins be restored to their owners once the site is fully functional?

Thanks for your answer

Point number 3 from KD's previous post answers this pretty much;
"3) Regarding "when can people withdraw?" Well, right now.  I specifically segmented CR1.0 and CR2.0 balances so that there wouldn't be more chaos.  CR1.0 accounts are held in a database statically so we know who exactly is owed what.  When CR2.0 launched everyone started with a "zero balance", which allows people to instantly withdraw as they so desire after making deposits or purchasing.  So how do we integrate the two?  We'll have to manually go through all 180 coins and either refund every user the coins that weren't stolen or give them a BTC credit.  This credit then gets reduced by the income the exchange makes and people will be able to track this over time.  As someone who lost funds I'm sure you can appreciate how important it is to make sure this is done right and carefully executed."

Particularly "We'll have to manually go through all 180 coins and either refund every user the coins that weren't stolen or give them a BTC credit."

Once we get through pushing out all the UI features / systems the first order of business is bringing back the coins that are solvent and restoring every users balance so that they can either be traded with or withdrawn.

I'm afraid I cant give any exact dates or time lines or answer 'which coin goes first' at this time.

Hope that answers your question, keep following this thread or check in with us on IRC to stay updated!

X3n0X

[CSL]

Regarding "when can people withdraw?" Well, right now.

Please explain exactly how people can withdraw "right now".

CR1.0 accounts are held in a database statically so we know who exactly is owed what.

Great.  The unaffected coins can be returned to their OWNERS then.  An option which should have been available to your customers the instant you decided to close down.

We'll have to manually go through all 180 coins and either refund every user the coins that weren't stolen

Or you could make use of the database you claim lets you know exactly who is owed what.

Quit stalling.  Either release the unaffected coins or state that you have no intention of doing so.

[suchmoon]

Quit stalling.  Either release the unaffected coins or state that you have no intention of doing so.

Or you could just chill noob.

I'm no fan of CR and its fairly evident in what I've posted in this thread and elsewhere.

But KD and his gang are the best chance you got to get your shitcoins back and they sound coherent, which is a huge improvement over the previous actors in this drama. They are also the ones actually DOING something, albeit slowly. If I had any coins in CR I'd be quietly praying that they hold it together long enough for me to get coins out, not attacking them with childish entitlement fits.

In other words, if you were dumb enough to trust the original CR with your coins despite the huge red flags waving in your face, you won't make it any worse by trusting KD's CR. It's a whole different issue of trust for NEW CR customers, but for the OLD ones it's a no-brainer.

[X3n0X]

Regarding "when can people withdraw?" Well, right now.

Please explain exactly how people can withdraw "right now".

CR1.0 accounts are held in a database statically so we know who exactly is owed what.

Great.  The unaffected coins can be returned to their OWNERS then.  An option which should have been available to your customers the instant you decided to close down.

We'll have to manually go through all 180 coins and either refund every user the coins that weren't stolen

Or you could make use of the database you claim lets you know exactly who is owed what.

Quit stalling.  Either release the unaffected coins or state that you have no intention of doing so.

Withdrawing right now applies to the current market pairings that are on the current public beta. KD specifically outlined this in his previous post. Withdrawals can be initiated via the 'My Portfolio' page (upper right corner, click your username, choose my portfolio). Afterwards click on the "+" sign in front of the coin you'd like to withdraw. Rest should speak for itself.

It is our intention to refund or return all coins to each customer, this was not possible when we closed down due to the fact that the previous system was vulnerable to attack, hence the mess that followed. That being said at that time we just stepped up/in and didn't had a complete in-depth view or knowledge of the previous system. Closing down was, in our opinion, the only sensible thing to do.

We will make use of the database that we claim to have, how are we gonna refund / return the coins if we don't even know who should get what? If we didn't had it we wouldn't make the claim to refund or return coins, would we?

We are not stalling, we are prioritizing the efforts to get you your coins back. We could go through every user account or return request by hand, but that would mean that there isn't time in the day left to code and make sure there is an exchange to generate revenue to reimburse the users...

[mistercoin]

Soo sad that such potential was destroyed because of either A. poor security and poor steps taken to ensure safety, or B. An inside job. Absolutely horrid.

[tekke]

...
X3n0X

Thanks for your answer and wishing for the best.

[X3n0X]

...
X3n0X

Thanks for your answer and wishing for the best.

You're welcome and thanks for the wishes!

[CSL]

So to summarise what X3n0X said, there is a database showing exactly who owns each of the unaffected coins, but those coins can't possibly be made available for withdrawal.  The database cannot be used as-is, so making those coins available for withdrawal would involve a huge manual operation where someone has to go through each of the coins by hand to work out what each balance should be.  The only way to currently withdraw is to throw good coins after bad and transfer yet more funds into the exchange, trusting that those coins (and only those coins) will be made available for withdrawal.  Presumably the new database keeps better track of who owns what, avoiding the need for a huge manual operation that halts development of the exchange every time someone goes to withdraw.  Correct me if I got any of that wrong.

Then we have suchmoon who seems to think that people shouldn't feel entitled to their coins anyway.  He readily admits that he had no coins on the exchange, and is probably just trolling here for lulz.  Also he thinks that anyone who sends coins to an exchange must be new to crypto if they think they will ever see them again.

Ok, so the coins that were lost due to your poor security are gone.  That's unfortunate, but it has to be accepted.  Maybe in 20 years people might see a fraction of them back.  Maybe not.  For the coin types that were not raided at all, there is no excuse not to hand them over right away.  Some people might even use the coins to test your new exchange.

Because of all the stalling, some/most of the alts will be worthless by now of course.  Irritating as it is, that's not the point.  There's a principle here;  You are holding funds that don't belong to you, and are refusing to return them.  Your priorities are all wrong.  Your first responsibility should be to the owners of the coins entrusted to you.  Coding up a new exchange should be secondary to that.  If the new management is going to establish a "when we get around to it" policy for coin withdrawals then I don't expect too many people will be willing to transfer coins into the new exchange.

You are no doubt worried that if you allow coins to be withdrawn then the exchange will be cleaned out within minutes.  This will happen whether you do it now or do it later.  The only difference is that if you do it now then some people may trust you later, whereas if you stall any further then nobody will.  Without that trust, there's no point coding up the rest of the exchange.

I suggest that you move the balances for the "solvent" coins to your new database and allow them to be traded or withdrawn.  I suggest you do that right now.  Like today.  You don't need to port all of the transaction history - just the current balance for each coin type held by each of your members.  As far as the new exchange is concerned, they are fresh coins, transferred in with no trading history behind them and no active orders in place.

I'm hoping that you do it, but I know that you won't.

[X3n0X]

So to summarise what X3n0X said, there is a database showing exactly who owns each of the unaffected coins, but those coins can't possibly be made available for withdrawal.  The database cannot be used as-is, so making those coins available for withdrawal would involve a huge manual operation where someone has to go through each of the coins by hand to work out what each balance should be.  The only way to currently withdraw is to throw good coins after bad and transfer yet more funds into the exchange, trusting that those coins (and only those coins) will be made available for withdrawal.  Presumably the new database keeps better track of who owns what, avoiding the need for a huge manual operation that halts development of the exchange every time someone goes to withdraw.  Correct me if I got any of that wrong.

Then we have suchmoon who seems to think that people shouldn't feel entitled to their coins anyway.  He readily admits that he had no coins on the exchange, and is probably just trolling here for lulz.  Also he thinks that anyone who sends coins to an exchange must be new to crypto if they think they will ever see them again.

Ok, so the coins that were lost due to your poor security are gone.  That's unfortunate, but it has to be accepted.  Maybe in 20 years people might see a fraction of them back.  Maybe not.  For the coin types that were not raided at all, there is no excuse not to hand them over right away.  Some people might even use the coins to test your new exchange.

Because of all the stalling, some/most of the alts will be worthless by now of course.  Irritating as it is, that's not the point.  There's a principle here;  You are holding funds that don't belong to you, and are refusing to return them.  Your priorities are all wrong.  Your first responsibility should be to the owners of the coins entrusted to you.  Coding up a new exchange should be secondary to that.  If the new management is going to establish a "when we get around to it" policy for coin withdrawals then I don't expect too many people will be willing to transfer coins into the new exchange.

You are no doubt worried that if you allow coins to be withdrawn then the exchange will be cleaned out within minutes.  This will happen whether you do it now or do it later.  The only difference is that if you do it now then some people may trust you later, whereas if you stall any further then nobody will.  Without that trust, there's no point coding up the rest of the exchange.

I suggest that you move the balances for the "solvent" coins to your new database and allow them to be traded or withdrawn.  I suggest you do that right now.  Like today.  You don't need to port all of the transaction history - just the current balance for each coin type held by each of your members.  As far as the new exchange is concerned, they are fresh coins, transferred in with no trading history behind them and no active orders in place.

I'm hoping that you do it, but I know that you won't.

I'm hoping with you that we can make a start with that today to be honest, I've been pushing to get going on at least one coin to show the good intentions in an act instead of just words. We're getting closer to making that happen but each time it looks like we got a time window to look at it a bug arises. Time wise I agree with you that it's a fine line regarding trust, and no doubt that there will be allot of people that just want their coins out, and that's their own right to do so when they can, that's not a reason why we aren't releasing coins.

Last thing I heard from our coding team is that they are now working on linking the old database with the new database, once that's done I see no problems in updating and starting the daemons from coins that are solvent. I'm hoping that we will be able to do so somewhere this week, but I cannot give hard timeframes / deadlines at the moment.

I'll muster the troops together and see if we can get a actual date / time and a coin to be released so that you guys can anticipate on that. Bear with us just a little bit longer and i'll keep you updated!