closed

[gustav]

Have anyone's funds actually been frozen, i.e. become untradeable on Vircurex? The announcement says the freezing of funds is effective from the 24th which is tomorrow for me (I'm on GMT).

I am still able to trade but cannot withdraw BTC, LTC or FTC. Have not tired TRC.

Not sure about others, but I have a withdrawal from Wednesday which became stuck, and I've been trying to get them to unstick. As a result, I have 0.6BTC I'd have withdrawn days ago if I could have, but it doesn't even show on my account.

Hoping existing withdrawals may be actioned, but not expecting.

exactly. Withdrawing bitcoin was disabled to let more btc pile up before they put out the notice. It was very well planned and walked through.

[galbros]

I am stunned and saddened to see this well known exchange go down like this.  I understand wanting to take care of your biggest customers to enable them to trade, but maybe a 1/4 top, 1/4 bottom, and 1/2 proportional distribution system would at least give people in the middle some hope.

Right now it seems the price of alt coins that are not effected are inflated, as that seems to be a way out for people as I don't think any coins have been moved to a frozen status yet.

Good Luck Vircurex users!

[rnicoll]

exactly. Withdrawing bitcoin was disabled to let more btc pile up before they put out the notice. It was very well planned and walked through.

Which makes the repayment process even more fishy; they've basically captured deposits from anyone paying in since Friday, plus a few of us from before. They're now going to hold that money hostage (which is real, actual BTC sitting in their wallet) based on their future profits, and you can't even trade it (despite it being, y'know, my money). Meanwhile, they're not paying people back based on anything like equal distribution, but biggest and smallest first.

[gorgorom]

I'm sorry but it sounds like Vircurex owners are trying to solve their own promlems for our hard-earned money. I was wondering why some alts exchange rate went up recently (VTC for example). Now I see the reasons for this. If you are an exchange owner and you wanna an alt-coin exchange rate to go up to the sky, just stop withdrawing everything except for this alt-coin. Easy success formula.

Agreed. Vircurex just ruined themselves. Idiots.

[gorgorom]

We need Decentralized EXCHANGES!!!!!!!!!!!

[gustav]

We need Decentralized EXCHANGES!!!!!!!!!!!

+1
at least a crypto2crypto-thing shouldn't be that hard to do. Why is it not here?

all the people withdrawing should be careful with qrk. Qrk is not working - no txid

[K1773R]

I'm sorry but it sounds like Vircurex owners are trying to solve their own promlems for our hard-earned money. I was wondering why some alts exchange rate went up recently (VTC for example). Now I see the reasons for this. If you are an exchange owner and you wanna an alt-coin exchange rate to go up to the sky, just stop withdrawing everything except for this alt-coin. Easy success formula.

i agree, first the scam of the VCX stuff, now this. well done kumala, now your official a scammer... im really disappointed if you are still the same guy...

[Arbitrageur]

why didn't release the amount of missing coins?? they are letting people speculate on the numbers! the only reason is to generate commissions out of frenzy trading based on people being clueless about the real numbers

[Arbitrageur]

kumala if you are reading you should translate "with significant unrecoverable losses" into percentage:

what % of LTC is missing, what of BTC, FTC, TRC.

at least people can figure out what's the best strategy to adopt here. everybody going bonkers and printing crazy prices (or maybe not, it all depends on the %)

[K1773R]

So to recap:

Make Vircurex an asset on cryptostocks (same owner) named VCX.
Owner breaks the contract with his investors and shovels losses on ivenstors in form of no dividends.
Vircurex pays for having alot of btc/similiar on/in it.
Vircurex freezes those money because they have no more coins themself.

Yea, 3 times scammed. well done Kumala, you ruined once a great exchange!

[galbros]

kumala if you are reading you should translate "with significant unrecoverable losses" into percentage:

what % of LTC is missing, what of BTC, FTC, TRC.

at least people can figure out what's the best strategy to adopt here. everybody going bonkers and printing crazy prices (or maybe not, it all depends on the %)

This is a really good suggestion and would go a long way to salvaging some of the sites reputation.  It is especially important since you hope to repay the losses from future trade commissions, but I son't see why anyone would use Vircurex if they had no trust in it at all.

[LancienMaleAlpha]

The fact is no 1 will trust, so no volume so no fees, good luck to keep your money back, you better sell for doge at loss and do the withdraw.

[thph]

im so tired of this  - just left my trust rating.

[shmoula]

ok, so firstly I bought some VCX assets for 0.5BTC each (now it's for 0.049), then used VCX exchange itself and now I'm unable to withdraw my coins? thanks, kumala, I'm adding you to my favourite scammers list. I didnt believed that, but it really looks like all that was just a school project which is now slowly dying

PS at least provide us with some info - i think investors deserves to know that.
PS2 JFCH, there is no history longer than three last months?

[D05GTO]

funds are forzen 24th today is 23rd.
Those who can read have clear advantage
And it is very clear to me that this will be the new fashion. Every other exchange one by one will claim to have been 'hacked' and steal your money. We should not let that happen. Because if we do they will repeat after round 1. Right now i am withdrawing about all coins from all exchanges. I am sick of this scammers party.  If they can't handle security, they have to raise fees to cover losses, but can't just take the funds like that! It is very close to stealing. The logic behind this is "we have been robbed so we rob someone else so that we don't have to take the losses". Every exchange that gives losses to customers should give winnings also to customers in the future. Everything else is not honest. How many percent do they cover? 100% losses goes to customer? Why not 100% tradingfees also back to customer? If they can just pass losses to customers like that why should they ever care about security?

Atomic-Trade would never hold anyone's funds. It's the most secure, trust worthy exchange around.

[K1773R]

im so tired of this  - just left my trust rating.

same goes for me...

[fendlestick]

The fact is no 1 will trust, so no volume so no fees, good luck to keep your money back, you better sell for doge at loss and do the withdraw.

I agree with this, I have done this today. Will not return to Vircurex to have more funds "frozen" next time. They have lost all credibility, which is more important to me than fee's or anything else.

[Littleshop]

The proposed distribution scheme for left-over funds is stupid. With their approach, the very large accounts and the very small accounts will get full refunds, while everyone in between won't get anything. With confidence unlikely to be restored, it's not just a matter of waiting for those in the middle of the pack. Why on earth not go with the fairest and most obvious approach of distributing remaining funds proportionally?

Note: I have no funds on this website and my statement is that of an outside observer.

Yes, this approach is beyond unfair.  And I stand to benefit from it as I had a small balance.  It should be 100% proportional.  Doing anything highest down is nuts.  Even lowest first would be better. 

Allowing trading on frozen funds is also crazy and withdrawals on some currencies even crazier.  Now all of the coins have jilted values depending on if they can be withdrawn or not. 

[nfe02]

Got last 2,5 BTCs out and lost approximately 30%. Thank you Vircurex! At least the told us in advance... Will Cryptsy be next? Moved everything big to own wallets. At least this I learned the last weeks. Got 40 BTCs goxed so far. I personally think this all came out of well planned acts to undermine and destabilize the whole crypto currency world.

[mhps]

Got last 2,5 BTCs out and lost approximately 30%. Thank you Vircurex! At least the told us in advance... Will Cryptsy be next? Moved everything big to own wallets. At least this I learned the last weeks. Got 40 BTCs goxed so far. I personally think this all came out of well planned acts to undermine and destabilize the whole crypto currency world.

The whole crypto currency world, behind sleek web pages, is still a wild west.