closed

[sangaman]

Hm so I had standing PPC sell orders that got all taken up after this announcement and am now left with 10.99 frozen bitcoins on the site. I feel even more scammed given that people were able to trade frozen, unwithdrawable bitcoins for my apparently legitimate, withdrawable peercoins. Why allow trading of other currencies after the announcement but before the freeze?

I also agree that the distribution system makes no sense, 10.99 btc sounds like it could be a pretty middlish balance and I feel I could easily not see a even a percent of my balance at this rate.

I'll post if I get anything back, and I hope others do as well.

[1714895409]

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[rnicoll]

Hm so I had standing PPC sell orders that got all taken up after this announcement and am now left with 10.99 frozen bitcoins on the site. I feel even more scammed given that people were able to trade frozen, unwithdrawable bitcoins for my apparently legitimate, withdrawable peercoins. Why allow trading of other currencies after the announcement but before the freeze?

Similar; sent in Dogecoin on Wednesday to buy Bitcoin, realised there was a problem when I couldn't withdraw them, put an order to buy back into Dogecoin but kept trying to withdraw. When half my BTC left successfully, closed the buy order and withdrew the rest... except that second withdrawal got stuck. So Vircurex sold me BTC they didn't have, seized my funds on withdrawal, then ignored attempts to contact customer services. If they'd at least reverted the withdrawal I'd have been out on Sunday.

[Walter Rothbard]

I have my 0.00004944 BTC restored. Please share your status here.
1. Coin
2. Amount
3. Restored / Frozen

After yesterday, I have exactly one Satoshi.   Oh, and I also have 28 "USD-Satoshis" that have been in my account since time immemorial.  I used to get a lot of great deals buying BTC at Vircurex for USD back in the day, through VouchX, Dwolla, bitinstant, etc.  I wish I could say it made me rich.  Back when Vircurex actually took fiat, you could place a lowball order and it would usually get filled overnight during a fairly regular dip they experienced.

[mhps]

After yesterday, I have exactly one Satoshi.   Oh, and I also have 28 "USD-Satoshis" that have been in my account since time immemorial.  I used to get a lot of great deals buying BTC at Vircurex for USD back in the day, through VouchX, Dwolla, bitinstant, etc.  I wish I could say it made me rich.  Back when Vircurex actually took fiat, you could place a lowball order and it would usually get filled overnight during a fairly regular dip they experienced.

Even you can't transfer USD to vircurex USD is still useful. One hour before the deadline I traded all my BTC to USD and dodged freezing. Now since BTC is on a down trend I will either buy back some BTC to trade (and take some losses because BTC/USD has jumped up) or wait until BTC/USD is low enough to make a profit.

I am sorry for those whose fund is frozen.

[Arbitrageur]

so it looks like there was not even a litecoin left in that scummy exchange. unbelievable.
why this motherfucker kept on going on fractional reserve instead of raising funds after the last heist?
he lost everything last may, shareholders wiped out, best thing to do was to raise fresh money and start from a sound financial position or close down with minimal damage.
he kept on screwing customers and depositors. crazy fuck

[Littleshop]

I had only a small amount there.  Before the freeze I had 71 FTC.  After it was all available, I withdrew it directly. 

[FrictionlessCoin]

so it looks like there was not even a litecoin left in that scummy exchange. unbelievable.
why this motherfucker kept on going on fractional reserve instead of raising funds after the last heist?
he lost everything last may, shareholders wiped out, best thing to do was to raise fresh money and start from a sound financial position or close down with minimal damage.
he kept on screwing customers and depositors. crazy fuck

I agree.  If lost everything last May, then he should have taken the deduction last May.

To entice new deposits and confiscate it like this is IMHO a criminal activity.

[rnicoll]

Encouraged to hear reports of BTC being returned for values bigger than I'm waiting on, but more than a little alarmed that my BTC are still neither in the account, nor in the address I requested to have them withdrawn to, on Wednesday.

Has anyone with stuck withdrawals heard anything from Vircurex?

[Arbitrageur]

I've just found this:

https://vircurex.com/Reports/2013-11.pdf

how the fuck did they manage to go from -112 btc end of june to over -1000 at end of july??
this was public, never read it... fuck... with this numbers keeping just 1 litecoin on that exchange was fucking insane

fuck me for not reading that,
unbelievable. fuck

[TookDk]

I've just found this:

https://vircurex.com/Reports/2013-11.pdf

how the fuck did they manage to go from -112 btc end of june to over -1000 at end of july??
this was public, never read it... fuck... with this numbers keeping just 1 litecoin on that exchange was fucking insane

fuck me for not reading that,
unbelievable. fuck

There where does who where lucky to get their funds out... I am sincerely happy for them...  and then there is the rest of us.
Not much hope - I honestly think that we will never see those coins again.

[K1773R]

so it looks like there was not even a litecoin left in that scummy exchange. unbelievable.
why this motherfucker kept on going on fractional reserve instead of raising funds after the last heist?
he lost everything last may, shareholders wiped out, best thing to do was to raise fresh money and start from a sound financial position or close down with minimal damage.
he kept on screwing customers and depositors. crazy fuck

*signed*

[Arbitrageur]

also why didn't these fuckers cover some ltc last november at record lows?? they wrote in the november report

The decline in NAV is due to the price increase of the coins that we have an underrecovery in, primarily LTC


you idiot, buying some ltc back there at 0.008?

also they lost massively with the Aurumxchange’s Default as reported in the august report

https://vircurex.com/Reports/2013-08.pdf

and a theft of FTC too

SO TOTAL negative -1000BTC since long

how the fuck can a company run with negative NAV?
they should have raised more capital or shut down business, in order to limit any losses on depositors.

what happened is totally criminal, and everybody should have been alerted of this, instead, even if I spend hours in here, this never came to my attention. I didn't know FUCK!

I mean vircurex is one of the oldest exchange, when I started there was vircurex and btc-e pretty much nothing else.

unfuckingbelievable... WHY THIS SITUATION WASN'T MADE PUBLIC everywhere??

should have been the first thread on many boards:

VIRCUREX IS RUNNING WITH NEGATIVE NAV: BEWARE EVERYBODY

[Arbitrageur]

I opened a new thread summing up the situation. shame this happened
this shouldn' 'have happened.. this is fucking worse than GOX!!

https://bitcointalk.org/index.php?topic=530306.msg5896911#msg5896911

[K1773R]

also why didn't these fuckers cover some ltc last november at record lows?? they wrote in the november report

The decline in NAV is due to the price increase of the coins that we have an underrecovery in, primarily LTC


you idiot, buying some ltc back there at 0.008?

also they lost massively with the Aurumxchange’s Default as reported in the august report

https://vircurex.com/Reports/2013-08.pdf

and a theft of FTC too

SO TOTAL negative -1000BTC since long

how the fuck can a company run with negative NAV?
they should have raised more capital or shut down business, in order to limit any losses on depositors.

what happened is totally criminal, and everybody should have been alerted of this, instead, even if I spend hours in here, this never came to my attention. I didn't know FUCK!

I mean vircurex is one of the oldest exchange, when I started there was vircurex and btc-e pretty much nothing else.

unfuckingbelievable... WHY THIS SITUATION WASN'T MADE PUBLIC everywhere??

should have been the first thread on many boards:

VIRCUREX IS RUNNING WITH NEGATIVE NAV: BEWARE EVERYBODY

i have pointed out the VCX stock scam alot of pages back.

[shmoula]

i have pointed out the VCX stock scam alot of pages back.

vircurex, cryptostocks... just the same scam

[rnicoll]

what happened is totally criminal, and everybody should have been alerted of this, instead, even if I spend hours in here, this never came to my attention. I didn't know FUCK!

I mean vircurex is one of the oldest exchange, when I started there was vircurex and btc-e pretty much nothing else.

unfuckingbelievable... WHY THIS SITUATION WASN'T MADE PUBLIC everywhere??

should have been the first thread on many boards:

VIRCUREX IS RUNNING WITH NEGATIVE NAV: BEWARE EVERYBODY

Agreed; I know some tried to warn people (thanks guys, unfortunately I never saw ), but am deeply disappointed in how little of the things coming out now, are hard to find. Why on earth do sites listing exchanges not have clear "This exchange is running as a fractional reserve" sign!?

[Arbitrageur]

Agreed; I know some tried to warn people (thanks guys, unfortunately I never saw ), but am deeply disappointed in how little of the things coming out now, are hard to find. Why on earth do sites listing exchanges not have clear "This exchange is running as a fractional reserve" sign!?

because with that sign they would go out of business. so they have to keep it down, but that's what this community should stand for: expose these scammers!
as I said there should have been a PINNED topic everywhere talking about vircurex situation. unfortunately only a few knew.

earlier I read a thread where someone was complaining at the beginning of march about the missing quarterly report, that should have raised questions, many questions. and that's probably why the situation collapsed. someone started the bank run.. and left other who didn't know as bagholders. we are screwed we won't ever see one ltc back from these thieves, unless they raise fresh new money to inject in the company.

[lishbtc]

Just thought I'd post to say that I actually got my 5 BTC back (deposited just after the announcement).  I was surprised, but I'm satisfied - sorry to everyone else having trouble but since I called them dirty scumbag thieves in my last post, since they gave me my money back only fair to post a retraction.

Best of luck to the rest of you.

[smoothie]

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!

The fact that Kumala hasn't posted here in weeks should be alarming.

No communication reminds me of Mark K.

Same scammer BS.

[smoothie]

They go public in Feb 2013 for 0.25 BTC a share (lol).

Then get hacked in May 2013.

Now they need to freeze withdrawals in March 2014.

https://bitcointalk.org/index.php?topic=140826.0

Their mickey mouse site design was a big enough clue to me that they were incompetent from the get-go. Good riddance.