closed

[Arbitrageur]

I withdrew about 1/10th of a btc and went through smoothly! utterly weird. they paid up nmc to 0.01! 3x its price!

[Hippie Tech]

I'm now seeing a +06:00 differential with the timestamps ! wtf !

Make note of the times before and after you log in.

[MaddestScientist]

The volume jumped to over 100 BTC today.

Someone bought DOGE, NMC, DVC, PPC and LTC at as high as 2 times the market price on Vircurex.

I bet something interesting is coming ...

[Arbitrageur]

ok, since withdrawals have been working smoothly and it wasn't a run away from new stuck btc, here are the cases to explain yesterday weird volumes and price action:

1) someone with lots of money wanted to diversify 250 btc into alts and chose (oddly enough) vircurex to do the trades. he paid up 2-3x (even 10x, there were 7 ltc traded at 0.2) the price of other exchanges. it might be just an ignorant person who doesn't understand markets, or price action, or arbitrage.

2) this makes way more sense if this person is an hacker who stole many btc, not very expert of exchanges and markets, willing to lose trace of the stolen btc: buying alts through an exchange is the best way to achieve this goal.

3) Kumala itself tried to stir up things on his dying exchange to revive attention and interest. well, if this were the case he would have done a better and more honest job in giving back the money to the frozen accounts. at the end of the day, I doubt this strategy will work and if the crazy buys stops here, volume will return to 1-2 btc per day as it was until 2 days ago.

I'd go for number 2.

[weisoq]

It might be a variation on 1) due to uncertainty about the btc auction. Diversifying until any dust has settled and using vircurex just because the volume was there?

[Arbitrageur]

It might be a variation on 1) due to uncertainty about the btc auction. Diversifying until any dust has settled and using vircurex just because the volume was there?

nope, no volume on vircurex, you could have paid market price on btc-e cryptsy or bter without moving the price as much (except devcoin).

[sangaman]

I guess this is the best place to post this.

I had BTC frozen on Vircurex, I've posted the details behind this on bitcointalk before in my recent posts if anyone is interested.

I had just over 10 BTC frozen and had very low hopes of seeing any of it.

I hadn't checked my account for several weeks. Today I logged on and saw I had just under 1 BTC unfrozen. I withdrew this and the transaction appeared on the blockchain instantly.

Reading their updates, they've made three relatively small but non-trivial payouts to frozen accounts, one each of the last three months. There's also an announcement that they've capped the returned amount to 1 BTC per user so that more people are able to receive funds. This is a good idea I think although it's not clear if this cap is per payout or cumulative, preferably the former. I'll try to contact support to find out.

This is good to see and I'm wondering if any other users have received payouts on their frozen balances in the last couple of months. Thanks.

[Pimpmycoin]

i'm happy for you

but...


only a moron like Kumala may have thought to refund in this fucking way:

"Distribution logic
50% of the amount will be distributed top down and the other 50% will be distributed bottom up.
Top down means: credit the amount from the largest account balance down to the smaller accounts Bottom up: credit the amount from the smallest account balance to the larger accounts."

[Arbitrageur]

nothing unfrozen for me. original amount still fully locked both for BTC and LTC

[almightyruler]

nothing unfrozen for me. original amount still fully locked both for BTC and LTC

Same. Only a small amount, but still, not a single satoshi returned yet.

[sangaman]

Interesting, would those who still haven't seen anything care to disclose how many bitcoins you have frozen? I'm interested to know if I was getting paid from the bottom up or the top down, 11 bitcoins seems like a fairly middling amount and I wasn't expecting to see any unfrozen bitcoins soon (if ever).

I did recall seeing a few posts of people with around 1 btc or less getting made whole almost right away at the beginning of all this, could it be that everyone with single digits has been paid back (at least 1 bitcoin I guess based on that recent announcement) and now they're unfreezing parts of the balances for people with 10+ btc? Just trying to get a better idea of where we stand with this.

I agree that the repayment method was/is nonsense (tho improved with a 1 bitcoin cap per payment if that's in fact the new policy), but if that's what we're stuck with I'd at least like to know what's going on.

[almightyruler]

My frozen balance is 2.31317819 LTC. I guess that value must fall somewhere in the middle since I haven't received any of it yet.

[sangaman]

My frozen balance is 2.31317819 LTC. I guess that value must fall somewhere in the middle since I haven't received any of it yet.

It could be that the LTC situation is more dire than BTC. I only had BTC frozen on there so I can't speak for any of the other currencies.

[sangaman]

Another update today from the website:

Update 20th August 2014
Payout to frozen accounts this month:
10.515 BTC
15.24 LTC
29.44 FTC
9.61 TRC

Total balances after the amounts have been distributed
BTC: 329 accounts with frozen amounts, total 1,671 BTC
FTC: 42 accounts with frozen amounts, total 151,953 FTC
LTC: 2299 accounts with frozen amounts, total 124,864 LTC
TRC: 77 accounts with frozen amounts, total 127,719 TRC

I have not gotten any new bitcoins unfrozen since my last post, at least nothing significant. It says I have an available balance of 0.00044664 bitcoins but I'm not sure where that came from.

[almightyruler]

Still the exact same frozen balance of 2.31317819 LTC here. Hasn't changed since it was frozen 4 months ago.

[cryptodevil]

Yup, still unable to access my LTC they stole.

[Mobius7]

Another update today from the website:

Update 20th August 2014
Payout to frozen accounts this month:
10.515 BTC
15.24 LTC
29.44 FTC
9.61 TRC

Total balances after the amounts have been distributed
BTC: 329 accounts with frozen amounts, total 1,671 BTC
FTC: 42 accounts with frozen amounts, total 151,953 FTC
LTC: 2299 accounts with frozen amounts, total 124,864 LTC
TRC: 77 accounts with frozen amounts, total 127,719 TRC

With the current unfreezing rate, it will take 159 months, 9971 months, 4242 months and 13291 months respectively  to finish the whole process...

[ruletheworld]

Another update today from the website:

Update 20th August 2014
Payout to frozen accounts this month:
10.515 BTC
15.24 LTC
29.44 FTC
9.61 TRC

Total balances after the amounts have been distributed
BTC: 329 accounts with frozen amounts, total 1,671 BTC
FTC: 42 accounts with frozen amounts, total 151,953 FTC
LTC: 2299 accounts with frozen amounts, total 124,864 LTC
TRC: 77 accounts with frozen amounts, total 127,719 TRC

With the current unfreezing rate, it will take 159 months, 9971 months, 4242 months and 13291 months respectively  to finish the whole process...

Wow.

[Nightowlace]

Another update today from the website:

Update 20th August 2014
Payout to frozen accounts this month:
10.515 BTC
15.24 LTC
29.44 FTC
9.61 TRC

Total balances after the amounts have been distributed
BTC: 329 accounts with frozen amounts, total 1,671 BTC
FTC: 42 accounts with frozen amounts, total 151,953 FTC
LTC: 2299 accounts with frozen amounts, total 124,864 LTC
TRC: 77 accounts with frozen amounts, total 127,719 TRC

With the current unfreezing rate, it will take 159 months, 9971 months, 4242 months and 13291 months respectively  to finish the whole process...

You forgot to factor in the rising difficulty. As more exchanges open, less coins will be traded here. 

[fronti]

Another update today from the website:

Update 20th August 2014
Payout to frozen accounts this month:
10.515 BTC
15.24 LTC
29.44 FTC
9.61 TRC

Total balances after the amounts have been distributed
BTC: 329 accounts with frozen amounts, total 1,671 BTC
FTC: 42 accounts with frozen amounts, total 151,953 FTC
LTC: 2299 accounts with frozen amounts, total 124,864 LTC
TRC: 77 accounts with frozen amounts, total 127,719 TRC

With the current unfreezing rate, it will take 159 months, 9971 months, 4242 months and 13291 months respectively  to finish the whole process...

faster then mtgox ...