BTC.com (wallet) shutting down

[OmegaStarScream]

The wallet service is shutting down so make sure to withdraw your funds and also stop using the address they provided you with before the 1st of April.

I doubt there are many who are still using the service by now but I'm posting this because I remember that at some point, they were overestimating fees (like really overestimating) and that led some people to just keep their funds there and forget about them in hopes that the fees will be fixed.

[ABCbits]

The official announcement can be found here, https://wallet.btc.com/#/announcement. Although they shut down their wallet service, they also state some support is available even after shutdown.

If you have any balance-related issues after the service is shut down, please contact us through the official email address: support@btcm.group,  we will handle it for you ASAP.

[PX-Z]

This is what happened when you run a wallet that is fully dependent to the business' operation or website's server unlike running like an open source and non-custodial.

People already know what are the disadvantages and cons when using this kind of wallet. Plus their wallet service seems is a long dead already.

[dkbit98]

I never used btc.com wallet and I didn't know this even exist, but I am wondering if this could be a sign of btc.com mining pool slowly shutting down their service.
We know they are based in China (and Singapore) but they reduced hashrate a lot in last several months so this could be something related with regulations.
One year ago they were in top five pools and they had more that double of hashrate they have now.

[SFR10]

If you have any balance-related issues after the service is shut down, please contact us through the official email address: support@btcm.group,  we will handle it for you ASAP.

BTC.com officials and staff will never ask you for your account password, backup PDF file, and will never ask you to make private transfers and withdrawals!

This is strange! How can they handle such cases without having access to "backup PDF files" and private keys?
^{- AFAICR, this is also the first time I'm hearing about the wallet in question.}

[The Cryptovator]

Thanks for sharing with us, I never used this wallet nor do I know about their service. Just wondering was the wallet custodial? If so then this is the disadvantage of using the custodial wallet. If it was non-custodial then the fund should be recovered by the seed phrase. Not sure why they shut down the wallet service, those users will notice after the shutdown will fall in trouble. There wouldn't be an easy process of recovering funds.

[nc50lc]

The wallet service is shutting down so make sure to withdraw your funds and also stop using the address they provided you with before the 1st of April.
-snip-

I hope people will take it seriously. Because look at the date  :P
Specially on April 1st when they will announce "Our wallet service has officially shut down".

BTW, I have a PDF backup file of my test wallet and I can't restore it using their wallet recovery tool (with the correct password),
I guess bitcointalk will be getting lots of BTC.com-related threads later.

[OmegaStarScream]

BTW, I have a PDF backup file of my test wallet and I can't restore it using their wallet recovery tool (with the correct password),
I guess bitcointalk will be getting lots of BTC.com-related threads later.

Are you getting any errors?

-snip-

It's a multi-sig wallet (it was later acquired by BTC.com): https://cointelegraph.com/news/blocktrail-enables-multi-signature-functionality-by-default-in-new-product-release

-snip-

I could be wrong but 'balance-related issues' sound like a problem the recovery tool would have when trying to retrieve the addresses with balances.

You might have heard of the wallet under the name "Blocktrail"

[nc50lc]

BTW, I have a PDF backup file of my test wallet and I can't restore it using their wallet recovery tool (with the correct password),
I guess bitcointalk will be getting lots of BTC.com-related threads later.

Are you getting any errors?

"An error was encountered: gcm: tag doesn't match" (which may be the password but I haven't changed my password).
The "forgot password" tool within the recovery tool wont send the alternative 'decryption key' to my email either (waited for hours).

I'm not looking for support though, solving it is pointless since it's a 'for test' wallet only, nothing's in it.

[The Sceptical Chymist]

This is what happened when you run a wallet that is fully dependent to the business' operation or website's server unlike running like an open source and non-custodial.

Yeah, it kind of makes me wonder why there were so many web wallets that actually weren't scams, because given the nature of bitcoin they seem like they'd only be advantageous to scammers.  And so many people have used them over the years (including myself before I really knew much about crypto) that it just makes me scratch my head.

I never used btc.com's wallet, but the blockchain.info one had that same problem of jacking up the fees and not giving users control over how small they want the Tx fee to be.  Anyway, it's not a huge loss to the bitcoin world that btc.com is closing their wallet service, but it's just another thing being added to the "remember when....?" list of things we'll be reminiscing about in 10 years when the whole crypto space has lost the wild west feel altogether.

[SFR10]

I could be wrong but 'balance-related issues' sound like a problem the recovery tool would have when trying to retrieve the addresses with balances.

You're probably right and the other link you provided earlier in regards to being a multi-sig wallet, helped a lot ^{[I thought they were lying about what they really have in their possession and it seems that @ETFbitcoin is also right about the support being limited]}.

You might have heard of the wallet under the name "Blocktrail"

Honestly, I only remember their explorer ^{[I guess I lived under a rock at that time]}.

[OmegaStarScream]

I just received another reminder from them, so I thought I'd bump this topic one last time just in case people missed it

Dear BTC.com Wallet Users,

We regret to inform you that due to the upgrade and adjustment of the BTC.com business, the BTC.com wallet will officially stop service at 00:00 (UTC+0) on April 1, 2022. The BTC.com wallet registration function entrance will be closed from now on, please complete the withdrawal ASAP. BTC.com other business services are normal and unaffect. We do apologize for the inconvenience.

After the service is shut down, the address provided by the BTC.com wallet will not be able to be used normally. If you use the BTC.com wallet address on other platforms, please stop using it ASAP and export your BTC.com wallet balance to other available wallets in time.

If you have any balance-related issues after the service is shut down, please contact us through the official email address: support@btcm.group,  we will handle it for you ASAP.
Thank you for your continued support and love for the BTC.com wallet. BTC.com will continue to forge ahead on the road of continuous optimization and innovation, and continue to provide professional data and mining pool services for blockchain enthusiasts around the world.

Please pay attention to the safety of your funds and beware of new scams. BTC.com officials and staff will never ask you for your account password, backup PDF file, and will never ask you to make private transfers and withdrawals!

[DaveF]

Since there has been so little mention of it, I wonder how many users they really had.

Thinking about it with breadwallet being bought by Coinbase and btc wallet shutting down.
I guess more and more businesses are getting rid of the free services that they can't figure out a way to monetize.

Selling at a loss and making it up in volume only works for so long ;-)

-Dave

[Husires]

The wallet service is shutting down so make sure to withdraw your funds and also stop using the address they provided you with before the 1st of April.

Does anyone know what is the link between BTC.com and https://blockchair.com/?
I did a Google search and found out that BTC.com was Blocktrail.com which is redirected me to BTC.com or blockchair.com.
I haven't heard about this wallet, probably because I got to know Bitcoin in 2018, but since it has multi signatures, can they use a recovery tool like a blockchain.com wallet, pre signed muti-signatures, or will people who haven't withdraw their money end up losing it?

[Potato Chips]

Does anyone know what is the link between BTC.com and https://blockchair.com/?
I did a Google search and found out that BTC.com was Blocktrail.com which is redirected me to BTC.com or blockchair.com.

Bitmain owns BTC.com. Looking at blockchair's about page, they have listed bitmain as one of their general partners.

I haven't heard about this wallet, probably because I got to know Bitcoin in 2018, but since it has multi signatures, can they use a recovery tool like a blockchain.com wallet, pre signed muti-signatures, or will people who haven't withdraw their money end up losing it?

From what I know, only their own recovery tool works. People should still be able to get their funds out even after the service has shut down as long as they have their backup sheet and the recovery tool working as intended.

[logfiles]

Does anyone know what is the link between BTC.com and https://blockchair.com/?
I did a Google search and found out that BTC.com was Blocktrail.com which is redirected me to BTC.com or blockchair.com.

Bitmain owns BTC.com. Looking at blockchair's about page, they have listed bitmain as one of their general partners..

From what I remember blockchair.com used to list alternative links of other block explorers just right at the bottom amd I think they still do it. I think that's why you got redirected.
it's more like Etherscan listing Etherchain.org as an alternative.

[Potato Chips]

From what I remember blockchair.com used to list alternative links of other block explorers just right at the bottom amd I think they still do it. I think that's why you got redirected.
it's more like Etherscan listing Etherchain.org as an alternative.

oh I thought @Husires was asking about why blocktrail listed and redirected users to either BTC.com and blockchair.com  (ultimately, whats the relationship between BTC.com/blocktrail with blockchair.com)

Just wanna make sure we're on the same page. If we are, I do think your theory is also possible but I find it too much of a coincidence that the only block explorers blocktrail listed are deeply involved with them.

I think this is much clearer than "partners"

...Bitmain is also an early investor in Blockchair.