CryptoRush.in is insolvent and has shut down.

[Cryptogirl82]

So how much Crypto did you guys lose on CryptoRush.in?
This morning I luckily managed to withdraw my 250 Auroracoins and 1.5 BTC. I still had 2.9 mio. NDL coins which have vanished.

Fuck you Kristian (owner of CryptoRush) - may you rot in hell!!!

[DubFX]

Is this truth or just cryptorush downtime?

[Cryptogirl82]

Is this truth or just cryptorush downtime?

This morning there was a message on the cryptorush.in homepage: we are insolvent and have new owners...bla bla bla.

Kristian has stolen our money. This is the next MTGOX scam!

[Beliathon]

You're old enough to know better than to trust strangers with your wealth. There's no excuse in a post-gox world.

"If you are not the sole holder of your private keys..."

[jtsnau]

CryptoRush was always the go-to exchange for hosting premined scam-coins (e.g. Pandacoin, 10-5, etc.).

Where will the scammers go to now?

[Cryptogirl82]

CryptoRush was always the go-to exchange for hosting premined scam-coins (e.g. Pandacoin, 10-5, etc.).

Where will the scammers go to now?

Cryptsy I guess. I bet my hot ass Cryptsy will be the next exchange to shut down!

[Beliathon]

Cryptsy I guess. I bet my hot ass Cryptsy will be the next exchange to shut down!

I'll never understand why people leave their wealth in any wallets other than those they control...

Would you feel safe leaving your physical wallet at the laundromat? The grocery store? Those are places of exchange, too.

[Dipt]

The best would be to only have coins on a exchange when you trade, and then move it out. But because people want it easy,they leave the coins at the exchange.

Its just F*cked up that there is not really one exchange we can trust these days.

[Dipt]

Its just F*cked up that there is not really one exchange we can trust these days.

Coinbase

Nice, but what if you have coins other then Bitcoin?

[medUSA]

I was just considering going to CryptoRush yesterday to tryout some alts. Lucky I was lazy.  

[elrapido80]

The best would be to only have coins on a exchange when you trade, and then move it out. But because people want it easy,they leave the coins at the exchange.

Its just F*cked up that there is not really one exchange we can trust these days.

So true, there's several currencies I want to provide buy support to, but none of them are on exchanges that I feel are safe.

[Lordoftherigs]

Well to be honest you should have seen this coming.

First they messed up the Zeitcoins and generated a huge loss for everybody who had any Zeitcoins on cryptorush. Then they lost all Blackcoins (I lost 5k blackcoins ). And after that they halted BTC withdrawals. At this point users started to buying overpriced altcoins just to transfer their money out of cryptorush.

It went on like this for a week and in the end people that were not willing to loose some BTCs on expensive altcoins lost everything in the end.


Morals of the story : Don't be greedy and naive at the same time.

[Armis]

When core market value go down it naturally weeds out the ponzi schemes  IMO, just add it to the list:
https://bitcointalk.org/index.php?topic=83794.0
http://www.youtube.com/watch?v=oQTM8NkbIVw&t=24m30s

cryptocurrency investors, and speculators want and need more accountability, responsibility, and transparency from their service providers.

1) Identification -  if you claim to have 5 employees/partners, support that with photos and info on each (About Us page), this is an old current standard, the new current standard would be to have an affidavit sworn or affirmed to by each indicating that they ... [are not a bad guy, or is a reformed bad guy, ...], pdf all of the already public info like license, etc so that the community could better know you

2) Insurance - general liability, officer E/O, employee bonding, etc

3) Community certification - the community to rate you, provide the star rating on your site

4) Internal Audit - used the blockchain to prove assets, solvency.  A signed transaction, on a regular basis. ie: 50Kbtc represents assets on hand 'signed by exchange'

5) External Audits -  quarterly security audits, and annual whole system audits (financial, security, customer service, policy, procedures)


The community must demand AT LEAST the above from EXISTING and all new exchanges, 2FA and FinCen registration is not nearly enough. 

It's time for service providers to make the promises, warrants, guarantees, and assurances and to proudly stand behind them, those who do will LEAD the industry with higher quality standards.

[Gordon Bleu]

Oh no, i lost all my Magic Internet Money thats terrible. But also Sorry for those who really lost something.

[Moebius327]

People never learn.

[CryptoDomains]

Ironic, when weighing risk the fiat keeps winning, for now.

[cozk]

This exchange was shady from day 1.

Having more than a BTC is that shithole was retarded and deserved to be lost.

[Cryptogirl82]

ok Cryptorush.in is back up..... I advise everybody to get their Crypto out of CryptoRudh.in ASAP!!!!!!!!!!

[sdersdf2]

When core market value go down it naturally weeds out the ponzi schemes  IMO, just add it to the list:
https://bitcointalk.org/index.php?topic=83794.0
http://www.youtube.com/watch?v=oQTM8NkbIVw&t=24m30s

cryptocurrency investors, and speculators want and need more accountability, responsibility, and transparency from their service providers.

1) Identification -  if you claim to have 5 employees/partners, support that with photos and info on each (About Us page), this is an old current standard, the new current standard would be to have an affidavit sworn or affirmed to by each indicating that they ... [are not a bad guy, or is a reformed bad guy, ...], pdf all of the already public info like license, etc so that the community could better know you

2) Insurance - general liability, officer E/O, employee bonding, etc

3) Community certification - the community to rate you, provide the star rating on your site

4) Internal Audit - used the blockchain to prove assets, solvency.  A signed transaction, on a regular basis. ie: 50Kbtc represents assets on hand 'signed by exchange'

5) External Audits -  quarterly security audits, and annual whole system audits (financial, security, customer service, policy, procedures)


The community must demand AT LEAST the above from EXISTING and all new exchanges, 2FA and FinCen registration is not nearly enough. 

It's time for service providers to make the promises, warrants, guarantees, and assurances and to proudly stand behind them, those who do will LEAD the industry with higher quality standards.

Are people willing to pay higher fees for all that?

[Cryptogirl82]

Ok just swap my last alts into BTC on cryptorush.in. That was no problem. But now CryptoRush won't let me withdraw my BTC. Looks like it is Game Over for CryptoRush.
It was the same with MTGox before they went offline forever!!

Somebody should start a Cryptorush Coin so that we can get our money back!