tshaw (OP)
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April 09, 2014, 02:30:24 PM |
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About two weeks ago Vircurex proved to be a ponzi scheme. They knew they were going to freeze all BTC and LTC balances so they they raised the prices of what they were offering for other alt coins. For example Dogecoin was selling for 40% higher than it was on Cryptsy. Naturally I transferred all my Doge to Vircurex, sold them off for BTC, and when I went to transfer them back to Cryptsy my account was frozen. I'm sure this happened to hundreds or even thousands of other people. I've already acquired an attorney familiar with the crypto space and we are working on a class action lawsuit. If this happened to anyone else and you'd like to join in please post here or PM me. Thanks.
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matthewh3
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April 09, 2014, 02:53:54 PM |
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They never raised the price of alt-coins. Users we're selling off their BTC and LTC that was to be frozen into alt-coins. So that they could cash their balances. You got an inflated price for your alt-coins and should have read into why you was getting an inflated price for them.
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bumblebee33
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April 09, 2014, 02:54:05 PM |
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That sounds very similar like Cryptorush. Also their prices are way higher, and you cannot take out any BTC, LTC,...
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tshaw (OP)
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April 09, 2014, 03:27:46 PM |
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Actually Matthew I have the screenshots showing exactly what happened. Sounds like you are a Vircurex employee. At the exact same moment they froze BTC and LTC balances the price they were listing Dogecoin for dropped over 40%... below what Cryptsy was listing Dogecoin as. It's clear as day they were trying to get as many incoming BTC and LTC transactions to pay their debts from mis-managing the website. Why should their users pay for their mistakes? Regardless I have a solid case according to my attorney and your opinion really holds no weight with me.
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bumblebee33
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April 09, 2014, 04:36:55 PM |
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How much did you lose?
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ymer
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April 09, 2014, 05:11:41 PM |
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Actually Matthew I have the screenshots showing exactly what happened. Sounds like you are a Vircurex employee. At the exact same moment they froze BTC and LTC balances the price they were listing Dogecoin for dropped over 40%... below what Cryptsy was listing Dogecoin as. It's clear as day they were trying to get as many incoming BTC and LTC transactions to pay their debts from mis-managing the website. Why should their users pay for their mistakes? Regardless I have a solid case according to my attorney and your opinion really holds no weight with me.
Congratulations, but you will get nothing back, sorry. Greed bit you in the ass, learn your lesson and move on. |
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tshaw (OP)
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April 09, 2014, 07:59:14 PM |
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Only 13 BTC Bumblebee, but it's more about principal for me...
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bumblebee33
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April 09, 2014, 08:41:32 PM |
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Sh*t, that is quite a sum. I hope you succeed with getting something back.
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Sharrow
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April 09, 2014, 09:09:03 PM |
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Is it just me or does Vircurex sounds like a cream you would smear on your manhood to soothe herpes sores?
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True___Blue
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April 09, 2014, 11:05:11 PM |
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Is it just me or does Vircurex sounds like a cream you would smear on your manhood to soothe herpes sores?
BWAHAHAHAHAHA! |
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PhattyBanks
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April 09, 2014, 11:10:26 PM |
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How do you sue a company in China?
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kalus
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let's make a deal.
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April 10, 2014, 05:28:18 AM |
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I've already acquired an attorney familiar with the crypto space and we are working on a class action lawsuit. does your lawyer accept dogecoins? ask them if they'll accept alternate payments. at least one does: https://www.youtube.com/watch?v=DgYafqOLHg0 |
DC2ngEGbd1ZUKyj8aSzrP1W5TXs5WmPuiR wow need noms
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Eli0t
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April 17, 2014, 02:35:08 AM |
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whats the story with Vircurex? i thought they closed down but i see they're back today with some new coins
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LTC: LKpJf3uk7KsHU73kxq8iFJrP1AAKN7Yni7 DGC: DKXGvEbj3Rwgrm2QQbRyNPDDZDYoq4Y44d XPM: AWV5AKfLFyoBaMjg9C77rGUBhuFxz5DGGL
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HomegrownUK
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May 03, 2014, 06:41:28 PM |
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This happened to me too, I was happy to just wait and see what happened with the frozen funds but now nearly 6 weeks have passed and no-one has kept us informed as to the situation i'm starting to get annoyed.
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krach
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Get Rekt
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May 03, 2014, 07:00:52 PM |
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Doesnt Vircurex run Cryptostocks.com ? I would try to withdraw from cryptostocks NOW
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TheCloser
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May 04, 2014, 01:05:55 AM |
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So, for the record, an exchange is a location where multiple parties congregate and trade different mediums. One person sets a price to sell their particular medium and others may chose to buy or offer on that item. In some cases the seller may lower their set point if they feel an offer is close enough to their asking price resulting in a sale. the exchange takes their fee and the two parties move on and live their lives. End exchanges 101.
When Vircurex makes an announcement stating they will be freezing BTC and LTC, everyone panicked and tried moving their BTC and LTC into alts so they could withdraw their funds as alts. Demand for alts rose and so did the price. Everyone got hosed on that site and I feel I was lucky enough to pick the least inflated alt to exchange and withdraw from which resulted in a negligible loss in BTC after the necessary transfers were completed. Learn how to protect yourself when there's blood in the streets or you won't survive.
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davidwolf
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May 04, 2014, 01:35:15 AM |
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I had some coins in there too. What is going to happen? Can we do anything?
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TheCloser
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May 04, 2014, 02:04:47 AM |
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That is extremely stupid to send anything to vircurex in the midst of the crisis, didn't you stop to think as to why doge was 40% higher?
That being said, they never put a warning up on their site about freezing BTC and LTC, which is illegal. I can't believe they're still running. They are crooks.
There was 24 hour notice that BTC and LTC withdrawals were going to be frozen which led to the inflated alt prices. |
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TheCloser
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May 04, 2014, 03:25:37 AM |
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That is extremely stupid to send anything to vircurex in the midst of the crisis, didn't you stop to think as to why doge was 40% higher?
That being said, they never put a warning up on their site about freezing BTC and LTC, which is illegal. I can't believe they're still running. They are crooks.
There was 24 hour notice that BTC and LTC withdrawals were going to be frozen which led to the inflated alt prices. Actually, on their front page they never posted anything, I remember that clearly. Unless you were on bitcointalk or reddit you wouldn't have known. I did about 30 BTC of business with vircurex, my last deposit was 6 hours before the disaster. I was extremely fortunate. I remember their bitcoin wallet started to glitch out which scared me off. I got notification on March 23rd it was going to happen on the 24th and then it didn't really happen until the 25th for me when I went to withdraw my DGC |
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HomegrownUK
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May 05, 2014, 07:13:56 PM |
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Vircurex Latest
Update 5th May 2014
Payout to frozen accounts this month:
14.34 BTC
67.74 LTC
89.6 TRC
30.9 FTC
Total balances after the amounts have been distributed
BTC: 346 accounts with frozen amounts, total 1720 BTC
FTC: 42 accounts with frozen amounts, total 152,075 FTC
LTC: 2432 accounts with frozen amounts, total 124,917 LTC
TRC: 77 accounts with frozen amounts, total 127,746 TRC
My newborn son will be dead before they pay what they owe!
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