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Author Topic: Intersango Exchange  (Read 76235 times)
matthewh3
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June 06, 2012, 07:14:31 PM
 #101

I thought you process transactions seven times a day?  I deposited via UK online banking nearly twelve hours ago.  I really hope this isn't the third time in three months for me that's it's taken longer than 24hrs to deposit as your bank will receive my transaction instantly or up to two hours at the very latest.

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ptd
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June 06, 2012, 10:26:13 PM
 #102

I believe Intersango is the best kept secret in Bitcoin!


Agreed.  Some of the most tech-savvy and security-conscious people are behind it.



Aren't they the same folks who were running Bitcoinica? I think I might be more tech savvy than those guys. I least I know to not store 18,000 BTC online.

They were in the process of taking it over when the second hack happened. They can't be held responsible when they had only just taken over and hadn't had an opportunity to change anything.
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June 06, 2012, 11:42:10 PM
 #103

They can't be held responsible when they had only just taken over and hadn't had an opportunity to change anything.
Not to put too fine a point on it, but they are very responsible, and the mail vulnerability was a direct result of an action that one or more of the team members took.
Further discussion has already been had in numerous other threads, search for them.

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realnowhereman
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June 07, 2012, 03:11:16 PM
 #104

I've just read this:

On a more base level, we lock logins after 10 failed login attempts.

What, my Intersango experts in security, is to stop someone combining the very publicly distributed list of Intersango customer emails with the above short sighted rule to lock every single Intersango account?

Would you not perhaps be better locking the attempting IP; or simply adding an exponentially increasing delay between failed logon attempts?

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sethsethseth
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June 07, 2012, 08:56:16 PM
 #105

Hadn't done a withdrawl since january, and was suprised to see it clear just a few hours after initiating it.  So I changed my sig again.  <3 intersango.

SealsWithClubs poker room has  over 400 players online. Buy in from .01 to 60btc.      BTCSportsMatch lets you bet sports with vig free lines!  Best kept secret in bitcoin....          LocalBitcoins.com is very user-friendly now for bank transfers.  You don't have to live close to trade when in the same currency area.           
Electrum client is awesome. Try it. And please stop sending bitcoins to sites run by security newbies, or don't complain when you lose everything.
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June 07, 2012, 09:41:13 PM
 #106

I've just read this:

On a more base level, we lock logins after 10 failed login attempts.

What, my Intersango experts in security, is to stop someone combining the very publicly distributed list of Intersango customer emails with the above short sighted rule to lock every single Intersango account?

Would you not perhaps be better locking the attempting IP; or simply adding an exponentially increasing delay between failed logon attempts?


The lock is done based on IP address not email.
Kazimir
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June 07, 2012, 10:48:29 PM
 #107


phantomcircuit, your feedback about Intersango on this forum is highly appreciated!

Question, a few days ago I posted this:

What do you mean with 'transfers into the accounts are processed every 30 minutes'?

I've done a SEPA deposit yesterday. It appeared in the Deposits list this morning, but its status has been 'pending_review' since, and the money is still not on my balance.
The money appeared on my account late that evening. Just to be clear: I wan't really worried about this, I wasn't any expecting any real problems. Except for this delay on deposits, all my business with Intersango has been just fine so far.

But can I ask why payments are on 'pending_review' for so long, and more importantly: is there anything you (or I) can do to prevent this delay?

(P.S. of course I did fill in the correct description with my transfer, exactly as specified)

In theory, there's no difference between theory and practice. In practice, there is.
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phantomcircuit
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June 08, 2012, 12:19:11 AM
 #108


phantomcircuit, your feedback about Intersango on this forum is highly appreciated!

Question, a few days ago I posted this:

What do you mean with 'transfers into the accounts are processed every 30 minutes'?

I've done a SEPA deposit yesterday. It appeared in the Deposits list this morning, but its status has been 'pending_review' since, and the money is still not on my balance.
The money appeared on my account late that evening. Just to be clear: I wan't really worried about this, I wasn't any expecting any real problems. Except for this delay on deposits, all my business with Intersango has been just fine so far.

But can I ask why payments are on 'pending_review' for so long, and more importantly: is there anything you (or I) can do to prevent this delay?

(P.S. of course I did fill in the correct description with my transfer, exactly as specified)

The quoted time is for from receipt at BZWBK to being processed by us.

The pending_review thing will go away after you've done a few transactions for roughly the same amount, unless you've done something that breaks a specific trip.
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June 08, 2012, 09:27:57 AM
 #109

On a more base level, we lock logins after 10 failed login attempts.

What, my Intersango experts in security, is to stop someone combining the very publicly distributed list of Intersango customer emails with the above short sighted rule to lock every single Intersango account?

Would you not perhaps be better locking the attempting IP; or simply adding an exponentially increasing delay between failed logon attempts?


The lock is done based on IP address not email.

Good news.  Can I suggest clarifying the linked page?

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Kazimir
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June 09, 2012, 09:21:25 AM
 #110

The quoted time is for from receipt at BZWBK to being processed by us.

The pending_review thing will go away after you've done a few transactions for roughly the same amount, unless you've done something that breaks a specific trip.
OK thanks. Yeah I've done quite some deposits for roughly that amount before. But I recently switched to a new bank account (now depositing from there instead of the old one) so maybe that caused it.

I did another deposit on thursday evening and it's on pending_review again since yesterday evening. Do you review during the weekends?

In theory, there's no difference between theory and practice. In practice, there is.
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Mushoz
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June 09, 2012, 12:07:49 PM
 #111

Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0
You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least.

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El Cabron
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June 09, 2012, 12:29:13 PM
 #112

Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0
You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least.

Related, when bitcoinica and you guys get sued does intersango risk being shut down or having their bank accounts frozen? How separated is intersango from bitcoinica?  I have funds in both places so I would really like to know.

Thanks


Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
Trolling
https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
Mushoz
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June 09, 2012, 12:43:03 PM
 #113

Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0
You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least.

Related, when bitcoinica and you guys get sued does intersango risk being shut down or having their bank accounts frozen? How separated is intersango from bitcoinica?  I have funds in both places so I would really like to know.

Thanks



Well, as far as I understand (I'm no expert in this area, so take this with a big grain of salt) The Intersango Guys and Bitcoinica are two separate entities. This means that if Bitcoinica goes down under, they have no responsibilities. However, with the way they are handling this situation, they can be charged with criminal offenses. In this case, they personally are _not_ protected by being two separate entities. How this will affect their other company, Intersango in this case, remains to be seen.

www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
disclaimer201
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June 09, 2012, 05:06:17 PM
 #114

Time for some serious answers. One way or another, Intersango is history.

phantomcircuit
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June 09, 2012, 07:51:31 PM
 #115

Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0
You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least.

Neither Intersango nor Bitcoin Consultancy is involved in bitcoinica.

Some of the Intersango/Bitcoin Consultancy team members are, however posting about that in this thread is wildly inappropriate.
disclaimer201
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June 09, 2012, 09:47:05 PM
 #116

Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0
You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least.

Neither Intersango nor Bitcoin Consultancy is involved in bitcoinica.

Some of the Intersango/Bitcoin Consultancy team members are, however posting about that in this thread is wildly inappropriate.

So, Bitcoin consultancy isn't involved in bitcoinica? Are you joking? You haven't seen anything yet that is inappropriate. This is about approximately 1 million USD of customers' deposits, and you say you are not responsible?! Who is?!

Mushoz
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June 10, 2012, 10:14:01 AM
 #117

Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0
You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least.

Neither Intersango nor Bitcoin Consultancy is involved in bitcoinica.

Some of the Intersango/Bitcoin Consultancy team members are, however posting about that in this thread is wildly inappropriate.

I do not think it is wildly inappropriate. What I do think is wildly inappropriate is the lack of communication from Bitcoinica and its partners, while a million in dollars and BTC combined is being held in limbo. What I find downright saddening is the same mistake (lack of communication) being made again, I quote:

All further communication regarding bitcoinica will be posted on bitcoinica.com or answer to specific questions from verify@bitcoinica.com

Responding to insane accusations and downright defamation is a waste of everybodies time which just makes this all take even longer.

All further communication? There's been hardly any communication so far. The last post on Bitcoinica.com is from 2012-05-15 for crying out loud! And people are complaining about lack of responses from verify@bitcoinica.com as well, so that doesn't seem to be a valid way to get any information either. Start communicating! There's plenty of people threatening with legal battles. I think we both can agree that legal battles is the last thing we need, and will be bad both for Bitcoinica and its partners AND its customers. So start communicating, _at least_ on daily basis, and I'm sure many of the rumors will die down, giving you the much needed time to fix this mess.

Thank you very much in advance.

Ps. I'm sorry for derailing this thread yet again, but I see no other way of getting your attention.

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ninjarobot
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June 10, 2012, 03:38:45 PM
 #118

Since I understand that the Intersango/Bitcoin consultancy team member are not reading the bitcoinica payout thread anymore, I have decided to cross-post this here as I do think the community deserves an answer on this issue. I'm sorry if it is off-topic.

Neither Intersango nor Bitcoin Consultancy is involved in bitcoinica.

Some of the Intersango/Bitcoin Consultancy team members are, however posting about that in this thread is wildly inappropriate.

That is funny because Donald Norman, the CEO of Intersango/Bitcoin Consultancy claimed the following on 2012/04/24:

http://bitcoinmedia.com/first-licensed-advanced-trading-platform-for-bitcoin/

Quote
This platform announced today, a new contract signed with the Bitcoin Consultancy Ltd. Bitcoin Consultancy will be taking a dominant role in the operations of Bitcoinica, ushering forward its continued safety and stable operation.

Tihan also claims otherwise:

Quote from: tseale
Bitcoin Consultancy was first retained to perform a comprehensive security audit on March 27 and they became owners and operators of Bitcoinica LP on April 24*. As General Partner, they have exclusive legal authority to manage the company.

And Zhou:

https://www.bitcoinica.com/posts/joining-forces-with-bitcoin-consultancy

Quote
The Bitcoin Consultancy team will be responsible for the daily operations of Bitcoinica, including customer support, compliance and new features. We have some amazing improvements in the works that we know our customers will love.

I'm starting to suspect some serious corporate switcharoo here.

Searching NZ companies I don't see a "Bitcoinica LP".  I do see a "BITCOINICA CONSULTANCY LIMITED":
 - http://www.business.govt.nz/companies/app/ui/pages/companies/search?q=bitcoinica&mode=standard

So around April 21 there were the following entries in the NZ register:
  • "BITCOINICA CONSULTANCY LIMITED"
  • "CORE CREDIT LIMITED" (30/01/2012)
  • "BITCOINICA LP" (FSP) (22/03/2012)

However on May 30 the following happened:

  • "BITCOINICA CONSULTANCY LIMITED" > registration withdrawn.
  • "CORE CREDIT LIMITED" > namechange >  "BITCOINICA CONSULTANCY LIMITED"

So correct me if I'm wrong but it seems that:
  • Intersango guys were the original BITCOIN CONSULTANCY LIMITED (General Partner)
  • Tihans investment fund was CORE CREDIT LIMITED. (Majority Limited Partner)
  • On May 30 the LIMITED PARTNER changed name to that of the GENERAL PARTNER.

This would also explain genjix statement:

Tihan denies being in charge, which means his parent company (Core Credit) has to authorise the payments. However Tihan is saying we don't need that.

  • Who took over from Zhou as acting CEO or managing director of Bitcoinica LP on April 24?
  • Who is the acting CEO or managing director of Bitcoinica LP since May 30?
  • Who is currently the general partner & who are the limited partner(s)?
  • What is the reason for these corporate changes as such a late stage?

Thank you.
Serenata
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June 13, 2012, 05:39:54 AM
 #119

Dear Intersango,

I paid a closer look at the EUR order book today and noticed that over 75% of the total BIDs are “fictional”. People are placing large buy orders with ridiculously low bid prices creating that way a false demand of bitcoins and are a bad influence on the market itself. I don’t see anyone selling BTC for 0.0011 and 0.00010 EUR per BTC any time soon.

I propose BIDs and ASKs that are over or lower than 30% of the average market price, to be excluded from the graph at the top, so we have a clear picture of the supply and demand of bitcoins. The bids will stay on the order book of course, they’ll just not show-up on the graph.

Your thoughts?

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miernik
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June 13, 2012, 05:46:25 AM
 #120

Your thoughts?

Against.

This has no influence on the market at all. The graph should be consistent with the order book, arbitrarily excluding some orders will just be confusing. Almost all markets have such buy orders at prices orders of magnitude away from the current trading prices. No one should view the sum of BTC bid orders by BTC as the measure of demand for Bitcoin.


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