The Mintpal "breakdown"

[TookDk]

I am not a big user of altcoin (maybe with the exception of LTC and DOGE, but physical coins only).

Can one of you hardcore altcoin users give me a summery of what happen to mintpal?

I rarely exchange alt's but after virurex died I start using mintpal, kinda like that site... last thing I saw that they had a big launch of V2.
And ever since that they never got up running again (luckily I did not have any funds there).

I just read a post about a poor user who lost DRK coins there.
What is the story behind mintpal? Hack, owner ran with money, technical issues?

(speculations are welcome as well)

Thanks

[jertsy]

You can read the long version here.

https://bitcointalk.org/index.php?topic=824211.0

Mintpal was sold to a scammer who kept changing his name. He stole all the bitcoins and ran away with them. A UK court case about it is ongoing, but the last I heard nobody knows where the scammer is. Other people helping to run Mintpal have returned some of the low value shit coins on there to people.

[TookDk]

Was the upgrade to V2 just a scam to stall people and get time to cash out?

[iGotSpots]

People got robbed. Again. For not personally securing their wealth. You guys really need to stop leaving coins on sites. Some will rob you blind and others (Cryptsy) will just stake your balance and double dip making money off of you on top of trade fees, dumping the coins and lowering everyone's holdings

Leaving coins on exchange gives you two options: robbed quickly, or slowly bled to death

[TookDk]

People got robbed. Again. For not personally securing their wealth

Yes, it is horrible. Crypto is still the wild-wild-west. Feel sorry for the people who lost funds.
I am just trying to get an overview of what happen.

[jertsy]

Was the upgrade to V2 just a scam to stall people and get time to cash out?

I'm not sure, but it might have been. The v2 was a complete mess that never really worked. Some people's balances conveniently disappeared after the swap over.

[a fool and his money ...]

check twitterof mintpal and moolah to see how things went down. Hilarious, i tell ya.

[TookDk]

check twitterof mintpal and moolah to see how things went down. Hilarious, i tell ya.

I just studied the twitter plus http://pastebin.com/vKpnWQcp

What a mess.

[a fool and his money ...]

https://bitcointalk.org/index.php?topic=824211.0