BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE |

[Nautica]

if they go bankrupt, doesn't that mean everybody is screwed whether you're holding btc or alts? because wouldn't they have to liquidate all assets and redistribute among stakeholders?

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[finlon]

if they go bankrupt, doesn't that mean everybody is screwed whether you're holding btc or alts? because wouldn't they have to liquidate all assets and redistribute among stakeholders?

I don't know, but don't think so. As for now they clearly have those alts, and claiming you don't have them anymore would only get you in more serious trouble.

The only thing they might be able to take away by doing that is the BTC. But I might be wrong on this.

[mishax1]

Just posted

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

[tee-rex]

Just posted

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

The exchange is also unavailable right now, "we are deploying our new trading system with the safest ever cold wallet solution, newly designed UI and more". They seem to be making changes to it, hope the changes will be for the better.

So let's wait for another day or two, something is about to happen.

[finlon]

Just posted

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

Well, I doubt it will get any of us to even trade on their site, after all that happened.

They have already lost all of the trust they had. No way, I would put my money on the site, even with the guarantee of it being safe, as thats what a cold wallet essentially was.

[Kn_os]

Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

[calci]

Read between the statement , safest ever. This probably gives them the excuse to be hacked a third time and give no reason for it.

[redsn0w]

Just posted

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

Thanks for the update, I have added the tweet in the initial post and I hope they will reopen as soon as possible but first they should "gain" the confidence to all the customers.

[tersagun]

Just posted

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

LOL

Seems like they were waiting for my post.

[redsn0w]

Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

[SolidStateSurvivor]

Well, that would be the end of that, right?

[Kn_os]

Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".

[tee-rex]

Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".

I beg to differ. Especially about the part that Lin is trying to save the exchange by holding users' coins. He certainly would if he allowed trading but disallowed withdrawals. But since neither is allowed at the moment, it is a moot point which will be resolved once the exchange opens (if ever).

[finlon]

Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".

I don't know the real reason behind it, but the volume on bitstamp have actually been affected after the hack.

As for bitstamp, I still respect them for being able to refund the coins, and it doesn't really matter if they have come back.

[sherbyspark]

Tired of them promises.. wait another 2 days for "trades, new design??? " who need this shit right now? When everyone need to save money from bter.

Proly that scamers just enjoy mocking users?

The same thing that bitstamp  did, new design for attract more new user/customers. However I do not think that bter needs a new design but I think they need someone with more knowledge for set up a secure (and real) cold wallet for the future.

Bistamp first refunded users then tried to attract more people :| Lin think only about self interests.. He is trying to save exchange by holding user's alt coins. They think if they woun't let us withdraw coins, they can reopen exchange like nothing happend and people will continue to trade there? Fact that alt coins fall in price due to raising btc do not bother them i guess. Although i still do not belive they will open withdraw not will ask for another week for "another design".

I don't know the real reason behind it, but the volume on bitstamp have actually been affected after the hack.

As for bitstamp, I still respect them for being able to refund the coins, and it doesn't really matter if they have come back.

Well thats not the reason you should start trusting bitstamp. They might just be un dissolvable. Meaning, that at any particular time, they are always holding a certain amount of coins, and might not be dissolvable if they sold all of them. So in the end it could all end as a ponzi, like MTgox was speculated to be after the hack.

[abyrnes81]

Just posted

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

Finally  a good news, I hope that I will be able to withdraw all my altcoins ASAP (after they will reopen). I am really very tired and I only want my altcoins, and obviously I won't use bter.com again (that's sure!).

[finlon]

@sherby, that might be true. I am not much aware of what MTGox did before.  Best thing to do then is not keep your coins on any exchanges/with any third party

[tee-rex]

Just posted

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

Finally  a good news, I hope that I will be able to withdraw all my altcoins ASAP (after they will reopen). I am really very tired and I only want my altcoins, and obviously I won't use bter.com again (that's sure!).

English translation of what is written in Chinese on the site right now:

We are deploying a new trading system, 100% cold wallet storage to solve security problems, faster trading engine, more user-friendly interface, more features. Stay tuned, BTER will return

For what it's worth.

[mishax1]

@sherby, that might be true. I am not much aware of what MTGox did before.  Best thing to do then is not keep your coins on any exchanges/with any third party

Here's a pretty solid theory on what happened on mt.gox - https://bitcointalk.org/index.php?topic=497289.0

[Cassius]

It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.