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

[mishax1]

I have 6.6BTC in my bter account separated in many coins (BTS, NMC...). Someone wants to buy my account for only 4.5BTC Too tired to look at the screen all the time. ((

I don't know man, honestly it sounds tempting but there is just to much of the risk at the moment to lose 4,5 BTCs. I think that this is too much..

For now it's like buying GOX coins, I'll pay 0.66BTC for that  

Sigh...
I have a hope because all my money is separated in Altcoin, not BTC. But I don't know why they do not allow me to withdraw my Altcoin (

Maybe Satoshi is willing to buy the exchange with all the funds included and kill all the Altcoins on the exchange 

Seriously, maybe there is a potential buyer..

[abyrnes81]

What that fuc*, I still can't withdraw my coins. What the hell? I think they are starting to scam us.

[Kn_os]

yeh 3 days same picture, even promissed nxt withdraw still not working.
Hope f.. scums not just buying time to run away.

[redsn0w]

yeh 3 days same picture, even promissed nxt withdraw still not working.
Hope f.. scums not just buying time to run away.

I hope they will not run as mintpal did in the past, at least pay the altcoins to all the "costumers" and after close (because I don't think they can pay all the 7k bitcoins).

[tee-rex]

yeh 3 days same picture, even promissed nxt withdraw still not working.
Hope f.. scums not just buying time to run away.

The only plausible explanation for the delay (apart from the obvious one, i.e. that of scamming) is that they are negotiating terms of surrender, either themselves to an investor, or the robber to return the stolen funds. As I know, the August nxt robbery also took some time to get resolved (though the exchange didn't cease operations back then).

Nevertheless, if I lived in China, I would have already taken legal measures to call for reimbursement of my funds by the exchange.

[Kn_os]

yeh 3 days same picture, even promissed nxt withdraw still not working.
Hope f.. scums not just buying time to run away.

The only plausible explanation for the delay (apart from the obvious one, i.e. that of scamming) is that they are negotiating terms of surrender, either themselves to an investor, or the robber to return the stolen funds. As I know, the August nxt robbery also took some time to get resolved (though the exchange didn't cease operations back then).

Nevertheless, if I lived in China, I would have already taken legal measures to call for reimbursement of my funds by the exchange.

That's all has no relation with 5-6k btc worth altcoins still holded by them. Nothing prevent them to open withdraw, nothing, exept fact they just not gonna do it.. I already forgot about my btc lost there, but i want my doges and ltc!
No updates, no dialog, support stop answer on mails and online support just auto disconnect session, more time pass, less chance to return money..

[tee-rex]

yeh 3 days same picture, even promissed nxt withdraw still not working.
Hope f.. scums not just buying time to run away.

The only plausible explanation for the delay (apart from the obvious one, i.e. that of scamming) is that they are negotiating terms of surrender, either themselves to an investor, or the robber to return the stolen funds. As I know, the August nxt robbery also took some time to get resolved (though the exchange didn't cease operations back then).

Nevertheless, if I lived in China, I would have already taken legal measures to call for reimbursement of my funds by the exchange.

That's all has no relation with 5-6k btc worth altcoins still holded by them. Nothing prevent them to open withdraw, nothing, exept fact they just not gonna do it.. I already forgot about my btc lost there, but i want my doges and ltc!
No updates, no dialog, support stop answer on mails and online support just auto disconnect session, more time pass, less chance to return money..

I'm not overly optimistic myself (rather playing bter's advocate here), but if they were going to continue operations in the future (read being able to get the stolen bitcoins back or refund them somehow in the foreseeable future), allowing the withdrawals right now without being able to pay out the bitcoin debt would not be a very wise decision.

I don't know what is happening at bter.

[Kn_os]

I'm not overly optimistic myself (rather playing bter's advocate here), but if they were going to continue operations in the future (read being able to get the stolen bitcoins back or refund them somehow in the foreseeable future), allowing the withdrawals right now without being able to pay out the bitcoin debt would not be a very wise decision.

I don't know what is happening at bter.

I don't know what's going with bter too but they or either scamers or idiots.

I can remember at least two exchange which lost all btc:
Let's look on vircurex, they just holded btc and ltc balance, and promissed to pay it with fee, sure they never could do it (amont was too big) but they didn't close exchage and although right now them volume is almost 0 this exchange still working, in almost 2 years after hack.
C-cex they lost all btc in mounth after opening, they as well just null btc users' balance and promissed to pay it with fee. They still didn't pay out full dept but they are working and trading.

Poloniex is proly bad example since they lost only 50 btc and payed it back already.


What prevent bter to null our btc balance, put it on hold, cancel all orders on btc markets and run exchange like a usual? There are lot of cny markets and a lot of cny on exchange. They could open btc markets even with new deposited btc and they proly could save customers if people would see that exchange operate like a usual :|

PS. I do not belive that they are such idiots, who are killing exchange themself.. i see as they do not care about exchange already and just buying time

[tee-rex]

I'm not overly optimistic myself (rather playing bter's advocate here), but if they were going to continue operations in the future (read being able to get the stolen bitcoins back or refund them somehow in the foreseeable future), allowing the withdrawals right now without being able to pay out the bitcoin debt would not be a very wise decision.

I don't know what is happening at bter.

I don't know what's going with bter too but they or either scamers or idiots.

I can remember at least two exchange which lost all btc:
Let's look on vircurex, they just holded btc and ltc balance, and promissed to pay it with fee, sure they never could do it (amont was too big) but they didn't close exchage and although right now them volume is almost 0 this exchange still working, in almost 2 years after hack.
C-cex they lost all btc in mounth after opening, they as well just null btc users' balance and promissed to pay it with fee. They still didn't pay out full dept but they are working and trading.

Poloniex is proly bad example since they lost only 50 btc and payed it back already.


What prevent bter to null our btc balance, put it on hold, cancel all orders on btc markets and run exchange like a usual? There are lot of cny markets and a lot of cny on exchange. They could open btc markets even with new deposited btc and they proly could save customers if people would see that exchange operate like a usual :|

This question is pretty easy to answer. Since they didn't lose all bitcoins (and they know that we know this), thus they can't just zero all their clients' btc balances. Add to this the fact that we pretty much don't know what they have in their stash. We know just about one bter hot wallet which holds 170 bitcoins (and a few smaller ones).

Just checked, it now has 180 bitcoins!

[eneloop]

BTW: If they are close to bankruptsy they are not allowed by law to give money/coins back to a single or a group of persons ("They lost BTC only, so all others should get FIAT/altcoins back." -> NO). It doesn't matter if they lost BTC, LTC, FIAT or something else. In the situation of a bankruptsy they will add their whole assets and this total is divided to all creditors.
I think they check their liquidity at the moment, also in case of an exchange run.

[tee-rex]

BTW: If they are close to bankruptsy they are not allowed by law to give money/coins back to a single or a group of persons ("They lost BTC only, so all others should get FIAT/altcoins back." -> NO). It doesn't matter if they lost BTC, LTC, FIAT or something else. In the situation of a bankruptsy they will add their whole assets and this total is divided to all creditors.
I think they check their liquidity at the moment, also in case of an exchange run.

I remember some local shitty exchange had around a few hundred thousand dollars in orders (denominated in local currency). Bter is a few orders of magnitude bigger, so their dollar funds should be in the millions (if not tens of millions). 7K btc is a huge sum indeed, but I honestly hope that the theft of so much money still wouldn't kill them, unless they are deliberately going to shut down the exchange, of course.

[redsn0w]

BTW: If they are close to bankruptsy they are not allowed by law to give money/coins back to a single or a group of persons ("They lost BTC only, so all others should get FIAT/altcoins back." -> NO). It doesn't matter if they lost BTC, LTC, FIAT or something else. In the situation of a bankruptsy they will add their whole assets and this total is divided to all creditors.
I think they check their liquidity at the moment, also in case of an exchange run.

I remember some local shitty exchange had around a few hundred thousand dollars in orders (denominated in local currency). Bter is a few orders of magnitude bigger, so their dollar funds should be in the millions (if not tens of millions). 7K btc is a huge sum indeed, but I honestly hope that the theft of so much money still wouldn't kill them, unless they are deliberately going to shut down the exchange, of course.

In this case the "law" can help only with the FIAT money, if they run away and choose to scam all the customers also the altcoins +bitcoins will "disappear" (they will go). This is a really bad and difficult situation for all...

[zazarb]

I do not believe that bter will alowe withdraw altcoin, but reset btc

[Cassius]

Would be nice to have someone Chinese check it, but there appears to be a new post (from 24/2) on their weibo site:

在各方的帮助下，通过区块分析，我们已经查清盗取的部分资金流向，正在联系相关服务平台协助调查。后面的追查仍然会非常艰辛，但是我们会继续努力。我们正在与各方合作通过一切可行的途径补偿用户。即使资金无法追回，我们也会准备全额赔付的方案。我们将很快开通CNY提现。再次感谢各位的鼓励和支持。 

Google translate:
With the help of the parties , through the block analysis, we have to identify the part of the flow of funds stolen, contact the relevant service platform is to assist the investigation. Traced back will still be very difficult, but we will continue our efforts. We are working with the parties by way of compensation for all possible users. Even if the funds could not be recovered, we will prepare the full amount of the program. We will soon open CNY withdrawals. Once again, thank you for your encouragement and support.

So no new news about withdrawals, just a reiteration of their previous posts.

[tee-rex]

BTW: If they are close to bankruptsy they are not allowed by law to give money/coins back to a single or a group of persons ("They lost BTC only, so all others should get FIAT/altcoins back." -> NO). It doesn't matter if they lost BTC, LTC, FIAT or something else. In the situation of a bankruptsy they will add their whole assets and this total is divided to all creditors.
I think they check their liquidity at the moment, also in case of an exchange run.

I remember some local shitty exchange had around a few hundred thousand dollars in orders (denominated in local currency). Bter is a few orders of magnitude bigger, so their dollar funds should be in the millions (if not tens of millions). 7K btc is a huge sum indeed, but I honestly hope that the theft of so much money still wouldn't kill them, unless they are deliberately going to shut down the exchange, of course.

In this case the "law" can help only with the FIAT money, if they run away and choose to scam all the customers also the altcoins +bitcoins will "disappear" (they will go). This is a really bad and difficult situation for all...

I know this, but if their altcoin assets amount only to a lesser part of their USD/CNY reserves, it doesn't make much sense to run away with just altcoins, since many bter USD/CNY clients traded in altcoins as well (they will be angry), and this would very likely crash the altcoins markets.

[tee-rex]

Would be nice to have someone Chinese check it, but there appears to be a new post (from 24/2) on their weibo site:

在各方的帮助下，通过区块分析，我们已经查清盗取的部分资金流向，正在联系相关服务平台协助调查。后面的追查仍然会非常艰辛，但是我们会继续努力。我们正在与各方合作通过一切可行的途径补偿用户。即使资金无法追回，我们也会准备全额赔付的方案。我们将很快开通CNY提现。再次感谢各位的鼓励和支持。 

Google translate:
With the help of the parties , through the block analysis, we have to identify the part of the flow of funds stolen, contact the relevant service platform is to assist the investigation. Traced back will still be very difficult, but we will continue our efforts. We are working with the parties by way of compensation for all possible users. Even if the funds could not be recovered, we will prepare the full amount of the program. We will soon open CNY withdrawals. Once again, thank you for your encouragement and support.

Interpretation from Chinese follows...

With the help of the parties, through the block analysis, we have to identify the part of the flow of funds stolen
We knew right from the start who had stolen your money

Traced back will still be very difficult, but we will continue our efforts
Don't run after us right now

We are working with the parties by way of compensation for all possible users
You can say bye-bye to your money

Even if the funds could not be recovered, we will prepare the full amount of the program
Just give us more time to cover our tracks

We will soon open CNY withdrawals
Somebody has sued us and we are going to pay him off

Once again, thank you for your encouragement and support
Your money made us happy

[zazarb]

Would be nice to have someone Chinese check it, but there appears to be a new post (from 24/2) on their weibo site:

在各方的帮助下，通过区块分析，我们已经查清盗取的部分资金流向，正在联系相关服务平台协助调查。后面的追查仍然会非常艰辛，但是我们会继续努力。我们正在与各方合作通过一切可行的途径补偿用户。即使资金无法追回，我们也会准备全额赔付的方案。我们将很快开通CNY提现。再次感谢各位的鼓励和支持。  

Google translate:
With the help of the parties , through the block analysis, we have to identify the part of the flow of funds stolen, contact the relevant service platform is to assist the investigation. Traced back will still be very difficult, but we will continue our efforts. We are working with the parties by way of compensation for all possible users. Even if the funds could not be recovered, we will prepare the full amount of the program. We will soon open CNY withdrawals. Once again, thank you for your encouragement and support.

Interpretation from Chinese follows...

With the help of the parties, through the block analysis, we have to identify the part of the flow of funds stolen

We knew right from the start who had stolen your money

Traced back will still be very difficult, but we will continue our efforts
Don't run after us right now

We are working with the parties by way of compensation for all possible users
You can say bye-bye to your money

Even if the funds could not be recovered, we will prepare the full amount of the program
Just give us more time to cover our tracks

We will soon open CNY withdrawals
Somebody has sued us and we are going to pay him off

Once again, thank you for your encouragement and support
Your money made us happy

Do not be a pessimist!Leave people hope

[tee-rex]

CNY withdrawals are enabled now. USD and NXT presently not. Don't lose your time guys if you happen to have CNY balances at bter, rats are already running!

[hoju2k]

I have 0.20 CNY and no way to withdraw it. This is my gift to you 

[Cassius]

I have 0.20 CNY and no way to withdraw it. This is my gift to you 

Big spender. You can keep my 1 NXT too.