BTER Unable to Repay Customers

[pawel7777]

http://www.coindesk.com/bter-unable-to-repay-customers-following-alleged-exchange-heist/

Defunct cryptocurrency exchange BTER claims it doesn't have enough funds to reimburse all its users, following an alleged seven-figure hack.

The Chinese exchange closed earlier this week, issuing a statement via its website that 7,170 BTC had disappeared from its offline wallet – around $1.75m at press time.

Speaking to CoinDesk, a BTER spokesperson claimed CNY and USD withdrawals would resume within a week. However, the company said it is still exploring different options to make all its customers whole, including selling the platform.

Any buyers?

[1715437192]

1715437192

[1715437192]

1715437192

[1715437192]

1715437192

[newIndia]

http://www.coindesk.com/bter-unable-to-repay-customers-following-alleged-exchange-heist/

Defunct cryptocurrency exchange BTER claims it doesn't have enough funds to reimburse all its users, following an alleged seven-figure hack.

The Chinese exchange closed earlier this week, issuing a statement via its website that 7,170 BTC had disappeared from its offline wallet – around $1.75m at press time.

Speaking to CoinDesk, a BTER spokesperson claimed CNY and USD withdrawals would resume within a week. However, the company said it is still exploring different options to make all its customers whole, including selling the platform.

Any buyers?

Like Mt. Gox ?

Any news about how the hack took place ? What they really meant by Cold Wallet ?

[BTCtalkScammerDetective]

Thats a shame to much of this going on now

[Abbey_j]

Chinese are having the new year, there won't be more details new before the end of Chinese new year.

[keyscore44]

Well that sucks, hardly used BTER and after all these hacks I'm just going to stick with well known exchanges (not that it guarantees they wont 'get hacked')

[irfan_pak10]

Well that sucks, hardly used BTER and after all these hacks I'm just going to stick with well known exchanges (not that it guarantees they wont 'get hacked')

As its already said many times that dont save your btc in exchange, because we dont have any idea when they will scam us any time they can scam his customers, read the topic of this thread: https://bitcointalk.org/index.php?topic=956738.0

[btc-facebook]

Defunct cryptocurrency exchange BTER claims it doesn't have enough funds to reimburse all its users, following an alleged seven-figure hack.

The Chinese exchange closed earlier this week, issuing a statement via its website that 7,170 BTC had disappeared from its offline wallet – around $1.75m at press time.

Speaking to CoinDesk, a BTER spokesperson claimed CNY and USD withdrawals would resume within a week. However, the company said it is still exploring different options to make all its customers whole, including selling the platform.

Will they get into jail for not paying back to customer ?

Well that sucks, hardly used BTER and after all these hacks I'm just going to stick with well known exchanges (not that it guarantees they wont 'get hacked')

I still save my most altcoin on POLONIEX & Bittrex

[pawel7777]

Will they get into jail for not paying back to customer ?

No idea how the Chinese law works in such matters. I reckon there will be some Chinese users who will report them for fraud. I'm guessing if authorities believe the hack was genuine, they might get away with it.

[admissions]

i did not use this but its incedible how much this is happening and its the only down fall that bitcoin has at the moment.

[ranochigo]

A cold storage shouldn't be hacked so easily. I highly suspect that it is a inside job. For a cold storage to be hacked, the RNG must first be compromised. If the RNG is indeed compromised, it implies that the exchange hasn't verified the source code themselves and risk customer's funds.

[keyscore44]

i did not use this but its incedible how much this is happening and its the only down fall that bitcoin has at the moment.

Fairly sure it's only temporary. Apart from the inside jobs it wouldn't be surprising if some of these hacks were by a certain 3-letter agency to disrupt bitcoin's adoption?

[feryjhie]

http://www.coindesk.com/bter-unable-to-repay-customers-following-alleged-exchange-heist/

Defunct cryptocurrency exchange BTER claims it doesn't have enough funds to reimburse all its users, following an alleged seven-figure hack.

The Chinese exchange closed earlier this week, issuing a statement via its website that 7,170 BTC had disappeared from its offline wallet – around $1.75m at press time.

Speaking to CoinDesk, a BTER spokesperson claimed CNY and USD withdrawals would resume within a week. However, the company said it is still exploring different options to make all its customers whole, including selling the platform.

Any buyers?

it really sad for all customer that save btc in the website

[unamis76]

Most probably no buyers. And that cold storage... Looks like the ice on that storage has been melting, not that cold after all.

Also, they apparently started allowing CNY, USD and NXT withdrawals, let's see how this goes.

[enryk]

BTER is back now. I see no message regarding it on the site. What happens , when people log in to the site. Can they withdraw their funds ?

[unamis76]

BTER is back now. I see no message regarding it on the site. What happens , when people log in to the site. Can they withdraw their funds ?

As they said on their twitter feed, they're working on withdrawals, starting with CNY, USD and NXT

https://twitter.com/btercom/status/568944687257530368

[readysalted89]

BTER is back now. I see no message regarding it on the site. What happens , when people log in to the site. Can they withdraw their funds ?

As they said on their twitter feed, they're working on withdrawals, starting with CNY, USD and NXT

https://twitter.com/btercom/status/568944687257530368

Thanks, Yeah saw their tweet right after posting this. Best to get your coins out of there

I tried withdrawing NXT but you can't withdraw them yet. You get a message saying "NXT withdrawal is disabled" when you try. The balances page only shows USD, CNY, and NXT and it looks like they will be the first withdrawals available as it says on twitter..

[bitcoinmar]

I believe like Mintpal Bter is also not paying any one we all lost money and Bter team enjoying new year celebrations  

[calme]

Hope you're happy to see your hard-earned USD/Euro/CNY going toward ppl enjoying quality western wine along with some tiger penis and shark fin soup!

[deepestfear]

buyer if the news leads to a price decline, doubt it though

[uvt9]

a bit off-topic question: did Mintpal repay all their customer's fund ?

[BillyBobZorton]

Well that sucks, hardly used BTER and after all these hacks I'm just going to stick with well known exchanges (not that it guarantees they wont 'get hacked')

Anything can get "hacked" at this point. I would wait for Gemini to do trading. If Gemini gets hacked, it would be suicidal for Winklevoss twins.

[unamis76]

BTER is back now. I see no message regarding it on the site. What happens , when people log in to the site. Can they withdraw their funds ?

As they said on their twitter feed, they're working on withdrawals, starting with CNY, USD and NXT

https://twitter.com/btercom/status/568944687257530368

Thanks, Yeah saw their tweet right after posting this. Best to get your coins out of there

Yep, whoever has funds there, take them out ASAP...

a bit off-topic question: did Mintpal repay all their customer's fund ?

No, not all. Only the funds that were avaliable to V1 were possible to refund.

[cozytrade]

Resume 

USD withdrawals had been unable since the collapse of EGO pay hadn't they 

a BTER spokesperson claimed CNY and USD withdrawals would resume within a week.

[tee-rex]

Defunct cryptocurrency exchange BTER claims it doesn't have enough funds to reimburse all its users, following an alleged seven-figure hack.

The Chinese exchange closed earlier this week, issuing a statement via its website that 7,170 BTC had disappeared from its offline wallet – around $1.75m at press time.

Speaking to CoinDesk, a BTER spokesperson claimed CNY and USD withdrawals would resume within a week. However, the company said it is still exploring different options to make all its customers whole, including selling the platform.

Will they get into jail for not paying back to customer ?

Well that sucks, hardly used BTER and after all these hacks I'm just going to stick with well known exchanges (not that it guarantees they wont 'get hacked')

I still save my most altcoin on POLONIEX & Bittrex

Bittrex is good and pretty fast (unlike cryptsy), but you should know that poloniex lost around $50,000 in March last year because of a hole in their withdrawal system (users could withdraw their balance a few times leaving it negative).

[trafficolaa]

that is really bad news, i have 500k bitbay and 2.79 Btc into my bter account,
so it means i've lost all because of bter inside job hack drama.

[redsn0w]

that is really bad news, i have 500k bitbay and 2.79 Btc into my bter account,
so it means i've lost all because of bter inside job hack drama.

Maybe yes, maybe not. Try to wait a little bit and they will activate the withdrawal for the rest of coins.

[Hulk Hobo]

I didn't hold any BTC on BTER but my altcoin balances have been zeroed. I had about 3 btc worth of altcoins on there ...

[tee-rex]

I didn't hold any BTC on BTER but my altcoin balances have been zeroed. I had about 3 btc worth of altcoins on there ...

Did you look at your Balance page (under Account -> Balances)? I don't see my doges at the Trade page either, but I can still see my total funds estimation under Balances. Also my doge balance is shown under Interests. In fact, today I even got some interest on them which was added to my account.

[havecoch]

Well that sucks, hardly used BTER and after all these hacks I'm just going to stick with well known exchanges (not that it guarantees they wont 'get hacked')

Anything can get "hacked" at this point. I would wait for Gemini to do trading. If Gemini gets hacked, it would be suicidal for Winklevoss twins.

I doubt that would ever happen. BTER is however the thief themselves. Nothing explains a cold storage being hacked.

[tee-rex]

Well that sucks, hardly used BTER and after all these hacks I'm just going to stick with well known exchanges (not that it guarantees they wont 'get hacked')

Anything can get "hacked" at this point. I would wait for Gemini to do trading. If Gemini gets hacked, it would be suicidal for Winklevoss twins.

I doubt that would ever happen. BTER is however the thief themselves. Nothing explains a cold storage being hacked.

Get acquainted with the last year nxt robbery at bter. You will be greatly surprised. And stop talking in hackneyed phrases ("nothing explains a cold storage being hacked").

[tss]

i'm shocked.  i thought they would pay everyone back everything.  NOT

[tee-rex]

Who would their platfrom, even someone want to buy.
IT won't cover 7k BTC

Bter hot wallet got credited with 10 bitcoins again today and it now has 170 bitcoins. And we can only make assumptions and wild guesses about how many such hot wallets they actually have.

[ranochigo]

Who would their platfrom, even someone want to buy.
IT won't cover 7k BTC

And why some people still use BTER even they already NXT was stolen away

I guess everyone in the NXT hack got refunded, thus giving them an impression that they have the funds to compensate people after that hack. Also, since they had a cold storage in place, people would assume it's a bulletproof solution.

[tee-rex]

They had tweeted earlier today that they were looking for help in identification of the mixer. Can someone tweet to them , that its themselves they need to look at first.

That tweet has already got deleted. But you shouldn't worry, your offer had been made known to them, many times already.