Bter.com doing a fractional reserve scam? ("Waiting for balance...")
Just signed up to bter.com because the exchange looked quite legit.
As always with cryptocurrency services, I tried them out with a small amount first before sending in more money.
Exchanged some BTC (Bitcoin) for XMR (Menero) and tried to withdraw the XMR. And know what? It didn't work!
Seriously guys, is there even ONE exchange that doesn't hold your funds hostage?!
On Bter's XMR withdrawal page my withdrawal is listed with the following status: "Waiting for balance..."
To me this looks like a fractional reserve scam, i.e. Bter doesn't have enough XMR in their pockets to meet all [actual/possible] withdrawal requests.
Opened a ticket on their support page and will report any news on that issue the same way I did with my (now solved) Poloniex problem: https://bitcointalk.org/index.php?topic=1261707.msg14163860#msg14163860
As always with cryptocurrency services, I tried them out with a small amount first before sending in more money.
Exchanged some BTC (Bitcoin) for XMR (Menero) and tried to withdraw the XMR. And know what? It didn't work!
Seriously guys, is there even ONE exchange that doesn't hold your funds hostage?!
On Bter's XMR withdrawal page my withdrawal is listed with the following status: "Waiting for balance..."
To me this looks like a fractional reserve scam, i.e. Bter doesn't have enough XMR in their pockets to meet all [actual/possible] withdrawal requests.
Opened a ticket on their support page and will report any news on that issue the same way I did with my (now solved) Poloniex problem: https://bitcointalk.org/index.php?topic=1261707.msg14163860#msg14163860