Post
Topic
Board Service Discussion
Re: Instawallet claim process
by
Herodes
on 09/04/2013, 15:30:41 UTC
UPDATE

We are currently developing and preparing the online claim form. 
We appreciate your patience as we work with limited resources. 
We regret not being able to do more as Instawallet was a free service (zero fees) and could not pay for additional resources. 
However, we would like to reassure you that we will have the claims processed in due time, by the end of the initial 90-day period. 
The claim form is schedule for delivery by Friday, April 12th.

Any particular reason you will not handle claims on an ongoing basis. Did you at all read my post ?

There are absolutely no excuses at this point, your reputation is at stake. Personally, at this point, I will not use or recommend any services that you're involved in.

Watching.
Didi you care to read my point about resources ?
We ran this services at our own expenses and pledged to refund everybody (at least those under 50 BTC: the very few people who stored more will be handled on a case by case basis): what more can we do ?


Answer the questions posted in this thread. I will repeat them here:

Questions from pyedpyper:

1. Please state your full real name and your current position with Paymium (and whether you are a shareholder, director or employee).

2. Please confirm that you have formal authorisation from the board of Paymium to be communicating on behalf of the company on this forum.

3. Please provide the case number and filing date of the report you state Paymium has filed with the police.

4. Please provide Paymium’s formal contact details: office address and telephone number.

5. Please state whether the alleged hack resulted in the loss of coins under Paymium’s control. A simple YES or NO is adequate at this point. If you wish to elaborate you may, but I am not requesting that.

6. If coins were lost please state if these happened by (A) the hacker accessing Instawallet accounts directly via their URLs, or (B) by accessing other “internal” wallets controlled by Paymium, or (C) by some other method.

7. Your comments thus far suggest that the alleged hacker has acquired some or all of the URLs for accessing Instawallet user wallets. Please confirm whether this is the case or not.

8. If the answer to (7) is YES, then please state if these URLs were stored in encrypted form or not.

9. If the answer to (7) is NO, then please state why there needs to be a claims process at all.

10. Your stated claims process on the Instawallets site states: “If several claims have been filed for the same url, we will process those claims on a case by case basis, under the presumption that the claim we received first belongs to the legitimate balance holder.”. Please will you describe the logic of that? If a hacker has the URLs then surely he can file a claim as quickly as any legitimate account holder? And if you’re assuming that the first claim is likely to be the more “legitimate” one then why wait 90 days? Your logical methodology makes little sense and I would appreciate clarification.

11. You also state that “Claims for wallets that hold a balance greater than 50 BTC will be processed on a case by case and best efforts basis.” Please clarify why the “arbitrary” figure of 50 BTC has been chosen. This comment suggests that you have lost a certain number of coins and need to limit your total payout to what you have left. Please confirm if this is how it is, or if there is another reason for this figure?

12. From your communications it is clear that Paymium’s servers were hacked and this affected all your services – Instawallet, Paytunia and Bitcoin Central. It also seems evident that you suffered financial loss of some kind. Please explain how that loss directly affects Instawallet clients and not Paytunia and Bitcoin Central clients.

At the moment, to restore your reputation - you should handle cases more swiftly - a 90 day window is far too much. Would you personally be happy if your own funds was tied up that long, with a complete uncertainty as to how much you'd get back ?

Also, you could have people help you with these issues if you have lack of resources.