Quote from: Passion_ltc on April 28, 2013, 05:14:07 PM

https://cryptonit.net/exchange/ltc/ftc

Everything works fine until now!

WRONG.
I initiated withdraw of coins from Cryptonit last night before I went to bed. 12 hours later, both my LTC and FC withdrawals are STILL "Transaction Awaiting Authorization"

Cryptonit is problematic, and people are going to get screwed because there's problems.

Quote from: galambo on April 28, 2013, 06:26:31 AM

Cryptonit directly uses the bitcoin "move" RPC function to manage his user accounts.

What does this mean for you?

mugen isn't keeping any accounting records of what his customers are doing. So if one of his exchanges has a bug, like his Freicoin exchange did, he cannot determine what amounts all of his accounts should have. Mugen's exchange had this same massive bug where he lost customer funds when the site was in beta. He was advised to implement his exchange using external accounting & logs.

Had mugen built his exchange so that it kept accounting records and logs he wouldn't have had any problems trading Freicoin and other coins. Unfortunately, even if someone wanted to make all of his depositors whole they couldn't do it because he doesn't keep the records necessary to pay people back.

I strongly recommend you stay very far away from cryptonit for ANY coin.