Bitalo's lead developer, the guy who's responsible for the website, is the same guy who developed, and administrated Bitmarket.

So either he's incompetent or I'm right and he's a scam.

In both cases reasons enough not to trust Bitalo. It's certainly not a safe place to store bitcoins.

Have a look at the link below.

http://www.reddit.com/r/Bitcoin/comments/14v2fq/anyone_knows_whats_going_on_with_bitmarketeu/
https://bitcointalk.org/index.php?topic=5441.500
https://bitcointalk.org/index.php?topic=129803.0


And this is what is says on the startpage of bitmarket

http://bitmarket.eu/

So the whole bitmarket team went over to Bitalo... Goody.

And for the people who speak/read Dutch (or Dainish I think, maybe), here's something about the account being frozen but the amount stored still shows. He lost more then 20 btc ($20000).

http://www.bitcoinspot.nl/forum.html?func=view&catid=4&id=155

The site still exists indeed, and one can still ogon and SEE his/her credit..  but one cannot withdraw. The administrator (Marciej Trebarc) promisses to refund the outstanding amount... but in euros and what the coins were worth 10/20 euro a piece.

So let's make a quick calculation. Bitmarket traded, according to their own info, 200000 btc. It opened in 2011 and closed down in 2012.

It is safe to assume that at least 2% of that 'floating' amount of 200000 btc got frozen... 4000 btc... $4000000... So either mr. Trebarc and his team that he brought along, are the kings of all bungles or they're all very rich jong men planning on getting even richer.