Post
Topic
Board Scam Accusations
Re: C-Cex Has Frozen Your BTC! Not to be Trusted
by
c-cex
on 25/02/2014, 09:17:29 UTC
It's nice that lojack is trying to return the funds, but let's be clear: all the funds will never be returned. They can't be, not after what he did. Specifically, buying DRK up to 0.008 with a volume of 104K DRK, and then selling DRK on Poloniex for less than one fourth that amount (how many were sold and at what prices?) means if he basically "stole" 310 BTC we're looking at about one third to one fourth being returned, right?

It's great that he's willing to return what he can, but basically C-CEX lost at least 200 BTC due to a flaw in their code. Which is pretty freaking crazy -- how do you go live with code that has that big of a flaw? It sounds like lojack isn't even a "hacker" and simply had a deposit show up with the wrong amount? Anyway, C-CEX does how much volume? If they did 1000 BTC per day (and I don't think they do!) that would mean roughly 4 BTC in income off 0.2% trading fees (0.2% on the buyer and seller). About 40 days then to recover 200 BTC? Hopefully they stick it out.

I personally have a hold of 6+ BTC that I'm waiting to see what happens. I sold DRK at prices between 0.0025 and 0.003, which wasn't that far off the mark before all this craziness. That would be either ~2.5K DRK or ~6+ BTC. Guess I'll just have to pray it all works out.

No, first - we will reverse DRK transactions made by high rates so it will not be 300 BTC but less. Second - flaw made this possible were fixed fast. Third - yes we will not be refunded in full - but we are going to refund customers in full by our own funds.

And Again - I agree this happened by our fault. And we will compensate harm.