Re: Blockchain.info - Are they really stealing people's BTC?

Quote from: NeuroticFish on Today at 08:41:27 AM

Quote from: davemichaelson on Today at 07:47:56 AM

I'm seeing a lot of posts about losing bitcoin on blockchain.info. It seems that everyone is ready to blame themselves, but is the company really running some kind of scam?

If they are, does anyone have an INFORMED opinion as to why customers would not be able to successfully take them to court or arbitration to recover their assets? FYI, "Blah blah blah, I bet they have T&Cs" is not an INFORMED opinion; a company can't use T&Cs to magically change theft into legal behavior.

1. They're blockchain.com now.
2. Any, but really any website has the potential to steal your money or data. Just imagine a developer replaces the page for a couple of minutes with one that saves your seed into their database.
3. Indeed, the chance for [2] is small and most of those crying they've got scammed probably accesses phishing sites - sites looking identical with the original, but on different domain, definitely saving the seed in the hacker/scammer's database.
4. blockchain.com T&C basically tells that you use their website on your own risk, so I don't think that anyone can have a case against them. They, officially, don't do anything wrong and they won't answer in court because one gave his seed to a phishing site. Keep in mind that anyone who gets the seed or private key can spend the funds and blockchain.com is not needed for that operation.

Thank you for your prompt response.

Certainly if someone accessed a different URL or gave their keys to someone through phishing, that is not the fault of Blockchain.com/.info.

But what I'm seeing on this sub is a lot of people claiming coins simply disappear from wallets.

And let me just emphasize again: T&Cs cannot make illegal behavior into something legal. If they're stealing coins or negligently failing to protect coins or negligently failing to protect their domain, that is all actionable. The only thing the T&Cs could do is force the customer to file suit in a specific court or to use arbitration; they can't change the fact that Blockchain has a duty to its customers.

I can't think of any other people field where people think, "Eh, I gave hundreds of thousands of dollars to someone and they claim it's now gone, but I should have been more careful."