Post
Topic
Board Archival
Re: closed
by
eyebuyyourcoinz
on 25/03/2014, 06:44:50 UTC
When I traded BTC for an alt coin yesterday, I knew I was losing BTC and overpaying due to inflated ask prices but I thought that by doing so, I can then sell the alt on another exchange or hold for the future instead of losing stuck BTC like Gox victims did.   A day later there's an announcement:

Quote
The migration of the account balances has been completed, deposits and withdrawals are activated again...
Update
We will regularly publish updates here on the number of accounts affected

All in all we have a bit over 90,000 registered users and accounts. Due to the freeze and the subsequent distribution of the available funds, a large number of accounts have been restored to their rightfull account balance, some unfortunately remain frozen for the time being and will over time be released as and when funds become available. Here the number of accounts with a frozen balance:

As of 25. March 2014:
BTC: 355 accounts
LTC: 1,563 accounts
TRC: 77 accounts
FTC: 42 accounts


Now alt coin prices are back down to normal, so even if I want to trade back to BTC, I lose money again.   I didn't expect withdrawals to be reenabled so fast...did some traders have inside knowledge that the freeze on most accounts would last just 1 day and they took advantage of this, or did Vircurex management profit not only from the increased trading volume's fees, but also to buy up discounted BTC?