Quote from: linkandzelda on May 10, 2014, 01:10:54 PM

Quote from: coinfello on May 10, 2014, 12:49:44 PM

is cryptorush talking about paying back users there coins they lost or in btc? as i presume they still hold coins like rubycoin etc as they where not "lost", also how long does it take a team to create a functional website, been like 6 weeks or so now, very long time in crypto world, i have lost so much with cryptorush its been so disheartening!

From what it says in the Debt Management Plan some coins were lost from a second attack (this wasn't done when I was in charge, so I don't have the details). They will pay back whatever they can I guess, BTC and alt coins included, though the plan said that it will be paid back in BTC at a market rate. Which market rate I don't know.

And yes, 4-6 weeks is a very long time for a whole team to make a new site. I made the original site pretty much alone in 2.5 weeks... But hey give them time I know they are working on it. Sorry that I don't have any more concrete information than this.

Thanks for the detailed info.

Now,.. don't you think that what you have answered could have been told and explained from the very beginning? That would have avoided a lot of the hurtful things posted either by me or others, as well as give some closure, which is always needed in a situation like this, this world is in it's infancy as many have no idea about the crypto world or the currency in general, to start this way in this business it destroys confidence in many and this world will surely die a slow death if continued the same way.

If wallets were kept outside as i keep mines, many of these issues would have never taken place. Trading could have taken place virtual and withdrawals would have taken a little longer, but overall the damage would have been limited.

I suggested to the management after the first incident, that this was an inside job, it was impossible that only Crypto Rush was being targeted while the rest of the exchanges weren't.

The 1st incident for me was not the hacking part, but the skimming part, which had to be done by a worker, as i had multiple screens opened i noticed that once i refreshed the page 0.02 BTC was missing without any trades pending, and another occasion of 0.016, that is when i realized that someone is taking small amounts from the top thinking it may not be noticed, doing that to multiple accounts will add to a significant amount but go un noticed to many as it was small fractions.

I then suggested that if we are not allowed to withdraw our BTC and LTC as well as Potcoins, mind as well trade arbitrage with our coins while we trade virtual, as long as the site kept track of such transactions all would have been well.

In desperation people started buying whatever they could in order to get out, that caused prices for useless coins to rise in value fast and very high compared to other exchanges, that would have been an opportunity for the exchange to bring coins from the outside and sell to the buyers (us) while alleviating the inflated value of those coins, and making profit at the same time.

This exchange destroyed my personal business as i was selling Gh/s on Ebay at the time, this incident pushed me back 5 months in business all together.

And to answer your question... yes you could have opened another exchange under a different name and lure people in if Crypto Rush would have been opened with intent to scam.