Bter hacked. PTS, bitassets withdrawal successful. Share you experience.

[kokojie]

https://twitter.com/btercom/status/574946304075264004

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

heh, so why didn't they implement this "safest ever cold wallet solution" before the hack. Only took them less than 2 weeks to develop this.

[Ander]

https://twitter.com/btercom/status/574946304075264004

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

That nice but...now the site is again just displaying a message and wont let us go to the bonus page.
No more nice high interest rate on BTS we were getting for the past three weeks, because it was locked in at the rate from the high volume trading day right before bter went down. 

[xeroc]

Woops

[svk]

https://twitter.com/btercom/status/574946304075264004

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

in the meantime BTS 0.7.0 is due 3 days .. may be a coincidence  

Don't you mean DVS 0.7.0 was due 4 days ago?

[xeroc]

https://twitter.com/btercom/status/574946304075264004

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

in the meantime BTS 0.7.0 is due 3 days .. may be a coincidence  

[fundomatic]

https://twitter.com/btercom/status/574946304075264004

We are deploying our new trading system with the safest ever cold wallet solution. we will finish it in 24-48 hours.

[Riverhead]

Rumor has it they shut down the whole operation but marketing guys were given a most kind BTS severance bonus.

Zing!

Sent from my Timex Sinclair

[gamey]

Rumor has it they shut down the whole operation but marketing guys were given a most kind BTS severance bonus.

[mf-tzo]

Thing is, if they really somehow return all the money lost, they would get very good reputation and may continue business. In other cases, they may close the door.

Agreed. I don't think that Bitstamp lost many of each clients because of the way they handled things..Bter should better hurry up initiate some withdrawals soon and make a couple of statements.

[btcxyzzz]

Thing is, if they really somehow return all the money lost, they would get very good reputation and may continue business. In other cases, they may close the door.

[jnporter099]

If Bter thinks they can retain the majority of their customer base, they are full-on delusional. Would anyone here who has lost more than a couple of Bitcoins ever trade on Bter again, having just their word that they "fixed" the security holes in their platform?

[konelectric]

Bter.com tweet https://twitter.com/btercom/status/573043042329882624

Sorry for the long wait. We will solve the security issue completely and get all altcoins online and enable the withdrawals in a week.

Edit: added 'quotes'

Altcoins yes. What about Bitcoins?

They lost ALL their Bitcoin, hot+cold wallet. What do you expect? Bitcoin balances are totally screwed. Only your altcoin balance is safe (IF they keep their promise of allow altcoin withdrawals in a week).

I guess you can't learn unless you lose first.

[kokojie]

How can they re-enable trading without reimbursing all customers who lost funds first?

It seems that re-enabling trading is their only hope of creating some funds with which to pay back customer losses.

Its unclear whether they lost all their BTC or just a significant portion of it.  If they lost say, 50% of their BTC, then they could put the other 50% of BTC back into customer accounts after repairing the security flaws, and allow trading/withdrawals.

I'm pretty sure that wouldn't be acceptable for the vast majority of users. Isn't it quite likely disgruntled users will form a class action lawsuit against them, forcing them to sell off their assets to cover their customer's losses?

Well, China doesn't have "class action lawsuit", you'll have to do it individually.

[Ander]

Their only asset is their customer base. 

The only way they can ever pay back the lost funds is if they resume trading and manage to keep a lot of their customer base somehow, and then continue to grow in the future.  If so, they can gradually repay at least some of the lost BTC over time.

[Riverhead]

What assets? It's probably like 3 guys and a few VPS accounts . Sadly I think opening back up for business is their, and our, best hope. They could issue bterBTC in accordance to everyone's balance at time of hack and those would slowly become real IOU's as revenue was generating.

Basically BTER = Greece and we are forced to opt-in to the gutted business in hopes of salvaging more of our losses. While I agree they aren't our losses but their loses and they owe us the money the reality of the situation is you can't get blood from a stone so we have to work with what we have.