Bitafex.com and coinsmarkets.com stole my $18,000 worth litecoin
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You will never think it’s going to happen to you until it happens. Well it happened to me, due to me not doing my research first before putting money in.
This happened 2 weeks ago. There was a hype with ECA and I wanted to go in it, but that day we were going home and that will be an 8 hour drive and I know that there will be no internet signals or mobile signals along the way.
Lost 24 litecoins on coinsmarkets.com
So, the night before we travel, I quickly transferred my 24 litecoins to the exchange that was trading ECA which was coinsmarkets.com. Coinsmarkets.com was also the exchange that was on the coinsmaketcap.com and on the ECA website so I figured it would be a legit website to trade ECA.
Anyway, the coinsmarkets.com could not cope with the amount of people going into their website and crashed. Their website crashed before I made a trade but my litecoin is already there. I figured it is safe because they are saying that they are working on it.
I have been continually logging into their website hoping that it’s back up and running. 2 weeks on and their website is still down because it is still throwing an error. This time I can’t log in. I thought I am just putting my credentials wrong so I put in “lost password” as you should to make sure. Their website is saying emails sent but never receive emails.
Now I am getting worried, I think this is another scam and will probably lose my funds all together. I have contacted their support and their twitter account but no response yet.
Lost 24 litecoins on bitafex.com
Now this is a total scam website. I have posted already an article about this but I will just let you know how I got hooked into it.
When coinsmarkets.com crashed, I was told bitafex.com is trading ECA as posted on cryptocurrency facebook group. So before we head off on that day I quickly made an account with them and deposited my money 24 litecoins. Whenever we got to a next town with a mobile signal I checked bitafex.com and about the website when I learned that it was a scam website.
Too late for me my litecoins are already there. I tried to withdraw it and the first attempt say “user cancelled” which I did not. The second attempt is still “being processed” and it is 2 weeks now.
I already made a post or article warning others about bitafex HERE.
Will I ever recover my funds?
I don’t think I will ever get my funds back. It is still in the wallet addresses on the exchanges but if I can’t get access to the website or they are not allowing me to withdraw the funds then everything is lost.
Moral of the story
Always do your research. Don’t rush at anything in cryptoland especially if it involves your coins or money.
omg how it can happen its really a very big problem but the question is what we have to do to protect our funds any advice please
The only thing I can say is learn from my mistakes. Research first before you put your money in, if it looks dodgy hold off a little bit.
I have posted this bad experience of mine to warn others
Oh man, thank you very much for the warning.
you are welcome
Thanks for the heads up, hopefully a little bit of time will pass and you will be able to get your money back out, that is a bad situation sorry for your loss.
I hope i get my funds back from coinsmarkets, at least there is a news that they are working on it and not taken off with the funds yet. But bitafex is a complete loss.
Anyway, this experience now made me more cautious transferring funds to a not so well known exchanges.
Oh, man. Sorry to hear. I would keep harassing them, the reason for not responding might be due to the fact other people have money tied up as well and are equally as mad.
What is it with cryptocurrency exchanges and shitty support? Bittrex is the same as is Bitfinex and almost every other exchange. I've had a great experience with Binance, but that's probably because I haven't needed to contact their support.
Unrelated, but nice to see another Aussie on here (I am from Queensland). I've just given you a follow on here. Good luck with getting your coins back mate and keep us updated.
Exchanges that are not well known are not as big so when there are surge of users want to buy coin it crashes. There are also exchanges that are purely phony and bitafex.com is exactly that.
There are plenty of us Aussies here in steemit if you go to this POST by @choogirl, you could ask @choogirl to be properly introduced to the Australian Steemians here.
Good content and quite an interesting read. Thanks a lot.
well thank you very much
Awesome work! I`ve re-steemed!
All Steemians should support as much as they can
Thank you for your wonderful work 😊😊
thank you very much
This is one of the main risks of unregulated cryptocurrency exchanges.
true true
You got a 4.59% upvote from @postpromoter courtesy of @skyme! Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
I hope you get back this ... :(
I hope so too
Make a new post soon ... if you not get...ok .
Thanks man for the warning