Report of C-CEX situation with DRK because of feb, 23 accident.

darkcoinz

New Member
Jul 2, 2014
13
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"intended"? how is that? or you just trolling?
Mate intended is not an offensive word. You should at least use a translator if you cannot understand English before posting.
Again straight from google

intended
ɪnˈtɛndɪd/
adjective
  1. 1.
    planned or meant.

    You planned and meant to make profit by selling us coins that didn't exist.
    Please explain why you think that isn't exactly fraud
 
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c-cex

New Member
Mar 27, 2014
27
2
3
Mate intended is not an offensive word. You should at least use a translator if you cannot understand English before posting.
Again straight from google

intended
ɪnˈtɛndɪd/
adjective
  1. 1.
    planned or meant.

    You planned and meant to make profit by selling us coins that didn't exist.
    Please explain why you think that isn't exactly fraud
Now I'v got what You mean. Sorry for misunderstanding.
There was no plan to sell non-existing coins. There was plan to pick up volumes to make possible trading with discrepancy in wallet and slowly fill that discrepancy from fees. "Hot/Cold" storage works same way. Exchange has coins for withdrawals in "hot" wallet. And it is usually enough to fill daily withdrawals. But when something makes people to withdraw massively - coins moved from cold storage to hot.
 

Centurion

Member
May 30, 2014
48
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The way you approached this situation is wrong to say the least, but I'm not here to say what a terrible job you have done up until now. I am going to say that you will not get the volume to do what you propose in any reasonable time frame, nor will you get a large number of investors with this "issue" hanging over your head.

I want to see these people get their coins back, so I am going to offer a simple solution. Start a voting process to add new coins to your exchange by accepting BTC or DRK for votes (who would send you DRK at this point IDK). People love to vote, and if you do this right you can also get new traders and extra volume, and pay everyone back more quickly.

Constantly post to every BCT coin thread you are taking votes on, tweet it up, post on fb, etc., etc. Sitting around waiting will not solve your problem; you need to get proactive. I would suggest that if you do go this route you handle it with a lot more finesse than what we've seen so far.
 
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c-cex

New Member
Mar 27, 2014
27
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The way you approached this situation is wrong to say the least, but I'm not here to say what a terrible job you have done up until now. I am going to say that you will not get the volume to do what you propose in any reasonable time frame, nor will you get a large number of investors with this "issue" hanging over your head.

I want to see these people get their coins back, so I am going to offer a simple solution. Start a voting process to add new coins to your exchange by accepting BTC or DRK for votes (who would send you DRK at this point IDK). People love to vote, and if you do this right you can also get new traders and extra volume, and pay everyone back more quickly.

Constantly post to every BCT coin thread you are taking votes on, tweet it up, post on fb, etc., etc. Sitting around waiting will not solve your problem; you need to get proactive. I would suggest that if you do go this route you handle it with a lot more finesse than what we've seen so far.
Thank You for suggestions.
We also very much wanting to make people get their coins back.
We have voting for months already: https://c-cex.com/?id=vote with free and BTC votes. Earning is not big. For all time we was able to collect 4BTC.
Sitting around? - noway. Working all the time to get volumes. If You compare today's c-cex and 2 months before You will see significant difference.
 

acidburn

Active Member
May 26, 2014
467
175
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I suggest those that are really upset to file a suit, the owner, in a worse case would go bankrupt and lose the site and reputation. Whilst those he owes money to would see them returned when the asset are sold off.

I don't wan to see this happen! And I'm sorry to say but it doesn't look likely that your coins will be returned any time soon.

I have to give credit to the site owner for owing up and putting the wrongdoings out there! I think he's got the right attitude and is attempting to correct his wrongdoings. I do however, think this will take a long time to resolve and posting here about it and throwing the book against him won't get the issues resolved.

How about, those that he owes money to work together to resolve this? Or, why doesn't the site owner provide some other incentive? I don't know, perhaps a share in the profits from the site? Or even a share in the site?
 

mwall

New Member
Jul 10, 2014
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C-CEX,
First I'm really disappointed on how this is handled. Your explanation above does not make things better. Especially after you have started to pay me back and for a month now have promised more. Then suddenly you basically cut off communication with a link to this forum and tell me to go here to discuss, and give you options on what to do? Why do I or anybody else need to tell you what to do? If you are in debt you need to pay it back. If that means selling your site or whatever. Then so be it. Pay the people back. However you need to do it I don't care just do it like you say you are.

Telling people that you will pay back when business is better does't cut it. Give us a plan! Don't tell us to give you options. At this moment I don't think you are going to ever pay us back. And whoever reads this is saying the same thing. One thing you can start doing is listening to the options that people have brought forward to you. YOU need to keep the people updated weekly on what's going on and the progress you have made. We shouldn't have to take the time out to chase you down. If anyone wants to see my communication with Support I will be happy to post it. Just message me.
 

c-cex

New Member
Mar 27, 2014
27
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C-CEX,
First I'm really disappointed on how this is handled. Your explanation above does not make things better. Especially after you have started to pay me back and for a month now have promised more. Then suddenly you basically cut off communication with a link to this forum and tell me to go here to discuss, and give you options on what to do? Why do I or anybody else need to tell you what to do? If you are in debt you need to pay it back. If that means selling your site or whatever. Then so be it. Pay the people back. However you need to do it I don't care just do it like you say you are.

Telling people that you will pay back when business is better does't cut it. Give us a plan! Don't tell us to give you options. At this moment I don't think you are going to ever pay us back. And whoever reads this is saying the same thing. One thing you can start doing is listening to the options that people have brought forward to you. YOU need to keep the people updated weekly on what's going on and the progress you have made. We shouldn't have to take the time out to chase you down. If anyone wants to see my communication with Support I will be happy to post it. Just message me.
Absolutely agree to do everything possible. And we are here to keep communication. Selling c-cex will not solve problem - there will be far not enough money to refund. As I wrote above we are working hard to become big. This is the only way to make 100% refunds possible. Of course we need time for that.
 

mwall

New Member
Jul 10, 2014
7
0
1
You asked for options. I'm giving you options. Giving us bland answers is not helping. So tell us your plan to become "BIG"? Some of us here don't have enough to give you "TIME". And what's you idea of "TIME". How much time? We have already gave you 5 months with little to show. How much DRK does C-Cex owe and to how many different people? How much BTC does C-Cex bring in daily? I'm guessing there are some cuts you can make to start paying people back. If your using BTC/Money to improve C-Cex. Well that's money that C-cex can use to pay people back. We didn't cause this. Your site did. I don't care how it happened or who did it. All I know is i had funds in your account and you took it away. Do you plan to give interest on the coins you are holding?

So C-CEX what's your plan? I don't want to hear that you will pay back and you need 100 years. I want to hear a plan! I want to hear weekly updates on that plan.

Please stop telling us that you plan to be "BIG" and that's when you can 100% pay. Because 99% of the people here probably think it's horse shit.
 

cjjamieson1983

New Member
May 30, 2014
8
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3
Absolutely agree to do everything possible. And we are here to keep communication. Selling c-cex will not solve problem - there will be far not enough money to refund. As I wrote above we are working hard to become big. This is the only way to make 100% refunds possible. Of course we need time for that.
C-cex.
As an outsider just kind of following this thread. Your in a bad situation, and it doesn't seem as though your plan to address it is helping. Firstly I would say you probably should have tried to handle this on a more personal level then posts on public threads. I know if someone lost my money I would feel being addressed personally in email or phone call much more professional and productive.

If I were you I would try in get in contact with all individuals, try and verify who is owed how many coins for each person. The find out on a individual basis what people would be willing to accept to make this right. Some ppl may need there coins right away, some ppl may be cool waiting around if you promise them intrest . I think the poster up ahead had it best in the idea that you just offer those individual a stake in your company, maybe they would be willing to consider there missing dark as payment for shares in your company.

But what you have now is a pr disaster. You have to find a plan that reassures ppl that they will be paid back and end all the negativity towards your site that's playing out all over the forums. The longer this goes on the worse for you.

Lastly I do want to give you some credit for atleast showing up and taking responsibility, But at some point your going to have to realize that the plan you put forward is not helping your situation, and find something that does.
 

c-cex

New Member
Mar 27, 2014
27
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3
C-cex.
As an outsider just kind of following this thread. Your in a bad situation, and it doesn't seem as though your plan to address it is helping. Firstly I would say you probably should have tried to handle this on a more personal level then posts on public threads. I know if someone lost my money I would feel being addressed personally in email or phone call much more professional and productive.

If I were you I would try in get in contact with all individuals, try and verify who is owed how many coins for each person. The find out on a individual basis what people would be willing to accept to make this right. Some ppl may need there coins right away, some ppl may be cool waiting around if you promise them intrest . I think the poster up ahead had it best in the idea that you just offer those individual a stake in your company, maybe they would be willing to consider there missing dark as payment for shares in your company.

But what you have now is a pr disaster. You have to find a plan that reassures ppl that they will be paid back and end all the negativity towards your site that's playing out all over the forums. The longer this goes on the worse for you.

Lastly I do want to give you some credit for atleast showing up and taking responsibility, But at some point your going to have to realize that the plan you put forward is not helping your situation, and find something that does.
Thank You for Your comment.
Yes, individual contact is the thing we tried before this post. And that was also mistake that exacerbated the situation. We tried to workout discrepancies personally but had no actual possibility for that.
Yes, disaster. Before posting we clrear understood that. But took decision to fix terrible mistake made in feb and become transparent for our customers.

As a kind of report, I want to inform that we increased our volumes about 5x times and it is stable for 3 weeks already. Also we don't have discrepancies and even picked up some deposits and DRK trading: https://c-cex.com/?p=drk-btc (2BTC volume today).
 

bitman267

New Member
Jul 14, 2014
1
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Thank You for Your comment.
Yes, individual contact is the thing we tried before this post. And that was also mistake that exacerbated the situation. We tried to workout discrepancies personally but had no actual possibility for that.
Yes, disaster. Before posting we clrear understood that. But took decision to fix terrible mistake made in feb and become transparent for our customers.

As a kind of report, I want to inform that we increased our volumes about 5x times and it is stable for 3 weeks already. Also we don't have discrepancies and even picked up some deposits and DRK trading: [link removed to meet 1st posting rules] (2BTC volume today).
A long time watcher/investor in DRK but my first posting here. As someone that's been in business and knows all too well the difficulties with debtors and creditors and the often deleterious effect they can have on cash flow, I'd just like to comment for a moment on this somewhat bizarre thread.
C-cex, many on here have acknowledged that, although you're in a bind and experiencing some difficulty, it's good that you're at least being transparent and telling everyone what's going on. However I think you may have missed some fundamental concepts when you set off to be in business and you have an even greater misunderstanding of how things work by the manner in which you're describing your situation.
Firstly, it doesn't matter whether you made a mistake, someone else made a mistake or you have lost a whole lot of DRK through some other scenario, you CANNOT, repeat CANNOT, take payment for a good or a service knowing that you can't deliver that good or service. Regardless of the specific circumstances you're battling, that is fraud. You have fraudulently accepted payment for goods or services that you can't deliver. And, you can't say "we'll pay everyone back when we're BIG", that's not how commerce works. You have to immediately liquidate some assets, beg or borrow to get the funds to pay those customers back. Anything less than an immediate response and you are just perpetuating the fraud. As it is you have carefully laid out the entire situation on this thread so that any lawyer would have an easy win in court on a charge of fraud. When you say "but we haven't benefited, just had losses" (or words to that effect) you're misunderstanding what constitutes a benefit. Your customers that have purchased DRK in good faith from you and now do not have their DRK are experiencing a disadvantage right now. They don't have access to those funds to make other investment decisions, pay their creditors or make any number of choices as to what they'll do with their funds. The benefit you're experiencing is that you're NOT paying a lender for capital to cover the lost DRK. You're keeping your business afloat and NOT suffering the consequences of the loss (although clearly it is stressful; but financially the immediate cost of capital to cover the loss is not being borne by you, it's being borne by your customers who don't have access to the DRK they've purchased).
As someone above pointed out, this is a PR disaster. The cost of interest on a loan to cover the missing DRK will be but a tiny fraction of the lost revenue you will be experiencing going forward. Do you not understand this absolutely fundamental concept? If the bank you keep fiat in could not be accessed and you rang the bank and they said "we've made a mistake and all your funds were taken.....as we trade over the next weeks/months/years we should be able to get them back" what would you likely do? I'd suggest you'd be physically down there at a branch of the bank (along with thousands of other people) demanding your money. Likewise if you bought a book on Amazon and, after debiting your credit card, they said "sorry, we don't actually have those books and don't have any funds to get them into stock, but as we make more sales of other books we'll be in a better position and will get you your book sometime in the future" would you think that even remotely legal let alone reasonable? And what if you booked a seat on an airline and turned up at the airport on the day to go on your flight and they said "sorry but we've lost a whole lot of money through a mistake and can't afford to fly this route at the moment, but as we make money on some of the other services, we'll start funnelling the funds back for this route to get it going again and let you know when we can fly you to your destination" would you think this to be even remotely reasonable?
Sorry for the long and drawn out text in this posting but you just don't seem to be understanding that you MUST pay these people back immediately or enter into a contract with them detailing terms on how and when they'll be paid. Just posting simplistic statements on here about how your volume is up just doesn't cut it. You have to resolve this immediately or 1) these people are going to sue you 2) your exchange will fail because as word get out it will be like a run on a bank and you'll end up with everyone withdrawing all their holdings and trade will drop off to the point where you're not covering your operating expenses 3) both 1 and 2 will happen simultaneously.
 

mwall

New Member
Jul 10, 2014
7
0
1
Thank You for Your comment.
Yes, individual contact is the thing we tried before this post. And that was also mistake that exacerbated the situation. We tried to workout discrepancies personally but had no actual possibility for that.
Yes, disaster. Before posting we clrear understood that. But took decision to fix terrible mistake made in feb and become transparent for our customers.

As a kind of report, I want to inform that we increased our volumes about 5x times and it is stable for 3 weeks already. Also we don't have discrepancies and even picked up some deposits and DRK trading: (2BTC volume today).
c-cex,
Are you going to answer my questions? You can't ignore the tough questions and avoid the tough posts.
 

c-cex

New Member
Mar 27, 2014
27
2
3
You asked for options. I'm giving you options. Giving us bland answers is not helping. So tell us your plan to become "BIG"? Some of us here don't have enough to give you "TIME". And what's you idea of "TIME". How much time? We have already gave you 5 months with little to show. How much DRK does C-Cex owe and to how many different people? How much BTC does C-Cex bring in daily? I'm guessing there are some cuts you can make to start paying people back. If your using BTC/Money to improve C-Cex. Well that's money that C-cex can use to pay people back. We didn't cause this. Your site did. I don't care how it happened or who did it. All I know is i had funds in your account and you took it away. Do you plan to give interest on the coins you are holding?
So C-CEX what's your plan? I don't want to hear that you will pay back and you need 100 years. I want to hear a plan! I want to hear weekly updates on that plan.
Please stop telling us that you plan to be "BIG" and that's when you can 100% pay. Because 99% of the people here probably think it's horse shit.
1. Plan is to make everything possible to grow. We will notify on significant steps.
2. It is impossible to give any time prognosis.
3. How much? - it is in my initial post
4. We have about 25-30 BTC daily volume. We have 0,05 BTC from it. 50% we pay to refund people lost from 23 feb. So there is 0.025 BTC left daily for keeping up project
5. We don't have any extra money or funding.
6. We don't hold any coins.
 

c-cex

New Member
Mar 27, 2014
27
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to bitman267
Thank You for Your thoughts. I read all carefully. There is several parts I can't agree with You. We are not a bank and don't have backup banks has. As I mention before - we are small startup. In 13 days from the beginning we got millions of dollars value (at current price) of funds flow. We just did not expect such volumes and had and have nothing to backup them. Also, as I mentioned before we don't have any assets to make instant compensations.
 

Propulsion

The buck stops here.
Feb 26, 2014
1,008
468
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Dash Address
XerHCGryyfZttUc6mnuRY3FNJzU1Jm9u5L
c-cex, if i deposited darkcoin into your exchange right now, would I be able to withdraw the full amount at any time?
 

acidburn

Active Member
May 26, 2014
467
175
113
[email protected], I know you mean well but do you not have a formal way of getting in touch with c-cex? Email the document to him rather than posting it on the forum?

It might get to him quicker ?
 
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[email protected]

New Member
Jun 8, 2014
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[email protected], I know you mean well but do you not have a formal way of getting in touch with c-cex? Email the document to him rather than posting it on the forum?

It might get to him quicker ?
I did that, via the support and Skype. No answer so they leave me no choice but to do it publicly. You would think a serious exchange would have a public address or whois but of course they don't.
 

c-cex

New Member
Mar 27, 2014
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[email protected] "we will presume that you do not intend to resolve this situation amicably"
Looks like this thread is not showing to You that we are in intend to resolve situation.
 
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vertoe

Three of Nine
Mar 28, 2014
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[email protected] "we will presume that you do not intend to resolve this situation amicably"
Looks like this thread is not showing to You that we are in intend to resolve situation.
I have to agree. I don't agree on the way you handle things but that's not my cup of tea. I'm glad you are still here taking on the hard discussions. Others would have been gone for months already.
 

acidburn

Active Member
May 26, 2014
467
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C-cex, I think you're missing the point. [email protected] gave you money in good faith sometime ago and it's now past the point where he's no longer willing to wait. And rightly so, he shouldn't have to wait. I would count your blessing take out a loan to repay him.

Be thankful that others haven't followed through with law suits
 

mwall

New Member
Jul 10, 2014
7
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1
[email protected] "we will presume that you do not intend to resolve this situation amicably"
Looks like this thread is not showing to You that we are in intend to resolve situation.
I think he presumes that C-Cex is not going to resolve this in a timely manner and probably not at all. This thread only shows that your willing to talk about the problem. You offer no real solutions except "Hey if we become huge we will pay you back".
 

c-cex

New Member
Mar 27, 2014
27
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C-cex, I think you're missing the point. [email protected] gave you money in good faith sometime ago and it's now past the point where he's no longer willing to wait. And rightly so, he shouldn't have to wait. I would count your blessing take out a loan to repay him.
Be thankful that others haven't followed through with law suits
It is imposible to us to take loan, and we can't take loan to pay only him. We owe very much more to other people that we have to thank, keep patience and let us work to resolve this issue.