Exchange Vircurex Freezes Withdrawals, Claims Lack of Reserves
Beijing-based virtual currency exchange Vircurex has frozen most of its digital currency withdrawals effective immediately, claiming it no longer has the reserves to cover customer requests. The freeze will affect all bitcoin, litecoin, feathercoin and terracoin withdrawals. A message on Vircurex's site says it will create a new balance type called 'Frozen Funds' covering all balances in the aforementioned currencies. The company maintains it won't be shutting down, saying it intends to "gradually pay back the losses". That Vircurex had a reserve shortfall had been known for some time,....
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Vircurex has stopped withdrawals for BTC, LTC, FTC, and TRC. Popular altcoin exchange Vircurex just announced that it has stopped withdrawals for BTC, LTC, FTC (Feathercoin) and TRC (Terracoin). Any incoming deposit will not be credited. Furthermore, on 24 March, all BTC, LTC, FTC, and TRC accounts will be frozen until Vircurex can redistribute available funds to users. Last year, the exchange was hacked twice, resulting in a large loss of coins. Vircurex promised to cover the losses from their own income, and the plan seemed to have been working until recently. “We had enough coin....
Bitcoin and altcoin exchange Vircurex announced today that they'll be halting the withdrawal of bitcoin, litecoin, feathercoin, and terracoin, and also not crediting deposits made to user accounts "for the time being", according to an announcement posted on their website. The halt is effective immediately, according to the company, who adds that on Monday (24th of March), they'll be freezing accounts with holdings in BTC, LTC, FTC, TRC, and removing open sell orders. The halt comes following two thefts in 2013 which "lead to a loss of a significant number of BTC, LTC, FTC, TRC." As....
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