The dead must say a word. Walahiiii

Princejebs:

I don't know why nairaland like to promote bad news about crypto but good news will be left aside. I read the news on cointelegraph and it was said that the exchange will be auction for sale so as to return customers money to them.

So auctioning the exchange will raise $190m customer's fund. You're not smart at all

Princejebs:

I don't know why nairaland like to promote bad news about crypto but good news will be left aside. I read the news on cointelegraph and it was said that the exchange will be auction for sale so as to return customers money to them.

Nairaland has always been Anti-crypto.. Always spreading the negatives about it

tayebest:
Oja tii burst!


Sakamaje

Please what does sakamaje mean ??

I don't believe this. Is there any system in this world where a person controls the passwords? How can one person be in control of hundreds of passwords and there's no retrieve password option in case one forgets it? There's serious foul play going on here. I won't be surprised if the owner of the wallet faked his own death and absconded with their money.

Mariangeles:
Please what does sakamaje mean ??

It means scam/fake/fraud and the likes, depending on the context.

Princejebs:

I don't know why nairaland like to promote bad news about crypto but good news will be left aside. I read the news on cointelegraph and it was said that the exchange will be auction for sale so as to return customers money to them.

God will bless you brother. It was clearly stated in the rules not to promote crypto, yet a particular mod is always promoting FUD about crypto. Whether they like it or not, crypto is the future. They are just being ignorant to look in depth and research about crypto.

BTW, QuadrigaCX doesn't seem to have a cold storage and even after the death of its owner, funds were still on the move. So funds ain't lost, it's just an exchange exit scam

Nogodye:
They should click "forget password"

Clicking Forget Password will not work because I believe no other person has the details to ask for new password

logon599:
This is very poor administration. Leaving all passwords in the possesion of only one person even sounds fraudulent

The problem with when you share it with fellow worker and there is little misunderstanding he will withdraw the money and say the exchange was hacked. Same thing that happened to cryptopia one of the team member just withdraw the money.

Joegift:
Please is forex trading a good biz to venture into?

Run for your dear money. You will need minimum if 2 yrs experience to make it in forex.

Sakamaje:


It means scam/fake/fraud and the likes, depending on the context.

Thank you for the clarification

simple thing forgot password and username then click to answer few questions and retrieve my account and password......

Is he really dead? Just thinking

dominique:
I don't believe this. Is there any system in this world where a person controls the passwords? How can one person be in control of hundreds of passwords and there's no retrieve password option in case one forgets it? There's serious foul play going on here. I won't be surprised if the owner of the wallet faked his own death and absconded with their money.

My dear you won't understand. Passphrase to cold wallet once shared with a third party, the exchange can be hacked when there is little misunderstanding. So most guys prefer not to share it at all to avoid stories.

Earlystar698:
simple thing forgot password and username then click to answer few questions and retrieve my account and password......

Are you into Cryptocurrency? Do you think you are retrieving forgotten password? You can't retrieve passphrase.

Why r they always dying?

donefezy:

God will bless you brother. It was clearly stated in the rules not to promote crypto, yet a particular mod is always promoting FUD about crypto. Whether they like it or not, crypto is the future. They are just being ignorant to look in depth and research about crypto.

BTW, QuadrigaCX doesn't seem to have a cold storage and even after the death of its owner, funds were still on the move. So funds ain't lost, it's just an exchange exit scam

Nah, also read the sad news on cointelegraph, the CEO died since january and till now, they havent been able to crack the password because it is stored in cold storage. Cold storage is what most firms handling large volume of cryptocurrency use. Yoy cant put that kind of money in a online wallet. If u try am, dem go hack am.

MMM

The kain curse wey pple go curse dis man go even make am die again for the land of the dead just the way the curse wey Nigerians come lay for the head of that MMM owner wey make am come die like dat.

noble71:

My dear you won't understand. Passphrase to cold wallet once shared with a third party, the exchange can be hacked when there is little misunderstanding. So most guys prefer not to share it at all to avoid stories.

They could have made use of multisig wallet which is adopted by so many exchanges. One person dies, others will still have access to funds. But from recent research, the exchange doesn't have a cold wallet, and funds are still on the move ever since the owner died.

Bignuell:
Nah, also read the sad news on cointelegraph, the CEO died since january and till now, they havent been able to crack the password because it is stored in cold storage. Cold storage is what most firms handling large volume of cryptocurrency use. Yoy cant put that kind of money in a online wallet. If u try am, dem go hack am.

Nah, the CEO died 9th December 2018. Since blockchain is very transparent and nothing can be hidden from everyone, it has been researched by so many blockchain and cryptocurrency enthusiasts that QCX exchange doesn't have a cold storage. Besides, QCX exchange has been liquidating coins on poloniex and other exchanges even after the death of the CEO. Check the attached image

3RNEST:
Calling spirit tinz

I swear bro, the man go tell them password sharp sharp. Oyibo dey dull

noble71:

The problem with when you share it with fellow worker and there is little misunderstanding he will withdraw the money and say the exchange was hacked. Same thing that happened to cryptopia one of the team member just withdraw the money.

Imagine leaving all the access codes for a bank in the hands of the bank's MD alone. Even you wouldn't be comfortable with that bank. Cos it means of anything happens to the MD, billions of people's deposits are in danger. And absolutely anything can happen to him because he's human and not invincible. Besides it means he can perpetrate fraud anytime he wants without going through any checks or balances. Even the US nuclear launch codes are not all in the president's possesion. Because they know something can happen to the president at anytime and then the entire country will be left exposed and vulnerable because of one man.

This is one of the key disadvantage of centralized exchange

Rolly22:

I swear bro, the man go tell them password sharp sharp. Oyibo dey dull

Maybe the company is trying something funny. We have professional hackers all over the world. I doubt the man can rest in peace until people have access to their money.

Something must be done.

Datazone:
This year has been a bad one for cryptocurrency, QuadrigaCX dies and Cryptopia was hacked 3 weeks ago. Both exchanges have been locked down.

I urge every Nairalander who's a trader on any exchange to move the currency to a wallet that they have control of the private key and trade with only a portion. Read their ToS and you'll see that in case of a hack (or exit scam) they are not liable. They will pay creditors first before their customers even if the case drags on. Don't be a fool

Bro pls what do you suggest those of us that are holding alternate coins in some of these trading sites do?

selling them is not an option cos am down with over 85% since last year.

noble71:

Are you into Cryptocurrency? Do you think you are retrieving forgotten password? You can't retrieve passphrase.

I think say e go be like Facebook account

Earlystar698:
I think say e go be like Facebook account

Not at all.

MARKETfund:


Bro pls what do you suggest those of us that are holding alternate coins in some of these trading sites do?

selling them is not an option cos am down with over 85% since last year.

Depends on your financial status (money in the bank , salary and physical investment), some are ready to wait till the next bull run whereas others are in sinking sand.

Judging from your post, you need help and need it quickly. Well, man I'll tell you for free, the next bullrun is not in sight if I'm to infer from recent happenings. If you can sustain yourself, ignore the cryptos you have for now, send them to a wallet, it will yield profit later. If you need the money to live, withdraw am small small dey chop my friend. You're not the only one who's down, we all are.

Datazone:

Depends on your financial status (money in the bank , salary and physical investment), some are ready to wait till the next bull run whereas others are in sinking sand.

Judging from your post, you need help and need it quickly. Well, man I'll tell you for free, the next bullrun is not in sight if I'm to infer from recent happenings. If you can sustain yourself, ignore the cryptos you have for now, send them to a wallet, it will yield profit later. If you need the money to live, withdraw am small small dey chop my friend. You're not the only one who's down, we all are.

Thanks bro but No am ok financially at the moment.
Problem is that 2/3 of the investment belongs to my boss and he's asking me to cash out with that massive loss (invested over $120k). He's not happy but he's willing to take his loss and go lick his wounds.
If I had listened to him around September last year and cash out I wouldn't have been down with that much of percentage.
It's painful really.

MARKETfund:


Thanks bro but No am ok financially at the moment.
Problem is that 2/3 of the investment belongs to my boss and he's asking me to cash out with that massive loss (invested over $120k). He's not happy but he's willing to take his loss and go lick his wounds.
If I had listened to him around September last year and cash out I wouldn't have been down with that much of percentage.
It's painful really.

That's the thing with cryptos, very volatile. Two-third of $120K is a lot of money. The decision is yours and your boss' to take, however, if I were you, I'll do the math and take the risk. When Bitcoin drop, altcoins usually drop with a higher percentage. Check available data and see how your altcoins or shitcoins have been performing. So, I'll exchange to Bitcoin and buy the altcoins when it looks favorable (bit by bit).
Remember, in a bearmarket, Bitcoin is a safe haven whereas in a bull market, altcoins will give you the opportunity to fire your boss.

If you want to set up your own cryptocurrency, I am a blockchain developer, I can assist. Thanks.