Author Topic: What happens with Coinex?  (Read 922 times)

Offline coradan

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What happens with Coinex?
« on: December 11, 2013, 06:13:54 PM »
Any news about coinex.pw?  The site is down...
« Last Edit: December 11, 2013, 06:25:25 PM by coradan »
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Offline paulmaritz

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Re: What happens with Coinex?
« Reply #1 on: December 11, 2013, 06:27:05 PM »
It was probably hacked again. 

Offline coradan

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Re: What happens with Coinex?
« Reply #2 on: December 11, 2013, 07:40:12 PM »
I was mining there... 
Saludos,
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Offline paulmaritz

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Re: What happens with Coinex?
« Reply #3 on: December 11, 2013, 08:35:44 PM »
I will hold thumbs for a positive outcome!  8)

Offline Cheetahx

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Re: What happens with Coinex?
« Reply #4 on: December 11, 2013, 09:13:32 PM »
This is normal we need to expect these types of outages moving forward.  Bitcoin is in the spotlight more then ever now, governments around the world will continue to "investigate" and learn more about it moving forward.  This will also draw targeted attention to the Alt Coin's as well and important partnering hub trading sites like Coinex.  The best thing we can do is try to have as many redundancies as possible with alternative Exchanges, Pools, nodes etc.

Did any of you send an email to there support center?  It would be interesting to learn the specific issue they are experiencing.  We experienced a similar issue with Crypsty when we had our first major spike back in late July of this year.  They had to shut down the exchange as FastCoin rocketed to the top 10 spot in the Crypto community only 5 weeks after its initial public release.

/C


Offline coradan

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Re: What happens with Coinex?
« Reply #5 on: December 11, 2013, 09:28:20 PM »
They say this:

Quote
Hi!

CoinEX is under very high load right now. That influences withdrawing, depositing, mining rewards, and orders.
We are sorry.
You wont loose any deposit or mining reward.


Please be patient, we are working on it.
Saludos,
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Offline paulmaritz

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Re: What happens with Coinex?
« Reply #6 on: December 11, 2013, 09:31:11 PM »
Excellent! The same sort of thing recently went down at Cryptsy as well. It is due to the huge increase in folks who are also embracing cryptocurrencies! It is a very positive sign!  8)

Offline coradan

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Re: What happens with Coinex?
« Reply #7 on: December 11, 2013, 11:36:46 PM »
It seems that they are upgrading to get the huge network traffic:

https://bitcointalk.org/index.php?topic=265277.460
Saludos,
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Offline Cheetahx

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Re: What happens with Coinex?
« Reply #8 on: December 11, 2013, 11:39:36 PM »
Thanks for the update guy's,

yes we have stormy sea's ahead with a ground swell of interest in Crypto's, which is not necessarily a bad thing, brace yourselves...

/C

Offline coradan

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Re: What happens with Coinex?
« Reply #9 on: December 13, 2013, 06:57:27 PM »
It is alive again...!  8)

And I can recovery the funds that I had before migration!
Saludos,
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Offline coradan

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Re: What happens with Coinex?
« Reply #10 on: December 15, 2013, 04:17:37 PM »
Today Coinex has had another problem...

They said, that last days they did double payout, and have sustracted coins to the people, then the people was with negative balance suddenly.  It is a big problem, because if the people change emails, they will have a large losses...
« Last Edit: December 15, 2013, 04:21:21 PM by coradan »
Saludos,
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Offline Cheetahx

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Re: What happens with Coinex?
« Reply #11 on: December 17, 2013, 02:59:12 AM »
Today Coinex has had another problem...

They said, that last days they did double payout, and have sustracted coins to the people, then the people was with negative balance suddenly.  It is a big problem, because if the people change emails, they will have a large losses...
Thats good news Coradan, that you were able to get your coins, this seems like a potentially big issue.  It might be best practice to keep all your coin's out of the exchange when your finished trading until they can get all the bugs worked out.  Cryptsy is considered a Tier 1 AltCoin exchange and it is important that we support all exchanges as they go through there growing pains however the recent post should be a warning to all of us that none of this is 100% safe.  Consider the following post...

http://www.thebitcoinchannel.com/archives/30074

As a best practice, you might want to keep your coins in your local wallet once your finished trading, it would be a shame if these exchanges were to shut down and you could not get your coins at any cost.  We expect overtime these issues will be less and less, but for the time being consider the Mount Gox April 2013 flash crash as a warning as to what can happen when the system cannot take the load it is under.  Also, an important point, Cryptsy and all Alt Coin exchanges for that matter, are dealing with many more complicated trades then the pure Bitcoin only sites.  Due to the very fact that multiple Alt Coin's are being traded on a single exchange should give pause as to how complicated and stressed the systems can get.

We have to hand it to Big Vern and the team at Cryptsy, this is not an easy task that they have, however you should practice good common sense and safety as we move forward.

/C


Offline coradan

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Re: What happens with Coinex?
« Reply #12 on: December 17, 2013, 05:45:04 AM »
Yes I know...  :)

It seems that they have fixed the problem.  Coinex is my prefered pool to mining, but perhaps they have a lot of problems...
Saludos,
http://www.ejemplosbitcoin.com
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