NSW Negligence by BTC Markets - Where Do I Stand?

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SuKar

Active Member
11 March 2017
11
0
31
Till date BTC Markets did not provide any evidence of 3 approvals received from my email account for the 3 Withdrawals performed by the hacker!

Today, I noticed BTC Markets removed the withdrawal policy from their website to hide the evidence but still available in the google search.
 

David Hay

New Member
24 December 2017
1
0
0
Adelaide
@SuKar I'd love to know if there has been any progress in your case. What Rod and Iamthelaw both said is very true, the criminal side to your case will likely never see an end as the crime was performed by parties unknown to BTC Markets on your account. If I had money stolen by credit card skimmers from my bank I may file a police report however the recouping of moneys lost is a civil matter. Also as stated before Aus banks are better secured and better insured to handle cases (and probably have dealt with millions of such thefts). So to regain your lost investment the case must be entirely civil in nature.


Did you come to an agreement with BTC Markets? In my opinion they should be liable for 100% of your lost funds as they did fail to verify the identity of the person withdrawing them as well as several quite obvious and most likely human errors along the way. Remember hackers/scammers can be very, very good at being you. However that doesn't make BTC Markets any less liable. I notice BTC Markets now have a note on their 2FA setup that you have a 2FA recovery code that you must write down and store offline otherwise accounts will not be able to be claimed back online anymore. Maybe this has been added from such cases as yours? Banks must pay back 100% of your stolen/ scammed funds if they find no extra negligence on the customers behalf. Of course to get 100% you'd definitely have needed to contract the services of a civil lawyer adept in such cases which would then be costly and time consuming. Many people settle out of court not because they can't win 100% but because the time/cost/effort and potential for loss is higher than the offer presented.

I would have personally attained a lawyer and gone through the entire process out of principle alone but maybe you needed your investment back sooner?

I'd love to hear from you as the BTC hitting record highs mid Dec would make your blood boil. If it makes you feel any better I had 400 odd BTC purchased at $7 each stored with MtGox back in the day. When the hackers stole the lot and MtGox filed bankruptcy it wasn't a huge deal for me but I could never had known what BTC would become. I still joined the mass insolvency claims case but more recently have broken away and attained my own legal service as those 400BTC are a little more valuable right now ;) still not all that hopeful however I'd rather try than not :p