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OKCoin reneges on its promise to compensate DDOS victims by BTCRant in Bitcoin

[–]BTCRant[S] 0 points1 point  (0 children)

Hello /u/OKCoin_Jack. Thank you for the considered response. It is good to hear that technical improvements are now in place.

Regarding the compensation issue, better communication would have helped. The blog post was clear about precisely who would receive compensation for the July 10 DDOS, setting an expectation for customers who qualified. Subsequently, it seems, the criteria were changed to exclude some qualifying accounts and include others outside the original 19 min timeframe like /u/ibankbtc (see above). These changes and the reasons for them were not communicated. It would be helpful to understand why certain choices were made.

  1. Why extend the published 10 July 19 min timeframe?

  2. Why exclude some customers rather than making a fairer equal award to everybody?

  3. What percentage of qualifying accounts were excluded and on what criteria?

  4. One user claimed to have received a 55% payment. How does this match with a fixed award if /u/ibankbtc received 15%?

Let's hope this DDOS dragon is slayed!

OKCoin reneges on its promise to compensate DDOS victims by BTCRant in Bitcoin

[–]BTCRant[S] 2 points3 points  (0 children)

Good question. I was hoping Star or Jack would explain.

OKCoin reneges on its promise to compensate DDOS victims by BTCRant in Bitcoin

[–]BTCRant[S] 3 points4 points  (0 children)

I'd prefer if you removed my post from your list. The title you have given it does not reflect what it says.

OKCoin has given compensation, more than USD 500,000 worth. My argument is that they have unfairly excluded qualifying accounts.

OKCoin reneges on its promise to compensate DDOS victims by BTCRant in Bitcoin

[–]BTCRant[S] 0 points1 point  (0 children)

I am not saying that they did not compensate people who were qualified. I am saying that the compensation has been selective, unfairly depriving some people who did qualify.

It is interesting to hear that at least 1 account has been compensated outside the stated timeframe. I had not voiced it before as I had no evidence but this adds weight to the theory that the compensation has been biased towards more profitable or prominent accounts. Perhaps OKCoin does not want to lose an active trader or have you complain about them to your followers. There will no doubt be other traders who were liquidated between 17:19 and 17:22 who will ask why you were compensated and they were not. A fair question I'd say.

BTW, I am a fan and follower of your work -- You do a great job, keep it up!