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Users are venting frustration in the UK-based cryptocurrency portfolio and trading cubits after the service went offline following alleged late payments.
The Cubits website disappears overnight
Cubits, the trade name of Dooga, a company incorporated in London in 2014, was involved in a legal battle over allegations that was violated at the start of this year, a court ruling in favor of the company in August.
While it is unclear whether these legal proceedings subsequently impacted Dooga's business, officials still have to explain the exact cause of the sudden interruption, which began on 10 December.
The most recent tweet the company reads:
"We'll be back soon! Our services are not currently available, we'll have Cubits up and running as soon as possible, thank you for your patience."
Since then, an identical message has appeared on his main website Bitcoinist received an error message of 500 while trying to access the official Cubits.com website at the time of printing.
An important reshuffle seems to be underway at Cubits. Max Krupyshev, COO from April 2018, resigned last month, suggests LinkedIn data.
Meanwhile, the profile of the company's payment coordinator, Eloise Debono, on the social network includes being a former "representative" of the well-known Ponzi OneCoin scheme and a shared article discussing whether OneCoin is "the new Bitcoin".
BRB OR REKT?
Responding to the Twitter announcement, angry messages described weeks of delayed payments and a lack of information.
"I sent money (out) and did not show up," a customer said Bitcoinist in a private message.
The site stated that the withdrawal was made more than a week ago, but after six working days nothing happened. I'll have the police involved if nothing changes.
Others complained who were "receiving an invalid address message while trying to send" bitcoins and were waiting "two weeks" for withdrawals.
"Where were you last week? Since my case has been forwarded to the finance team, or so you say, you will not even answer my e-mails, which is incredibly inconsiderate for your clients," writes a another user.
Is the bear market catching up?
Cubits, a seemingly legitimate company that has been operating since 2014, has a history of attending the industry conference as a major sponsor with the latest being at the Blockchain Summit in Malta at the beginning of November.
A further narration that probably persists in the minds of the spectators is that of the financial arrangement in the year of the price of Bitcoin 00 lost close to 80 percent of its value.
Therefore, it is plausible that once again legitimate businesses such as the Cubites suddenly found themselves insolvent. Tweeting "I'll be right back" could be a way to gain time (similar to Mt. Gox and Cointellect in the past) while executives cover their tracks – even if this is just a speculation at this point based on existing evidence.
In the meantime, cryptocurrency operators have actually reported serious difficulties, with Mike Novogratz's Galaxy Digital last week forecasting annual losses of about $ 136 million.
Reportedly, Bitmain, the cryptocurrency extraction giant, lost $ 740 million in the third quarter alone.
In the meantime, uninterrupted interruptions of reassurances are nothing new for cryptocurrency investors using third-party payment service providers.
Such as Bitcoinist they reported, both this year and the last time, entities such as Coinbase were afflicted by a combination of demand, technical difficulties and lack of personnel available to handle complaints.
The entrepreneur and investor Trace Mayer called for a community effort to withdraw all Bitcoin holdings from third parties on January 3, a movement that he dubbed "Proof of Keys."
What do you think of the sudden disappearance and reports of Cubits users? Let us know in the comments below!
Images courtesy of Shutterstock, Twitter / @ CubitsHQ
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