kiwissz Posted July 25, 2017 Share Posted July 25, 2017 1 hour ago, JTcoins said: I'm an EU user. I am trying to get my BTC out but I can at all??? What do I do to get them out of my snapswap wallet? Please help - pretty paniced with all the bad stuff im reading what is snapswap Link to comment Share on other sites More sharing options...
kiwissz Posted July 25, 2017 Share Posted July 25, 2017 can you have btc there? and why did you put btc on snapwallet ? you had coinbase you could buy from there and swap. hey you have your bitcoin address right? swap using shapeshift Link to comment Share on other sites More sharing options...
kiwissz Posted July 25, 2017 Share Posted July 25, 2017 On 14/01/2016 at 6:21 AM, celticwarrior72 said: I finally zeroed out my SnapSwap.us balance and removed the trustline to my wallet. Just a note to say thanks to Denis, Dmitry and Anna at SnapSwap. They created a ground breaking gateway on an incredible new technology and demonstrated that Ripple can indeed be used to move funds anywhere instantly. SnapSwap.us will be missed. so there is two?? why snapswag.us gone? snapswap.eu arrived? same company? Link to comment Share on other sites More sharing options...
JTcoins Posted July 25, 2017 Share Posted July 25, 2017 (edited) @kiwissz I had them in it years ago -got them to get ripples had some left over, migrated it to gatehub, thought my snapswap was also in there as it was showingin there but it was just a gateway. Now SnapSwap is like sold to this other company (btc2ripple.com look bottom right) and now theres all this horror stories Im reading. Surely my BTC cant just begone though? would they not be somewhere? Really appreciate the help here 1.61 BTC are missing so I'm a little freaked Edited July 25, 2017 by JTcoins mixed up my lefts and rights Link to comment Share on other sites More sharing options...
Mercury Posted July 25, 2017 Share Posted July 25, 2017 SnapSwap had issues with US AML laws and split the company into a US and EU division to better serve both markets. At the same time SnapSwap was using the BTC2Ripple service as a bitcoin to ripple bridge using the same issuing address as their fiat currencies. Over time all these endeavours fell flat and SnapSwap issued a notice it was winding down operations. After the initial rush to transfer assets some people kept trading SnapSwap issued IOUs. Over time BTC2Ripple was sold to another holding company who has trust issues withing the community. They only service select countries and make it very very very difficult to withdraw (I personally suspect solvency issues). SnapSwap did NOT do the right thing in recalling all of its IOUs and now they are floating around out their as zombie currency that for some reason some keep trading in. greenpanther and kiwissz 2 Link to comment Share on other sites More sharing options...
CNFlinch Posted July 25, 2017 Share Posted July 25, 2017 (edited) On 1/14/2016 at 1:21 AM, celticwarrior72 said: I finally zeroed out my SnapSwap.us balance and removed the trustline to my wallet. Just a note to say thanks to Denis, Dmitry and Anna at SnapSwap. They created a ground breaking gateway on an incredible new technology and demonstrated that Ripple can indeed be used to move funds anywhere instantly. SnapSwap.us will be missed. I will forever have those memories of me going to the Well Fargo branch. See by me there was only one Wells Fargo branch and it was in the shady part of town. I remember the first time I googled for a location the first few hits were articles about armed hold ups there. You know it was extra shady because the robberies weren't even with a gun, they were all knife hold ups. Anyway, I remember rushing there from work, at night, right before they closed, and getting those questioning looks from the tellers. Teller: Is this your bank account? Me: Ummmm, no. Teller: Do you know the account holder? Me: Ummmm, am I required to know them? Teller: Well, you are looking to deposit a large amount of cash into this account. Me: Yes. Teller: And it's not your account. Me: Correct. Teller: Well sir, are you purchasing something? Me: Ummmm, yes. Teller: Ok, what are you purchasing? Me: Ummmmmmmmmmmmmm. Teller: It's ok sir, you don't have to answer that. Me: It's not that I don't want to answer, it's just that, see there is this thing called Ripple, see it's like money but it's online. Teller: We don't offer that here sir. Me: I saw that article about the robbery last month, was everyone ok? Teller: Oh yes, I wasn't here luckily. Now this account is located in the state of Washington correct? Me: Umm yes, I believe so. Teller: Ok you're all set. Me: *head down in shame* thank you. Edited July 25, 2017 by CNFlinch DarthTrader 1 Link to comment Share on other sites More sharing options...
Professor Hantzen Posted July 25, 2017 Share Posted July 25, 2017 29 minutes ago, Mercury said: SnapSwap did NOT do the right thing in recalling all of its IOUs and now they are floating around out their as zombie currency that for some reason some keep trading in. One reason they keep trading may be because of (understandable) ignorance regarding the correct usage of the NoRipple flag. There've been multiple instances here, the old ("official") forum, and on reddit, of people who've long since left snapswap behind, yet ended up having USD or BTC rippled out of their accounts and replaced with snapswap versions of same, due to having exposed themselves to such practice by unwittingly setting the NoRipple flag counter to their intentions. Should this happen, the only semi-reliable course of action is to place an appropriately out-of-market order on the snapswap books and wait for it to be filled - which *can* happen if you're prepared to wait (though it could be days, weeks or months). The long and short of it is that in order to prevent rippling definitively in a given wallet you must have NoRipple flag set *on every trustline*. It is not sufficient to have it set *only on the trustline you don't wish to ripple*. Unfortunately - and maybe counter-intuitively - that's just the way it is. Full details here: Understanding The NoRipple Flag For anyone reading who has ever held snapswap or btc2ripple IOU's in a ripple wallet they're still using for other IOU's: the safest thing to do if you don't completely understand the ramifications of the NoRipple flag, is to treat any wallet that ever held snapswap or btc2ripple IOU's as "tainted". As such, create a new ripple wallet, and if it is not set by default, be sure to set the NoRipple flag (aka, "Disallow Rippling") on every new trustline you create, and then move any existing IOU's (except snapswap/btc2ripple), out of your old wallet and into the new one. kiwissz 1 Link to comment Share on other sites More sharing options...
kiwissz Posted July 26, 2017 Share Posted July 26, 2017 @JoelKatz@nikb Link to comment Share on other sites More sharing options...
Mercury Posted July 26, 2017 Share Posted July 26, 2017 31 minutes ago, kiwissz said: @JoelKatz@nikb Not sure what they could do to help you really. If you email Ripple about this (as I and others have) you will receive a reply stating that this is a matter between SnapSwap and the new owners and out of their hands. If you email SnapSwap they will tell you they do not have anything to do with Ripple. If you email BTC2Ripple you either get a cryptic reply or nothing at all. Link to comment Share on other sites More sharing options...
JTcoins Posted July 26, 2017 Share Posted July 26, 2017 @MercuryAnd have you managed to sell your IOU BTC's or whatever they are? How do you even access them? Link to comment Share on other sites More sharing options...
Mercury Posted July 26, 2017 Share Posted July 26, 2017 12 minutes ago, JTcoins said: @MercuryAnd have you managed to sell your IOU BTC's or whatever they are? How do you even access them? Oh I got out when they said they were winding down operations and I was always accessing through the EU operation so I was safe. Was helping out some other forum members (using the search at the top right hand corner can bring up past posts on the subject). Still nothing Link to comment Share on other sites More sharing options...
JTcoins Posted July 26, 2017 Share Posted July 26, 2017 I was also using the EU operation - I just never got any notifications or anything about it. I was told that US citizens needed to get out so I thought I was fine. Literally only this week when trying to get some more XRP have I become aware of this Link to comment Share on other sites More sharing options...
Lewnatic Posted July 29, 2017 Share Posted July 29, 2017 Got the same problem and lost around 0.28 BTC to this Problem. What can i do to get my BTC back? Had it set to SnapSwap on Gatehub. How can anyone call this SnapSwap service "a ground breaking gateway" when its scamming their customers? Link to comment Share on other sites More sharing options...
tulo Posted July 30, 2017 Share Posted July 30, 2017 On 25/7/2017 at 8:52 AM, JTcoins said: I'm an EU user. I am trying to get my BTC out but I can at all??? What do I do to get them out of my snapswap wallet? Please help - pretty paniced with all the bad stuff im reading Watching the actual prices I think it's impossible to withdraw them... Link to comment Share on other sites More sharing options...
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