I hope this on-going transfer process shows us the reason why COTPS asked us to give them the 3-5 weeks to fix things up at their end.
This is just transfer. Imagine how long it would have taken to recover the database and upload it again.
The database issue is even worse than what we are seeing at the moment. This is just one wallet address being processed for each of their 3M users.
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Now imagine a database containing all the transfers you have made to the system and the withdrawals you have done.
Then add to it every “Confirm” you clicked on that was stored in the database. Your referral earnings and all the lot. Little pieces of information that suddenly add up to form a huge amount of data.
That is a lot of data to process and would normally take some time. Only God knows how long it took them to complete that phase.
The reading and writing of little bit of information like these to disk takes long periods to finish. That is so much data.
Then, think about the re-programming of the interface and the integration of the new security features they are adding. If you’re in the know, you will understand that this is no small work and takes time.
The need for extra care in the programming cannot be overstated. Once beaten, twice shy. They may not be so lucky if a second hack attempt should be encountered.
In order not to take any unnecessary risk, they have decided to ask for all the time they need to fix these things and make sure that they are fully secured going forward.
As you can notice, the transferring of these small amounts that are are so many is making it take so long for them to finish the transfer process.
So, we can now all see why they said we should give them the 3-5 weeks time period. At the moment, they cannot even estimate how long this transfer process might take.
All we can do now is to remain patient once again like we’ve been so far for the past few weeks since the hack attack.
As Boss Jesam Michael would say, “Let’s give them that hard currency called patience.”
We’re almost there my people. Just a little more patience and it will all end in praise!!!
COTPS sent $6.0 Billion USDT in total into the Cold Wallet.
The rest of the money in the Cold Wallet is probably Binance’s money as is shown by transactions in the wallet itself. The Blockchain never lies and the information there is permanent.
The money was moved to the Cold Wallet as COTPS was to resume funds withdrawal that morning so that Binance could be monitoring the account because of earlier COTPS customer complaints.
The rest of the money in the Cold Wallet is probably Binance’s money as is shown by transactions in the wallet itself.
COTPS mainly deals with USDT and so only transferred $6.0 Billion USDT to the Cold Wallet. In fact, all the USDT in the Cold Wallet belong to COTPS and that is what they are transferring to customers at the moment.
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Let’s get back to your main question here.
Define the COTPS Wallet address you’re referring to.
- 1. Is it your Recharge Wallet address?, or
- 2. Would that be your withdrawal wallet address?
In either case, you will not see any deposit in any of these accounts
Have you ever received money before in your Recharge Wallet address? If not why expecting to receive one now.
Also, have your submitted a withdrawal request in order to have money sent to your withdrawal wallet address? If not, why should you be expecting any deposit into it.
Understand that COTPS has an internal wallet address attached to each user that one the system knows. It is to that account that the money is being sent.
When the platform re-opens it will load it from there into your dashboard.
The simplest thing is to stop worry yourself about it. You’re are seeing the transfers being made live before you.
When it finished, we’ll get back to trading again.
They started these transfers because they had finished all the work at the back end.
The following information can be derived from the attached image:
- Column A
This represents the total amount in TRX held by the Binance Cold Wallet amounting to over $108 Billion TRX valued at over $6.2 Billion United States Dollars.
Here you will find the total amount of USDT also valued in United States Dollars that is held in this Binance Cold Wallet. The transaction history clearly indicates that the whole of this USDT was transferred into the Binance Cold Wallet 6-7 Hours before the hack attack. It currently stands at around $5 Billion as of the time of writing.
This column indicates the number of various tokens that have been transferred in and out of this Binance Cold Wallet. Currently 376 Tokens are listed in it. The transaction history clearly shows that COTPS has made several transfers in different tokens into this Binance Cold Wallet.
It is these tokens that other tokens that most of the other accounts that are not the COTPS Hot Wallet have been transferring to this Binance Cold Wallet.
Still we cannot say if these other wallets also belong to COTPS or not. The only wallet we are sure in this Binance Cold Wallet history that belongs to COTPS is the Hot Wallet we are all familiar with.
It can thus be inferred that COTPS engages in arbitrage trading with other tokens at the back end during the 2-Hours time frame given for our transaction amounts to return back to our wallet.
They practically owe us no explanation here as the agreement is that you will receive your 0.003% per transaction that you carry out through the platform in USDT – thus no risk on your part as the investor.
Anybody still doubting COTPS’ ownership of these monies should provide us with their reasons because the Blockchain and its data is immutable, xxxxx, and permanent.
Just be patient a little bit more.