Users of Dream Market Losing Coins by Sending BCH to BTC Wallets

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Some Dream Market users are having trouble accessing the new BCH payment option. As a result, they end up sending funds to the wrong address.

As time passes, more developments continue to take place in hidden markets and among them is the addition of new altcoins, which are meant to bring more convenience to dark web market users.

Bitcoin (BTC) is the very first virtual currency to get adopted by hidden sites. At first, it proved very convenient but as individuals in the community continued to use it, some began experiencing drawbacks.

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And as a result, many saw the need to start accepting altcoins to be used as substitutes, or even to compete against it altogether.

One of the major drawbacks with Bitcoin is the delays in the blockchain network. Delays are caused by the ever-increasing number of transactions within the network, leading to higher charges in processing fees from the miners.

Due to the delays, Dream Market—the current most popular market of its kind—saw it essential to integrate Bitcoin Cash (BCH) as a payment option. However, during the development of this feature, the engineers working on the system never put into consideration some key factors.

Now, those factors are beginning to emerge as Dream Market users are losing their coins by sending BCH to Bitcoin wallets.

Issues Experienced

Dark Web News took a look at Dream Market forums to find out more about the issue, and it seems users are concerned with the fact that they’re losing funds by transferring Bitcoin Cash to Bitcoin wallets. The two crypto assets are different from each other, and so there is no way the balance will reflect and thus resulting in the loss of funds.

The reason why market users ended up sending BCH funds to their BTC wallets is that there was no icon on the homepage where the BCH balance section appears.

However, there were those who could see the option after logging in, and they are the ones who experienced little or no issues—since they could just click on the BCH icon and proceed with transferring funds from their wallets to their account in order to make a purchase.

It is not the first time that users of Bitcoin are finding themselves in a similar situation. Last year, when Bitcoin split to form Bitcoin Cash, users began discussing what the new currency means for the community by considering its adoption rate and the likelihood that it will survive the crypto wave.

During this time, and up to date, users are finding it difficult to differentiate between the two due to the spiking similarities. Though not compatible with each other, the addresses are very similar, and a person cannot distinguish a BTC wallet from BCH because the two have alphanumeric characters which are the same length.

Right after the split, issues of users sending BCH to BTC wallets began to emerge. And as events unfolded, users started taking their concerns to Reddit to see if others also experienced the same problem. The occurrence of sending Bitcoin Cash funds to the wrong addresses began even before the adoption of the currency by Dream Market, which had used BTC all along.

Given the fact that Dream Market is currently rated as the biggest market after the fall of AlphaBay, it is unknown why the developers never took time to look at this process of automatically adding the icons for their customers to see.

On the other hand, a market like Silk Road 3.1, which comes second to Dream, has already added payment support for other altcoins, bringing the options to four—Bitcoin (as usual), Monero, Litecoin and Ethereum. What’s more is that all the options are readily available, giving the customer a much easier time to navigate the system and deposit their coins.

How to Add BCH Option in Dream Market

For some accounts, there is a BCH icon together with BTC, thus making it easier for the user to choose depending on convenience. Those who could see this option never had any problems unless they made a mistake of accidentally clicking the BTC option.

But for those who cannot locate the BCH option in the homepage, all they need to do is to type /bchWallet at the end of the URL after logging in, and the option will appear.

This is according to a post (screenshot below) from the site’s forum moderator, who explains to members what they should do to add the BCH option.

Taking Extra Caution

With the unexpected events that take place in dark web markets, users should take steps to stay safe from different parties who could be after them in one way or the other.

Evident to the fact that most of what transpires in the dark web is illegal, then it is for sure that law enforcement agencies are on the lookout for those who make both purchases and sales through darknet markets. Not only that, those who manage the marketplaces are also targets.

The other parties who target users are fraudsters who will seize every available opportunity to scam an individual of their funds.

Crypto-currency with a BitCoin on the screen
Some of the vendors of Dream Market are very fond of asking customers to contact them privately on these messaging apps so they can lure the individual into making offline payments, which results in fraud.

The scams can happen in a variety of ways—either by not delivering orders after an individual has placed a Finalize Early (FE) or through third-party anonymous messaging apps such as ICQ and Jabber, among others.

Some of the vendors of Dream Market are very fond of asking customers to contact them privately on these messaging apps so they can lure the individual into making offline payments, which results in fraud.

Now that Dream Market users continue to have the option of using Bitcoin or Bitcoin Cash, it is necessary that they make use of tumbling services to protect themselves further, since transactions can be traced back to the source if they are not careful.

Tumbling services—also known as shufflers or mixers—usually mix up the coins and give them a new set, thus removing any possibility of getting traced.

C.M.

C.M.

With the urge to know more about everything around us, I am an enthusiast researcher and writer with keen interest in expanding my knowledge in a bid to be well versed. Through writing, I express and share my feelings, ideas, and thoughts for like minded individuals.
C.M.
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The articles and content found on Dark Web News are for general information purposes only and are not intended to solicit illegal activity or constitute legal advice. Using drugs is harmful to your health and can cause serious problems including death and imprisonment, and any treatment should not be undertaken without medical supervision.

2 COMMENTS

  1. Anonymous

    This happened to me where I sent $40 worth of bitcoin cash To the fucking bitcoin wallet instead of the bitcoin cash wallet. There was no currency icon and they Both said “BCH” at the bottom. This was defiantly my fault for not being aware and careful, but still, Fuck me! I messaged the Dream Market customer support and asked them if they could give me my BCH back. I am still awaiting a response. I am pissed that crypto currency can disappear into thin air that easily, But then again I should have been more careful.

  2. Anonymous

    I don’t know what happened to me. I know for certain that I sent from a bitcoin cash acct to the bitcoin cash address on my dream acct. I double, triple, quadrupled check and was very careful while making the transaction. My deposit never made it to my bitcoin cash wallet. Ive made bitcoin cash transactions successfully before without any problem. I chose bitcoin cash because it seemed to be faster and cost less each transaction. I checked the detail activity for that transaction with the platform i used. It showed that the bitcoin cash address i sent the money to was a bitcoin address. So i clicked on the icon that took me to the blockchain and saw it had several confirmations and to this date it has over 9000 confirmations. My transaction took place March 2, 2018. On my dream market acct it still has the same address i tried sending my deposit to and it clearly says bitcoin cash address but on the blockchain it says bitcoin. I have sent support all my transaction info and address used and still havent been able to get my deposit. My first response i got was there was nothing that could be done because of sending btc to btcc was irreversible and security issue. But i was totally misunderstood because i didnt make a mistake or accidently send wrong currency to wrong address. I have all necessary proof to show i did everything correctly. It just seems to me that nobody wants to take the time and look at what i am saying and see that this wasnt a fault of mine. Im still trying to get some answers and get my deposit back. Its still sitting on the blockchain unspent. This was 60 days ago. My latest response from support was showing me my purchase from 23 days ago. Im thinking to myself…what the hell does that have to do with anything??? Ive made several transactions since March 2, but I’ve had to use bitcoin because I still have the same bitcoin cash address that didnt work the first time i tried using it. It might seem a bit confusing, but if someone could please shed some light on this for me since I haven’t been able to get a logical explanation or any kind of satisfying resolution from support, would be greatly appreciated!

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