miércoles, 2 de octubre de 2013

MtGox Scam?

I recently decided to withdraw fund from my account with MtGox. I decided to do it by wire transfer. About 8 days after my withdrawal request, and not having my money back, I wrote MtGox to ask them about the situation of the withdrawal. Here are our email exchanges; Is MtGox a scam or about to scam people? Judge for yourselves:

Thomas Support, Sep 27 08:47 (JST):
Hello,
Thank you for the E-mail. We have received a huge international withdrawal request from the customer end which is unexpected that turns to huge backlog that we need to cover. On daily basis our team is investing more time and efforts on clearing such pending request manually at first come first out. At this point of time we are unable to provide you an exact time frame on your withdrawal request arrival to your bank account.
We sincerely apologize for the delay occurs. We will keep you posted soon once your withdrawal request is approved from our bank. We expect your kind co-operation on this time delay.
Please let me know if you have any question.
Best regards,
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]


COMMENT:  " huge backlog that we need to cover" SO MTGOX NEED THEN TO HIRE A COUPLE OF PEOPLE TO PROCESS WIRES AND SOLVE THIS PROBLEM, RIGHT?
IF SO, HOW COME THEY HAVEN'T DONE THIS YET? LETS SEE....:

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Steven, Sep 27 11:36 (JST):

Hire more people. You can not say " we dont know when we will give you the money"! This is not acceptable!
 Thomas Support, Sep 28 03:08 (JST):
Hello,
We sincerely apologize for the delay occurs on processing your withdrawal request. On this situation we really would like to thank you very much for your patience and support. We understand that delay in the withdrawal is unacceptable. Our bank faces an issue on sending withdrawal to the customer due to huge backlogs. On daily basis our team is investing more time and efforts on clearing such pending request manually.
We will keep you posted soon once your withdrawal request is approved from our bank. We expect your kind co-operation on this time delay. If you think its been long time of delay in withdrawal, then we have the option to cancel the withdrawal and your funds will be credited back to your mtgox account.
Please let me know if you have any question.
Best regards,
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

 COMMENT: A BANK THAT CAN NOT PROCESS MULTIPLE WIRE A DAY? COME ON! BANKS CAN PROCESS THOUSANDDS OF TRANSACTIONS DAILY!  A BANK THAT NEEDS TO APPROVE THE CUSTOMER´S WIRES??? 

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 Steven, Sep 28 04:05 (JST):

That is a lie. Banks handle thousands of transactions per day!
Steven
Peter Support, Sep 29 04:31 (JST):
Hi Steven,
Thanks for your email. We apologize for the delay in processing the withdrawals. We agree that banks handle thousands of transactions per day, however our bank has imposed us to process only very limited withdrawals on a daily basis. Due to daily withdrawals limits there is a huge backlog of international wire transfers to be processed.
We are talking to various banks in Japan and across the globe in order to process the withdrawals faster. Also we are trying to find alternate ways through which we can clear the withdrawal requests. We hope that the backlogs will be cleared soon and the withdrawals will be processed as expected. If you wish to cancel the withdrawal and have funds credited to your MTGox account currency wallet, please let us know.
Best regards,
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

COMMENT: SO NOW IT IS NOT IN MTGOX HANDS TO PROCESS FASTER THE WIRE REQUEST?? IT IS NOT A QUESTIONS OF THE BANK APPROVING WIRES THEN?
NOW WE NEED TO BELIEVE THE BANK TELLS MTGOX HOW MANY WIRES THEY CAN REQUEST??????

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Steven, Sep 29 12:17 (JST):

X= people processing wires at Mtgox
Y= wires per person per day
Z= pending wires
Make z/x/y and tell me when will you process my wires!
 Thomas Support, Sep 30 02:33 (JST):

Hello,
Thank you for waiting and sorry for the delay. We are processing the withdrawals manually. We are still working with our bank to have the issues sorted and we expect to have this sorted out soon. Processing manually it involves lot of man power and time and we are doing our best to do this and your withdrawal should be processed soon. So as of now we do not have an ETA to followup and we are unable to determine the exact time frame for withdrawals.
Let me know if you have any question.
Best regards,
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

COMMENT: MANUALLY PROCESSING? REALLY?? WHY CANT THEY MAKE THE SIMPLE Z/X/Y AND GIVE ME AN ETA....NOW I REALLY START TO GET SCARED ABOUT MTGOX PREPARING A BIG SCALE SCAM

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 Steven, Oct 01 00:12 (JST):

You are starting to repeat the incomplete arguments. Just calculate how many pending wires you have and divide that by the number of wires you process in total per day….and tell me when the hell my wires will be processed!!!!
I have the feeling you used the money or you are making financial gains out of it and you don’t want to return it!!!
  Thomas Support, Oct 01 02:09 (JST):

Hi Steven,
Thank you for waiting and sorry for delay. As advised please note that we do not have an ETA at this point for processing withdrawal as our bank is processing withdrawals very slow and we are putting the best efforts to have this issue sorted out soon, so we kindly request you to wait until your withdrawal is processed from our as you have already said that you do not want to cancel your withdrawal. Also we will keep you updated once your withdrawal is processed.
Best regards,

 COMMENT: HOW MUCH TIME DO MTGOX NEEDS TO GET A NEW BANK TO DO THE JOB???? THIS IS SOMETHING THAT CAN BE FOUND WITH A COUPLE OF PHONE CALLS!!!  IS THIS A SCAM????

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 Steven, Oct 01 02:25 (JST):

“Very slow” means how many per day? Divide pending withdrawals by that number and you can tell me in how many days I will get my money back.
It is a very simple calculation and question, unless you are hiding something
  Thomas Support, Oct 02 03:20 (JST):

Hello Steven,
Please note that we do not have an exact count and we are sorry to inform you that we will not be able to give your calculation or an ETA. However we are putting in our best efforts and we will keep you updated once your withdrawal is processed from our end. We really apologize for the inconvenience that this may have caused.

Best regards,

 COMMENT: THEY DON'T HAVE AN EXACT COUNT OF PENDING WIRES????????????? BULLSHIT!!!!

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Are you in the same situation? have you gotten your wires? please share your experience and make this post go up on the search results to warn potential investors to think carefully before putting money with MtGox....that they might never get back 

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February 25th, 2014

I have to sadly say I was right. MtGox ended up being one huge scam. They stole almost 400 million US$ from thousands of bitcoin owners who trusted them.
We could think they where just stupid assholes who lost the money through technical bugs and holes, but they lied once and again and again to us. This is not a result of technical mistakes. They plain and simply stole the money.

This is what I think is going to happen; The bitcoins they have on their system are going to be sold at other exchanges making huge profit. The money will come back to MtGox as soon as they put it back online, and they will be able to buy again the bitcoins at less than US$50 each, as they control-avoid any withdrawal. People are just hand-tied and will sell at any price (hoping they will be able to withdraw some money).
This is going to be done by them, or by some investor ready to make 1000% profit by silently buying MtGox.

Anyway, they screwed all of us and we should make them feel ashamed.
Post here your case if you have been screwed too.