Customer assets are customer assets. It doesn't matter if they are dollars, bitcoins or bananas. If BitFloor does not have reserves (and that was reported in OP) or any other way to make customers whole, then this is a bankruptcy case. This exchange is operating in the U.S., there are very specific laws as to how to proceed.
Disbursing funds to some customers and not others would be a criminal act under those.
I believe a court order (injunction) should be filed to help ensure the exchange operator proceeds as prescribed by law.
Disbursing funds to some customers and not others would be a criminal act under those.
I believe a court order (injunction) should be filed to help ensure the exchange operator proceeds as prescribed by law.
Bitcoins were stolen, not cash. That cash is not Bitfloors to distribute to other customers. It's mine.
Doesn't work that way in the U.S.
A quick search and I couldn't find the exact description about how customer funds are pooled (giving a net balance), regardless if the account had a balance of securities or cash, then disbursed.
Here's from Canada, which is pretty much the same in the U.S.
^^^What total idiocy. Next time, listen to your intellectual superiors instead of the low-information voices in your hollow shell of a head thing.
After careful consideration, ACH withdrawals of USD from Bitfloor will soon be re-enabled, with details to be posted on bitfloor.com.
cheers,
~Roman
cheers,
~Roman
Bwah-haha-hahaha! Gornick jurisprudence FTW!!1!
Please Steve, tell everyone "how it works in the U.S." again. Share some more of your hilarious 'Canadian legal wisdom.'
I could use another good laugh at your (thieving communist) expense.
