Quote from: Nagle on August 23, 2013, 07:33:29 PM

Quote from: sturle on August 23, 2013, 03:34:44 PM

Yes. Delay for SEPA is up to two weeks, in most cases less than a week. I also got some information from MtGox today: SEPA withdrawals are sent to the bank very early in the morning. In practice you can expect it will be sent next business day at best. Huge SEPA withdrawals (not to worry about unless you have trusted status) get lower priority unless the user inform MtGox in advance.

That's not "working". That's a debtor in financial trouble.

SEPA withdrawals working faster than ever, and next day JPY withdrawals always working is not a sign of financial trouble. Some high volume days more than 20% of their volume has been from sales in JPY and EUR. I expect those money leave for arbitrage pretty quickly, and look! Difference between exchanges went down pretty fast as well! So far nobody has complained about late domestic withdrawals, except one who got it late because he misspelled his Japanese name. And how on earth could MtGox have spent tens of millions in half a year, which would be required to get in financial trouble?

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None of that delay comes from money-laundering regulations or conspiracy theories involving governments. This is plain, ordinary "they don't have enough money" stalling.

Please elaborate. In the time leading up to this, the following happened:

SEPA amount per day limit hit (a very long time ago). Many Europeans choose international wire instead.
LR was busted, AurumExchange closed. Withdrawal to several e-currencies no longer possible.
OKpay stopped dealing with Bitcoin exchanges. Another popular withdrawal method gone.
Dwolla stopped, all US customers now have to use international wire.
MtGox overloaded their bank with small wire transfers which would normally have gone through one of the methods above.

This was a short summary of the official story, and it looks perfectly plausible to me. What I have trouble believing is some diffuse story about MtGox somehow wasting tens of millions of USD to become insolvent. You need to elaborate on that.

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Mt. Gox's customers need an audit of Mt. Gox. Where are all those US dollars right now?

In their bank accounts, of course.