Quote from: Goldenmaw on August 11, 2011, 04:53:33 PM

It's August 11, and still no word on the wires. My money is still in limbo, and my emails don't get replied to. This isn't looking good. Any chance of a status update?

Hi Golden,

As of today we activated a new bank account that can execute transactions. 90% of delayed transactions will be executed today, Monday, or Tuesday. You will receive an email once your transaction is executed. We have been responding to 90% of the emails each day as of 5/6 days ago. Our average response time has increased from 2 hours to 12 hours due to the volume of emails received.

We regret the delays and have been working non-stop to arrange new accounts. We did not want to start executing transactions from new accounts until we had built redundancy into our banking arrangement; that is, at least two fully funded back up accounts at seperate banks. We have almost accomplished this task and will be reopening deposits via US wire service very soon. The same redundant configuration now exists for our Euro SEPA deposits and withdrawals.

We have been completely forthright with our banks as to the nature of our business, the nature of Bitcoin, and more. In doing so, many banks decided to remain on the sidelines. However, the banks that will be working with us are fully aware of our operations and arent expecting any surprises.

One reason we love Bitcoins is because you mustnt rely on banks. As an exchange, we hold the front line in dealing with banks to ensure people can get cash for their Bitcoins. Until Bitcoins level of ubiquity relinquishes us from this necessity it will be our responsibility to ensure continuous service. Our ability to do this will determine our popularity in the long run.

We take full responsibility for our mistakes and our accomplishments and remain committed to our goal.

Thank you for your patience, your thoughts, and your interest.

Regards,
Adam Tradehill