Post
Topic
Board Service Discussion
Re: Mt.Gox SCAM? $38million disappeared. Large sums affected.
by
Artlover
on 10/02/2014, 02:17:59 UTC
USD issues have been stopped while they are under investigation.
Uh, no.

USD withdrawals were stopped in June of 2013 because they were not registered in the USA as a money transferer. They filed the paper work, became registered and reopened USD withdrawals back in July of 2013. Except, it has never actually "worked", with some withdrawals taking upwards of 2+ months, many never getting them at all.

Interestingly enough, if you read MtGox's news on the matter, they used the excuse of increased volume/demand for why they shut down USD withdrawals in June while they made improvements to the system. I can't find anywhere on their website where they even mention their problems with the FED's and banking regulations in this country.

As far as investigations. Silkroad investigations were mostly last year and why the $5.5 million was seized from them in May of 2013. While I'm sure there still investigations going on, especially after the Charlie Sherm incident, that would not cause the shutdown of just USD withdrawls. Makes no sense anyways since much of Silkroad's business was tied to users (both buyers and sellers alike) in other countries besides the US. What it would (and DID) do is cause the funds in specific individual accounts suspected of being involved (everyone who used BitInstant) being locked (which seemed to effect AUD holders more then anything).

To get back to a previous point. They used the excuse of increased volume/demand. Where have I heard that before? They already have an established history of lying about reasons for what goes on there using the same old worn out excuses. I should believe them now why?