Does that "volume" include the massive withdrawals?

There's speculation that Bitfinex may not have enough assets to cover all the withdrawals. We should know in a few days. If Bitfinex starts delaying withdrawals and making excuses, they don't have the money.

OK, Bitfinex is supposedly back up and processing withdrawals after the "haircut". Are withdrawals happening promptly?

Obvously, you want to withdraw everything you can immediately and never deposit anything again.

There's a option for US customers - arbitration in San Diego, California. See Bitfinex's terms of service. The American Arbitration Association's commercial rules apply, which means for claims up to $75,000 arbitration will cost $1000 up front and an additional $1000 if you lose. Click here to start the arbitration process.

This isn't a complex case. You put money into a Bitfinex account, and they're refusing to pay it back. Any claims of theft are their problem, not yours.

Bitfinex tried to control the process by naming their own arbitrator: "The arbitrator shall be Michael J. Lee, an attorney in San Diego, California or a substitute arbitrator agreed to by a majority of the three parties to these Terms of Service."  But there is no Michael J. Lee in San Diego on the California Bar Association's attorney list. So that clause does not apply.

There are AAA rules and federal laws about arbitration. Having insisted on arbitration, Bitfinex can't make it one-sided. An arbitrator can't be associated with one party; there are procedures for challenging an arbitrator. ("Unless the parties specifically agree in writing that the party-appointed arbitrators are to be non-neutral, arbitrators appointed by the parties in this manner must meet the impartiality and independence standards set forth within the rules ")

If you win an arbitration award in the US, it can be enforced in Hong Kong. Between 2011 and 2014, the Hong Kong courts never failed to enforce an arbitration judgement.

For claims under $75,000, the median time from filing to award is currently 175 days.

In practice, if you file for an arbitration, you're likely to get an offer of settlement, because Bitfinex is going to lose.

Want to bet there will be "withdrawal delays" when they reopen?

Four days to go.  For many machines, ROI now becomes negative. Who's out?

Anyone found "Big Vern" yet?  He's supposedly in China.

Why would anybody buy the company? No assets, no brand value, and a CEO on the lam.

The US doesn't have an extradition treaty with China. On the other hand, China may decide they don't want to give "Big Vern" permanent residency and kick him out as "likely to cause harms to the national safety and interests".

The US does not have an extradition treaty with China. However, sometimes the Government of China will deport American crooks and let the US have them, and sometimes the US will deport Chinese crooks and let China have them. Also, "Big Vern" will have to get a residency permit in China to stay there for long, and that can be denied.

Talk to the law firm that's suing Cryptsy. They might make you an better offer.

"Big Vern" needs to be found and arrested for fraud. If you lost money in Cryptsy, you need to be talking to the Florida cops.

Does anyone know his whereabouts? Is anyone trying to have him arrested?

Were.

"cryptsy.com" is down, the offices are vacant, the CEO is missing, and the assets are involved in a divorce case.

It's too late. "Cryptsy.com" is down, the offices are vacant, the CEO is missing, and the assets are involved in a divorce case.

The Cryptsy site is down. Maybe forever. (Their blog, "blog.cryptsy.com", is still up, but that's hosted by Tumblr.)

If you had money in there, it's time to file a criminal complaint and get an arrest warrant issued for Paul Vernon.


WANTED for Grand Theft

"Withdrawals "may take some time" due to elevated website traffic."

Or, in other words, they stole the money.

Because the buy/sell spreads are huge (10% is common), there are substantial fees, the machines cost far more than standard ATMs, and the companies behind them provide lousy support or go out of business.

Robocoin stopped selling real Bitcoins and started selling access to Bitcoins via their "hosted wallet". "Hosted wallets" have a terrible track record. You don't own the Bitcoins, the wallet company does. They just owe them to you.

Right, advice from the convicted felon who said everything was just fine at Mt. Gox.

Yes. That's what I said once Gox started to show delays.  Any exchange having unexplained problems with withdrawals is probably broke.

Remember, if they have all the customer assets they should, withdrawing won't hurt them at all. If they don't...

"To the moon" was the slogan of Paycoin about a year ago. That didn't end well.