To Tort, James Murrell and anyone else involved with Bitcoin2pocket and the website https://bitcoinexchangeltd.com

Bitcoin2pocket are carrying out a FRAUD. And, I believe the same people are now carrying out a FRAUD with a website called https://bitcoinexchangeltd.com.
I suggest nobody goes near them and sends a report to the police.
These two companies are carrying out an Identity Theft of my name and my company's business address. 

My name is James Richard Iddiols and I am the CEO of Bitcoin Exchange Ltd, the owners of bit121 with a website address of www.bit121.co.uk which is our only website address.
We do NOT have a website called bitcoinexchangeltd.com.

My name (James Richard Iddiols) is plastered all over the bitcoin2pocket website and in blogs.
It is highly unlikely that the owner of bitcoin2pocket has the same name. They certainly do not trade from our address, nor does he run Bitcoin Exchange Ltd. He has damaged my good name and that of my company and our exchange. I have notified the police by calling the number on this site www.actionfraud.police.uk. and I suggest that anyone else involved with either bitcoin2pocket or the website bitcoinexchangeltd.com do the same asap. 

Anyone who are being scammed by these two companies can contact me via the bit121 email address (info@bit121.co.uk) and we can arrange to talk by telephone. I can also provide anyone with the Fraud Report Reference Number.

(By the way ... the moderators who run this website ... do you do anything to stop this sort of thing. In effect, you are advertising scammers. When I press the report to moderator. What happens? What action do you take?) 

To Mr James Murrell,

I am sorry to have to confirm to you that you have been the subject of a fraud. My name is James Richard Iddiols and I am the CEO of Bitcoin Exchange Ltd, the owners of bit121. It is highly unlikely that the owner of bitcoin2pocket has the same name. They certainly do not trade from our address, nor does he run Bitcoin Exchange Ltd. He has damaged my good name and that of my company and our exchange. I have notified the police by calling the number on this site and I suggest that you do the same asap, www.actionfraud.police.uk.

You will note by clicking on my ID that I joined this forum 8th November, while the other James Richard Iddiols (owner at bitcoin2pocket) joined on 13th December and was last active on 18th December. Please contact me via the bit121 email address (info@bit121.co.uk) and we can arrange to talk by telephone. I can also provide you with the Fraud Report Reference Number. 

An update to Mr Murrell's comments.

Having done a search of bitcoin2pocket, I am now as upset and angry as Mr Murrell. Bitcoin2pocket is obviously a scam to which Mr Murrell has been a victim. The so-called company have used my full name as the owner (I assume they picked this up from bit121), so I suppose I am also a victim. I can categorically say I am NOT the owner of bitcoin2pocket. I'm obviously angry as this is potentially damaging to my professional and personal integrity. Naturally, I have reported this to the moderator.

I have to respond to Mr Murrell.

None of us engaged in bit121 have had anything to do with bitcoin2pocket.com. I have never ever heard of them. It is sad that someone has stolen £650 from you - but please ascertain facts before accusing innocent parties. And please be bothered to find details ... you won't find any. Now, you have also supplied a webpage: http://www.ccdni.com/director-james-richard-iddiols. All the facts on here are true (of course there is no mention of bitcoin2pocket). I will advise of the three companies listed. Bitcoin Exchange Ltd is the company of which I am CEO; Mizaco is "dormant" - we were thinking of using this name but decided against it. bit121 is "dormant" also - we registered the name as protection against our website brand.

So, I 100% reiterate - None of us has been involved with any other exchanges of any type and in any way.

 

From Jim Iddiols (CEO - bit121)

Please excuse my delay in getting back to you all. There is a lot of nervousness in the Bitcoin market and that is understandable and we need to do more to give confidence to our users. I will get more information to you through this thread and you are welcome to contact me at info@bit121.com.

Let me try and tackle your points one by one.

1. Firstly the order book has been requested many times and you are right that our order book was not strong to start with. This is understandable with a new exchange. It is now much stronger and we hope you will add to it. Because of the requests, we plan to put this in the next release. This is scheduled for the end of February. In the
meantime you can use the current method of buying and selling using the best available price displayed on the site. You will note that there is normally a small spread, showing a competitive market.

2. We have many customers that are happily trading and some have agreed to us posting their comments on our site. They are available on the news section of our home page now.

3. The note about cash payments not being allowed being a bit scary. It is supposed to be. If we take cash then we leave ourselves open to accusations of Money Laundering and that could put us out of business. Many exchanges have failed this way. It is for everyone's protection. However, perhaps we could explain this a little better and I will look into that. If you don't use cash, then there is no problem.

4. The deposit and withdrawal fees cover our costs of banking, anti-money laundering checks and administration. You will note that we do not hold your funds, they are held by a trusted Payment Services Provider. We pay for this service. This means that we cannot abscond with your money, as has happened with other exchanges. Some of you
have noted that. All in all I think we are very competitive, but we will continue to review our charges and will try and reduce fees, when we can.

5 Bank transfers into us are not instant. We are notified overnight and thus it can take us 36 hours to update.

6. We have no immediate plans for trading LTC, although we may well start providing this service in the future. We are concentrating on giving the best possible service for Bitcoins first, but your comments are helpful.

7. I note that one of you has had a problem with email but unfortunately you have made a typo error in the email address. Our email is info@bit121.co.uk and NOT info@121bit.co.uk.

8. We use Hushmail and Cloudflare to improve our security against hacking, although we do not keep bitcoins on the site (they are held in cold storage). We appreciate that this may not be the most convenient security method, but we will not take risks with our customers security.

9. We understand that we need to make our address more visible (although all you need to know about Bitcoin Exchange Limited is in the public domain).  We will, but we are about to move, more anon.

10. We will publish our VAT number, when we receive one.

11. None of us has been involved with any other exchanges of any type and in any way.

Please email us with any questions and thanks for your help. I will get back sooner next time.

Jim Iddiols
CEO

Hi,

Jim Iddiols again from bit121.

Thanks for the comments. Much appreciated.
Just to advise ... we have a number of people who have now used the exchange, traded bitcoins, deposited and withdrawn funds. We're pleased how things are going!
I'm not sure if you are aware, but we have also reduced our trading fees to 0.25% for everyone. (Home Page looks a lot better too!)

It would be great if some of our customers were to add a comment or two.

For anyone who want to know a little about me, please see my profile on LinkedIn. 
uk.linkedin.com/pub/jim-iddiols/2/113/875


 

Hello. This is Jim Iddiols, CEO of bit121.co.uk.

Our bitcoin exchange has been operating for nearly a week now and I would like to express my thanks to all who have registered and especially those of you that have started trading. We hope that you have had a good experience and will spread the word.

As a result of the much appreciated comments and feedback already received, we are pleased to advise that we have reduced our deposit and trading limits. Our minimum deposit has been reduced from £500 to £50 and our minimum trade has reduced from 1BTC to 0.1 BTC. We have also prioritised our plan to implement 2 factor authentication and hope to implement this soon. Just give us a little time.

We are very pleased with our first week of operation. We have received a very satisfactory number of new registrations of which a good number have gone through the verification process and have executed trades. To date, all deposits and withdrawals have gone through very quickly – all have processed within 48 hours. And we have received some very complementary comments about the layout, format and information provided for our customers in the Account Statement. In addition, our cold storage security procedures are working successfully just as we expected. The downside of this is that you may have to wait up to an hour, when you withdraw coins, while we take them out of cold storage.   

Finally, we do appreciate that our site may not be the most attractive, but our immediate priority was on functionality rather than looks, and so far we are very pleased. We hope you will join us.

Best Regards
Jim