Bitcoin Forum

Similar to what another user, kr1, encountered earlier this year, I am having significant problems withdrawing cash (close to USD60K) from igot (http://www.igot.com). This is despite me speaking directly to the founder, Rick Day, as a "premium client" dealing in significant volumes, and continued assurances from Rick that I will get my money back "soon".

I never imagined going public with these issues, but am doing so after receiving continued false promises. My experience with Rick and igot have been extremely painful and I do not wish for others to go through the same experience. Here is the rundown of events:

1. Am a "premium" client dealing personally with Rick Day on account matters. My account was opened early April 2015.
2. Rick promised to "send the payment out within 48 hours (2 business days)" as part of an agreement for me to provide large BTC volumes.
3. Did a number of transactions since early April 2015. These involved selling significant BTC volumes and receiving cash in return.
4. However, cash withdrawals never met the 48 hour turnaround, and progressively got worse - Degrading from an initial 7 days per refund to 15 days. There was even an incomplete refund that igot did not bring to my attention, which I had discovered only after I had reconciled the withdrawal and received amounts.
5. Rick kept providing assurance that monies will be received "soon" and would "improve" whenever I questioned the long payment times.
6. I requested the following withdrawals (total >50K USD) after progressively selling 250BTCs:
   - Around USD12K on 30 April 2015
   - Around USD12K on 1 May 2015
   - Around USD24K on 3 May 2015 (2 withdrawals of USD12K)
   - Around USD12K on 8 May 2015
7. Despite repeated assurances that the money would arrive "soon", "shortly", etc. none of the funds for the above withdrawals arrived. I ceased transacting with igot after 8 May, upon realizing that withdrawal times never improved.
8. After threatening to go public on the withdrawal issues, Rick finally admitted on 14 May that "There are some delays due to our bank account closures in past 2 weeks. We've lost some big bank accounts. As a result, there is additional strain on the daily limits.", and promised to have all the funds returned "by Monday or Tuesday" (ie 18-19 May 2015).
9. I received no funds on Monday, 18 May, and regularly requested for Rick to update me on the status. As of 19 May, there have been no funds received and no response from Rick.

I'm speaking directly to the founder of igot, and am already having major issues. igot's Facebook page has people complaining about cash and BTC withdrawal delays, and I can imagine the countless, silent others who are facing the same issues.

A possible scenario is that igot is running a ponzi scheme, repaying previous clients with new client monies, hence the progressively longer withdrawal times. Another likely scenario is that the company is out of cash.

For those intending to transact with igot - My sincere warning is to walk away! For those of you (https://www.igot.com/static/about) who are complicit with running this scam that is igot - SHAME ON YOU.

Hi Lee,

As Rick has explained, we have had issues with the banks. Obviously, being a bitcoin company means some banks aren't always friendly or consistent in their attitude, and do this odd/not very business-like thing of opening an account for us then withdrawing it some time later.

Other exchanges, such as Safello and Coinfloor, have had the same issue if you read the bitcoin press.

Rick has been arranging new accounts over the last few days and the delays we have had over the last few weeks should be a thing of the past very soon.

We're sorry our customers had to suffer longer withdrawals than either they or we would like. And, yes, there were a few people who had commented on Facebook for the same reason, but all have been paid out.

I have double checked with our support team, and your payments have definitely been made, Lee. The first should arrive within a day and the others within the next few days. Please accept our apologies again for the overlong wait.

I hope this clarifies the situation.

Regards, Dan (dan@igot.com)

Hi Dan,

I would have accepted this explanation if not for the fact that Rick gave the same assurances many times and the monies never arrived. You have no idea how aggravating my experience is dealing with Igot, trusting you guys with my money and having to claw each payment back like I owed Igot a living.

I'm certain there are many others in this situation and I do personally know one of them. For their benefit, I will keep this thread bumped until I get all the outstanding payments like you promised.

If Igot is an honest business, you should stop accepting client money/BTCs until the operational issues are thoroughly sorted out.

Hi

We are an honest business, but it isn't all customers that are having delays (bank issues are regional) and shutting down operations would be an OTT reaction.

Your payments have now started arriving in your bank now (as you have confirmed) and we are endeavouring to get things back to normal asap. I would ask that you please bear with us while we fix this temporary service issue.

Thanks, Dan

It is high time people do understand the risk of using centralized bitcoin shops. They require verification, get hacked and a hell lot of other problems. It is better to use direct trading exchanges with far lower trading fee, e.g. 100bit.co.in (http://www.100bit.co.in) allows to trade @ 0.1%.

This is so not cool, payments getting delayed from IGOT, i use them some time back and now i wanted to use their service again but after going through this thread i wont risk as of now.

Please keep us updated on this thread if you have received your money or not.

Thanks

I'd advise you not to use them. Their issues are not recent, and has been going on for quite a while. Here's an issue encountered by an earlier user.
https://bitcointalk.org/index.php?topic=1004177.msg10928878#msg10928878

I should have avoided them like the plague after reading that thread, but I foolishly went on to trade with them due to their better selling rates. It turned out to be a trap.

Update (as of 3 June):

• Two payments pending. Oldest pending since more than 30 days back.

ok cool thanks for keeping us updated, i'll be visiting this thread frequently to check for updates. Thanks again.

Beware and avoid this one. They seemed originally to be legit but I suspect are now having financial difficulties

Just made an account to reply to this thread.. I am waiting on a 20BTC withdrawal from igot which has been pending for over a day now.. I wrote in on their facebook page and was directed to send in a support ticket so I did... It has now been over 12 hours and still no response.. the iGot page manager told me I submitted the support ticket in the "wrong section" but wont tell me where the "right section" is. Now after reading this it is certainly starting to sound suspicious.

The banking information given is relation to a company called "13th Pty Ltd" Could be worth looking up on the Australian Business Register as they do need to provide an address and contact number.

Hi, my outstanding cash payments are equivalent to 100BTC, and I have been waiting for more than 30 days for the cash to arrive. I feel for you, but there's nothing you can do but to keep chasing them for your payments/BTCs. They had again promised to refund my cash by the end of this week, but as expected, it's another huge disappointment and I received nothing. The company cannot be trusted.

Here are the email addresses of igot staff. The founder is Rick Day:
Rick Day <rick@igot.com>, julia@igot.com, Daniel Palmer <dan@igot.com>, Amit@igot.com, Vignesh Raja <Vignesh@igot.com>

Update (as of 5 June):

• Two payments pending. Oldest pending since more than 30 days back.

thank
i'm going to add this site on my black list

I just got a support ticket back from Julie with the following:


I responded with:


Considering I just sent them $6k @igot_user_03773356 and youve sent them 100btc, I dont see what the hold up is... sounds like a simple swap to me.. But hey, If you ever wanna trade  igot_user_03773356 and take out the slow as hell middle man I'll be more than happy to  ;)

The same with me. I am "glad" I found this forum about iGot, but I wish it would never be in such circumstances. I am in UAE. They opened here with trumps and drums in 2014.
I withdrew some fiat, but it took about 2 weeks to clear into my bank account. Now I am stuck with another fiat withdraw for about 3 weeks! I have been e-mailing with Dan. The same answers all the time: upgrading, bank issues, hackers, DDOS, illegal transactions, etc, etc. I really do not what is going on, and how much is truth or just BS. Dan, Mark and their representative in UAE all said that by this Monday 8/6/2015 iGot's bank account will be unblocked. Hope so. Otherwise, they will face lots of troubles worldwide. By now I do not want to add more timber to the fire, and see what happens next week.
Regards

Faced heavy delay in BTC withdrawal so after using it for long time we decided to discontinue :(

To be honest, it will be a lot easier for igot to refund you in BTCs than in fiat because there is no need to involve the banking system. That's one of the advantages of using BTCs in the first place! Don't mean to be alarmist, but you may end up in my situation after agreeing to be refunded in fiat...

We have to assume the worst and believe that a lot of what they say is BS. I've transacted with a number of exchanges and igot is the only one with such problems. In fact, I've been speaking with Rick Day (the founder/chief conman) on my withdrawal problems since Day One as I transact with relatively large volumes. Rick keeps promising that I will receive my cash "shortly", "imminently", etc, but this never happens.

Their Facebook account actually had a number of people complaining about long withdrawals, but their social media people kept scrubbing off those negative comments. I'm very certain there are a lot of silent victims out there.

Not being able to send coins that they are supposed to is a major red flag.

Bank issues can be a legitimate excuse for fiat payments, but not when they are dragged out for this long, but why on earth can't they process a btc transaction until monday?

Hope you guys get your money back, but I hope others can learn not to fall into this trap.

Hi Dan,my names is James account  #05335136. I am a God fearing christian who for the last 2 days have been loosing sleep and praying and praying that the news ive been reading about igot.com is not true. 4 or 5 months ago, you opened for business in Kenya and since you then i have been a loyal customer. I have almost 8 Bitcoins waiting for transfer since Thursday the 21st of May and this coming Thursday, June 11th, will be exactly 30 days since i asked for my bitcoins to be withdrawn. This may not seem like a lot of money, but in Kenya, where 80% of people make less than $1 a day, it is a lot. In fact, it is my life savings, everything i have. I have saved tirelessly for the last 6 to 7 years to get this kind of money and my wife, my son and my family need this money.
     
      After reading the comments above, i sat and prayed, in Jesus name, that all the negative things i was reading were caused by misunderstandings and not because igot.com is broke. I prayed, in Jesus name, that all these issues you have will be sorted out within the next couple of days. I opened a support ticket weeks ago and i have written six times and i always get the same reply, "we are upgrading our systems and cannot release bitcoins" Today i got a different reply, it stated that, and i quote "There are some massive bugs with the wallet system that we're fixing..................I've canceled the transaction for now and if you want to sell your bitcoin and buy from elsewhere, you can do that." I am very concerned about the last part of the message, why was my transaction cancelled? I do not want to sell my bitcoins, because the price of bitcoins is a lot lower than i bought them and therefore i will be loosing a lot of money. All i want is my bitcoins withdrawn, so i chose to withdraw again and i'm praying that it goes through this time. I also hope and pray, that since you decided to cancel my transaction, that i don't get put me at the back of the waiting line and my bitcoins are withdrawn successfully. Once again, i pray, that your problems will be solved and i will get my bitcoins as promised, in Jesus name AMEN

@sankale: Sorry to hear about your problems - we're all in the same boat. Would advise you to try all channels and create as much noise as possible so that you get attended to. You can reach out directly to igot staff. The founder is Rick Day:
Rick Day <rick@igot.com>, julia@igot.com, Daniel Palmer <dan@igot.com>, Amit@igot.com, Vignesh Raja <Vignesh@igot.com>

Or raise a ruckus through their Facebook page (but negative comments usually get purged after a while):
https://www.facebook.com/pages/igotcom/191028684435836?sk=timeline&ref=page_internal

Theyve told me via support ticket now that my Bitcoin withdrawal will be processed monday.. If it isnt I will be perusing avenues with the Australian authorities as they are an Australian registered business (Department of Fair Trading, Police, Commonwealth Bank). I would recommend everyone do the same.   

Can you give us the email and contact numbers of this Department in Australia? I also advise all customers to take screen prints for documentation, just in case they plug off.

@sankale I know that in Kenya that amount is a fortune. They are destroying your economy and your family future; moreover, having kids involved it is thousands times worse. That is called cruelty. Abusing the most vulnerable in the world. Big shame for them. God will protect you and your family. God will make justice. Bless you and your family.

I don't use there services now they always had delays from starting and now this has become worst. They will collapse soon. I think they are running Ponzi.

You can make a complaint or investigation here: http://www.fairtrading.nsw.gov.au/ftw/About_us/Contact_us.page? (http://www.fairtrading.nsw.gov.au/ftw/About_us/Contact_us.page?)

@igot_user_03773356, @bitcoin.babe

What is the update? igot seems to have stopped responding too..
It looks sad but I'd not lose hope. Keep nagging them.

No one who reads this will ever use them. What are they thinking?
@op, you should link this thread to all places where they advertise.

I was told a monday withdrawal. but nothing has come through yet. again I tried to message support via the website and facebook page with no response thus far. Will be putting through complaints with government departments now.

Still no cash received despite all the promises they gave last week.

Update (as of 8 June):

• Two payments pending. Oldest pending since more than 35 days back.

Curious to know how many people have filed a complaint with Fair Trading?

Not yet. But soon I will.

Update:

After reporting igots account to commonwealth bank, Fair Trading and the police, I can confirm my money has been returned. Goes to show if you kick and scream loud enough you get your way in the end. If anyone else is having issues with recovering funds please contact me on bitcoin.babeau@gmail.com and I can put you onto the right channels and people.

All the best to you all. Especially igot_user_03773356. Please keep me in the loop. I know it sucks to lose a lot of money and I would love to help you (and others) any way I can.

I'm really glad that you got your money back, bitcoinbabe. Unfortunately for myself, I've received none of my money. I'll reach out to you via email to understand what you did.

Hi, its tuesday now, actually wednesday where im at. I dint get my bitcoins, did you? Or anyone else on here?

I've been waiting almost a month for a 2btc withdrawal and have more than 30 btc sitting on their exchange.  Pardon my French, but I am shitting my pants over this. My life as I know it is over if they steal those coins.  😢

Latest reply from Igot regarding my BTC:

"Thank you for your email.

We’re currently deploying new code and are hopeful this will resolve the wallet issues.

We expect things to get back to normal soon.

In the meantime, if you wish to sell your bitcoin and cash out, we are happy to offer $5 above our sell price per bitcoin in your local currency.

Regards,

Julie"

Should I cash out or sit tight???   According to Reddit, It seems like people are slowly getting their money/BTC.

I would get out whatever you can however you can as fast as you can.

"new code" makes less sense than bank issues. What could possibly be wrong with the code to stop a person from manually sending you the amount of bitcoins that you need?

There are a flood of complaints against igot. This could be a global ponzi scheme:
http://www.reddit.com/r/Bitcoin/comments/38l4ky/has_anybody_else_had_an_issue_with_igotcom_lately/
http://www.reddit.com/r/BitcoinMarkets/comments/37tntv/australian_exchange_igot_a_scam_28_days/crrvmt8
http://www.reddit.com/r/Bitcoin/comments/38h8f9/igotcom_get_scam/
https://twitter.com/iGotcom/with_replies
http://www.coinjabber.com/site/www.igot.com

I'm still getting empty promises and no refunds.

Update (as of 10 June):

• Two payments pending. Oldest pending since more than 38 days back.

igot_user_03773356's  and bitcoin.babe's cases seem different. One is fiat, other is BTC. So if one is resolved doesnt mean other will be. I'm surprised they returned the btc but not the fiat. Maybe their bank accounts are frozen?

BTW congrats bitcoin.babe on getting funds back! Good luck igot_user_03773356!

Let these crooks burn in hell, they did not return my money.

@horic: I really feel for you man. Exchanges like Igot makes one lose faith in the future of crypto currencies. No way the person on the street can stomach such risks.

Update (as of 11 June):

• Two payments pending. Oldest pending since more than 39 days back.

Update: My BTC transfer went through today!  :) .... Only took a month. :-[

Still nothing from those crooks. Am pending refunds for 100 BTCs since 40 days ago.

20+ BTC pending.

They are obviously lying when they say that they are updating the site. No update takes more than a month.

We should team up and report their bank accounts so we can close their accounts. Otherwise they will be taking deposits to scam more people.

Update: Received 1/6 of my outstanding payment. Pending around USD20K. Still chasing Igot for the remaining amounts.

One of my friend also have 20 BTC stucked in igot.

From this post:


Cash out.... but how will you receive the fiat? Has anyone successfully received the "cashed-out" fiat? How long did it take?

I see no more complaints. Perhaps fiat has been received. Let me know please. I have some fiat withdrawal pending.

I finally received my small btc withdrawal after 27 days.  I'm concerned for the rest of my coins they hold but I don't wanna even try and withdrawal the rest of my coins while that bloody splashscreen is still there warning me of their 6 week long wallet upgrade....

I would start the process now. What legitimate reason could there be for them to not send you back your coins if they still have them? If you wait they will run out of coins and you will be more fucked.

Hey otorongo, Igot still owes me around USD20K since more than 45 days back.

Don't worry guys, you must have received the confirmation saying,

"Please note: it may take 3 to 7 business days to receive your payment in your verified bank account. Established accounts can expect money within 3 business days."

 :P

I've been reading a large number of complaints about igot delays here and on Reddit. It's possible it could be a scam. Here's a compiled list of complaints:

http://www.reddit.com/r/BitcoinMarkets/comments/3a0wrr/igot_scam_continue_with_list_of_victim/

Oh well.

Dan from igot here.

I am happy to report that we have successfully deployed our upgraded wallets and a normal service has now been resumed. All customers who had bitcoin transactions pending have now received their funds. We still have a few customers awaiting fiat payments which will be sent shortly.

We'd like to apologise for the delay and any inconvenience this has caused igot customers. To thank you for your patience, we will be dropping our buy/sell commission to 0% for 30 days.

So far, with delays, but they did my withdrawals. So I have some relief now. Still I have funds in my account. We will see how their system will behave in the future. I not trying to induce anybody, but IF it looks stable I will put more money in my account for trading. Good luck to everybody.

I'm apparently one of the "few" customers. Am still owed around USD20K more than 50 days back.

Good luck getting your money back brother

Argh sounds horrible and makes me ashamed being an Australian to see this happen from an aussie exchange.

I've always used https://btcmarkets.net/ (https://btcmarkets.net/) and they've been reliable with someone lower fees. I've purchased around 200btc through them and transferred 100btc at a time without issue (small delay of 30-40 mins as they manually verify larger amounts it seems). They use KYC verification at the start through a government check service (submit your medicare and a few other infos that I think validates and gives btcmarkets a yes or no... don't think btcmarkets hold your personal info can't comment here though).

Try them if you want an aussie exchange in the future.

Hope you get the rest of your funds back soon.

Agree mate. Its shameful. Are there any good alternatives in Australia? How does bitstamp work for Aussies?

use http://btcmarkets.net they seem legit over my 6 months of use and volumes up to 100btc. they have contact numbers and addresses so you can go visit them. They are prompt on return emails and offer an api as well.

37K SGD has been stuck by igot.com for 11 weeks.

The founder gave me a broken promise again.

I should find a lawyer to file a suit.

All I've ever heard about igot had been negative. Why are people still bothering with them. Blatant scam.

horic, same here. Rick personally promised a payment each week the past two weeks. But they were all lies. Did the folks in the reddit chat get their money and BTCs back?

I heard that small amount has been paid, but they couldn't send big chunk yet.

Last Monday, Rick promised again and I am waiting for the withdrawal. same situation again.

They should pay 70 days interest to you. What a bullshit company. SHAME ON THEM DOING BITCOIN BUSINESS.

any new excuses? silence? or just "delays?"

48 hours gone and there is no reply from them.

Dan seems to be out of office for a week.

VERY VERY POOR SUPPORT - IGOT.

Not recommended to use Igot until they solve their issues.

Hello,

Jesse Chenard here.

I have no involvement in iGot Gleb and Monetago is in no way associated with that fiasco. I contemplated an investment but the company's accounting was in shambles and I backed away from it (unfortunately the PR had already gone out). Patrick is also not involved with iGot and has not been a part of it for almost a year now. Rick Day is the man who has been running the show and the one responsible.

As for colored pasts I am not sure what you are referring to. I am a well respected entrepreneur in the New York tech scene with about 15 years of startup experience. Feel free to follow the link you posted and I am sure you will see that. My intention in starting Monetago has been to do things right and not go for the quick buck like so many exchanges have done in the past.

If you have any further doubts about myself or Monetago I would be very happy to chat with you about what we are up to and my past.

Cheers,

Jesse

Hello Gleb,

The problem with syndicated articles is that when they are corrected at the source the syndicators dont always pick it up. If you look at the source for the article you quoted you will see that the original article does not include my name. That was because I sent Cointelegraph a note directly correcting them.

Syndicated Article

http://www.tonewsto.com/2014/11/bitcoin-exchange-igot-taking-remittance.html

Original Article

http://cointelegraph.com/news/112952/bitcoin-exchange-igot-taking-remittance-to-the-next-level-expanding-to-egypt-and-saudi-arabia

Notice the updated section

Launched in early 2014, Igot received funding early on to fulfill its global expansion plans.The startup has since been receiving few interesting financial proposals, explained Day, "but have not yet found the term sheet [they] love." According to Day, Igot's intention "is to get strategic investors on board, not just their money."

As you can see there is no mention of me. And frankly mentioning my name to get funding would be foolish as surely any potential investor would contact me.

I cant speak to Ricks comments about his co-founders but again, people can say whatever they want.

As to this statement:

Is it common practice to finance an exchange, look at their books, procure one of their principals, then start your own cryptocurrency exchange, a space unrelated to past endeavors?

I didnt finance the exchange. I did look at their books which lead to that decision. And Patrick was a friend before it all happened and was the one who enlisted my help to take iGot to the next level. When it became clear Rick wanted to move in another direction we formed Monetago to do it right. And yes, it is a new industry for me but I knew nothing about video or online advertising before I started two very successful companies in the space. When I see an opportunity I learn about it and capitalize on it. Legitimately.

Again, I am happy to speak with you on skype or any other mechanism to answer any questions you might have. I do not mean this to be combative rather informative.

Have a nice day and please let me know if you would like to chat.

Cheers,

Jesse

No worries Bruno. Nice to virtually make your acquaintance. I am always happy to help others with their ideas. If not for that spirit I would have never gotten anywhere in the business world. Feel free to reach out to me anytime.

As for iGot, my knowledge of the company is quite stale at this point. I can say that when I was helping them from an advisory standpoint everything seemed on the up and up. When it got closer to me putting money in I began a review of their accounting and found it to be less than organized. Rick was extremely resistant to any sort of an outside group coming in to set it right which set off alarm bells for me and I ended my involvement.

However after having spent several months getting to know the space I still saw a lot of opportunity so I started Monetago. My goal with this company is not to scam anyone but rather to come up with a more effective system of transferring value and wealth globally. In many of my ventures I have found myself with full control over bank accounts containing millions of dollars of investors money. Never once did it occur to me to take that money and run and the same would be said for any customer funds. Quite the opposite actually! I take great pride in my business ethics and have numerous references (investors, employees, former colleagues) who can attest to that.

At any rate, glad we were able to sort that out. I look forward to our next discourse!

Cheers,

Jesse

Haha! I dig your direct manner of speaking Bruno. Your secret is safe with me. Have a nice day eh!

Thanks so much for starting this thread igot_user_03773356 and I'm so sorry to hear of this disastrous delay in getting your funds out of iGot. I was a customer of theirs up until about 6 months ago when yet another ridiculously stupid mishandling of something just pushed me over the edge and I couldn't stand dealing with them any more. I (thank goodness) never had the massive delays you and others on here are now experiencing but their processes and explanations for why something didn't work or why my funds didn't arrive as expected (or a dozen other very silly things I kept experiencing) just started to drive me quite mad and I wondered how many other people must have been experiencing the same sort of stupidity.

So, having not logged on for a while. I thought I'd log back in to see if anything material had changed and whether I might use them to convert some BTC to fiat. Logged on last night and saw these warning banners:

https://i.imgur.com/1eQIZBM.jpg

Oh dear....

Did some quick Googling and found this thread. Thank goodness you've posted here, not that I would have even dreamed of sending BTC to an exchange advising they should have their fiat withdrawals caught up in about 2 weeks' time!

I would say they're collapsing. The fact they've had so much trouble with their banks and have had to change accounts tells me the banks they use are dissatisfied with how they've been running their accounts and are seeing risky/poor handling that's beyond what the bank will tolerate. I don't believe a bank would just suddenly pull their accounts on them without a serious reason for the bank to be concerned. I mean if they're a successful business and they're operating correctly with the bank making the usual fees off their account, why would the bank suddenly close their accounts and suggest "it's because of Bitcoin"? Something far more troubling is going on and, based on my experience, I can just imagine all sorts of mistakes and bumbling actions have occurred that's caused their banks to disconnect. There's a whole lot more to this story we're not being told.

All-in-all it's not looking good. I truly hope you do get your $16K returned. To anyone else thinking things are likely to improve and it will all be okay again, I'd suggest use your common sense and consider just how completely unacceptable it is for a customer that's been given personal guarantees by Rick Day to be left hanging for 75+ days. It's a no brainer: use a different exchange.

Came to this thread after a long time thinking that OPs issue would be resolved by now.. No such luck  >:(

Just did a whole back read on the thread. I wonder if igot_user_03773356 and the others already received their money. I'd like to know and get updated. This might be one of the biggest scam in history of bitcoin.

Unfortunately, no such luck. It's been over 80 days and I still have not received my funds. You can have a look in reddit as well. There's a whole list of folks there that Igot owes BTCs and fiat.

Are people able to transfer coins out of there?

It may suck, but I don't think your $16k is actually worth $16k anymore, so if you can some bitcoins out it might be time to do that.

I got my coins out early this week after emailing dan@igot.com and harassing their Facebook, Twitter & Reddit.

They now have a note on the site regarding FIAT withdrawals: "We expect most of the pending fiat withdrawals (non confirmed) to be processed by August 5th, 2015. Please email fwdraw@igot.com for any questions. Thank you."  ::)


Reddit Victim Thread: https://www.reddit.com/r/BitcoinMarkets/comments/3e5i31/igot_withdrawal_delay_up_to_2_months_and_counting/

will iGot actually pay out?

Apparently not! I'm still owed close to USD16K. It has been almost 90 days.

I've been waiting about 2 weeks for a pending bitcoin withdrawal. Unacceptable. I feel sorry for the people in this thread with large amounts of money on the table. It is shameful what Igot is doing. If you are reading this IGOT, it is time for some transparency. PROOF of ddos attack please. Proof of the money in your accounts. Proof of any kind of legitimacy. All I'm seeing is false promises with ever extending dates. ??? ??? ??? ???

Hi Dynamic, are you still waiting ??

I am also a victim of Igot.  I have over Aus $10,000 with Igot bitcoins that they will not transfer.  It is driving my crazy.  I got made redundant and cannot afford to lose my savings as well.

The fact that they are still accepting incoming tfrs and $ is even worse.  I too feel very stupid as I took a recommendation off a friend that igot were legit.

Very expensive lesson to learn.  These guys need shutting down as there must be hundreds if not thousands of victims out there.

Say they have 2500 clients (thats just the number of likes on their fb page) say they hold an average of 5 coins each = AUS $5million.  It is sickening.

If anyone is pursuing this legally or have had any success getting their funds out recently I would like to hear from them

= black list

Im waiting on just over 1btc for 3 weeks now.  No reply to repeated communication via support tickets so I emailed Dan a few days ago.  He came back and advised that "We expect the transfers to be completed within the next few days." 2 days ago. Will update you all on how my situation goes

Given it's about a week since igot_user_03773356 posted this, it's likely he's now been waiting over 90 days for payment.

That says to me that iGot is insolvent. There are serious consequences under Australian law for company directors if they allow their entities to continue trading while insolvent and if iGot are still taking deposits they're effectively still entering into debt whilst insolvent which is a criminal offence.

From the Australian Securities and Investments Commission (equivalent to the US' SEC) Regulatory Guide on Directors' duties around insolvency:


https://i.imgur.com/AWo9jBz.jpg


https://i.imgur.com/sw6BSZC.jpg


https://i.imgur.com/Kd9V1Jd.jpg


https://i.imgur.com/2dem5Nc.jpg


I'd suggest that it's on the verge of collapse. If people are having this many problems just withdrawing funds, imagine how far behind financiers/suppliers are getting their invoices paid. One of those suppliers could force the issue at any moment and instigate liquidation/wind-up proceedings at which point it's all over and I'd say 'depositors' just become unsecured creditors (i.e. you're at the bottom of the list behind the banks and any creditors that have their debt secured against some other asset (like directors' real estate property for instance).

It's a terrible situation and I feel for anyone that's caught in it. As per a previous post I made, I've had terrible difficulties with iGot in the past and their incompetence at handling very basic fundamental transactions (like 'buying or selling bitcoin'!) became a red flag for me about six months ago and I stopped using them.

(The document, portions of which are displayed above, can be found at http://download.asic.gov.au/media/1241384/rg217-29july2010.pdf (http://download.asic.gov.au/media/1241384/rg217-29july2010.pdf))

Update (as of 10 August):

• Igot owes me close to USD16K for almost 100 days.

Rick Day, who is the founder of Igot, is absolutely shameless and had the cheek to insist recently that he is running a legitimate outfit:
http://www.coindesk.com/bitcoin-exchange-igot-challenges-scam-allegations/

I have shared my experience with Yessi, who is the coindesk journalist who wrote the above article. I have also copied Yessi on every email I've sent to Rick chasing him for my money.

Most recently, Rick promised to repay all that is owed by today (10 August) and that has not happened!

This has shades of Mark Karpelès and the months before the Mt Gox collapse when people don’t know anything.

 8) Shades of Karpelès

Dear All,

Am also victim of igot.com, i have account with igot.com,  As usually i am doing bitcoin trade with igot.com, I was deposited my bitcoins and sold it.  Once sold, i will make withdrawal request to my bank accounts.  All previous withdrawal was processed with some delay.  Even i was continue the business with them.

Last July 2015, i was requested withdrawals as like below details,


    2015-07-03 - 31,550.00 INR

This above withdrawal was requested 10 days ago and also next one requested 5 days ago.

    2015-07-09 - 93,300.00 INR


Those above two withdrawal was not processed and not yet recieved my money.  I was sent multiple emails to them.  Still now they are not responding properly.

 I was contact them through their support ticket and they confirmed me will send my money within August 5th to 10th. But till now they are not responding through the ticket system, so i searched through internet and i found they stopped most of the peoples payment. I really shocked and found their company details and owner info. So i was contact that site support person Daniel Palmer and Rick Day through their email id such as hello@igot.com, dan@igot.com and rick@igot.com. Rick was contact with me from last week through mail, But he told me, "our site records shows, payment was cleared", So i sent my bank account transaction history to him. After that he was told me will contact my bank and then will update you. I hope he is trying to scam me.

So i was written mail to him and also their support team, am going to file a case against this and also they are not responding properly. Please check ticket image and also transactions history. If you want i can send you our bank account history. I need my money, Let me know what are all evidences i need to submit?

i can see so many allegations about igot.com right now,  So please help me to recieve my money from them.  I have taken all screenshots of my transactions from igot.com and also support ticket conversation.


Please advise

Regards
Thangapandi

@Thangapandi: I would advise you to report to ACORN and make as much noise on social media as possible. Rick Day is running a scam and the only chance you have to even see part of your money is to pressure him into doing so. Igot still owes me USD16K for close to 4 months now.

Here's some press coverage from the last 24 hours. The situation's looking worse and worse each day.

http://www.econotimes.com/Australian-Bitcoin-Exchange-iGot-halts-trading-80723 (http://www.econotimes.com/Australian-Bitcoin-Exchange-iGot-halts-trading-80723)

http://themerkle.com/fraud/igot-exchange-scam-the-worst-bitcoin-exchange-still-in-operation/ (http://themerkle.com/fraud/igot-exchange-scam-the-worst-bitcoin-exchange-still-in-operation/)

i have the same issue for over a month now.

and i did not get reply to any of my support tickets

please advise

I suggest you report Igot to ACORN (http://www.acorn.gov.au/). Also, do make noise on their facebook and twitter accounts, as well as voice out your experience on Reddit.

another one bytes the dust! this is what gives a bad name to cryptos... we seriously need to have a thread listing all the scammers.

Lucky I checked here first before sending them $2000 via bank transfer to buy some more BTC. I actually checked google and ended up here when I noticed that the bPay option was gone from the deposits section only directly to a bank account.

I had a small leftover balance of 0.39 BTC which I have organised withdrawal for. I've received the confirmation email that it is pending , so I'll keep you posted if it does/doesn't show up in my wallet.

Here's a quick transcript...

me.. "Previously I used BPay to deposit some cash. I can't see that in my options. Can you look into this for me please? "

igot.. “Thank you for your email. We do not support BPAY option anymore. Hence you do not see it. Regards, Ash”

me.. "And Prime Focus is the correct account to send it to now?”

igot.. “ Thank you for your email. Yes that is correct. Regards, Ash"

Am glad that this post helped prevent another fraud, radicus. It's been more than 4 months and Rick Day/Igot still owes me money.

OOPS >>

Hi

I no longer work at igot. This mail has been forwarded to
fwdraw@igot.com where the team will deal with it asap.

Best regards,

Daniel


Fuckers  ;D

Hi,

Submit Cyber Crime Complaint against igot to get out funds back. http://www.acorn.gov.au/

Thanks.

For anyone that needs more info on igot to submit a complaint, please see their profile: http://bitcoinx.io/exchanges/igot/

update...

It's been a week since I asked for my .39 withdrawal, still no sign.

It's funny how eager they are to get my $2000 deposit though, I get reminders emailed everyday, but have heard nothing about with withdrawal request.

I see a lot of People making exchanges with igot.com in INDIA , Frankly i never exchanged there but recently , yesterday only someone introduced me about igot over hangout , i was on mobile so i opened the site it looked pretty professional , after reading this post i am shocked and happy that i never joined that site.
The site template is pretty much like Cloudthink.io , a failure scam !!

It was working fine earlier this year, I bought/exchanged about $1000 worth, and left a few satoshi's in there to exchange later when the price had risen. I should have pulled out sooner.

I'll contact support again, but I'm not holding my breath.

DON'T trade with Igot! The site is a scam and you'll not get your money back.

Oh my god trading site is also turning into scam? I am also thinking of doing some trading but after seeing this i will not trade in just immersed sites.

I don't think this igot site made any announcement thread here on bitcointalk , then how people got to know about them ,
@ OP when you withdrew some Rupees in Thousand and they did not processed then why did you made a another Trade worth 90+ k ??

I traded in USD, not rupees. I traded small amounts with Igot first to verify that withdrawals were possible. These withdrawals were eventually refunded to me. However, once I traded larger amounts and tried to withdraw my funds, the money stopped arriving. It's a confidence scam.

Don't worry. Money is safe. Be patient :)

That's all you have? What a joke.

Waiting for withdrawal

C'mon guys.. .waiting for a 0.3 withdrawal for nearly a month now... it's been approved and still pending.

1 day ago

Close

Comment by Support about 23 hours ago at 12:48 Oct 15, 2015

"Dear Customer,

Thank you for your email.

We are aware that the bitcoin sent to your address has not yet arrived. Unfortunately we experienced a network error that resulted in -1 confirmations.

It was rejected by the blockchain, but the bitcoin were taken from the wallet. Our developers are testing a fix for that right now.

It should be completed soon.

Please do not worry, it will be resolved very soon.

Regards,

Julie"

I like their definition of soon :-)

stop using them! We have been trying to get the word out. They are either insolvent or incompliant.

http://themerkle.com/fraud/igot-exchange-scam-the-worst-bitcoin-exchange-still-in-operation/

OMG!
My payout finally arrived today! The .03897 BTC I tried withdrawing a few months ago finally hit my wallet today.

After many excuses and delays, well what can I say. Even though it did arrive, I more than likely wont be using them again.

Thanks for the Satoshi, but you guys haven't earned my trust yet.

I see that they are running a competition now where if you tweet that you've received your withdrawl and you can win btc.  Hopefully this is a sign that they are indeed going to pay up, at least to some of us.  I'd appreciate anyone else who receives their coins letting us know.

Yes. Trust me.
We are working hard.

Someone try to send stolen money to our account and our bank frozen igot account.  >:(

Please be patient. All of the clients money is protected.

We regret to inform you that future buy and future sell feature is now discontinued. We will be replacing this with Order Book feature shortly.

So why are coin withdrawals taking so long?

It should be sent out soon.

That's not an answer. How does your bank account being frozen cause you to not send coins?

No one should believe the "soon" bs you've been spewing, so give dome sort of explanation that makes sense.

Please be patient.

Updation on this thread

Around 15 days back I had withdrawn all my BTC from iGot - but see that till date I have not recvd the equivalent fiat (INR) in my account, I never dream that iGot could be a scam, but now with no response from there customer support team and with all this forum discussion I am feeling like all my hard earned bitcoins are gone in vain -

will this wallet pay after all ?

are they just taking more time than usual ?

or is this whole another scam ?

 if a scam then can any Indian suggest of what could be done to recover my money ?


Some info about the company registered in India

igot India
2nd floor, 3rd Cross, 4th Main,
Chamrajpet, Bangalore, India
CIN: U72900KA2012PTC061947


https://www.zaubacorp.com/company/IGOT-TECH-SOLUTIONS-PRIVATE-LIMITED/U72900KA2012PTC061947

http://www.zaapr.com/corporate/company/U72900KA2012PTC061947

Thanks for this warning. I almost signed up with them.

Still waiting after selling 21BTC in mid nov 2015. I would advise avoiding any Bitcoin exchange setup in HK as its currently unregulated. IGOT is slipping out of paying lots of people using this loophole while masquerading as an Aussie exchange.

They are clearly a scam and they are taking advantage of unregulated bitcoin operations in many countries.
I am waiting for my INR from 25 days now. I think there is no bank problem but Rick is up to something messy.
If you look closely you will see it all smells stinky in there business, There website uses SSL but that SSL does not certifies ownership information.
I checked with comodo (SSL provider) and it seems they will not help us as there job is just to certify the domain name.

They have a registered business in India(Bangalore) but as there is no regulation for bitcoin operation in India so any attempt for consumer forum is useless.

https://3ci.in/8-company/500887-igot-tech-solutions-private-limited-u72900ka2012ptc061947 (https://3ci.in/8-company/500887-igot-tech-solutions-private-limited-u72900ka2012ptc061947)

I have talked these 3ci guys, they track whether a company is scam or legit in India and they have agreed to reduce the score by 5 points(55 to 50) based on this citation, They need more citations to reduce the score further and company will come under scam if score is below 15, which is tough.

I do not know any other way to proceed further.

I've now been waiting 8 days for a BTC withdrawal. :(

I am in financial hell right now and iGot is literally fucking with my life.

I created this account just to say that iGot is also screwing me over. I've been waiting since 10th of January for my money. All I get is lame excuses from Julie.

I'm now in serious financial trouble and they are ignoring my ticket. Just great :-(

#iGotScrewed

Julie is the only id from which everyone gets a response and to top it most of the responses are closed automatically by Julie  :o
iGot is screwing all and just lame excuses

now even the blockchain is blocked as the chain is complete so many transactions are on a hold, now we would see this reason as their back up message very soon

Change over to another wallet guys, it is high time and get all your money from iGot in any manner

Here is a new trusted wallet that many are using specially those from my country India, but it supports all currencies and cryptos

Here is the link to  https://coinsecure.in/signup/wuEHay7pHS0LoFSW3sox (https://coinsecure.in/signup/wuEHay7pHS0LoFSW3sox)

Excellent idea.

Move the coins from one third party to another one so you can get fucked over by someone different if you ever manage to get coins from the first fucker.

The fact that we can use your referral link so you think you have a little more money stolen from than will actually be stolen really makes this a can't miss deal

Registration details for IGOT TECH SOLUTIONS PRIVATE LIMITED

COMPANY NAME
IGOT TECH SOLUTIONS PRIVATE LIMITED
CIN
U72900KA2012PTC061947
REGISTERED DATE
1/2/2012
REGISTRATION NUMBER
61947
CATEGORY
Company limited by shares
SUB CATEGORY
Indian Non-Government Company
SUB CATEGORY
Private
LISTED / UNLISTED
Unlisted
ADDRESS 1
223/7, 2ND FLOOR, 4TH MAIN
ADDRESS 2
3RD CROSS, CHAMRAJPET
CITY
BANGALORE
STATE
Karnataka
PINCODE
560018
APPROVAL STATUS
Approved
COUNTRY
INDIA
CONTACT INFO
ppswamy_49@hotmail.com


Get your money out of iGot: http://themerkle.com/how-to-get-your-money-back-from-igot/

The iGot scam hit the mainstream media in Australia yesterday with a serious investigative expose on the Australian Broadcasting Corporation's 7:30 current affairs and news program.

http://www.abc.net.au/news/2016-04-11/australian-bitcoin-exchange-igot-on-verge-of-collapse/7315894 (http://www.abc.net.au/news/2016-04-11/australian-bitcoin-exchange-igot-on-verge-of-collapse/7315894)

Watch the embedded video to see what has been broadcast.

DO NOT ATTEMPT TO USE THIS EXCHANGE AS YOU WILL MOST LIKELY NEVER SEE YOUR FUNDS AGAIN.

If you're already embroiled in the web of broken promises and lies that characterises everything Rick Day does, contact the relevant authorities and lodge formal reports about what money you're owed.

Hi Bro

We are a group of people from India and are facing the same trouble - how can we get our money out from this scammers, all our fiats and bitcoins are stuck
Can you guide a little bit pls

Well I don't have anything miraculous to tell you unfortunately. You need to just continue to interact with iGot as best as you can while also lodging reports with law enforcement in your country. This will be all about many people reporting their losses or inability to get their funds back. The more that report and raise awareness, the more the authorities will take an interest and try to force the issue on rectification or liquidation/dissolution of iGot so creditors might have a chance of getting some funds out.

Thanks a lot for the suggestion
Interacting with iGot is not at all possible, they are not replying to any support tickets for more than months now, neither replying to tweets in their twitter account and not showing up in FB as well, there is no other email id or phone number to reach them, I have asked some of my known people to look for their physical existence in (as listed) Indian cities and await their feedback

Local authorities will not be much keen to take part, rather they will make us jump from one desk to another, the system of working followed here in India by local authorities are time consuming, too much time consuming rather. Yes if this would have been a scandal of more than billions or millions even then they would have taken part actively and quickly.

Since the main iGot is registered in Australia, hence if the Australian authorities take up complains round the globe and take action then there seems to be a hope else as of now what I can understand is everything is in dark.

So this matter is still not resolved? But igot.com is still active. Is igot founded in India or Australia? The domain is registered in India.

iGot are just a bunch of liars. They keep telling me a manager will contact me. Just lies.

Apparently they are under new management.. probably another lie. I hope the owner gets cancer of the colon and dies a really horrible slow death surrounded by all the bitcoin he stole off us.

It's a shame as I really liked their website and gave them nothing but praise at the start.

#iGotScammed.

This is true and its being happening for a year now for many people which I have heard. Firstly they do not provide their registered office in each country in which they operate.
Secondly they do not provide their customer support number to speak since if you mail the query you will be getting response once in the blue moon.  This itself show that its a big scam . Also anybody has ever visited any of their offices or met any of their employees?

I seem to remember this rickday guy going on and on about banking problems. Does it really take a year to untangle some transfers or get a new bank?

When the banking problems are that they have no funds because they stole them all it will take a very long time to untangle since they can't create money out of thin air.

iGot is still screwing everyone over. There are heaps of customers waiting for withdrawals for 6 months + .
DO NOT USE THIS EXCHANGE.
THEY HAVE NO FUNDS.

...Ruined my fricken life you dog RICK DAY.

Can't they just cancel the withdrawals and return the Bitcoins? Do they refuse to do so?

They are not exactly refusing... They are stating they will honour all withdrawals and then stalling....  and they have been doing so for more than 6 months. :(

I've still not received what was owing to me. I actually had to close my business because of these assholes.

iGot are cunts.

I am an Indian .I deposit money at iGot but money not reflect in wallet .What shod I do sir.pls give answer

I'd like to speak with rick day I am owed coins from 14/7/2015

The site is now re-branded to Bitlio.com
You should edit the thread title to include (bitlio). This could save a lot of new users from falling prey to the fraudulent website.

I cannot believe these horrible fucking scam artists are still in business! I eventually gave up on these horrible cunts, because the amount I purchased was negligible at the time (50aud). However with bitcoin prices under 1k at the time, I've lost what would of been a substantial sum now, as i was planning to hodl.

After hearing that these fucknuggets were still operational, i logged in to their rebranded scam to see all my support tickets still there (hey! they answered, only took 2 years), and guess what? They are literally denying i ever tried to withdraw bitcoin from them.


I go to btc info on transaction page and suprise, suprise all my previous transactions have been scrubbed. I have no proof, as they have erased the evidence and any screenshots i took are long gone. But people, beware! Once a scammer, always a scammer.

I know this is old news... But at the current price, these thieving dogs owe me $1.8 million AUD.   Buying BTC at that time many years ago was one of the smartest decisions I've ever made.... But I have remained poor because of these scumbags.  If anyone knows where Rick Day or any of the iGot staff are hiding, where they are working, ANYTHING, please post.  I have dealt with my loss but the pain lingers on, as does the need for retribution.  Thanks.