Bitcoin Forum

Economy => Service Discussion => Topic started by: bitrider on June 12, 2013, 10:45:34 PM



Title: Seemingly very good news re: Bitfloor
Post by: bitrider on June 12, 2013, 10:45:34 PM
Not sure where this belongs, but thought it should be widely available...

http://audenx.tumblr.com/day/2013/06/10


Good news! 10-June-2013 Bitfloor update
Posted 2 days ago

Good news at last!

I spoke today with Jordan Modell from Internet Credit Union. He was able to confirm that Roman has been in touch with ICU for a few weeks and has been working with them to set up a way to return USD funds to customers. Here are the key points:

    1. After conferring with their counsel, ICU confirmed that they can legally open an account for Bitfloor. They have done so. Bitfloor’s account with ICU is now open.
    2. ICU and Bitfloor are setting up ACH transfer capabilities for the account. Jordan should be able to confirm by Friday this week whether ACH into and ACH out of the account is set up and working.
    3. The main delay at this point is that ICU has to wait to hear back from their counsel whether they need to follow “Know Your Customer” guidelines for each of Bitfloor’s depositors. Jordan said it might take as long as until the end of next week (6/21) to hear back from their counsel on this issue.

To elaborate on point #3: Even though Roman knows who most of us are (because anyone who requested ACH verification from Bitfloor already submitted photo ID), ICU is trying to find out if they need to separately request and review identity verification information for all of us, too. Ideally, ICU would like to avoid collecting this information about Bitfloor’s customers, if that’s legal. However, if their counsel advises them to collect this information, it shouldn’t amount to much more than some additional paperwork or a brief phone call for each of us — not too much of a hassle, in my opinion, given how long we have waited already for refunds.

Overall, Jordan sounds very motivated to help with this situation. He asked me to follow up with him later this week so he could give me an update.


Title: Re: Seemingly very good news re: Bitfloor
Post by: notme on June 12, 2013, 11:25:20 PM
Not sure where this belongs, but thought it should be widely available...

http://audenx.tumblr.com/day/2013/06/10


Good news! 10-June-2013 Bitfloor update
Posted 2 days ago

Good news at last!

I spoke today with Jordan Modell from Internet Credit Union. He was able to confirm that Roman has been in touch with ICU for a few weeks and has been working with them to set up a way to return USD funds to customers. Here are the key points:

    1. After conferring with their counsel, ICU confirmed that they can legally open an account for Bitfloor. They have done so. Bitfloor’s account with ICU is now open.
    2. ICU and Bitfloor are setting up ACH transfer capabilities for the account. Jordan should be able to confirm by Friday this week whether ACH into and ACH out of the account is set up and working.
    3. The main delay at this point is that ICU has to wait to hear back from their counsel whether they need to follow “Know Your Customer” guidelines for each of Bitfloor’s depositors. Jordan said it might take as long as until the end of next week (6/21) to hear back from their counsel on this issue.

To elaborate on point #3: Even though Roman knows who most of us are (because anyone who requested ACH verification from Bitfloor already submitted photo ID), ICU is trying to find out if they need to separately request and review identity verification information for all of us, too. Ideally, ICU would like to avoid collecting this information about Bitfloor’s customers, if that’s legal. However, if their counsel advises them to collect this information, it shouldn’t amount to much more than some additional paperwork or a brief phone call for each of us — not too much of a hassle, in my opinion, given how long we have waited already for refunds.

Overall, Jordan sounds very motivated to help with this situation. He asked me to follow up with him later this week so he could give me an update.

Too much hassle for the $1.50 I have in there.  I'm still bummed I'll never see any of the 14 BTC I am still owed from the hack.  But at least this is good news for some people.


Title: Re: Seemingly very good news re: Bitfloor
Post by: vinny on June 14, 2013, 01:13:45 PM
Thanks for sharing. If they want call me I'll be do a verification. They have way more the $1.50 of my dollars.


Title: Re: Seemingly very good news re: Bitfloor
Post by: justmyname on July 09, 2013, 09:47:23 PM
Looks like Bitfloor is ready to wire the money back! 

http://audenx.tumblr.com/post/54770637002/great-news-6-july-2013-bitfloor-update


Title: Re: Seemingly very good news re: Bitfloor
Post by: village.idiot on July 09, 2013, 09:52:50 PM
internal server error
Too many requests at once?