BitInstant Warning - Stop Using Them.

[Villem Anton]

Hello,

I just wanted to warn you all of using BitInstant. I have seen many complaints here but I just want to add my facts to the statistics. I have written off my USD transfer as loss, from bitstamp to mtgox as loss after waiting for more than three weeks and countless mails to BitInstant. I have checked the order data, and there is nothing wrong with it. I have checked it with the support people at both exchanges.

Replies from BitInstant have been few and containing no explanation, or resolution. I will eventually file a criminal charge with the police. My conclusion is one out of two, either they are scammers, which all the stalling suggest, or they are completely incompetent in running their business. In both cases they are liable.

Cheers!

[apetersson]

i certainly respect your opinion, but there is a third possibility: overwhelmed by success.
tons of people use their service everyday, and i am certain they make good profit off that.

they would be really stupid if they decide to rip of every 100th customer.

so my advice: if you have a legitimate claim and enough evidence continue trying to reach them, eventually they will answer.
if that does not work in a few days, present the whole evidence (with sensitive info greyed out) to the community. a little shitstorm does wonders

[Villem Anton]

To rip off every 100th customer is a smart scam, that can go on much longer than trying to run with the money. At some later point the go bankrupt by staff cost overruns.

If they are not scammers, then the incompetence is to accept more orders every day when they have a backlog of up to three, or four weeks. The evidence will be sent to the investigators, there is no point spending more time on talking to BitInstant. They do reply with nonsense, which is also a known stalling tactic used by scammers.

[PuertoLibre]

I suspect quite a lot of people are angry and affected by this total stop in BitInstant services.

Hang in there, you are not alone.

[Epicblood]

I too think this is unacceptable, but I don't think they are actually trying to scam. They seem to just have run out of funds and probably can't access their $$ or BTC as MTGox is down. Sure it is bad for business, but I wouldn't worry.

[doobadoo]

i certainly respect your opinion, but there is a third possibility: overwhelmed by success.

Clearly victims of their success just like gox.  Glad i'm not so successful!

[Villem Anton]

I suspect quite a lot of people are angry and affected by this total stop in BitInstant services.

Hang in there, you are not alone.

Yes it seems there are a lot of people at loss here! The sad thing is the site is still up and people end up losing more money.

I can collect evidence of anyone else that is interested in contributing.  I will append any evidence of fraud, to my report when I file the fraud report.  Just reply to this thread with your story.

[Puppet]

SO far every other similar report Ive seen turned out be caused by an incorrect reference. Either by the user or the bank. Its not cool they are not responding, but I dont think its malicious, but rather being swamped.

[Villem Anton]

Just, an update.  I still have seen no trace of the transferred money at the destination.  I used their "new" support to file yet another report, and did not even get a ticket number.  They seem to use a strategy of scamming some calculated fraction of customers.  Just to warn everyone -this company is a bunch of Scammers - Avoid!  As things have turned out, I will travel to NY and pay them a personal visit.

[redwraith]

Just, an update.  I still have seen no trace of the transferred money at the destination.  I used their "new" support to file yet another report, and did not even get a ticket number.  They seem to use a strategy of scamming some calculated fraction of customers.  Just to warn everyone -this company is a bunch of Scammers - Avoid!  As things have turned out, I will travel to NY and pay them a personal visit.

Be nice!  I don't want to read about you in the news.

[guruvan]

A day later I have no bitstampUSD moved to my PayPal.

I can't get a response out of their support. No ticket, no response, no nothing.

Bitstamp api failed due to a bit of ddos yesterday - now bitinstant has not ever retried to fill the order.

I have tweeted @bitinstanthelp about the matter.

I will not use their services again. I have no need to lose money to the growing incompetence found at bitinstant.

[URSAY]

Hi everyone.

Do you have an issue that needs resolution?

The official support channel...

bitinstant.com/contact

Once you log your issue here it goes straight into our support queue where our team starts looking for a resolution.

Let me know if you have any further questions.  I'm here to help.