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Author Topic: BEWARE: igot.com is either running a scam or is out of cash  (Read 17572 times)
igot_user_03773356
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May 19, 2015, 11:02:37 AM
 #1

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.
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dan_igot
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May 19, 2015, 03:05:13 PM
 #2

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)
igot_user_03773356
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May 19, 2015, 04:03:48 PM
 #3

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.

dan_igot
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May 20, 2015, 08:30:36 AM
 #4

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
igot_user_03773356
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May 21, 2015, 11:37:30 AM
 #5

Update (as of 21 May):
  • Two payments received. However, the amount for each payment is incomplete.
  • Three payments pending, and an additional "correction" payment to make up for the shortfalls in 3 earlier payments.
Victor Beckham
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May 21, 2015, 03:23:00 PM
 #6

Update (as of 21 May):
  • Two payments received. However, the amount for each payment is incomplete.
  • Three payments pending, and an additional "correction" payment to make up for the shortfalls in 3 earlier payments.

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 allows to trade @ 0.1%.

igot_user_03773356
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May 29, 2015, 10:24:35 AM
 #7

Update (as of 29 May):
  • Two payments pending. Oldest pending since 26 days back.
igot_user_03773356
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June 01, 2015, 01:24:23 PM
 #8

Update (as of 1 June):

  • No change - Two payments pending. Oldest pending since 29 days back.
hunkey600
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June 02, 2015, 07:20:54 PM
 #9

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

igot_user_03773356
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June 03, 2015, 12:04:46 PM
 #10

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.
hunkey600
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June 03, 2015, 07:11:51 PM
 #11

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.

klm bitcoin
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June 04, 2015, 04:48:10 AM
 #12

Beware and avoid this one. They seemed originally to be legit but I suspect are now having financial difficulties
bitcoin.babe
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June 05, 2015, 06:03:50 AM
 #13

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.
igot_user_03773356
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June 05, 2015, 12:25:33 PM
 #14

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.
BubbleGom
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June 05, 2015, 12:27:36 PM
 #15

thank
i'm going to add this site on my black list
bitcoin.babe
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June 06, 2015, 04:05:14 AM
 #16

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.

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

Quote
Thank you for your email.
Due to ongoing upgrade, we will not be able to process this until Monday.

If you want, we can reverse the transactions and send your money back to your bank account?

Regards,

Julie

I responded with:

Quote
Will the fiat be quicker to receive than the bitcoin? Because I have been talking to customers who say they havent been paid their fiat in almost a month!

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  Wink
otorongo
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June 06, 2015, 08:07:13 AM
 #17

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
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June 06, 2015, 11:38:14 AM
 #18

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

The Transit Coin is on the way. help us to decide the path we have to follow:

https://bitcointalk.org/index.php?topic=1066969

http://tnttalk.org

TNT COIN SHOPPING MALL COMING SOON
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igot_user_03773356
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June 06, 2015, 01:10:33 PM
 #19

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

Quote
Thank you for your email.
Due to ongoing upgrade, we will not be able to process this until Monday.

If you want, we can reverse the transactions and send your money back to your bank account?

Regards,

Julie

I responded with:

Quote
Will the fiat be quicker to receive than the bitcoin? Because I have been talking to customers who say they havent been paid their fiat in almost a month!

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  Wink

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...

igot_user_03773356
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June 06, 2015, 01:19:22 PM
 #20

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

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.
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