BEWARE: igot.com is either running a scam or is out of cash

[jchenard]

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

[jchenard]

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

[igot_user_03773356]

Update (as of 20 July):

• Igot owes me close to USD16K for more than 75 days.

[RenegadeMan]

Update (as of 20 July):

• Igot owes me close to USD16K for more than 75 days.

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:



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.

[Amitabh S]

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

[CEG5952]

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.

[igot_user_03773356]

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.

[Phildo]

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.

[scarlet24]

Are people able to transfer coins out of there?

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/

[Swisswatcher]

will iGot actually pay out?

[igot_user_03773356]

will iGot actually pay out?

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

[dynamicseruma]

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.

[RedOz]

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

[Unlimited15]

Update (as of 20 July):

• Igot owes me close to USD16K for more than 75 days.

= black list

[ROT13]

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

[RenegadeMan]

will iGot actually pay out?

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

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:














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)

[igot_user_03773356]

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!

[BabelFish]

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

  Shades of Karpelès

[thangapandi]

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

[igot_user_03773356]

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.