[2015-06-15] Bitcoin Exchange Igot Becomes Insolvent

[tyz]

Bitcoin Exchange Igot has reportedly become insolvent following a new code’s implementation on its platform.

According to the available information, the new code was designed to speed up the withdrawal processes and add some more features to the Igot platform. However, the upgraded system soon began to demonstrate issues, and eventually ended up affecting the users’ ability to withdraw funds. With an experiment gone wrong, Igot got left with a broken code and a tag of being a scam.

http://coinyoo.com/2015/06/15/bitcoin-exchange-igot-becomes-insolvent/

[1713931678]

1713931678

[1713931678]

1713931678

[1713931678]

1713931678

[dan_igot]

This report was false (based on incorrect assumptions on reddit it seems, and published without checking the actual facts) and was quickly taken down by NewsBTC. Sadly it has been syndicated and tweeted quite a lot.

For the record, we have had some delays with withdrawals, which we hope to have fixed very soon. We are not insolvent and all customers awaiting withdrawals are being paid out as fast as we can under the current situation. Some are still waiting in the queue and they will get their funds shortly.

Dan, igot

[bryant.coleman]

This report was false (based on incorrect assumptions on reddit it seems, and published without checking the actual facts) and was quickly taken down by NewsBTC. Sadly it has been syndicated and tweeted quite a lot.

May be you should take legal action against NewsBTC. Fake news articles such as this one destroys the reputation of the exchange, which was built over a long period of time. Ask them to publish an apology on their front page, or face legal action. I don't want to speculate on who is behind this fake news story, but unhealthy competition can be a prime reason.

[dan_igot]

Thanks for the feedback, Bryant. Yes, it's really not good for any company when this kind of thing happens, for whatever reason.  I'm sure the management are considering whether to take further action, but I'll pass on your comment. Regards.

[igot_user_03773356]

Dan - this should not be surprising. Many Igot users, including me, have been consistently having problems with BTC and fiat withdrawals. Not to mention the repeated false promises that the funds will arrive. I am still owed USD20K since 45 days back.
https://bitcointalk.org/index.php?topic=1065373.0;all
https://www.reddit.com/r/Bitcoin/comments/39kkow/is_igot_insolvent/

[ramkumar]

Thanks for the feedback, Bryant. Yes, it's really not good for any company when this kind of thing happens, for whatever reason.  I'm sure the management are considering whether to take further action, but I'll pass on your comment. Regards.

That news might false but igot really sucks.

No customer service. Very very poor management.

I sent email to

hello@igot.com,
rick@igot.com,
Amit@igot.com,
Vignesh@igot.com,
dan@igot.com,

everyone opened my email but they didn't reply. Did you guys think we don't have other work?

While i posted the same on your fb page >> https://www.facebook.com/pages/igotcom/191028684435836  it removed within 5 mins. Why did you remove -ve feedbacks?

Take responsibility and solve the issue asap.