MtGox withdrawal delays [Gathering]

[Netnox]

Situation as of 16 October 2013: We are currently processing withdrawals requested five weeks ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

     * Japanese Domestic Transfer - Only for Japanese residents.
     * Polish Domestic Transfer - Only for Polish residents.
    * International Wire Transfer - Please note that we are unable to accept funds coming from or going to any entity, state or country listed by the US OFAC (Office of Foreign Assets Control).  If you wish to deposit from or withdraw to one of these countries, we are sorry but you can not do so through MtGox.
    * SEPA - Only for European residents
     * Okpay - Only for deposits

From the link above updated 10/17/2013. Does this mean no transfers to the US?

Because US is a shithole, muricans just go and use coinbase, you are ruining it for others, because of your shitty government mtgox has delays, just fuck off will ya, mtgox is for japanese and europeans get your stupid dollars from somewhere else

[1713578879]

1713578879

[Luno]

I suggest you do the same thing, and the police does not hand out receipts when you report a crime.

Yes, they do.  If you file a proper report.  Don't expect anything to happen if not, unless someone's life is in immediate danger.

I don't expect to get anything personal out of it. It's just formal procedure, and we owe it to possible new customers. If I raise a civil claim, I also need to prove that I, as a victim of a crime have acted accordingly.

[tvbcof]

Because US is a shithole, muricans just go and use coinbase, you are ruining it for others, because of your shitty government mtgox has delays, just fuck off will ya, mtgox is for japanese and europeans get your stupid dollars from somewhere else

I just switched to Coinbase.  Solves all my current needs, and I don't have to send a high quality identity theft kit some sketchy Bitcoin start-up run by teens in Central Europe in order to use it.  Had money in the bank less than three days after initially trying to sign up.  Got a fair price (not the Bitstamp price which is depressed by the desperate) and in volumes that localbitcoins cannot deal with.

If it would have been more clear that you can do something besides just buy BTC there, and that they (very logically) rely on the banks which one hooks an account to to perform identity and reporting functions, I would have signed up long ago.

[N12]

Reminder that it's soon 3 months since Emptygox has supplied us with any sort of update with regards to the SWIFT withdrawal situation.

Reminder that they still mislead people by having this on the withdrawal page:

International Wire Transfers: 
At the moment we are manually processing wire transfers and have a slight backlog as we create a new withdrawal system with our banking partners. Your withdrawal may take two weeks or more depending on the amount.

Two weeks or more, guys.

[papamoi]

Reminder that it's soon 3 months since Emptygox has supplied us with any sort of update with regards to the SWIFT withdrawal situation.

Reminder that they still mislead people by having this on the withdrawal page:

International Wire Transfers: 
At the moment we are manually processing wire transfers and have a slight backlog as we create a new withdrawal system with our banking partners. Your withdrawal may take two weeks or more depending on the amount.

Two weeks or more, guys.

Emptygox or cheatbox is really the appropriate name

[tvbcof]

Reminder that it's soon 3 months since Emptygox has supplied us with any sort of update with regards to the SWIFT withdrawal situation.

Reminder that they still mislead people by having this on the withdrawal page:

International Wire Transfers: 
At the moment we are manually processing wire transfers and have a slight backlog as we create a new withdrawal system with our banking partners. Your withdrawal may take two weeks or more depending on the amount.

Two weeks or more, guys.

Emptygox or cheatbox is really the appropriate name

An archaic term would be 'has-been'.

[Alpaca Bob]

Reminder that it's soon 3 months since Emptygox has supplied us with any sort of update with regards to the SWIFT withdrawal situation.

Reminder that they still mislead people by having this on the withdrawal page:

International Wire Transfers: 
At the moment we are manually processing wire transfers and have a slight backlog as we create a new withdrawal system with our banking partners. Your withdrawal may take two weeks or more depending on the amount.

Two weeks or more, guys.

That is actually very accurate. 

[zyk]

One positive development: Gox seems to have started updating their FAQ more regularly about the SEPA queue.

Situation as of 24 October 2013: We are currently processing withdrawals requested six weeks ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

Apparently some kind of glut in the withdrawals from around Sep 11 onwards, since they haven't really progressed at all from week ago. However, there's a steady stream of reports of completed SEPA withdrawals, so there's hope left.

thought this thread is for gathering....


last one (Sepa ) was mine then from Sebtember 13th???

come on---lets see if the queues getting longer and bankruptcy is around the corner......

[joesmoe2012]

Rumor has it that SEPA is up to about Sept 10th (I have a transfer pending on the 13th and havenn't seen it come through yet, nor change from confirmed to processed).

so is September 13 th already processed ?

its not even pending in my book....so the buck stopped right here!!??

Pending yet?

Nope

[Zarathustra]

Reminder that it's soon 3 months since Emptygox has supplied us with any sort of update with regards to the SWIFT withdrawal situation.

Reminder that they still mislead people by having this on the withdrawal page:

International Wire Transfers:  
At the moment we are manually processing wire transfers and have a slight backlog as we create a new withdrawal system with our banking partners. Your withdrawal may take two weeks or more depending on the amount.

Two weeks or more, guys.

Yes, it is cristal clear criminal business behavior, and the sturles are still pushing it. That's a shame for the bitcoin community.

[megustabtc]

I just don't understand some people's motivation here. Why do you seem to want Mt. Gox bancrupt?

I can't judge the impact of the things that happened to them, but those are some month ago now. Meanwhile they are probably having the highest volume in their history right now, which obviously causes a steady stream of money flowing into Gox. Additionally the BTC they are holding increases in value.

The only reason they could go out of business right now is something big happening (that could probably happen to any other exchange), or their costs increasing dramatically, which I don't see any indicators for.

[sturle]

Reminder that it's soon 3 months since Emptygox has supplied us with any sort of update with regards to the SWIFT withdrawal situation.

Reminder that they still mislead people by having this on the withdrawal page:

International Wire Transfers:  
At the moment we are manually processing wire transfers and have a slight backlog as we create a new withdrawal system with our banking partners. Your withdrawal may take two weeks or more depending on the amount.

Two weeks or more, guys.

Yes, it is cristal clear criminal business behavior, and the sturles are still pushing it. That's a shame for the bitcoin community.

Please tell me which law they are breaking.

I have shown here which law and which exact paragraph MtGox would break if they started pushing more money through SEPA transfers without a payment service licence.  Doing that would be criminal behaviour indeed.  Doing that while the licensing process is ongoing would be very stupid as well, because it will stop or delay the process.  MtGox are trying as hard as they can to not break any laws, and this causes delays.

I am not pushing any criminal behaviour, I'm just trying to find and present the facts.  Go join the conspiracy theorists here in case you have a problem with facts.  I find their minds fascinating and their fantasy endless.  I was never good at writing fantasy stories at school myself.  Making up stories is not my strength.  I tend to concentrate on what we know, and what we can deduce directly from what we know, and I think it is just as important to know what we don't know.

[zyk]

any withdrawl done or pending yet from September 13 th onwards?

[Frizz23]

I am not pushing any criminal behaviour, I'm just trying to find and present the facts.  Go join the conspiracy theorists here ...

We all know that you are a MtGox sock puppet. So why don't you just fuck off?

[Lohoris]

I am not pushing any criminal behaviour, I'm just trying to find and present the facts.  Go join the conspiracy theorists here ...

We all know that you are a MtGox sock puppet. So why don't you just fuck off?

I doubt MtGox is so sophisticated to have sockpuppets, while it can't manage to do any proper support.
At most he's just a fanboy (not saying he is).

[joesmoe2012]

any withdrawl done or pending yet from September 13 th onwards?

I'm still waiting my Sept 13th SEPA withdraw.

[tvbcof]

I decided that 5 BTC was not trivial enough to count as nothing, and I cannot see a reason to do business with Mt. Gox again as long as Coinbase is performant, so I withdrew 4.9 BTC + a transaction fee.  It was confirmed in the target (a Coinbase addy) within minutes.

My intl wire for $5k remains in 'confirmed' mode on their UI as it has since 15-Aug.

I figure it most likely that if I want to see my $5k, I'll need to attempt to obtain it through the legal system of the US govt which holds directly $5M and can make a grab for another $5M from the probably scattered parties associated with Coinlabs.  Anyone have any thoughts about what data I might solicit in order to pursue such an adventure?  It's not probably enough in straight dollar terms to get all lawyered up over, and efforts to leverage the loss politically are futile without some interest on the part of Mt. Gox.

[Nagle]

I figure it most likely that if I want to see my $5k, I'll need to attempt to obtain it through the legal system of the US govt which holds directly $5M and can make a grab for another $5M from the probably scattered parties associated with Coinlabs.  Anyone have any thoughts about what data I might solicit in order to pursue such an adventure?

If you want to do that, there are time limits on how long you can claim against a forfeiture. Get legal advice fast.

If you were to sue Mt. Gox in Delaware small claims court, and win (or they don't show up), you'd have a US judgement against them. (Mt. Gox created a legal presence in Delaware so they could register with FinCen. That provides an entity you can sue in Delaware.)

Then you can try to collect from funds the US Government is holding. According to Japanese law, if Mt. Gox is a Payment Services Agency, you own the money; you're not just a creditor of Mt. Gox. That puts you in a stronger position to claim against a forfeiture.  Again, get legal advice.

[dzzima]

SEPA transfers take D+1 days, not minutes.  The explanation for SEPA delays can be found earlier in this thread (someone even called their bank to hear it from them), and everyone else are bored by hearing it over and over.  SEPA has been delayed for the same reason since they changed to the Polish bank more than a year ago.

Let's make a bet - 1 BTC - that in 30 days time nothing will change.

Regarding SEPA, yes.  Their  limit will not change until they have completed their registration as a financial institution.

Regarding other fiat withdrawal option, I expect most of their problems will be resolved within a month, and the fastest fiat withdrawal option (except domestic JPY and manual express international wire) to take less than a week before Christmas.  I'm willing to bet 1 BTC on this.

sturle, you can send my 1 BTC to 1Hk5ieasp6o2k2LpUFjzqjKV8Auj3FUxAU

[tvbcof]

I figure it most likely that if I want to see my $5k, I'll need to attempt to obtain it through the legal system of the US govt which holds directly $5M and can make a grab for another $5M from the probably scattered parties associated with Coinlabs.  Anyone have any thoughts about what data I might solicit in order to pursue such an adventure?

If you want to do that, there are time limits on how long you can claim against a forfeiture. Get legal advice fast.

If you were to sue Mt. Gox in Delaware small claims court, and win (or they don't show up), you'd have a US judgement against them. (Mt. Gox created a legal presence in Delaware so they could register with FinCen. That provides an entity you can sue in Delaware.)

Then you can try to collect from funds the US Government is holding. According to Japanese law, if Mt. Gox is a Payment Services Agency, you own the money; you're not just a creditor of Mt. Gox. That puts you in a stronger position to claim against a forfeiture.  Again, get legal advice.

I'd have to believe that the statute of limitations does not make it imperative that I file with all haste.  And even if so, I partially wrote off these funds even before I instigated the wire.

The thing I value most are the identity documents I sent to Mt. Gox, so the best case scenario is that their operation is seized in total, and any former employees are scared shitless and not likely to attempt to sell said docs independently on the market.

The idea of getting a claim in in Delaware is actually a good one.  As I mentioned before, it's not something which I'm willing to retain an attorney for due to the likely economics and general hassle.  I would, however, be interested in a joint effort with similarly effected and situated parties to hire legally competent counsel to produce something of a general template that we could all use.