Bitcoin-24

[Avvakum Adrian]

Does anybody know what happened to bitcoin-24?

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[johnfox]

If I am not mistaken the bank accounts of the bitcoin24 were blocked by German and Polish police in the investigation of phishing fraud funds being transferred via bitcoin24 and affiliated bank accounts. Not that bitcoin24 took any place in the phishing operations but more that the phishing scammers used bitcoin24 to transfer their "earnings" via bitcoin. At least that is what friend of mine told me (he have quite some amount in the EUR and BTC blocked in the bitcoin24).
More info to be found for example here: https://twitter.com/Bitcoin24com

If I am mistaken I would be glad for correction or more inside/insight info

[Tribex1301]

some synthetic infos also here http://kuttler.eu/post/what-happened-bitcoin24/

[Newscastix]

The most info is in here:

http://board.btc24-help.com

There is supposed to be a statement from the Lawyer to be coming today or tomorrow.... We'll see.. 

[ripper]

Well, that sucks. Let that be a warning to you never to keep your bitcoins wallet at any website, where they are blockable/confiscable/stealable.

[rayman]

Can this happen to other exchanges too? Or they have it somehow covered (like bank licence or something)?

[WGates]

We need to see what we can do to protect ourselves from bitcoin sites shutting down.

[mugdesign]

i am new but as i am thinking still do not understand. why would you keep your bitcoin on a website rather than in your own wallet. can not understand the point. anyone?

[Evomind]

i am new but as i am thinking still do not understand. why would you keep your bitcoin on a website rather than in your own wallet. can not understand the point. anyone?

One reason is with such a volatile market, you want to be able to sell BTC when you want to.   If you have it on a wallet on your PC, it could take an hour or two to get it to Mt Gox or other to sell it before the price drops further.