Additional $2.1M Seized from Mt. Gox Accounts – Now Over $5M Total

[cryptocoinsnews]

On Monday, the executed seizure warrant for Mt. Gox’s account with Dwolla was published, showing $2.9 million was seized by the US government. According to documents obtained today by TGB’s research staff from the records of the District Court of Maryland, more than $2.1 million was also seized from two of Mt. Gox’ Wells Fargo accounts – totaling to more than $5 million seized from Mt. Gox accounts by the US government.

Will there be more??

http://www.cryptocoinsnews.com/2013/08/22/additional-2-1m-seized-from-mt-gox-accounts-now-over-5m-total/

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[b!z]

Mt Gox is screwed and we all know it.

[marcovaldo]

So, the only way to get money out of mt.gox is to buy btc and to withdraw btc?

[b!z]

So, the only way to get money out of mt.gox is to buy btc and to withdraw btc?

yes, that is why mtgox usd price is so high

[tvbcof]

I'm much more likely to use Mt. Gox now even though the possibility exist that the abuse of their service by regulators (who are effectively also competitors by virtue of the mechanics of their compensation packages) is fabricated or mis-represented.

Indeed, I have just used their service for Mt. Gox for the first time, and my expectation is that I'll get my fiat in several months at best, and never at worst.

If I needed better/faster results, I'd take my chances with a smaller outfit who is flying under the radar or is new enough to not have pressure mounted on them.  Indeed, I split my sale between Mt. Gox and Bitcoin-Brokers as an experiment and hedge.

At the end of the day I place a vast majority of the fault for my inability to capitalize on Bitcoin squarely with the corp/gov system of government that I live under here in the US and which I have some theoretical ability to work toward changing when they are excessively abusive.  I'm happy to support Mt. Gox, although I'm a shitty customer since I don't trade (and thus lose fees to them) and only use them (or try to) as and entry/exit point to the Bitcoin economy.

[bernard75]

No problem, they recompensate that with a weeks worth of insider trading.

[niko]

That's our money.

Seriously, what is the fate of seized funds in cases like this? Can I ask for Uncle Sam for my withdrawal that got snatched?

[bernard75]

Thats Goxs job, but as always they do nothing.

[brwn8484]

I use other sources to transfer my BTC to USD.  They are out there if you look!  Enough said!