DO NOT USE MT GOX - MtGox requires photo ID for BTC transactions now!

[bt2084]

The new message, as of this morning (it changed overnight) now shows:
"Attention Users: All withdrawals and deposits require account verification."

I just opened a new account and after buying USD and then selling it for BTC was told that to get my BTC I also needed ID verification -!

DO NOT USE MT GOX!

This basically means you must send them photo ID and utility bills just to get your Bitcoins back into your wallet or to send to someone to buy something. This from a company who was hacked in 2011. Now they want my personal information -- basically a honeypot for ID Theft hackers?!!?  I don't think so.

Here is what their site says now:

"Please be aware that your account is not currently verified.

All Mt. Gox user accounts are required to be verified in order to perform any deposits and withdrawals.

Account Verification
To prevent your account from being locked please provide complete and accurate information.
To become verified please complete the following form and submit identification documents to Mt.Gox. All fields must be filled out before a submission can be reviewed.

Required documentation :
- VALID Photo ID (Identity card, license, passport,...)
- Residence Proof (utility bill, tax return, insurance,... no bank statements)
ISSUED WITHIN 6 MONTHS

https://www.mtgox.com/forms/verification

So I say... spread the news... and do not use Mt. Gox for anything and don't recommend it to anyone new.

I can only suspect that the are doing this because they are insolvent at this point.  They must know they will lose many customers by invading privacy at such a deep level, with the potential for customer's to have their ID's stolen. So why do it?  Well, it does prevent or slow people from taking their coins out.  So perhaps they are just not able to repay.  Scary stuff.  I'd avoid Mt. Gox.  Campbx.com and many others are good alternatives, right?

[alex0909]

LOL
This has been active for more than 6 months.

Bitstamp also verified it's customers last month.

It's not a ''breaking news''.

Best regards.

[howzar]

LOL
This has been active for more than 6 months.

Bitstamp also verified it's customers last month.

It's not a ''breaking news''.

Best regards.

it's new,the Old message was only regarding FIAT withdrawals but hasn't included BTC's. not now.

[leoragraves666]

Been like that for some time now, I had this like 2 months ago

[fattypig]

Oh man, this is getting worse...

[Scott J]

Or, just possibly, in order to get new banking partners online, they need to increase their KYC efforts?

[Come-from-Beyond]

Anyone still uses MtGox?  

[pinger]

Anyone still uses MtGox?  

Bitstamp doesn't allow me to verify because I only use electronic bills, no paper is sent ever, so I can't verify according to its procedures. I just deleted my account, but they now have my ID and address.

Stop attacking Mtgox just because the US gov is a pain in the ass for any company.

[RodeoX]

 
Also, STOP USING MONEY!!! BANKS ARE REQUIRING ID!!!! 

[imrer]

lol, it has been like this since I can remember (half a year I believe)

[PassTheAmmo]

Or, just possibly, in order to get new banking partners online, they need to increase their KYC efforts?

This is definitely the reason. I read that they are trying to partner with new banks to improve withdrawal speeds. No bank would take them on if they risk problems with US authorities.

[accord01]

you give your info to many many private entities, banks, credit agencies, employer.... this is not too different. 

What are they going to do?  try and apply for credit cards with your picture id, and then have goons off the street buy luis vuttons with the cc?  not happening... 

[RodeoX]

I would add that people are sometimes confusing this with bitcoin. The reason Gox and others are requiring proof of identity is because of fiat currency. Fiat currency is not yours to do with what you like. You are authorized to use it for your transactions, but it is not yours. For example, it is illegal to destroy your own $USD because it is not yours to destroy. Mixing btc with fiat will always result in taxes, laws, governmental whims, etc.

Just keep your holdings in bitcoin and forget about "cashing out". Bitcoins are yours , you can even destroy them.

[malevolent]

I would add that people are sometimes confusing this with bitcoin. The reason Gox and others are requiring proof of identity is because of fiat currency. Fiat currency is not yours to do with what you like. You are authorized to use it for your transactions, but it is not yours. For example, it is illegal to destroy your own $USD because it is not yours to destroy. Mixing btc with fiat will always result in taxes, laws, governmental whims, etc.
Just keep your holdings in bitcoin and forget about "cashing out". Bitcoins are yours , you can even destroy them.

The problem is that, until recently, Mt.Gox did not require any docs for bitcoin withdrawals. Only people who wanted to withdraw fiat had to submit their docs.

Now they are requiring that even people who don't deposit nor withdraw fiat currencies should also submit their docs.

[malevolent]

Allegedly. No screenshot has been provided to support the allegation that Gox says "All withdrawals and deposits require account verification".

Here's a screenshot:



The URL is https://www.mtgox.com/forms/verification

I highlighted this part:

All Mt. Gox user accounts are required to be verified in order to perform any deposits and withdrawals.

[TheButterZone]

Ah. This is new. Wasn't there the other day when I looked all the fuck over the place for it...



And another one down (Coinbase), and another one down (Bitstamp), another one bites the dust (MtGox).

[razorfishsl]

The issue I have , is just WHAT security protection is on these details?

Nothing in their site about encrypting or securing this data…….