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Author Topic: More crap to deal with - Dwolla Reverses TradeHill Transactions  (Read 11329 times)
lacedwithkerosene
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July 25, 2011, 11:47:41 PM
 #1

Discuss in here.

Story broken on Bruce Wagner's show.

2.5 % of their volume reversed. Dwolla won't respond to their inquiries.

TradeHill dropping Dwolla deposits for the time being.

TradeHill responding in their own thread: http://forum.bitcoin.org/index.php?topic=31753.0

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Keyur @ Camp BX
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July 26, 2011, 12:10:50 AM
 #2

Dwolla scandal update: Camp BX is not affected by this, and every dollar is accounted for.

Hoping the same for other Bitcoin sites!

Thank you,
     Keyur
     www.CampBX.com

Please stay tuned to our news and announcements feeds at:
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EarlyAdopter
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July 26, 2011, 12:13:34 AM
 #3

I thought Dwolla can't be reversed? (I've never used it and don't know much about it)
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July 26, 2011, 12:27:47 AM
 #4

I thought Dwolla can't be reversed? (I've never used it and don't know much about it)

that's what everyone thought, apparently dwolla changed their ToS without any notice
geek-trader
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July 26, 2011, 12:28:19 AM
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Dwolla is still in the list for withdrawals at TH

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
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July 26, 2011, 12:28:48 AM
 #6

I thought Dwolla can't be reversed? (I've never used it and don't know much about it)

More like Dwolla is playing games saying something has cleared but it hasn't in order to cover their ass's!
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July 26, 2011, 12:30:25 AM
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"Contact Us" on dwolla's site is a 404

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
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July 26, 2011, 12:32:47 AM
 #8

actually Dwolla doesn't have any tos, but they added this today:
http://help.dwolla.com/customer/portal/articles/99253-if-a-transaction-was-reversed-what-can-i-do-
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July 26, 2011, 12:33:19 AM
 #9

"Contact Us" on dwolla's site is a 404


Yep, just noticed that!
Donald_Norman
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July 26, 2011, 12:36:44 AM
 #10

Intersango.us hasn't been affected by this as we have just opened. We are a free service and treading carefully. We are run by the same guys that have been running Britcoin.co.uk
Jered Kenna (TradeHill)
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July 26, 2011, 12:38:58 AM
 #11

We're open to discuss this with everyone. It's unfortunate and we want to fix the situation.

The name we used as an example in the onlyonetv.com video was identified to us as a person who's account had been closed by Dwolla and had scammed us.


We have spoken with Dwolla multiple times and they assured us that if we receive a CSV or email showing credited that it will not change.

This is clearly not the case and we are asking Dwolla to make this right.


Jered

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Jered Kenna (TradeHill)
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July 26, 2011, 12:40:18 AM
 #12

Intersango.us hasn't been affected by this as we have just opened. We are a free service and treading carefully. We are run by the same guys that have been running Britcoin.co.uk

Donald,

You've got my contact info. You're a good guy and we would be happy to speak with you and pass on all the information we have regarding fraud and Dwolla.
If we can help prevent them from taking advantage we will.

Jered

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eck
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July 26, 2011, 12:41:47 AM
 #13

So I understand that Dwolla deposits are disabled, but what about withdrawals? If I request a Dwolla withdrawal right now, will that be processed?
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July 26, 2011, 12:44:17 AM
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+1 for the title

I guess a new term is in order: dwollad!


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Jered Kenna (TradeHill)
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July 26, 2011, 12:47:08 AM
 #15

So I understand that Dwolla deposits are disabled, but what about withdrawals? If I request a Dwolla withdrawal right now, will that be processed?

Yes.

Jered

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July 26, 2011, 12:58:32 AM
 #16

So from a bank's perspective - if they have what appears to be a valid legal claim (affidavit?) that a transaction was fraudulent, I guess they work on the basis that the merchant will have the relevant information as to who actually initiated the transaction and so is best positioned to follow it up.

Now I know most people like the idea of collecting minimal information about customers - but given the way the banking system works, isn't it in the best interest of the exchanges  to collect enough personal/business information that they could follow up with a debt collection agency/credit reporting agency if necessary?

Ultimately there may be ways to get your BTC more anonymously (face to face etc) - but I don't see that it's necessary for exchanges to treat incoming fiat transactions as if they only need an email address as identification.

It's a slight privacy concern that an exchange has more personal data - but if you're using bank accounts etc to transfer funds in/out you're not exactly anonymous from a law-enforcement agency anyway - and really.. do most of us need to be anonymous  for  bitcoin acquisition/offloading purposes?





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July 26, 2011, 01:09:08 AM
 #17

So from a bank's perspective - if they have what appears to be a valid legal claim (affidavit?) that a transaction was fraudulent, I guess they work on the basis that the merchant will have the relevant information as to who actually initiated the transaction and so is best positioned to follow it up.

Now I know most people like the idea of collecting minimal information about customers - but given the way the banking system works, isn't it in the best interest of the exchanges  to collect enough personal/business information that they could follow up with a debt collection agency/credit reporting agency if necessary?

Ultimately there may be ways to get your BTC more anonymously (face to face etc) - but I don't see that it's necessary for exchanges to treat incoming fiat transactions as if they only need an email address as identification.

It's a slight privacy concern that an exchange has more personal data - but if you're using bank accounts etc to transfer funds in/out you're not exactly anonymous from a law-enforcement agency anyway - and really.. do most of us need to be anonymous  for  bitcoin acquisition/offloading purposes?


+1

right now it looks like anonymity works in favor for scammers knowing they can pull this shit without any consequences
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July 26, 2011, 01:16:24 AM
 #18

+1 for the title

I guess a new term is in order: dwollad!


Grin

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July 26, 2011, 01:23:23 AM
 #19

Can someone make the issue clear please   Grin I still don't get fully what happened and I didn't see Anything on tradehills website.
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July 26, 2011, 01:28:13 AM
 #20

Dwolla suspended my account that had over $400 in it and now my money is gone.

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