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Author Topic: Coinabul owes me 241.96 BTC  (Read 4915 times)
DirtyRandy
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November 06, 2013, 05:00:36 PM
 #21

I have a small update about my situation, I received this email from AML@coinabul.com today:
----------------------------------------------------------------------------------------------------------------------------------
Hello,

We appreciate your business as a valued customer of Coinabul.com. In order to help combat money laundering and other illegal activity, we must request some documentation from you in order to process your shipments. Please note that after this documentation is provided, we will keep this information on file in order to process your future orders expediently. We will not share your information, and if you request we will procure sensitive information verbally where possible in order to protect your privacy via electronic transmissions.

Thank you for your understanding, and we look forward to answering any questions you have.

Please provide each of the following to aml@coinabul.com:

Legal Name

Social security number / Tax Identification Number

Copy of identification documents as outlined in “Business Accepted Photo ID” section

BUSINESS ACCEPTED PHOTO ID

Driver’s License (state or territory)

Passport

Temporary Resident Card (US Dept. of Justice)

US Military Card
Native American Tribal ID

------------------------------------------------------------------------------------------------------------------------


My problem is that how can I trust a company with my SS# and ID, that has repeatably proven it can't be trusted. Given Coinabul's (Jay Shore) reputation I think this might be "Jay" branching out in Identity theft. I really need what I'm owed, but I don't trust coinabul with my info, any suggestions?
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November 06, 2013, 05:16:19 PM
 #22

In a previous post you mention that you were a happy customer. Have you actually received a shipment in the past? If so, I don't see why they would need that much information :S

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DirtyRandy
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November 06, 2013, 08:58:27 PM
 #23

before Coinabul stopped shipping orders (around may-june 2013) I had received all of my orders (more than 10, less than 100) without any complaints (other than 2-3 week ship times). Now they are basically holding my remaining 4 orders hostage, wanting more info. I shouldn't have to provide info for orders I already placed 4 months ago. They still won't answer emails, it's a 1 sided conversation at this point. They want me to give up info and I hope they send me my gold and silver. Then there is the issue of the difference in the price of btc from when I ordered till now. The price of btc has doubled from the time I ordered, at this point I would rather have the BTC back. Since they are SCAMMERS I don't except anything from them.   

This is my testament against coinabul, They are lairs, and thieves. Stay far away from them, don't risk it.
AmericanBit
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November 06, 2013, 09:40:27 PM
 #24

I think you risk jail over that kind of money...

kharper1969
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November 07, 2013, 12:16:21 AM
 #25

Thanks for the heads up on these guys. I had considered an order but certainly will not now.
painmaker
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November 07, 2013, 06:14:57 AM
 #26

... Now they are basically holding my remaining 4 orders hostage, wanting more info. ...
weird, can you give us a hint what kind of info they want? just browsed conaibul's TOS but could not find anything about the customers liability to provide certain information in order to receive his order (or get a refund).

however, this section might be worth a read although it holds nothing what might explain why coinabul is holding back your orders as there seems to be no underlying technical issue:
Quote
... By using our services, you acknowledge that certain market conditions or other disruptions, such as technological difficulties, may result in you being unable to buy or sell products on a timetable or at a price that is acceptable to you. If you fail to abide by the terms described within the Conditions of Use, we reserve the right to suspend or terminate your account at any time. You agree not to hold Coinabul liable or responsible for any orders placed via its online order system, disruptions, or termination of that system, or for any losses, or damages you may incur as a result of using the order entry system.  Coinabul is not liable for any errors, negligence, or inability to fulfill any orders. Nor can Coinabul be held responsible for delays in transmission, delivery, or fulfillment of orders due to the failure of associated facilities or to any other causes beyond its control.  By using any Coinabul service, you agree that you understand the order entry system is mechanical and may fail due to conditions beyond our control. ...

ever gave a tought about the fact that coinabul might be pressured by a higher force as you seem to have placed quite some orders through them which might rise suspicions at certain institutions?
DirtyRandy
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November 07, 2013, 07:27:44 PM
 #27

as stated in a previous post, the info requested is:

Please provide each of the following to aml@coinabul.com:

Legal Name

Social security number / Tax Identification Number

Copy of identification documents as outlined in “Business Accepted Photo ID” section

BUSINESS ACCEPTED PHOTO ID

Driver’s License (state or territory)

Passport

Temporary Resident Card (US Dept. of Justice)

US Military Card
Native American Tribal ID

My orders were always way less 10,000, and there for not subject to additional verification. Ordering several times from them, is not illegal and barely meets the definition of suspicious. They shipped out orders (not mine) last week without requiring Verification, so why ask for my info.

My problem is that even if I give them the info requested, there is no guarantee they will actually send me what I'm owed. At this point I think it's more likely the info will be used to steal my identity or worse. 
painmaker
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November 08, 2013, 06:36:54 AM
 #28

ah, i must have over-read that section. anyway, thats quite some serious identification going on there.

why not turn this thing around and demand an exhaustive explanation about what they are going to do with your data, who will be granted access to it and why exactly they can't proceed to fulfil their liability without you providing it.

or what about cancelling your order? just send them a written statement going somewhat like
Quote
herewith i'd like to cancel my order <ordernumber> placed <date> over <quantitiy> oz gold and <quantitiy> oz silver and demand the immediate refund of <price> BTC to my account <dirtyRandyBTC#> within the next 5 business days.
sincerely yours,
DirtyRandy
?

you can't force them to do business with you but if they refuse to do so you still can claim whats yours, right?
DirtyRandy
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November 08, 2013, 07:32:30 PM
 #29

If they weren't corrupt scammers your idea might work, I have already asked to cancel the orders and get my btc back, but they aren't answering emails. Your right they can't force me to do business with them, but they can/will continue to ignore me leaving me without options for recourse.
tonto
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November 09, 2013, 01:52:38 AM
 #30

Where are they based at?  Sounds like someone needs to go visit them personally. Smiley
Gator-hex
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November 09, 2013, 03:22:10 AM
 #31

Quote
it's more likely that the feds would be up my ass about the my btc instead of trying to track down and prosecute Jay Shore aka Coinabul.

I wonder how many said that about Trendon T. Shavers (Pirateat40) aka Bitcoin Savings and Trust (BTCST)?

“Fraudsters are not beyond the reach of the SEC just because they use Bitcoin or another virtual currency to mislead investors and violate the federal securities laws,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539730583#.Un2pHuKFCCg

DirtyRandy
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November 14, 2013, 12:46:20 AM
 #32

I can say for a fact going to the feds would result in my imminent demise. I'm not a terrorist or African warlord, but I don't live my life according to their laws. As a result I can't seek out help from authority's in most matters. Coinabul is using this to their advantage. All I can do is publicly shame them and prevent other people from being ripped off. If you have also be ripped off and can go to the feds please do, but for me that's just not an option.


In the event someone from Coinabul reads this thread:

Dear Coinabul,

I would like to cancel my pending orders and demand the return of my 241.96 btc (now worth 4x what it was worth in June).

Sincerely,

- Dirty Randy
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November 14, 2013, 12:51:31 AM
 #33

Sorry to hear about this. I feel for you.
Essentially was this a ponzu scheme for BTCs?


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lindatess
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November 14, 2013, 05:24:37 AM
 #34

This brings back old memories of being scammed on an e-gold transaction.

Surprisingly, soon after the United States government stepped in and shutdown e-gold. The thieves I guess wouldn't have used their real name and thus it would have been forfeited under the money laundering rules.

I haven't invested in any digital currencies ever since.

lordzandaar
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November 14, 2013, 08:26:45 AM
 #35

Coinabul owes me for 4 orders dating back to june 2013, totaling 241.96btc. I had just begun to comes to terms with never seeing my gold or btc again..

wow 241 BTC is quite a lot, if I were you I wouldn't just give up on getting back my coins. Maybe you could find ppl who were in the same situation and sorted thing out, or who are still and come up with something together.

anyway good luck man

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November 14, 2013, 11:34:58 AM
 #36

this is not helping the stabilisation of bitcoin. most people that i spoke to still see this business as a scam
DirtyRandy
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November 18, 2013, 06:30:37 PM
 #37

adding insult to injury, btc is now 6x what it was worth when Coinabul stole my 241.96 btc.
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November 18, 2013, 06:40:19 PM
 #38

I'm not with Coinabul (not even sure what they are to be honest) and I am very new to BTC, but I read an article yesterday or the day before how US banks were closing down the accounts of any business even remotely visibly associated with BTC. That means having it in their domain name, accepting it as currency, etc... They weren't freezing assets, just closing the accounts. Coinabul was one of the companies specifically mentioned in the article.

http://vr-zone.com/articles/bitcoin-businesses-getting-banned-banks-us/64047.html

Playing devil's advocate here, is it possible that that is what has happened and it is taking them time to regroup. If so, I agree that they have done a piss poor job of keeping their customers in the loop, but it doesn't necessarily mean that they are intentionally scamming anyone.

Of course, I could be completely wrong. I don't know. The name 'Coinabul' made me remember the article though.

Hope you get your orders though - that is a beyond sucky situation to be in.

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November 18, 2013, 06:58:47 PM
 #39

Many here thought it was a scam in 2011 because of the well known shell company address.  Wink

https://bitcointalk.org/index.php?topic=48022.0

AmericanBit
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November 28, 2013, 01:05:06 AM
 #40

adding insult to injury, btc is now 6x what it was worth when Coinabul stole my 241.96 btc.


Holy Balls, thats like 240k now...hope you got it sorted.

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