Broken BTC Withdrawals on Gox -- 2230 EST, 28 JAN: 1654 broken TX!!

[smoothie]

From another thread on here but incase some of you have not looked at it

https://mtgox.zendesk.com/entries/26501000-Statement-Regarding-BTC-Withdrawal-Delays

This update really says nothing. But it does say you can be rest assured it isnt affecting everyone. LOL as if that makes people who are waiting feel any better.

Gox is a joke and should close up shop. The signs are there for a collapse. It will likely only get worse from here as it only has gotten worse since MTGOX got hacked back in 2011.

Similarly any ponzi scheme will claim that you just "need to wait a little bit longer before you get your money". They do not operate in a reasonable amount of time they take money from one user to give to another. Hoping new suckers send them more fiat so they can pay off their obligations.

[1714781785]

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[1714781785]

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[arruah]

What are the chances that they honestly return us our coins?

Who honestly knows what's going on at Gox head quarters. I'm hoping that it's a technical problem combined with gross incompetence and that it'll be resolved in the near future.

This is causing me major stress. It's been 8 days since I made a 44 btc withdrawal and I'm still waiting. I have a similar amount of btc on gox that I'm to afraid to withdraw my total net worth is locked up with those assholes . I've sent 2 support tickets without response. It doesn't look good to me and I'm starting to feel like I've been robbed.

I'm trying to keep positive about this.

do you have tx id?

[coinfvcker]

I made my first test deposit into Mt Gox today using a small amount of BTC from Cryptsy. It ended up working fine, but Cryptsy took nearly 4 hours to debit my account for the withdrawal. After the Cryptsy debit showed up, my balance was at Mt Gox in about 5 minutes. Been having a fair bit of Cryptsy over the last 72 hours.

Also, can't get a Cryptsy BTC/BTB trade to cancel from 01/18. Have submitted a trouble ticket that has received nothing but "auto-acknowledgment" so far.

Cryptsy seems to be the best alt-exchange out there, but it leaves a LOT to be desired. Anyone else think there is a better alternative to Cryptsy?

[rikkejohn]

Start of my 6th day of waiting for my BTCs, and absolutely no way will Gox even acknowledge my tickets

I will never use Gox again - even when the site works it's a pile of shit anyway, slow and confusing, letting you put in orders without funds, not even an obvious place to look whether you have a deposit confirming (use the blockchain)

Bastards

[wez004]

I received a response to my support tickets from Gox.

It's a slight glimmer of hope I guess, however, it's quite insulting at the same time. How the fuck am I meant to be reassured that the problem only affects a limited number of users?

I can't see why their developers can't write a script and get these bitcoins moving through the blockchain.

There's a major problem here and I can only logically see it being 1 of 4 things.

1. They've been robbed via a hacker.
2. They're actually insolvent as many have speculated.
3. They're doing a sheep market slow kill type heist by stopping withdrawals and accumulating funds.
4. They're a complete bunch of incompetent fuck wits who don't have the skills to run a bitcoin exchange with a million accounts.

What options do we have? Any forum members have any suggestions? A social media campaign to warn about the risks involved with depositing funds with Gox maybe?

I'm desperate for my btc withdrawal and support ticket responses like this are like I said, insulting.

Jim Support, Feb 01 04:05:
Dear Valued Customer,
Thank you for the email. Sorry for the delay in responding. For the past few days some of our users have been suffering from Bitcoin Withdrawal delays where transactions could be stuck for several hours or days. Please rest assured that this is only affecting a limited number of users and transactions, and that we are working hard on resolving this
problem as soon as possible.We ask for your patience and understanding as
we work to resolve this issue and will continue to update you on this
matter as the situation evolves.Thank you for your continuous support.


Best regards,
MtGox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

[zyk]

They need to be notified by a law -firm that according to their own ToS are now liable to pay out 125 % of the failed transactions in the next 48 hours or otherwise

the police is seizing whats to be had of Marks own stash   

[zyk]

may be it even wasn´t intended from the get go....but what would you do if there are suddenly 35 million dollars piling up in your hands and you can win a lot of time as everybody

sits on his hand hoping while nobody is threatening you by anything ........ you may need to close the marketshare losening buiseness in the process but WTF another incentive

for not fixing anything....

[rikkejohn]

I received a response to my support tickets from Gox.

It's a slight glimmer of hope I guess, however, it's quite insulting at the same time. How the fuck am I meant to be reassured that the problem only affects a limited number of users?

I can't see why their developers can't write a script and get these bitcoins moving through the blockchain.

There's a major problem here and I can only logically see it being 1 of 4 things.

1. They've been robbed via a hacker.
2. They're actually insolvent as many have speculated.
3. They're doing a sheep market slow kill type heist by stopping withdrawals and accumulating funds.
4. They're a complete bunch of incompetent fuck wits who don't have the skills to run a bitcoin exchange with a million accounts.

What options do we have? Any forum members have any suggestions? A social media campaign to warn about the risks involved with depositing funds with Gox maybe?

I'm desperate for my btc withdrawal and support ticket responses like this are like I said, insulting.

Jim Support, Feb 01 04:05:
Dear Valued Customer,
Thank you for the email. Sorry for the delay in responding. For the past few days some of our users have been suffering from Bitcoin Withdrawal delays where transactions could be stuck for several hours or days. Please rest assured that this is only affecting a limited number of users and transactions, and that we are working hard on resolving this
problem as soon as possible.We ask for your patience and understanding as
we work to resolve this issue and will continue to update you on this
matter as the situation evolves.Thank you for your continuous support.


Best regards,
MtGox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

I've started sending tweets to people associated with Gox

E.g. I had a look who Mark Karpeles, aka ‏ @MagicalTux , follows.

Then I've randomly found a few he follows and tweeted to ask what they think about this issue - I always put @MagicalTux in with the tweet, just so he knows (if he bothers to read) that I'm calling Gox out.

The Bitcoin foundation is another place I'll start on next. I'll probably find a few finance sections of newspapers, media outfits, and tweet them, again with a @MagicalTux attached. I might also try it using individuals from the Bitcoin foundation seeing as it is so fcuking Goxy anyway. Anything to embarrass them in front of their peers.

Maybe it won't work. but it will annoy them.

[fonzie]

I received a response to my support tickets from Gox.

It's a slight glimmer of hope I guess, however, it's quite insulting at the same time. How the fuck am I meant to be reassured that the problem only affects a limited number of users?

I can't see why their developers can't write a script and get these bitcoins moving through the blockchain.

There's a major problem here and I can only logically see it being 1 of 4 things.

1. They've been robbed via a hacker.
2. They're actually insolvent as many have speculated.
3. They're doing a sheep market slow kill type heist by stopping withdrawals and accumulating funds.
4. They're a complete bunch of incompetent fuck wits who don't have the skills to run a bitcoin exchange with a million accounts.

What options do we have? Any forum members have any suggestions? A social media campaign to warn about the risks involved with depositing funds with Gox maybe?

I'm desperate for my btc withdrawal and support ticket responses like this are like I said, insulting.

Jim Support, Feb 01 04:05:
Dear Valued Customer,
Thank you for the email. Sorry for the delay in responding. For the past few days some of our users have been suffering from Bitcoin Withdrawal delays where transactions could be stuck for several hours or days. Please rest assured that this is only affecting a limited number of users and transactions, and that we are working hard on resolving this
problem as soon as possible.We ask for your patience and understanding as
we work to resolve this issue and will continue to update you on this
matter as the situation evolves.Thank you for your continuous support.


Best regards,
MtGox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

I've started sending tweets to people associated with Gox

E.g. I had a look who Mark Karpeles, aka ‏ @MagicalTux , follows.

Then I've randomly found a few he follows and tweeted to ask what they think about this issue - I always put @MagicalTux in with the tweet, just so he knows (if he bothers to read) that I'm calling Gox out.

The Bitcoin foundation is another place I'll start on next. I'll probably find a few finance sections of newspapers, media outfits, and tweet them, again with a @MagicalTux attached. I might also try it using individuals from the Bitcoin foundation seeing as it is so fcuking Goxy anyway. Anything to embarrass them in front of their peers.

Maybe it won't work. but it will annoy them.

Great work. It was about time that somebody does this. I really appreciate this.

[soy]

Have had btc in MtGox for almost a year.  Made one or two withdrawals over the last year no problem.  Now, logging in for the first time this year I get "Your account has been restricted from accessing funding options. Please contact support@mtgox.com for additional information on why your account has been restricted."  My shown btc balance is correct however.  Really an annoyance as I need to withdraw some to pay bills.  I suspect the new year celebrations are playing a part.

[soy]

How can MtGox have maintained its inflated value (presently 114.8% compared to coinbase) and stay in business?  Simple math says buy elsewhere and sell on MtGox and that by many would quickly put it out of business!?  If a MtGox "in-crowd" did exactly that, depleting its fiat reserve while at the same time blocking non-in-crowd btc owners from leaving or selling, it would explain a lot.

So, who would be to blame, MtGox which tried to maintain stability during the crash of April last year by stopping trades (while bitfloor and others traded as usual) as the US stock exchange stops computer trading when it has trouble, or are the US banks to blame, banks that may have punished MtGox for exactly that attempt to maintain stability, e.g. US banks probably the cause for the very sharp rise up over $1000 then almost crash the day before US Senate hearings on Bitcoin?

[btbrae]

Have had btc in MtGox for almost a year.  Made one or two withdrawals over the last year no problem.  Now, logging in for the first time this year I get "Your account has been restricted from accessing funding options. Please contact support@mtgox.com for additional information on why your account has been restricted."  My shown btc balance is correct however.  Really an annoyance as I need to withdraw some to pay bills.  I suspect the new year celebrations are playing a part.

Gox have done this with a bunch of accounts. It means you need to send off documents and get them officially notarized with an apostille. It basically means anybody with Verified that hits a threshold will now need Trusted status. If you have any funds they are basically confiscated until you send docs and get approved, BTC included. It's very odd that they did this just as the BTC withdrawal problem hit.

[btcinsight]

There is approximately 1300 stuck transactions as we speak, and the problem has been well known and acknowledged for a week now.

In 7 days, I would have the time to send them out myself with bitcoin-qt provided I had access to private keys with sufficient funds. I don't buy the technical issue, I can't believe mtgox techs are not able to fix a system which picks up already spent outputs in 7 days.

So to me, there is only two options:

1. They don't want to send out bitcoins, for whatever reason, perhaps because they try to mitigate the spread caused by bank wire delays.

2. They can't send them out, because they are actually insolvent. Perhaps because of a hack, fractional reserve with bad money management, or even human error causing loss of private keys.

In either case, don't you think we should contact a lawyer ASAP to force them to give us back our money? Even in case 2), I suspect MtGox owners can cover the losses using their personal assets.

[soy]

Have had btc in MtGox for almost a year.  Made one or two withdrawals over the last year no problem.  Now, logging in for the first time this year I get "Your account has been restricted from accessing funding options. Please contact support@mtgox.com for additional information on why your account has been restricted."  My shown btc balance is correct however.  Really an annoyance as I need to withdraw some to pay bills.  I suspect the new year celebrations are playing a part.

Gox have done this with a bunch of accounts. It means you need to send off documents and get them officially notarized with an apostille. It basically means anybody with Verified that hits a threshold will now need Trusted status. If you have any funds they are basically confiscated until you send docs and get approved, BTC included. It's very odd that they did this just as the BTC withdrawal problem hit.

Odd yes.  The last withdrawal I made to pay bills around Christmas was 1 BTC and it went through perfectly.  There was no additional btc added to MtGox and the value has dropped about $100/btc since then so by any measure the account is less valuable than when I made my last withdrawal.  

Edit: Failing memory, looking back at my records that 1btc withdrawal was early in Dec 13 but later I made a sizable withdrawal to buy a Neptune and by that time the Neptune cost was > than FINCen allows to be sent from the US in one day.  So, perhaps a FINCen objection or a MtGox problem.  I understand I have until June to register my MtGox 2013 account with FINCen, but it will probably happen after I wade thru the instructions for the irs 1040 and have gotten my docs from my US bank which says it will probably mail those on 1/31.  The MtGox account value is such that it has never triggered the IRS $50k requirement but last year could have triggered the FINCen $10k requirement tho the account has always been in btc except for sub-$300 deposits to immediately buy btc.

[smoothie]

Their silence on the issue is a red flag. Sending users boiler plate responses with no value or information is pointless and the only motive could be to BUY TIME.

Any ponzi needs to buy time and sucker new investors to pay old ones to stay alive.

If MTGOX was honest they would have a message on their front page that they are having USD etc withdrawal issues. Instead they do not have this and the average joe goes there thinking they will be able to use their exchange in the traditional sense where you can withdrawal your funds (both fiat and BTC) whenever you want with little to no delays.

4, 5, 6, 7+ days to withdrawal BTC is essentially BS. There is no excuse to not be able to fix this for their users in a reasonable amount of time unless something else happened and they don't want to disclose that.

[soy]

I have no intention of doing anything illegal and plan to pay my rightful share of taxes.  I hope this freeze on my btc held by MtGox isn't anything serious.  Since I am above board with my dealings I may have to remove all my btc from MtGox.

[smoothie]

I have no intention of doing anything illegal and plan to pay my rightful share of taxes.  I hope this freeze on my btc held by MtGox isn't anything serious.  Since I am above board with my dealings I may have to remove all my btc from MtGox.

MTGOX shouldn't let people deposit funds before they are verified. Given they do it says they prefer to hold extra funds hostage until people get "verified" to their standards.

[soy]

I have no intention of doing anything illegal and plan to pay my rightful share of taxes.  I hope this freeze on my btc held by MtGox isn't anything serious.  Since I am above board with my dealings I may have to remove all my btc from MtGox.

MTGOX shouldn't let people deposit funds before they are verified. Given they do it says they prefer to hold extra funds hostage until people get "verified" to their standards.

I have been fully verified since early last year.  Unaware of the "normal" delay, what is it about a month(?),  I continued to send various documents attesting to the place of my residence and citizenship, documents well beyond what they were requesting.

[rikkejohn]

I received a response to my support tickets from Gox.

It's a slight glimmer of hope I guess, however, it's quite insulting at the same time. How the fuck am I meant to be reassured that the problem only affects a limited number of users?

I can't see why their developers can't write a script and get these bitcoins moving through the blockchain.

There's a major problem here and I can only logically see it being 1 of 4 things.

1. They've been robbed via a hacker.
2. They're actually insolvent as many have speculated.
3. They're doing a sheep market slow kill type heist by stopping withdrawals and accumulating funds.
4. They're a complete bunch of incompetent fuck wits who don't have the skills to run a bitcoin exchange with a million accounts.

What options do we have? Any forum members have any suggestions? A social media campaign to warn about the risks involved with depositing funds with Gox maybe?

I'm desperate for my btc withdrawal and support ticket responses like this are like I said, insulting.

Jim Support, Feb 01 04:05:
Dear Valued Customer,
Thank you for the email. Sorry for the delay in responding. For the past few days some of our users have been suffering from Bitcoin Withdrawal delays where transactions could be stuck for several hours or days. Please rest assured that this is only affecting a limited number of users and transactions, and that we are working hard on resolving this
problem as soon as possible.We ask for your patience and understanding as
we work to resolve this issue and will continue to update you on this
matter as the situation evolves.Thank you for your continuous support.


Best regards,
MtGox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

I've started sending tweets to people associated with Gox

E.g. I had a look who Mark Karpeles, aka ‏ @MagicalTux , follows.

Then I've randomly found a few he follows and tweeted to ask what they think about this issue - I always put @MagicalTux in with the tweet, just so he knows (if he bothers to read) that I'm calling Gox out.

The Bitcoin foundation is another place I'll start on next. I'll probably find a few finance sections of newspapers, media outfits, and tweet them, again with a @MagicalTux attached. I might also try it using individuals from the Bitcoin foundation seeing as it is so fcuking Goxy anyway. Anything to embarrass them in front of their peers.

Maybe it won't work. but it will annoy them.

Great work. It was about time that somebody does this. I really appreciate this.

Well try following me - @Broken_Gox

I only made this a couple of hours ago - I also got an cheap domain and hosting deal from godaddy to compliment the Twitter

http://brokengox.info/

Excuse typos, spelling mistakes or wrong info. It literally took me an hour to make the site, during which I was planning a sustainability event in Brussels

And still, no BTC has arrived from Gox

[btcinsight]

I contacted a lawyer in Japan about MtGox withdrawal "problems".

I was surprised he already knew the case because someone already contacted him about it Friday. He said he will be able to take the case. Also, customers grouping dramatically increases chances of success. If you are interested, please reply to this post or PM me.

We must act fast, as time flies, our chances of getting our monies back decreases significantly.