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Author Topic: Intersango Exchange  (Read 76242 times)
CoinCidental
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July 25, 2012, 05:44:07 PM
 #281

True - but if the scammed folks then complain to the bank - makes sense why suddenly they'd want to take a look at what Intersango is doing and cause this review. Doubt this is the only instance that this has been done with

Sorry to hear these news. It's a variant of a familiar scam which've been played out numerous times on many exchanges and fixed rate sellers. The thing is that bitcoin is irreversible, so as long as a scammer somehow can fund an account at an exchange, they can withdraw bitcoins.

I guess most exchanges already have safeguards in place, or know how to deal with this. As for Intersango... who knows ?

How does gox deal with this kind of thing ? Is there some strategy in place in the US banks to verify the id of all depositors or can anyone fund an account belonging to a drug dealer ?
"Apparently, so I am told, there exist "people" who prefer to wipe sitting down. From the front. Initial research indicates it could be up to half the population." -- benjamindees
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subpardave
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July 25, 2012, 06:23:25 PM
 #282

On MtGox at least the name on the sending account has to match that of the receiver also, from their documentation.

So Dave Smith can send to Dave Smiths' MtGox acct - but John Anderson can't be conned into sending funds to Dave Smith's MtGox acct
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July 25, 2012, 07:03:03 PM
 #283

On MtGox at least the name on the sending account has to match that of the receiver also, from their documentation.

So Dave Smith can send to Dave Smiths' MtGox acct - but John Anderson can't be conned into sending funds to Dave Smith's MtGox acct

If BTC's can be withdrawn that doesn't necessarily help. An account can be made quickly, in any name, so matching the name of the sender of the bank funds won't be too hard for the dedicated scammer.
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July 25, 2012, 07:14:08 PM
 #284

I'm not saying its a solution or even going to help - its just what MtGox do to put at least one impediment in the way to help the most brainless of the scammers - like the folks on Topix - have a hard time.
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July 25, 2012, 09:03:49 PM
 #285

I wonder if this recent event had anything to do with what assumingly is currently going on with their Metro Bank account: http://www.topix.com/forum/drug/valium/TDB3N8TVV6R8HJ3KH/p2 (only need to scroll down a tad)

~Bruno~

Good find Phin.  It may or may not have anything to do with the current review of Intersango's account, but it proves beyond doubt that people are stupid enough to publicly post stuff which links exchanges to money laundering.  Looks like the guy might have been using the ID of his "customers" to open bank/exchange accounts. (who in the hell would be stupid enough to send a scan of their ID to someone purporting to be an online drug dealer?).

Quote
True - but if the scammed folks then complain to the bank - makes sense why suddenly they'd want to take a look at what Intersango is doing and cause this review.

Hi Metro Bank.  I ordered drugs from some guy on the internet and he hasn't sent them.  I paid the money into one of your accounts.  Please help me get my money  back.  kthnxbye.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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July 25, 2012, 09:34:54 PM
 #286

They'll need to have account-verification if they're going to be able to resurrect their MetroBank account (*if*), I suspect this will take longer than a few days.
CoinCidental
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July 26, 2012, 01:59:31 AM
 #287

I wonder if this recent event had anything to do with what assumingly is currently going on with their Metro Bank account: http://www.topix.com/forum/drug/valium/TDB3N8TVV6R8HJ3KH/p2 (only need to scroll down a tad)

~Bruno~
(who in the hell would be stupid enough to send a scan of their ID to someone purporting to be an online drug dealer?).


You dont need any ID to pay into an intersango account ,they dont even ask ........

But thats the british norm ,you dont need ID to pay into ANY UK bank account (only ID required to withdraw)

by the way ,this might take way longer than  a week ,metro bank my be legally forced to close them down because you can not process the transactions from drug deals (cocaine was it ?) and expect the regulators to ignore that

 
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July 26, 2012, 02:22:00 AM
 #288


You dont need any ID to pay into an intersango account ,they dont even ask ........

But thats the british norm ,you dont need ID to pay into ANY UK bank account (only ID required to withdraw)

by the way ,this might take way longer than  a week ,metro bank my be legally forced to close them down because you can not process the transactions from drug deals (cocaine was it ?) and expect the regulators to ignore that


Same here.  You only need to identify yourself for threshold deposits (ie, those over $10k) and that's a recent requirement.

I was thinking more along the lines of the guy who wanted the scanned ID using it to open accounts with other exchanges and/or bank accounts.

At this point we don't know what has led to the bank reviewing activity on Intersango's account.  Could be related to this.  Could be something totally separate.  It's inevitable that sooner or later one of the exchanges is going to get caught up in a serious money laundering investigation.  The question is which one and when.  Anyone who has an axe to grind against Bitcoin or a particular exchange can make an an anonymous report accusing exchanges of money laundering and it's going to get followed up just like anonymous tip-offs about tax evasion get followed up.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
CoinCidental
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July 26, 2012, 07:56:45 PM
 #289


You dont need any ID to pay into an intersango account ,they dont even ask ........

But thats the british norm ,you dont need ID to pay into ANY UK bank account (only ID required to withdraw)

by the way ,this might take way longer than  a week ,metro bank my be legally forced to close them down because you can not process the transactions from drug deals (cocaine was it ?) and expect the regulators to ignore that


Same here.  You only need to identify yourself for threshold deposits (ie, those over $10k) and that's a recent requirement.

I was thinking more along the lines of the guy who wanted the scanned ID using it to open accounts with other exchanges and/or bank accounts.

At this point we don't know what has led to the bank reviewing activity on Intersango's account.  Could be related to this.  Could be something totally separate.  It's inevitable that sooner or later one of the exchanges is going to get caught up in a serious money laundering investigation.  The question is which one and when.  Anyone who has an axe to grind against Bitcoin or a particular exchange can make an an anonymous report accusing exchanges of money laundering and it's going to get followed up just like anonymous tip-offs about tax evasion get followed up.

if people have been selling drugs (even alledged to have been ) and using intersango to launder the proceeeds into untraceable BTC  they may be in deep sh1t and all the transactions might have to be audited to see if any accounts have been funded from multiple differnt accounts or even people walking in off the street and dumping wads of cash into the metro account

Legally ,it wasnt them who sold the drugs/ but they allowed themselves to used as a vehicle to launder the proceeds and this is taken seriously in the UK  and most of europe thesedays
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July 26, 2012, 08:20:43 PM
 #290

Legally ,it wasnt them who sold the drugs/ but they allowed themselves to used as a vehicle to launder the proceeds and this is taken seriously in the UK  and most of europe thesedays

Cf. The Mexican HSBC situation recently. Bitcoin will get this more and more as it gets bigger. Growing pains as it starts to *really* piss people (companies) off.

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July 27, 2012, 01:25:41 PM
 #291

Any news from Metro? It's been over a week.
CoinCidental
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July 27, 2012, 02:10:10 PM
 #292

Any news from Metro? It's been over a week.

its been two weeks if you check the other thread.........someone has a  withdrawl marked as "sent" 2 weeks ago and hes still not got his money back out .........
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July 27, 2012, 11:33:43 PM
 #293

And gee, look, no further info from Intersango. I've seen this movie before.

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July 28, 2012, 03:09:16 AM
 #294

This is all really bad timing.

The payments blackout (which has been scheduled for a long time) right after the metro bank issue and my mistake of accidentally marking payments as sent all came together to make what would have individually been a nuisance into a real problem.

If you have a withdrawal request marked as sent which you have not received (and it has been more than 48 hours) open a ticket clearly indicating the withdrawal request is marked as sent.

If you have a withdrawal request marked as requested do not open a ticket it will just be closed.
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July 28, 2012, 03:16:42 AM
 #295

Legally ,it wasnt them who sold the drugs/ but they allowed themselves to used as a vehicle to launder the proceeds and this is taken seriously in the UK  and most of europe thesedays

Cf. The Mexican HSBC situation recently. Bitcoin will get this more and more as it gets bigger. Growing pains as it starts to *really* piss people (companies) off.

If you piss off the wrong customers they can make anonymous tips to the authorities causing them to investigate.

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July 28, 2012, 03:00:52 PM
 #296

This is all really bad timing.

The payments blackout (which has been scheduled for a long time) right after the metro bank issue and my mistake of accidentally marking payments as sent all came together to make what would have individually been a nuisance into a real problem.

If you have a withdrawal request marked as sent which you have not received (and it has been more than 48 hours) open a ticket clearly indicating the withdrawal request is marked as sent.

If you have a withdrawal request marked as requested do not open a ticket it will just be closed.

What about deposits that haven't shown up?
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July 28, 2012, 03:06:16 PM
 #297

This is all really bad timing.

The payments blackout (which has been scheduled for a long time) right after the metro bank issue and my mistake of accidentally marking payments as sent all came together to make what would have individually been a nuisance into a real problem.

If you have a withdrawal request marked as sent which you have not received (and it has been more than 48 hours) open a ticket clearly indicating the withdrawal request is marked as sent.

If you have a withdrawal request marked as requested do not open a ticket it will just be closed.

So what is the status of this situation now? When will we be able to withdraw GBP again?

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July 28, 2012, 03:23:01 PM
 #298

This is all really bad timing.

The payments blackout (which has been scheduled for a long time) right after the metro bank issue and my mistake of accidentally marking payments as sent all came together to make what would have individually been a nuisance into a real problem.

If you have a withdrawal request marked as sent which you have not received (and it has been more than 48 hours) open a ticket clearly indicating the withdrawal request is marked as sent.

If you have a withdrawal request marked as requested do not open a ticket it will just be closed.

What about deposits that haven't shown up?

Agreed! Still no sign of my deposit from the 19th.
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July 29, 2012, 11:56:12 AM
 #299

WTF is going on with BTC transfers now? I have waited over 3 hours for may transfer from Intersango. NOTHING!   

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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July 29, 2012, 12:52:44 PM
 #300

Let me add few more question to my previous post.

1) Intersango, are you experimenting with fractional-reserve banking?
2) Intersango, do you have liquidity problems?

(if answer to 1. or 2. was "no", then explain why you cant complete BTC transfers from Intersango)
 

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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