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Author Topic: Mt.Gox AML/KYC Process Explained  (Read 57118 times)
TheWoodser
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December 17, 2013, 12:33:33 AM
 #181

In response to my own question.....  after trying it about 10 times.

The "amount" can't start with a decimal.  The amount needs to start with a "0"

Example

  .99999 = BAD
0.99999 = OK


Woodser

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December 17, 2013, 11:04:08 AM
 #182

i transfered 1000euro to mtgox for about 24 days ago, with one reply from support and i still cant see my money but i'm sure that that they got it
ZooKeeper74
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December 18, 2013, 09:42:04 AM
 #183

Lost $3000USD bank wire to them.  Does anyone know how to contact their bank?
tylkotak
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December 18, 2013, 10:19:00 AM
 #184

Lost $3000USD bank wire to them.  Does anyone know how to contact their bank?
I went to this bank WBK Poland allready but they cant do anything :/ Maby police?
billyjoeallen
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December 19, 2013, 06:44:32 PM
 #185

unfortunately, my experience is similar to the horror stories already posted. I initiated a $997 withdrawal Nov 11, only because there was a max limit of $1000. I have yet to get the money or even a response on my support ticket(s). 39 days and counting for a WIRE xfer. Simply no excuse for this. I converted the rest of my account back into BTC at a small loss just to get my funds out.

I have a separate gripe. two years ago, I persuaded my reluctant father to buy some coin at Mt.Gox. He's not a technical guy and I had to walk him through the process. as luck would have it. he top ticked the first bubble buying at $31/BTC a day before the hack and the crash to $3. Dad figured he was going to lose it all and pretty much forgot about is except to use it as an ecuse not to listen to any more of my investment advice. Two years later, that 31 coins are worth over $20,000 and I try to help him regain access to his account. Well, after submitting driver's license, utility bill, passport photos, social security number, recors of the original wire xfer funding his account, stool sample (ok, not that). Still unable to recover access to his account.

My guess is that Mark AKA "Magical Tux" ran short on USD when the Feds seized his $5 million Dwolla account, and the problem got much much worse as it initiated a panic by US traders to get their money out. I think Mt Gox is solvent, but they are stalling until they can convert their other funds to USD and make their depositors whole. Time will tell.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
hostmaster
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December 20, 2013, 06:41:55 PM
 #186

more than 20days still not verified my account what kind of business you doing?
Razick
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December 21, 2013, 08:43:57 PM
 #187

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So while we'd love to be able to offset the costs a little, if we were ever caught doing this as a company, we would face serious fines and even jail time. We hope that knowing that this threat to us exists gives you confidence that we're being kept honest.

I really hope that this is a joke. If the law is all that is keeping you honest then you have little integrity to begin with.
MikeH
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December 22, 2013, 04:50:48 AM
 #188

probably mentioned elsewhere as it's a month old but I just stumbled upon the page..  ben swann on gox.
http://benswann.com/bitcoin-is-soaring-but-beware-mt-gox/

it's bizarre how they have been acting, they should be more specific about the issues and more apologetic or people will assume the worst, ie. they're criminal or under some form of govt. control.
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December 28, 2013, 10:58:05 PM
 #189

In an ideal world we would love to kill all these intermediaries (Banks and equivalent) that are in fact making things more complicated and more expensive... But until then we do not have much choice.
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December 29, 2013, 10:59:28 AM
 #190

Thank you for explanation but it's nearly 4 weeks happened since i sent them none my docs not approved... Hope 2014 to get approved.
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January 10, 2014, 12:01:49 AM
 #191

I was just approved on Mt. Gox, took about 2 months!! Now I'm not sure I want to trade there after hearing about the withdrawal issues in November.  I do recommend coinbase, I've been buying and selling there for a month, very easy for US customers.  I tried BTC-E, Mt. Gox, and some Slovenian exchange (forget the name at the moment).

What's the latest on the Mt. Gox withdrawals?  Are there still issues or ?
eurotalker
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January 19, 2014, 04:13:24 PM
 #192

Hello to all,

I'm kind of a newbie here, and was reading some info about Mt.Gox.
I wanted to know more about trading BTC. I found out that there are several BTC-traders.
I subscribed at two BTC-trade platsforms, one of them is Mt. Gox. I did this so I could see more of the site and its possibilities.
I found out that if one wants to trade you have to get your account approved, and for that you need to send them some documents.

Now, the thing is that I like my privacy, so I'm always skeptic if sites ask for privacy-information.
Before doing so I always check that site by reading newarticles about them or topics on forums like this one.

I found out that Mt. Gox has some 'financial troubles'. I've read about a Lawcase/suit, a fine of some millions USD they got, and on there site is written that one can make only 1 withdrawal every 20 days.
My experience tells me that whenever you read that kind of news about a site, it most of the times is no positive news but more of a warning.
As I understand correctly (?), they also now have troubles with paying the members that make withdrawals from their accounts to bank or payment processor (like OKpay for example).

Have I understood the news correctly?
What do you think? Should I, as a newbie, go on with Mt.Gox? Is there a chance that Mt.Gox come above these troubles?
Should it be better to delete my account and go trading with some other platform?

Questions, questions, questions ...
I hope one of you can enlight me a bit more on this subject.
malevolent
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January 19, 2014, 05:31:26 PM
 #193

Have you already acquired BTC and are interested in trading to profit from price fluctuations, or do you want to buy your first bitcoins?

If it's the former then you could try BTC-E or bitfinex, as they don't require you to submit your dox, stool samples, etc. if you're not planning on withdrawing or depositing fiat currencies.

If it's the latter then most exchanges will ask for the dox, but you can avoid this hassle if you decide to buy through localbitcoins.
Revelations86
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January 21, 2014, 04:57:53 AM
 #194

I'm in the same boat.   I've submitted my paperwork to MT GOX over a month ago and it still says that it's reviewing. 

How long does it usually take for US customers that are verified to withdraw their funds?
Phoenix1969
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January 21, 2014, 08:44:00 AM
 #195

I'm in the same boat.   I've submitted my paperwork to MT GOX over a month ago and it still says that it's reviewing. 

How long does it usually take for US customers that are verified to withdraw their funds?
Months


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jubalix
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January 23, 2014, 11:56:41 AM
 #196

I hear gox is takeing months in other currencies as well now. They must have hardly any cash or coins left now

::CoinWatch:: watch your PPC/BTC/LTC addresses and get a running balance, no QT, no private keys, no passwords, no logins no, sign ups.
dfraser
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January 29, 2014, 12:15:08 PM
 #197

Mt Gox is no longer honoring the withdrawal of Bitcoins either.  I decided to get out of Mt Gox, converted my fiat to BTC (at a loss) and requested a withdrawal.  I expected it to take under an hour - the whole thing ought to be automated right?

Nope

It has been 2 days now and zero indication of any activity.  But Mt Gox certainly took their .01 withdrawal fee.

MT GOX IS A COMPLETELY SHADY and INCOMPETENT EXCUSE FOR A BUSINESS.  I'm in IT and there is no reason such an operation should be screwed up - I can understand issues with dealing with fiat, but not something handled predominantly through software.  I apparently never even owned my bitcoins or even fiat, I suppose - you put money into Mt Gox, you are GIVING it to them!

Bitstamp on the other hand has been superb.
puurmaa
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January 31, 2014, 10:07:56 AM
 #198

December 2013 Mtgox withraval BTC still worked. Now they are thieves. I lost in Mtgox only 20 BTC. ., DO NOT use them anymore. ( waiting a little and see, what MTgox is tell for  users and give back our money)
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February 01, 2014, 12:03:10 AM
 #199

my account has been compromised and they stolen my BTC. as soon as i received the email with the withdrawal information. i written to MTGOX to try to cancel the transaction or to do something and that was a couple hours ago and no reply at all. hope i have my BTC back but it seems that mtgox doesn´t case. should have people dealing for this kind of urgent issues.

I SciFiCryptoCoins  ← TIP!
Streettactic
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February 01, 2014, 02:05:35 PM
 #200

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So while we'd love to be able to offset the costs a little, if we were ever caught doing this as a company, we would face serious fines and even jail time. We hope that knowing that this threat to us exists gives you confidence that we're being kept honest.

I really hope that this is a joke. If the law is all that is keeping you honest then you have little integrity to begin with.

Exactly.

Please do not deposit any funds into Mt. Gox. Puurmaa, they've kind of taken my 1BTC hostage while they decide if they respond to my requests for verification, I couldn't imagine losing 20. I finally received a response on January 24th after nearly a month of waiting. And this is after they decided to increase the wait time to 20 days from my original 10 day wait time. I can't wait to see what their withdrawal time is LOL. I'm looking at it as, if I get my money withdrawn at any point in time I'll consider myself on of the lucky few. This is a very bad public perception you have going on Mt. Gox and it's pretty much your own damn fault as a company.

My opinion is to steer clear from making any transactions with them.
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