I had 8 BTC in Mintpal V1 5 seconds from buying MNs when it was taken down instantaneously with no email warning, message on website or Mintpal twitter, then 2 weeks of sending emails, support tickets even legal threats and not 1 single response and no sign of the coins. And no I don't 'keep coins on the exchange' only when I buy stuff I will shoot anyone who comes and says that now LOL.
Ouch.
I hope you get your coins back.
I was wondering how English bankruptcy law sees depositors. If they're considered unsecured creditors then we're at the bottom of the pecking order if they have a lot of debt - specially tax and VAT. On the other hand if moolah didn't actually own Mintpal then the funds might indeed be safe but the question is "who does".
They say "a statement to follow". Lets see.
You are correct. We are unsecured creditors and bottom of the pile in the UK.
I had to fill out all the FSA forms and pass their fit for running a business tests a few years back. Takes 6-9 months to go through the application and vetting procedures.
Technically, coins held for customers are client funds and should be held in client accounts and should not be mixed with business and operational funds. They should be in identifiable segregated locations and customers should be able to get everything back.
But, this is crypto and the regulators haven't caught-up 100%, so there are risks with these funds not being considered client money.
Does anyone even know where Mintpal is located as a business and where (country) their servers are located?
