Topic: Announcing a new bitcoin exchange with UK banking - www.bit121.co.uk - page 2. (Read 6699 times)

If you look at the beggining i did register myself, i did have little walk about on their school project and thats it. im not that stupid to transfer any money to someone whos only contact was email address and it was wrong at the beginning.

No thank you, for advice about something from new created account which involves my money.

If you so succesful please use it and profit from it as much as u like.
Not only me question owners and others in thsi thread about this so called exchange.

And to many !!! signs in one sentence means buisness...which is nothing else than scam.
Even OP abandon his post so not that great after all.

the website works !!!

Have you tried it yourself ?

as newbie posting info about exchange which looks like school project ,means that 121bit must be legit. so u saying u paid 165 us dollars to UK account by exchange?

okpay allow now GBP to buy btc so this exchange is not needed anymore. close that scam and.move on...

I used bit121 to trade 0.38 bitcoin and got paid my £165 very quickly into my UK bank account

website bit naff, no order tables , needs to trade other coins too

other than that very honest !!!

good for us UK residents

If you send GBP from your bank to a EUR denominated account (SEPA transaction), you will get the banks GBP-EUR exchange rate which will be around 3%-5% above that of the actual exchange rate.

So, you will find that you are paying a hell of a lot more than just the 10GBP deposit fees!

As for bit121, I have registered but haven't used it yet. I want things to be much more transparent with the site layout than the 'bidding' into the dark thing that they got going on at the moment. Also this 'security' feature whereby coins are held in offline wallets and require a waiting period in order to allow a human to release them is bs. With something as volatile as Bitcoin, if I buy Bitcoins, I want control of them immediately! I don't want them sitting in some buggers offline wallet whilst their spending power possibly plummets.

....even Intersango was better than this ffs.

If the Bitcoin Exchange Ltd - https://bitcoinexchangeltd.com - has stolen your BTC I would urge you to also file your own Action Fraud report:

• online at http://www.actionfraud.police.uk/home
• or phone 0300 123 2040 within UK, +44 161 234 9230 elsewhere

Action Fraud are now well aware of this scam, but adding your report to those already filed further raises its profile and likelihood of being stopped sooner.

You'd best get that fully resolved before using your otherwise unestablished identity to ask that people trust in your business. Not that it was going much of anywhere to begin with. Go back and read the linked piece in my first comment. There are specific safeguards you can take against identity theft in BTC. That you are unaware of this bodes poorly for you whether we believe you're the victim here or not.

Post added to r/bitcoin reddit: http://uk.reddit.com/r/Bitcoin/comments/1upeaa/bitcoin_exchange_ltd_possible_scam_be_warned/

Michael Harris the guy appearing on https://bitcoinexchangeltd.com/order.php online chat support when its up claims he is just a chat operator unable to make decisions when challenged to rectify issues. However, http://www.whois-search.com/whois/bitcoinexchangeltd.com shows he is the registrant of this domain.

Will keep you posted of developments.

This is a great shame that a decent UK centric btc exchange is being screwed with by fraudsters. James, is there any news on your fraud report to the police?

Doubt mods here will help much 'we don't take down posts of known scammers' is the usual line. Until you can get their website shutdown. Your best bet is to alert the community, and hope no one else falls for the them. Perhaps stick a post on r/bitcoin reddit with some proof of fraud too.

To be fair bitcoinexchangeltd.com. looks scammy as hell I wouldn't trade there with two condoms on.

To Tort, James Murrell and anyone else involved with Bitcoin2pocket and the website https://bitcoinexchangeltd.com

Bitcoin2pocket are carrying out a FRAUD. And, I believe the same people are now carrying out a FRAUD with a website called https://bitcoinexchangeltd.com.
I suggest nobody goes near them and sends a report to the police.
These two companies are carrying out an Identity Theft of my name and my company's business address. 

My name is James Richard Iddiols and I am the CEO of Bitcoin Exchange Ltd, the owners of bit121 with a website address of www.bit121.co.uk which is our only website address.
We do NOT have a website called bitcoinexchangeltd.com.

My name (James Richard Iddiols) is plastered all over the bitcoin2pocket website and in blogs.
It is highly unlikely that the owner of bitcoin2pocket has the same name. They certainly do not trade from our address, nor does he run Bitcoin Exchange Ltd. He has damaged my good name and that of my company and our exchange. I have notified the police by calling the number on this site www.actionfraud.police.uk. and I suggest that anyone else involved with either bitcoin2pocket or the website bitcoinexchangeltd.com do the same asap. 

Anyone who are being scammed by these two companies can contact me via the bit121 email address ([email protected]) and we can arrange to talk by telephone. I can also provide anyone with the Fraud Report Reference Number.

(By the way ... the moderators who run this website ... do you do anything to stop this sort of thing. In effect, you are advertising scammers. When I press the report to moderator. What happens? What action do you take?) 

Just to clarify please see earlier post by the owner James Richard Iddiols (bit121 here):

No these 2 companies have the same owner, registered at the same UK address.

Until I get my money or my BTC back both are suspect.

My experience so far with just one of this guy's business isn't one I'd wish on anyone - just think people should be made aware of the risk here.

Think your in the wrong thread ^ ?

edit: missed that

I recently had a very nasty experience with the https://bitcoinexchangeltd.com

I placed an order to sell BTC expecting this to be honoured at the advertised rate on their order form or at least something approaching this.

A day after receiving my BTC the trade still hadn't happened.

I tried emailing and phoning them but no response.

Eventually their chat box popped up so I used that to query what was up. I was told:

• They hadn't responded because it was an unannounced company holiday (in the middle of a standard UK working week ?!?)
• That my BTC couldn't be refunded without them taking a loss because the rate had since dropped - which of course is nonsense since it would be cheaper to buy back

I said fine, then credit me the funds for which it was traded less your fees. This they refused to do, offering a lower price instead. Initially I refused insisting on the refund. Then they said they could pay me a better rate if I sent them more BTC. Which I refused.

Finally in exasperation I agreed to the lower rate offered. At which point they promptly withdrew their offer claiming the market rate had changed. I queried if in fact my BTC had been traded, because if they had what would it matter where the rate was subsequently and if they hadn't why not issue me the refund as requested? This they refused to answer.

They then offered me an even lower rate which they again withdrew the moment I accepted and promptly closed down both their chat and support boxes.

So now they have my BTC and I still have nothing.

It seems very much as if they have no intention whatsoever of refunding my BTC or paying me for them.

They claim to be partners of BTC-e and Bitstamp. I'm now checking if this is the case.

Unless I get my BTC soon, or the offered cash payment credited I'll have no option but to conclude they are indeed a complete scam - in which case I'll be reporting them to Action Fraud with the police.

I'll keep you updated here as to what happens.

To Mr James Murrell,

I am sorry to have to confirm to you that you have been the subject of a fraud. My name is James Richard Iddiols and I am the CEO of Bitcoin Exchange Ltd, the owners of bit121. It is highly unlikely that the owner of bitcoin2pocket has the same name. They certainly do not trade from our address, nor does he run Bitcoin Exchange Ltd. He has damaged my good name and that of my company and our exchange. I have notified the police by calling the number on this site and I suggest that you do the same asap, www.actionfraud.police.uk.

You will note by clicking on my ID that I joined this forum 8th November, while the other James Richard Iddiols (owner at bitcoin2pocket) joined on 13th December and was last active on 18th December. Please contact me via the bit121 email address ([email protected]) and we can arrange to talk by telephone. I can also provide you with the Fraud Report Reference Number. 

so u saying , someone stole your name and used in scam. now u acting as ceo of so called exchange which looks like school project, is expensive(not competitive), have no history what so ever, have no info on webpage apart from email address, is ltd company, cannot disclose who acctually is operator for transfers and all this upset you NOW because one user accused you of scamming him from 650gbp? I have to admit you got a point(sarcasm) and I feel your pain. obviously bitcoin business which become scam and this business which defacto is bitcoin business again have nothing to do with your name what so ever? so some one randomly picked your name and used in scam just like that? if quacks like duck...and u know the rest.

An update to Mr Murrell's comments.

Having done a search of bitcoin2pocket, I am now as upset and angry as Mr Murrell. Bitcoin2pocket is obviously a scam to which Mr Murrell has been a victim. The so-called company have used my full name as the owner (I assume they picked this up from bit121), so I suppose I am also a victim. I can categorically say I am NOT the owner of bitcoin2pocket. I'm obviously angry as this is potentially damaging to my professional and personal integrity. Naturally, I have reported this to the moderator.

I have to respond to Mr Murrell.

None of us engaged in bit121 have had anything to do with bitcoin2pocket.com. I have never ever heard of them. It is sad that someone has stolen £650 from you - but please ascertain facts before accusing innocent parties. And please be bothered to find details ... you won't find any. Now, you have also supplied a webpage: http://www.ccdni.com/director-james-richard-iddiols. All the facts on here are true (of course there is no mention of bitcoin2pocket). I will advise of the three companies listed. Bitcoin Exchange Ltd is the company of which I am CEO; Mizaco is "dormant" - we were thinking of using this name but decided against it. bit121 is "dormant" also - we registered the name as protection against our website brand.

So, I 100% reiterate - None of us has been involved with any other exchanges of any type and in any way.

 

I am gonna call you out here, Mr. Iddiols. That is complete rubbish right there. You have been involved in bitcoin2pocket.com and one other website. They both use the same name as you, James Richard Iddiols, and come from the same address. Now becuase I have accpeted that you have already stolen £650 from me then I will not bother to supply the details. But you can all check it just by googling the name on the internet. Here's the webpage: http://www.ccdni.com/director-james-richard-iddiols Now you tell me that doesn't say you are at 3 different very new companies.