Topic: bitfloor update (Read 480 times)
check out bitfloor now. It looks like they have a way of returning the funds. I am wondering if anyone has received them yet.
Long-time lurker. Anyway, has anyone heard anything from bitfloor regarding the return of funds to their former customers? Last update they said they received the lump-sum check with everyone's money and were working on a way to return the money.
Nothing new has been head directly from the Bitfloor company or it's founder.
There is a BitFloor customer that has been very active in following up leads with BitFloor's legal counsel and the banking institutions that have admitted to being in discussions with BitFloor. Here is the latest update (June 17) I've heard from that customer (I've replaced any people's names from the quoted email with italicized substitutes as this is a public forum):
Quote
I spoke with an ICU employee today. ICU's lawyer has advised that employee that ICU itself does not need to gather "Know Your Customer" (KYC) information about Bitfloor customers, but the lawyer said Bitfloor must collect that information from all customers in order to start processing USD refunds.
So, at this time, all the legal questions on ICU's end have been answered, as far as that employee knows. The remaining tasks required to start processing refunds appear to be Bitfloor's responsibility. That employee does not know what procedures Bitfloor may be planning to use to satisfy KYC guidelines, so we will have to wait to hear that from Bitfloor.
BitFloor founder called me shortly after I sent my previous update email (June 13). He asked me to be careful about making any statements that might mislead other Bitfloor customers regarding how refunds are going to be processed. I told him that I am doing my best to include in my updates only accurate information given to me by people I think are credible, and I invited him to please tell me if I ever include misleading or erroneous information in any update email. He did not say whether I have made any misleading statements to date, but I'll be sure to include corrections in future updates if he or BitFloor legal counsel provides any.
BitFloor founder said they are making progress toward starting refunds, and he said the reason he has not been providing frequent updates while he works on setting up the refund process is that he cannot speak freely and therefore does not want to set any false expectations or provide misleading information.
I urged BitFloor founder to start making more public updates, even if he doesn't give complete details or a finalized action plan on refunds, because it's a good business practice to maintain communication with customers in a time of crisis.
BitFloor founder said he is hoping to make another update soon.
So, at this time, all the legal questions on ICU's end have been answered, as far as that employee knows. The remaining tasks required to start processing refunds appear to be Bitfloor's responsibility. That employee does not know what procedures Bitfloor may be planning to use to satisfy KYC guidelines, so we will have to wait to hear that from Bitfloor.
BitFloor founder called me shortly after I sent my previous update email (June 13). He asked me to be careful about making any statements that might mislead other Bitfloor customers regarding how refunds are going to be processed. I told him that I am doing my best to include in my updates only accurate information given to me by people I think are credible, and I invited him to please tell me if I ever include misleading or erroneous information in any update email. He did not say whether I have made any misleading statements to date, but I'll be sure to include corrections in future updates if he or BitFloor legal counsel provides any.
BitFloor founder said they are making progress toward starting refunds, and he said the reason he has not been providing frequent updates while he works on setting up the refund process is that he cannot speak freely and therefore does not want to set any false expectations or provide misleading information.
I urged BitFloor founder to start making more public updates, even if he doesn't give complete details or a finalized action plan on refunds, because it's a good business practice to maintain communication with customers in a time of crisis.
BitFloor founder said he is hoping to make another update soon.
Long-time lurker. Anyway, has anyone heard anything from bitfloor regarding the return of funds to their former customers? Last update they said they received the lump-sum check with everyone's money and were working on a way to return the money.
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