Dwolla can no longer process deposits or withdrawals to MtGox - page 6.

wildbud

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Quote from: myself on May 14, 2013, 04:13:26 PM

Quote

Update: Here is what Mt. Gox sent us in response to a request for comment:

Thank you for the email. We can see that the Dwolla transactions are not getting processed right now. We will contact Dwolla and post an announcement regarding this. Your patience is appreciated till then.

http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/

So they didn't even get notified and have no plan to deal with the issue. That is not a good sign.

old_engineer

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Quote from: notme on May 14, 2013, 04:06:04 PM

Quote from: old_engineer on May 14, 2013, 02:58:13 PM

Maybe MtGox couldn't legally follow through with the customer transfer because they knew about the DHS issue, but were prohibited from telling Coinbase? Stranger things have happened in the American legal system.

Coinbase != Coinlab

Thanks, updated my post. Everything is bit-this and coin-that...

myself

legendary

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chaos is fun...…damental :)

Quote

Update: Here is what Mt. Gox sent us in response to a request for comment:

Thank you for the email. We can see that the Dwolla transactions are not getting processed right now. We will contact Dwolla and post an announcement regarding this. Your patience is appreciated till then.

http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/

notme

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Quote from: old_engineer on May 14, 2013, 02:58:13 PM

Quote from: crazy_rabbit on May 14, 2013, 02:47:25 PM

Quote from: old_engineer on May 14, 2013, 02:46:22 PM

Quote from: N12 on May 14, 2013, 02:32:32 PM

Does Dwolla work for large amounts of money? I would think that international wires are the most important.

Depends on your definition of "large". Maximum single transaction size is $5000 by default, but they say they can process up to $99MM transactions. I'm sure MtGox has received millions through their Dwolla account over the past couple of years, but I really have no idea how much per month is going in or out.

My guess is that DHS has claimed it's an AML issue because 'errorism.

Might be an AML issue. Thats what coinbase was supposed to have taken care of. ooopss!

Maybe MtGox couldn't legally follow through with the customer transfer because they knew about the DHS issue, but were prohibited from telling Coinbase? Stranger things have happened in the American legal system.

Hmm, looks like some people are selling - did I break the news that caused a mini-selloff? Bitcoin has survived all the SEPA withdrawal problems, and it will survive Dwolla cutoff, too.

Coinbase != Coinlab

deltanine

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Quote from: mccorvic on May 14, 2013, 04:02:34 PM

So, this pretty much puts Dwolla out of business, right? Why would anyone use Dwolla as anything but a conduit to Gox?

Maybe Dwolla as a conduit to CampBX?

wildbud

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Quote from: Newscastix on May 14, 2013, 03:49:14 PM

Quote from: wildbud on May 14, 2013, 03:47:54 PM

This will be VERY interesting to see if they begin trying to attack bitcoins using the DHS.

They have just begun...

We don't know the details I will hold my judgement on saying they have begun when we start seeing a trend. They are not attacking bitcoins they are just attacking the relationship between dwolla and mtgox. But I dont think we are far off from seeing them attacking everything crypto currency.

mccorvic

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So, this pretty much puts Dwolla out of business, right? Why would anyone use Dwolla as anything but a conduit to Gox?

dbru77

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Quote from: NamelessOne on May 14, 2013, 03:39:16 PM

I thought it should have won best picture. Argo was great, but ZDT had more gravity.

I agree. Both movies are very compelling. ZDT felt almost like a documentary while Argo has more "story-telling" elements.

CurbsideProphet

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Quote from: Peter Lambert on May 14, 2013, 03:51:25 PM

I am actually uncomfortable with the way Dwolla is handling this. Why are they telling anybody who asks that the MtGox account has been frozen by court order? Isn't there some sort of client confidentiality? This seems to be just making MtGox look bad.

Because that's part of their TOS. From the article:

Quote

"Dwolla requires a court order before honoring requests such as seizing funds or revoking access to an account,” he added.

They wouldn't have done it if they didn't receive a court order so either they tell you or you use common sense to put two and two together. I don't see any breach of confidentiality.

melvster

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Quote from: Peter Lambert on May 14, 2013, 03:51:25 PM

I am actually uncomfortable with the way Dwolla is handling this. Why are they telling anybody who asks that the MtGox account has been frozen by court order? Isn't there some sort of client confidentiality? This seems to be just making MtGox look bad.

+1

Peter Lambert

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It's all fun and games until somebody loses an eye

I am actually uncomfortable with the way Dwolla is handling this. Why are they telling anybody who asks that the MtGox account has been frozen by court order? Isn't there some sort of client confidentiality? This seems to be just making MtGox look bad.

Newscastix

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Activity: 349

Merit: 250

Quote from: wildbud on May 14, 2013, 03:47:54 PM

This will be VERY interesting to see if they begin trying to attack bitcoins using the DHS.

They have just begun...

melvster

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Activity: 350

Merit: 250

bad for the US

bad for gox

bad for dwolla

great for the rest of the world

great for bitcoin

wildbud

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Merit: 250

This will be VERY interesting to see if they begin trying to attack bitcoins using the DHS.

italeffect

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http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/

looks legit

what a bummer, I used this a lot.

Aseras

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Quote from: mgio on May 14, 2013, 02:40:26 PM

This is very bad.

I used Dwolla exclusive for getting money in and out of MtGox. They were great and cheap as others have said before.

We need a US-based exchange to open up QUICKLY. This is not good news for bitcoins. It's only becoming harder to acquire bitcoins now.

use bitpay

Miz4r

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So this explains the sell off that happened just now, I was wondering what was going on. Oh well nothing gained and nothing lost, moving on...

KeyserSoze

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Seems pretty well-timed from gov perspective. We have the "upgrade" tomorrow and the conference in a couple days. Wonder if CampBX got the same treatment?

Peter Lambert

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It's all fun and games until somebody loses an eye

Quote from: mgio on May 14, 2013, 02:40:26 PM

This is very bad.

I used Dwolla exclusive for getting money in and out of MtGox. They were great and cheap as others have said before.

We need a US-based exchange to open up QUICKLY. This is not good news for bitcoins. It's only becoming harder to acquire bitcoins now.

Check out campbx.com?

jordan.dev

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Quote from: dbru77 on May 14, 2013, 03:36:38 PM

This maybe slightly off-topic but is it really surprising that the DHS may be concerned regarding money flows through bitcoin?

Just watched Zero Dark Thirty the other day where the CIA tracked down an al-quaida suspect because he transferred 5000$ to another al-quaida member's bank account. Not the smartest move obviously.
Reminded me of bitcoin as it's the perfect tool for almost any illegal activity one can think of.

If I was responsible for tracking down terrorists and tracking down their donators, bitcoin would piss me off big time.

(btw Zero Dark Thirty is a pretty good movie)

subreddit /r/bitcointerrorists
subreddit /r/bitcoinforjihad

if we can get everyone to post there we'll be able to track them... Wink

Topic: Dwolla can no longer process deposits or withdrawals to MtGox - page 6. (Read 13055 times)