Waiting weeks on a EUR withdrawal, no response at all to support ticket.
Am I better off waiting on, or trading for BTC and trying to get the BTC back out?
Topic: Intersango insolvent? - page 4. (Read 12424 times)
I have been an Intersango customer for several years.
Intersango may be slow to respond (it's one guy, involved in many projects and is also a bitcoin dev), but I have never seen any evidence of them being insolvent or doing anything nefarious.
Intersango may be slow to respond (it's one guy, involved in many projects and is also a bitcoin dev), but I have never seen any evidence of them being insolvent or doing anything nefarious.
Hi, I'm new here, but this topic is of interest to me.
I have sent InterSango SEPA funds that arrived on the 14th Sept, 27th Oct and Nov 21st.
I have withdrawn BTC on the 7th Nov, 21st Nov and 30th Nov.
The service was slow, with one SEPA deposit taking 9 days. Their website says that SEPA transfers are weekly, so a delay of up to 10 days is feasible, I guess... So far, I have had no concerns other than timeliness.
Are there still outstanding cases of missing funds? Icicle, are you still waiting?
I have sent InterSango SEPA funds that arrived on the 14th Sept, 27th Oct and Nov 21st.
I have withdrawn BTC on the 7th Nov, 21st Nov and 30th Nov.
The service was slow, with one SEPA deposit taking 9 days. Their website says that SEPA transfers are weekly, so a delay of up to 10 days is feasible, I guess... So far, I have had no concerns other than timeliness.
Are there still outstanding cases of missing funds? Icicle, are you still waiting?
I did a successful BIC withdrawal from Intersango.
Amount: between 1 and 2 BTC
Withdrawal requested: 4 nov 2013
Withdrawal received: 7 nov 2013
Their support page says they can't give any ETA(*) for withdrawals. How can that possibly be? Even if they manually process all withdrawals, they can still look at the size of the request queue, right?
I have a different theory: I think they're funding withdrawals with the bitcoins from incoming funds. Since they can't know when (or if) incoming funds arrive, they can't estimate when (or if) they'll be able to process withdrawals. Makes sense, right?
It would mean that Intersango is effectively doing a sort of fractional reserve banking(**), without the users' knowledge or consent, and probably without a license as well. I wonder where the funds have gone...
This also means that the last people to leave the place won't get their funds back; they'd better contact each other and collect as much data as possible right now, so they might collectively sue Intersango if it turns out that I'm right.
Anyway, I feel lucky to get my funds out of that place.
(*) Estimated Time of Arrival
(**) Or you could call it a Ponzi scheme. Interestingly, there seems to be a similarity between the two.
Amount: between 1 and 2 BTC
Withdrawal requested: 4 nov 2013
Withdrawal received: 7 nov 2013
Their support page says they can't give any ETA(*) for withdrawals. How can that possibly be? Even if they manually process all withdrawals, they can still look at the size of the request queue, right?
I have a different theory: I think they're funding withdrawals with the bitcoins from incoming funds. Since they can't know when (or if) incoming funds arrive, they can't estimate when (or if) they'll be able to process withdrawals. Makes sense, right?
It would mean that Intersango is effectively doing a sort of fractional reserve banking(**), without the users' knowledge or consent, and probably without a license as well. I wonder where the funds have gone...
This also means that the last people to leave the place won't get their funds back; they'd better contact each other and collect as much data as possible right now, so they might collectively sue Intersango if it turns out that I'm right.
Anyway, I feel lucky to get my funds out of that place.
(*) Estimated Time of Arrival
(**) Or you could call it a Ponzi scheme. Interestingly, there seems to be a similarity between the two.
You did a successful withdrawal today?? WOW.
I think your theory has merit, although I'm wondering who on earth is sending in funds. It is well known I'm wanting 51 bitcoins and change, and I'm still locked out so maybe its my funds you are all getting sent? I put in a support ticket almost three weeks ago. Got asked for ID, sent it the exact same day, heard nothing. He closed a duplicate ticket though on the 27th, so I know he knows all about it and how urgent it is.
Now you can't even put in a support ticket. Its just a 504 error.
Time to start rattling a few cages, methinks
[Edited to add] It just occurred to me, Cjp, that if you are right, a Bitcoinica type 'hack' at Intersango should be on the cards.
[Edited again to add] And it also explains why users have had to sneak their balance out one bitcoin at a time :/
It would appear he is insolvent. Why else would you kill someone's dog? And in public???
[Edited yet again to add] And also, if what you think is correct, another comfirmation besides a hack would be his lawyer dumping him. She knows a customer from Intersango is missing $10k of bitcoins (more like $15k now) because I copy her in. At least, the lawyers I know would dump a client under those circumstances.
I did a successful BIC withdrawal from Intersango.
Amount: between 1 and 2 BTC
Withdrawal requested: 4 nov 2013
Withdrawal received: 7 nov 2013
Their support page says they can't give any ETA(*) for withdrawals. How can that possibly be? Even if they manually process all withdrawals, they can still look at the size of the request queue, right?
I have a different theory: I think they're funding withdrawals with the bitcoins from incoming funds. Since they can't know when (or if) incoming funds arrive, they can't estimate when (or if) they'll be able to process withdrawals. Makes sense, right?
It would mean that Intersango is effectively doing a sort of fractional reserve banking(**), without the users' knowledge or consent, and probably without a license as well. I wonder where the funds have gone...
This also means that the last people to leave the place won't get their funds back; they'd better contact each other and collect as much data as possible right now, so they might collectively sue Intersango if it turns out that I'm right.
Anyway, I feel lucky to get my funds out of that place.
(*) Estimated Time of Arrival
(**) Or you could call it a Ponzi scheme. Interestingly, there seems to be a similarity between the two.
Amount: between 1 and 2 BTC
Withdrawal requested: 4 nov 2013
Withdrawal received: 7 nov 2013
Their support page says they can't give any ETA(*) for withdrawals. How can that possibly be? Even if they manually process all withdrawals, they can still look at the size of the request queue, right?
I have a different theory: I think they're funding withdrawals with the bitcoins from incoming funds. Since they can't know when (or if) incoming funds arrive, they can't estimate when (or if) they'll be able to process withdrawals. Makes sense, right?
It would mean that Intersango is effectively doing a sort of fractional reserve banking(**), without the users' knowledge or consent, and probably without a license as well. I wonder where the funds have gone...
This also means that the last people to leave the place won't get their funds back; they'd better contact each other and collect as much data as possible right now, so they might collectively sue Intersango if it turns out that I'm right.
Anyway, I feel lucky to get my funds out of that place.
(*) Estimated Time of Arrival
(**) Or you could call it a Ponzi scheme. Interestingly, there seems to be a similarity between the two.
Oh I've been reading, believe me. Strateman won't let me get $10k of bitcons back out. Its very sad actually as I need the money for an operation for my daughter's dog.
He knows all about it and still won't hand the bitcoins over so I got to wondering if he had actually spent my $10k on his defense in San Francisco.
I mean, I'm an English woman living in the US who left a small amount with him long ago and never traded it. It grew into $10k and he might have thought I'd forgotten about it or that nothing would happen to him if he took it.
I'm interested to note that as recently as early October, Intersango was still functioning.
Or maybe he is selective in his thieving? On the face of it I would have looked like a good target - foreign, miles away (he thinks). Either way, he is a week over the deadline my husband gave him so I guess it is time to report a crime.
He knows all about it and still won't hand the bitcoins over so I got to wondering if he had actually spent my $10k on his defense in San Francisco.
I mean, I'm an English woman living in the US who left a small amount with him long ago and never traded it. It grew into $10k and he might have thought I'd forgotten about it or that nothing would happen to him if he took it.
I'm interested to note that as recently as early October, Intersango was still functioning.
Or maybe he is selective in his thieving? On the face of it I would have looked like a good target - foreign, miles away (he thinks). Either way, he is a week over the deadline my husband gave him so I guess it is time to report a crime.
When was the last time anyone successfully withdrew any amount from Intersango? I am having terrible trouble getting my bitcoins out of there.
Read up on the "people" pushing the "service" you're using before you hand over BTC. Continuing to divert funds to the incompetent is a bad move.
When was the last time anyone successfully withdrew any amount from Intersango? I am having terrible trouble getting my bitcoins out of there.
2013/10/01 both paid in and received BTC. Can not get fiat in though and do not know viability of exchange. Will have to wait and see what happens before dealing with them again. reg.
ps: no response to ticket asking what "delayed" means under BTC withdrawal in fee's section?
Just found a credit report that shows a CCJ (county court judgement) in the UK. I also see the accounts were not audited, something I should have thought was important if they were taking deposits.
And, Amir Taaki is listed as a shareholder. That can't be correct can it? He just told me he wasn't.
And the accounts were late being filed.
Something's wrong here. If it wasn't for the fact Intersango are ignoring my requests to transfer my bitcoins out of there, I would assume it was my data.
And, Amir Taaki is listed as a shareholder. That can't be correct can it? He just told me he wasn't.
And the accounts were late being filed.
Something's wrong here. If it wasn't for the fact Intersango are ignoring my requests to transfer my bitcoins out of there, I would assume it was my data.
Yeah, though they didn't tell me. I'm thinking mine were the last bitcoins left and they thought I wouldn't be wanting them.
I thought they died a long time ago? 
When was the last time anyone successfully withdrew any amount from Intersango? I am having terrible trouble getting my bitcoins out of there.
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