Topic: Is MtGox Bankrupt? Not giving access to funds ... says other customers affected (Read 30380 times)

Yep.  You'd have to be out of your mind to hold anything at Gox right now.

Here is the info I have receive from CS this morning:

Hello lano1106,

Thank you for your email.

Please be note that this SWIFT code change has effective from July 1st of 2013. But the customers those who are deposited the funds in the old SWIFT code, will be processed shortly. We will keep you updated on that.

 

4 weeks for me.

Waiting 3 weeks for a wire out. Bullshit CS responses. There's clearly an issue

Yes, agreed.

I think I will open a bitstamp account to have a 2nd option.
Coins are cheaper and their fee structure is pretty good too:
https://www.bitstamp.net/fee_schedule/

Anyone who deposits into Gox, after the USD "hiatus", deserves what they get.

I just got an even more rediculous reply from MtGox:


So, after querying why I still don't have my money after 8 days, even though their reply was 1-5 days, MtGox just changes their mind and says oh, now it is 7-10 business days.

What a load of BS.

They are using incoming money to pay for outgoing withdrawals ... they have no funds ... ponzi!!!

wow, thanks for the heads up. I always use the same information with bankers when I am initiating a wire to there

Does anyone know if MtGox is audited by a reputable thirdparty ?

probably liquidity crisis you know how many people sold BTC -> USD last week during the crash especially when they couldn't cash out for a week? a lot of merchants cash out on a daily basis to fix BTC to fiat and mtgox really played havoc on it

got this crazy scenario.

I am extremely frustrated to have missed the opportunity to buy BTC below 70 USD while my transfered funds are frozen I don't know where. At the speed things go, I even wonder if I'll be able to buy BTC below 100USD.

Here is a quick scheme an exchange could do for a quick buck

Once bottom are in, froze incoming funds (which you know will be for buying BTC obviously), buy BTC with the customer funds and pump the BTC price at the same time
finally credit customer account funds and sell them back BTC you bought with their money for a profit!

The SWIFT is not a very big deal.

Old one MHBKJPJT

New one MHCBJPJT

first 4 letters are the bank code
next 2 country code
finally the last 2 are location. My guess (Japan,Tokyo)

MHBK = Mizuho Bank
MHCB = Mizuho Corporate Bank

They have reached the size where they got offered (forced?) to move from retail banking to investment banking branch.

Thing is that makes me unhappy is that it is kinda communicated after the facts. Could they have not planned a smooth transition?

I am discovering with horror after having done my first wire transfer deposit and without having done any due diligence before the horrible delays that people are enduring.

As I said earlier in this thread, I initiated the transfer last week on July 2nd. Went to my local bank this afternoon to query the status of the transfer. The person who did check seemed confused. She asked me if I was sure to have provided to correct SWIFT code as apparently there was no bank account with the number I provided at the SWIFT location. Based on her system, my transfer did bounce back on July 5th but she wasn't sure since my bank account did not get credited back the amount of the failed transfer.

This afternoon, the explanation sounded unbelievable but tonight I know that she was right. I Would like explanation from MtGox about why it is announced only on July 10th about the SWIFT code change when it apparently occured somewhere last week?

They needed to use your money to pay people who are withdrawing.

So as soon as someone else deposits some money they'll be able to credit your account.

That's how it works right?

Maybe far fetched but i think they have issues on the level of governments on their shoulders. A new SWIFT code suddenly could also mean that those who tap SWIFT transactions want it to be easy to track every transfer to Gox using a unique SWIFT code.

When did you request it?

I wish my payment did bounce back ... at least I would have access to my money again.

Instead, MtGox DID receive my money, but are not putting it into my account!!!

When I log into Gox i see a red message just above the buy/sell tabs, "Sending a WIRE TRANSFER to your account? The SWIFT code for depositing to Mt. Gox has been changed by our bank. Please find the new information under the "Funding Options" tab. Transferring using the old code could cause your deposit to bounce-back, possibly incurring fees at your local bank. "

Just got this reply from MtGox ...




My reply:



No answer yet

This is not about transferring money OUT of MtGox ... its about massive delays in sending money TO MtGox, MtGox saying yes they received it, then not putting the money into our MtGox account to use.

This just seems like 2011 all over again, when people started moving a lot of money out of gox everything ground to a halt back then as well. At some point I had to wait 8 weeks for a SEPA transfer to clear in the summer of 2011 while during the bubble up to 31 you had your money in a couple of days.