Author

Topic: Received ~1,000,000yen (~$10k) withdrawal from MtGox on 2014-Feb-25 (Read 949 times)

newbie
Activity: 9
Merit: 0
I bet they were shit scared of getting into trouble with the local authorities and decided to pay out their JPY withdrawals as a priority.



Yep.  Even if they do want to fix it, getting those withdrawals out ASAP was important.

Yeah i guess they are buying some time to hold of the local authorities.
Since that guy who recieved his 10k$ payment from gox, was waiting from January already...

But we will see how it evolves Smiley
legendary
Activity: 896
Merit: 1000
I bet they were shit scared of getting into trouble with the local authorities and decided to pay out their JPY withdrawals as a priority.



Yep.  Even if they do want to fix it, getting those withdrawals out ASAP was important.
sr. member
Activity: 462
Merit: 250
I bet they were shit scared of getting into trouble with the local authorities and decided to pay out their JPY withdrawals as a priority.

newbie
Activity: 9
Merit: 0
There is a post on reddit about gox users getting money out of gox a day before closing!


Edit: I'm a moron, should read 2014, not 2013. Can't edit titles so it will stay as testament to my idiocy.

I'm located in Japan and have a business account with MtGox. I am actually located quite far from Tokyo and have never met anyone related to Gox. My only interaction with them was to get the account verified when I opened it and a couple of support requests regarding account limits.

Anyway, on Feb 25th I received all of the cash withdrawals that I made during January. These were Japanese domestic transfers that are generally very fast (same day), not international wires that seem to take a month or more.

To be clear: I do not have any idea what is going on with Gox. I don't know if my money arriving is a fluke, a stroke of luck, or if they are starting to get things back on track.

I had written this money off as gone forever so I'm understandably pretty happy to see it in my account. I wanted to share to let people know that the Gox news is not all bad.

Edit 2: People are understandably asking for proof. Here is a scan of my business' Japanese bank book(https://i.imgur.com/xC5ungK.jpg). Anyone else who has a bank account with a major bank in Japan will be able to confirm this is a legit bank book scan.

Japanese dates are a little weird. Years are counted by the length of the reign of the currently sitting Emperor. Currently we are in Heisei 26. Therefore the dates in the book are 26-2-25 for 2014-Feb-25.

I have left the first five deposit amounts visible. The last three amounts are different and are from after I had the Gox withdrawal limit raised. The first five amounts were 100,000yen less the 262yen service charge to transfer the money to a domestic account in Japan.

Edit 3: It's 1:25am here in Japan right now and I need to get some sleep. I'll come back sometime tomorrow Japan time in case anyone needs a reply.




http://www.reddit.com/r/Bitcoin/comments/1z379i/received_1000000yen_10k_withdrawal_from_mtgox_on/


[–]cryptominer

The Japanese police tend to be pretty public with their raids and other crackdowns. They literally show up at an office and then the news crews film them leaving with boxes of paper records. So I doubt there has been a police bust of any sort at Gox.

Regulators are another matter entirely however and are not something I have experience with. I can imagine Japanese regulators leaning on Gox to pay out the JPY balances but that does not explain the SEPA transfers. The SEPA transfers seem like something that wouldn't have happened if Japanese regulators were involved but that is pure speculation on my part.

I think the most realistic explanation is that Gox is actually trying to fix this. Who knows how long it will take or what the end result will be, but I do think they are trying.
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