Topic: [Resolved] MtGox mishandled sensitive AML info. - page 3. (Read 14583 times)

If Gox pays for the hassel, then I think all should be forgiven. It's not acceptable, but this sort of stuff happens. I'd rather a company gracefully correct their mistakes then claim to never make mistakes.

Awww look, it's the TBF incrowd downplaying each other's mistakes!  

Too unfortunate that it is our misery, not their.

May I suggest Bitfloor (although it got a bad start) or Bitstamp.

This is blowing my mind. Of course a private person responsible for only their own stuff could give a wrong shipping address! Why does that matter at all? Beyond that if I a wrong shipping address it 100% automatically falls on me, I don't get my stuff.

Also how can they overlook it? Aren't other people sending documents there? After a month you would think they might go "Huh, we don't get documents now that we moved".

Bleh, we need new business so we can finish putting this one out of our misery.

Mark's a director also. Plus you, that makes two directors. Two is plural.

A director of the BF runs the biggest and most fucked up BTC exchange on the net. Another director, you, is covering for his fuck ups by saying "shit happens". You both share corporate seats on the BF's board of directors.

Can you at least admit that you can see why this might reflect poorly?

You could try posting about this on /r/Bitcoin.  For some reason, their staff sometimes respond more quickly over there.

You mean Director. You used plural Directors.

Thanks.

Yep.

I've asked the Bitcoin Foundation for a refund of my lifetime membership fee. I don't wish to associate with or support this kind of behavior from directors of the foundation.

Well I would add it has been 12 hours since MtGox was informed of the wrong address on their site and the website STILL HAS THE wrong address.  

I don't know how much louder they can say  .... "FUCK YOU CUSTOMERS. You exist to give us money and we have no responsibility to you."  

I mean Yankee says it isn't gross incompetence well even if that is true (which I adamantly disagree) it certainly is gross negligence when informed on the negligence and you take no action to correct it.  When someone reports the fact that you have blatantly wrong information on your site which is causing people to send sensitive personal information to a wrong address, get off your lazy ass and at least DELETE THE FUCKING PAGE.  Period.




On edit:  Cleaned up some blatantly bad spelling and grammar (bad even for me)  Typing while infuriated is harder than it seems.  

MtGox has a bad history, but still the highest volume exchange.. Last time I logued on MtGox, it was to remove all my funds, because I do not trut this entity anymore.. Bad new, I had to send 2 IDs pic to be able to withdraw all my BTC.. less than 1k.. no U$ involved, I've been unable to get my BTC before sending IDs.. I tought it was really bad, but as I wanted my BTC, I sent IDs..

You can be sure I'll never do business with MtGox again, why ? 

1 - IDs required to withdraw BTC ?? No thanks

2 - Biggest exchange, I vote for less centralisation of exchanges

3 - to many bad story about MtGox

4 - Trading manually or with my "self coded scalp-bot", I've seen too many trade error, trades that should have occur/commit and did not.. 

was my personal story / opinion !

Uh Oh!  smoothie found us.  There goes the neighborhood.  It's been nice having a semi-intelligent conversation on bitcointalk.

I think it's also something of a cautionary tale.  PayPal is monumentally successful but it hasn't really remained true to Thiel's original vision of becoming the financial payments system of the world or addressing the inequality of wealth distribution. 

What mtgox now outsourcing to Inida like Dell does?

Me no speakA any engurish! 

There is a great book called "The Paypal Wars" which details many of the obstacles Paypal had to overcome in launching and maintaining their nascent startup that makes for a facinating read for anyone interested in this subject.  Obstacles like scammers, illicit use and Govt regulations which are not unlike what bitcoin is facing today.  However true to what repentance says paypal would never have become what it did with out first having the ebay market and then being acquired by ebay.   - Bitcoin is still looking for its ebay.

Sounds like a nice little sign on their door at their old place that just says (in Japanese) MtGox has moved. Please forward all deliveries to: ___(new address)___ ... There, problem solved.  Surely the new tenant would appreciate not having to answer the question over and over, "They moved. No, we Don't know where"... so they should appreciate/allow a simple sign on the door.

Or over a month ago, see https://bitcointalksearch.org/topic/curious-about-mtgox-110356

In the US MSB are required to post bonds from $0 to $500,000 per state so the process it not possible for a bootstrap company with out deep pocketed and/or connected investors (Dwolla).

Are the requirements Paymium were required to comply with as costly in the EU/France?

repentance

while this was not a ruling on bitcoin that fact that the "nature" of bitcoin was not relevant in the French ruling is relevant for the fact that some say bitoin is not a "currency", not a "stored value" and not "prepaid access" (US FinCEN TERMS) but merely cryptographically signed messages (or merely a digital notary service) would not fly.

I don't know if there are other rulings, I believe not outside of this series (a couple of preliminary rulings were made prior to this one, but they are all summed up in the one I posted which is the final ruling).

I don't know if this ruling sets a precedent.

What I know is that the legislation is supposed to be consistent accross Europe, Paymium (the company I work for) got some specialized legal advice regarding this matter, and we found that in order to operate the Bitcoin-Central exchange securely (as in secure for our users fiat funds), we had to implement some legal compliance steps that go way beyond implementing some KYC/AML/CTF procedures according to the Payment Services Providers and Electronic Money Services European regulations.


I don't believe this to be true, the MSB registration form is fillable online and it's like two pages long. And if Bitinstant did it, and if karpeles threw 10kBTC at the Bitcoin Foundation I really see no excuse for mtgox to at least try it.

If you read the whole court ruling you'll see that at some points karpeles outright lies to the court, so I would take his word with a grain of salt.

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Again, these regulations are relevant to licensed financial institutions, and their contractual partners. I have no proof that mtgox is not a contractual partner of a licensed financial institution (absence of proof is obviously not a proof of absence) but I feel that if they did land such a partnership they would have at least bragged about it, and they would be required to include it in their ToS.

Again, what bothers me here is not that mtgox is unlicensed, it is that they appear to not even try (remember if Bitinstant did it, why would mtgox fail if it tried).