Bitcoin Exchange Igot Challenges Scam Allegations

rick day

The founder of Australia-based bitcoin exchange igot has refuted claims his business is a scam.

Igot recently came under fire, with many of its users complaining about delays to their withdrawals, branding the company “untrustworthy” and claiming they’d been robbed.

Rick Day, igot’s founder told CoinDesk the delays particularly affected fiat withdrawals, attributing them to a number of factors.

“They [the issues] are as not as big as they appear from the outside … one of the biggest issues that we have with delays is banking relationships.”

Strained banking relations

Day said the exchange had received a few incoming fraudulent transactions into one of its bank accounts in Australia.

“The person sending the funds basically used stolen bank accounts to fund igot wallets and withdraw bitcoin and [then] disappeared,” he explained.

This particular igot user, Day added, had a verified account, which raises questions around the company’s verification procedure. Day explained:

“Their account got verified by providing legitimate documents. Problem is, it was not that person’s ID. We’ve seen this many times and enforce video calls for many of our users to prove they are who they say they are. By the time we got to that point with this account,

Read more ... source: CoinDesk