Igot is an Australian based Bitcoin exchange, if you haven’t heard of it by now then there is only one thing you need to do, stay as far away as possible from that service. The exchange has seen more complaints from users whose funds were held hostage than any other service in the Bitcoin ecosystem. We first wrote an interview with the owner of igot when problems started to arise back in February. Interestingly enough, before the interview we had an article written about why you should stay away from iGot like the plague. However, the owner decided to contact us and assured us that all the customer’s complaints have been taken care of and asked us to remove our original article. We acted in good faith and removed our previous igot warning article, realizing that was a big mistake . Rick Day Igot Owner While igot maybe have processed some legitemate transactions with a few customers, there are way too many complaints about the exchange from people on reddit and the bitcointalk forum. The main issue that users face is getting money out of the exchange once they make an ACH or a wire transfer to the exchange’s bank account. While many have complained on reddit without a resolution, one user in particular seems to have figured out a way you can get your money back from igot.
According to rhyno116 from r/Bitcoin, by contacting the South Australian Consumar Affairs he was able to get Rick Day (the owner of the exchange) to turn over the funds he was holding hostage. Funnily enough, Rick Day claimed that the user didn’t read the terms of service so he wasn’t eligible for a refund, but the mighty power of a Federal Agency will scare even the sleaziest scammers to turn straight. […]
