Open Letter To The GDCA Regarding e-Bullion
Dear Mr. GDCA President,
I have been writing and blogging lately about the possible or alleged recent issues regarding e-Bullion. I feel, as do many readers, it is important to determine whether these possible issues are rhetoric, a few unhappy agents or possibly big events that will effect the industry as a whole… I now see that the GDCA has posted a warning regarding e-bullion at: http://gdcaonline.org/content/news.html
In that warning it states that :
“….E-bullion.com closes and/or freezes accounts without any court order or reasonable justification, sometimes freezing customer funds forever.”
- Please present proof of these events by showing the closed account documentation and any correspondence with e-bullion regarding that account and its closure.
- Please comment on why e-bullion closed the account or accounts, any justification e-bullion presented or did not present.
- Please provide your opinion as to why e-bullion has taken this action.
- Please provide evidence of e-bullion seizing or freezing account holder funds and not returning them as stated in your comment/warning above. Who had their funds ’stolen’ or has stated they had funds seized?
- Please show me the evidence of a rumored investigation by the USSS, because I heard a rumor they were going to be bought by Donald Trump. Rumors are not fact and have no place in an industry ‘warning’ without supporting information. Provide me these facts or the person openly commenting about an ongoing investigation being conducted by an agency of the US government.
- Please provide me copies of any complaints from users that the GDCA may have received regarding e-bullion for the past two years.
- Please include e-mail or other documentation so these can be verified by me.
- Please provide me any exchanger opinions or complaints which you have documented regarding the policies and terms now in use by e-bullion.
You should know that I have already been in touch with Mr. Joseph Hamilton, CISSP Chief Technical Officer, e-Bullion.com, on several recent occasions regarding these stated rumors.
Its my firm belief that resolving any problem whether minor or serious can be accomplished by logical discussion and clarification of facts, not rumors and flaming.
I would appreciate it if you can comment here below this post at your earliest convenience, whether you can or will produce the above requested material to me via email. All other comments and questions are welcome. Feel free to remove any personal or financial information from these documents. After hearing from you, Mr. Hamilton of e-bullion will again be contacted for his comments, he is available and reaching me just fine.
Thanks and I look forward to hearing from you soon.
Mark Herpel
Thank you for asking these
needed questions.
As an exchanger, I’m a member of the GDCA. I’ve also been dealing with e-bullion.com for over 8 years. I’m happy to continue.
I’m an exchanger too, even if not as long as Mr Kelly. My experience from E-bullion is good, and the communication with their people are easy going when needed, so I’m looking forward to see more on GDCA’s warning and how they will back it up. If they ever will……
That’s the problem with self-appointed watchdogs. Who watches the watchdog?
Excellent work, Mark. I hope we get answers to these charges.
Dear Mark,
This is a complaint and explanation to the GDCA by Autocambist.com, a GDCA member. E-bullion refused to even acknowledge or reply to any emails asking them about it, choosing to completely ignore the GDCA and its attempts to obtain a reasonable explanation or settlement:
———————————-
To: Global Digital Currencies Association
Re: Follow-up to official complaint
Autocambist has launched an official grievance against the business and principals behind the online payment processor and exchanger: E-bullion.com and GoldFinger Coin & Bullion.
Autocambist alleges that E-bullion is in breach of contract.
Notwithstanding E-bullion’s boilerplate language in its terms of service, which is both vague and overly broad and which should not be relied upon on the grounds that enforcing them is unconscionable, E-bullion has breached its contract with Autocambist by failing to perform agreed-upon services, and has aggravated such a breach by further damaging Autocambist’s business and unduly converted Autocambist’s funds.
1. Doctrine of unconscionability
http://en.wikipedia.org/wiki/Unconscionability
E-bullion, having superior bargaining power which it has proven with its recent actions, should not be allowed to rely on its ToS that states, generally, that it can freeze any account for any reason. Autocambist believes that E-bullion’s ToS cannot be relied on in this dispute because it is unconscionable.
2. Misrepresentation
http://en.wikipedia.org/wiki/Contract#Misrepresentation
Autocambist has been falsely induced into entering into a contract with E-bullion to provide Autocambist’s clients with a third-party payment system so that Autocambist clients (though E-bullion believes that all clients belong to E-bullion simply because they have an E-bullion account, and thus E-bullion can sever any third party’s relationship with these clients at their whim) can do business online.
Based on E-bullion’s public representations and conduct (freely allowing even fraudulent sites that have been reported to E-bullion to continue to exchange E-bullion) of promoting the free exchange of its currency, Autocambist has entered into this contract under false pretenses, or misrepresentation, on E-bullion’s part. Therefore, the ToS cannot be enorced and Autocambist is allowed damages.
3. Duress
http://en.wikipedia.org/wiki/Duress_%28contract_law%29
E-bullion announced to Autocambist on Thursday, the 12th of July, 2007, to cease all incoming and outgoing operations immediately and to liquidate its account(s) by the end of day, Saturday, July 14th, 2007, effectively allowing only one business day for Autocambist to request wires only from GoldFingerCoin & Bullion at a rate of 2% and 3%.
E-bullion charges 3% and 2% fees for “liquidations.” A reasonable person would take that to include voluntary liquidations, and not “forced liquidations.” We have not asked for this service, since we have fully intended to sell the E-bullion to third parties, not at a loss of about 2%, but at a profit of AT LEAST 2%, a 4% differential, which we have suffered as a loss due to E-bullion’s actions.
Undue influence is an equitable doctrine that involves one person taking advantage of a position of power over another person. We are willing to forego asking for damages in the amount of 4% or 5%, but we are adamant that e-bullion should, in the least, return the approximately 2% “fee” that they have forced upon us with this liquidation.
4. Autocambist’s good faith
Our records will show that Autocambist has helped E-bullion recover well over a hundred thousand dollars worth of fraudulent payments that we stopped at their request. Not only that, but it was the idea of Autocambist for E-bullion to implement into their API the “cryptocard rule” where only cryptocard users can use Autocambist (and other automated exchangers) to complete exchanges, while non-cryptocard users have to wait 24 hours for their exchange to be completed. E-bullion is continuing to benefit from this idea that we have shared with them.
Furthermore, at no time did E-bullion accuse or imply that Autocambist has ever done anything untoward or unsavory with regard to its sole purpose of exchanging digital currencies.
5. Tricks, frauds, and restraint of trade (see Sherman anti-trust Act)
Autocambist.com is a separate business entity from any other and has, through its own marketing efforts and expense, accumulated clients and offered them services, while recommending to such clients that they use various digital currencies, including E-bullion, the effect of which is that such clients use various digital currencies to interact with Autocambist, with full knowledge of this by E-bullion. E-bullion’s unilateral, baseless, and unfair action irreparably harms Autocambist by separating Autocambist from its clients, and vice-versa, after Autocambist entrusted E-bullion with its clients, thus interfering with Autocambist’s contracts and business, in an apparant contravention of E-bullion’s public claims that they are a digital currency that is freely exchangeable with other currencies and as evidenced by E-bullion’s continued willingness to allow many other exchangers to continue to operate using E-bullion, though on a smaller scale and, not accidentally, driving more clients to E-bullion’s own exchange operation, GoldFinger Coin & Bullion.
Autocambist was duped into a false sense of security while marketing and sending its own clients to E-bullion in anticipation of meeting these clients’ exchange needs only to later be completely cut off from our own clients. It is our contention that E-bullion’s underhanded actions are both calculated, purposeful and are tantamount to fraud.
We are able to show evidence, including evidence from other reputable exchangers, that this tactic has been used by E-bullion throughout their business from the beginning of their existence. It is further our intention, if we receive positive judgement from the GDCA, to take these issues much further on the legal front, including discussing E-bullion’s restraint of trade policies with the Justice Department of the United States.
Should the Global Digital Currencies Association rule in our favor, we request, in addition to damages listed below, that the GDCA issue a warning on its main page about E-bullion.
6. Damages
a) Autocambist requests that E-bullion refund $4,000.00 in liquidiation fees;
b) that E-bullion issue an apology to Autocambist;
c) that E-bullion send the last wire that Autocambist requested as part of the forced liquidation that Autocambist has not received in over a week.
———————————-
Regards,
Vice-President
Global Digital Currencies Association
http://www.gdcaonline.org
So the GDCA has one complaint from AutoCambist? That’s it? I have no word back from the president of the GDCA, who is that anyway? I understand whom ever that is might be a busy man, so am I, but to scribble down a few answers to a blog post does not take 10 minutes.
This is how the GDCA has performed -in slow motion or not at all- for years now. What have you done for us lately? E-bullion gets right back to me. Why can’t the GDCA officers, members, business league or whatever, tell me why there are rumors circulating of a USSS investigation (this hurts everyone in the industry), show me the extensive list of e-bullion complaints they received from GDCA members besides AutoCambist, SHOW ME WHAT ACCOUNT(s) HAVE BEEN FROZEN AND HOW MUCH THEY KEPT?
Finally, how do you expect e-bullion to respond to a GDCA complaint when they are NOT a member of your organization? What possible influence do you feel you can use over any organization that is not a part of your membership? I see PayPal is also on the non-member list. Do you feel that the PayPal corporation will sit down at the table, listen to your member complaints and take your advice?
I’d like the president of Walmart to respond to my emails but I have not heard back from him yet either. This seems to me to be a big waste of time. Right now from this one complaint, it appears that AutoCambist is angry because of the way they were treated and has complained about an organization that is not a part of your membership.
What else have you got for us? That is not enough to issue the warning you put out. Its overkill, its bias and it hurts the industry further. It may also be unfairly steering business away from e-bullion toward e-currency operators who are your members and that are mentioned in the WARNING.
What accounts were frozen and what funds stolen? Let’s start there.
Mark
This is not the only case! e-bullion has been freezing accounts without justification for about a year. At one time last year apparently their database was hacked; they reset all passwords of non-cryptocard holders and made them jump through hoops (impossible hoops for some) to regain access. They must have pocketed at least several $10ks from this “idea”. They are a thoroughly unethical company in my book that will grab whatever they can.
http://www.santabarbara.bbb.org/…BBB
another reader has sent me this BBB listing showing an ‘F’ rating for e-Bullion offices in California, USA.
Mark
Autocambist? They are the source for the complaint?
Well…. I have a LOT of customers that have been robbed by someone (spyware? bad PW policy?) that then very fast have exchanged it out with kind help of Autocambist.
Autocambist knows that they are used by scammers but choose to look away and don’t help e-bullion or the robbed customers. They prefer to support anonymous scammer and Moneylaundring, so who is tha crook? E-bullion or Autocambist?
Nice iniative Mark. To me all is clear about the “complaint” now. Also My opinion on GDCA is clear now.
Skandway is a fraud – they belong with E-bullion.
My e-bullion was taken away about 8 months ago, close to 14K, basically claiming that their “TOS” allows them to do so as they please. I even requested verification myself, called them numerous times and filed a complaint with BBB – all with no resolution in sight. I am preparing legal action against them as we speak, and will post updates here.
I would like to thank Mark and GDCA for finally exposing the truth e-bullion.
I am glad that this E-bullion issue is now public. I also had my account closed for no reason and even though they promised to wire me my $500.00+ that was in my account they never did and never answered email or phone calls. I never had any such problems with any other currency. I hope E-bullion rots in hell.
Well I don’t know about you other readers, but that seals the deal for me. 2 anonymous email addresses at Yahoo and Hotmail posting, no actual names, no dates, no account numbers and imagine my surprise when I see they are both NY IPs. What are the odds of that happening? Snap!
What was I thinking, let’s strangle those e-bullion scoundrels. [sarcasm] I AM NOT CONVINCED, PROOF PLEASE, I was born at night but it was not last night. Come on guys, innocent victims…provide some proof of this stuff please. I appreciate you both taking time to respond in the comments and look forward to hearing more and seeing updates. Thanks again, respectfully, Mark
We are dealing with e-bullion. We are currently buying from them 20K weekly since May without any issues.
Jakub, could you please explain that a little bit more? On what facts are you basing this observation?
Skandway is an E-gold and E-bullion exchanger. Do you REALLY believe that E-bullion should tolerate a “part of them self” doing business with e-gold too? Please be more clever before posting next time.
My e-bullion account has been disabled and I’ve tried for over a week now to get it reactivated, used their forms, emailed them, and as I’m writing this, I’ve been on hold for over 30 minutes now to their Los Angeles office trying to get in touch with someone to get my account reactivated. I’ve received absolutely NO response to any of my attempts to contact them and get my account reactivated. Any suggestions? What the heck’s going on?
Hey Mark,
I’m sorry that I didn’t drop everything, put my life on hold and immediately responded to your post.
I am indeed acting president of the GDCA and was away on business. The position is voluntary and I am not being paid for it in any way, which means that I have to earn a living by other means.
As I do however appreciate your work and efforts, I asked the one person who had been dealing with the complaints and who was best informed, to reply in my stead.
Now then, and don’t get me wrong please, why on Earth does the GDCA have to provide third party data to you in order to justify its decission to issue a warning? Moreover, how could the GDCA justify to those third parties that they disclosed their identity and account details on a public forum, because Mark Herpel asked for it?
I was initially not involved in the complaints against e-Bullion, but was ultimately the one who took up the arbitration request, because I believed that I would be the most impartial (c-gold.com not withstanding), as we are not an exchanger, and as I am quite capable to setp outside the court and pass judgement on myself, if need be.
In brief, there have been complaints about e-Bullion for the last several months, involving other exchangers, some of whom are also GDCA members.
There have been statements of opinion in support of those complaints from two of the most respected persons in the entire industry, both of whom had no direct advantage of making these statements to me – WHEN I ASKED FOR VIEWS among the main players in the business – nor are they involved in that side of the business.
I then contacted e-Bullion for a statement. No reply. I then informed e-Bullion that the GDCA was asked to arbitrate in the Autocambist dispute. No reply.
Don’t you agree that that warrants a warning?
Believe me, the text of the warning that is on the GDCA site is a very courteous and highly edited version of what two GDCA members actually hoped we would issue.
And I did fully expect that e-Bullion would take this as reason enough to actually get back to us. Instead they continued to refuse to give us that courtesy.
This behaviour then reminded me of INTgold…
That said, the fact that they did not even address the rumour part of the warning – which is in fact what it is, a rumour brought to me from two different and unrelated sources, unprompted and unasked, I might add, and to which e-Bullion didn’t feel any need to reply.
Or, they weren’t allow to reply, maybe? After all this is one of the strategies US authorities seem to favour. Slapping a court order on people that keeps them from warning others who may be under investigation.
So, to sum up, e-Bullion had every chance, and still does, to get back to me. It’s as simple as that. I am not known for rash reactions or emotional decissions, for all I know. I wrote the text of the warning because it is how the situation presented itself to me – and till today, still does.
If e-Bullion is clean, they should say so. Then you can ASK THEM to prove their innocense, and we can suggest to our members to make YOU arbitrator.
If they agree to that, I don’t see a problem with disclosing facts and figures, data and events to you.
But trying to ask for something you know I can’t provide without being breaching trust, and then taking the fact that I didn’t answer you right away as some sort of admission of something or rather, mate, that is beneath you.
Cheers,
Robert.
Mr. President,
Thank you for taking time to reply. Here are some quick responses.
(Mr.P) “I’m sorry that I didn’t drop everything, put my life on hold and immediately responded to your post. ….taking the fact that I didn’t answer you right away as some sort of admission of something or rather, mate, that is beneath you.”
>>The thing is Robert, I did not write an open letter to you, I wrote it to the President of the GDCA. I sorry you are so busy, and I appreciate you taking time out of your busy schedule to respond. See the BIG problem here is not that you take it so personal I wrote to you and criticized your busy schedule, the fact is no one I spoke to beyond Ragnar, even knew who the president of the GDCA was until your post here.
Who are the vice presidents, who is acting secretary, what are your plans for the next year and what did you accomplish last year? Now don’t write me back saying well I’ll get back to you when I’m not so busy or those plans are secret…the last year, e-gold was indicted and changed an entire industry…what does the GDCA think about that….there was no even a peep from you. What’s happening in the future and what is the GDCA doing to improve our chances? I’ll tell you, Webmoney.ru thinks like this, they plan, they resolve problems and grow.
Further, I don’t care if you are busy, I’m glad…but the GDCA is supposed to represent an Industry, if you are busy hire someone who can respond in less than one week, this is not a recent problem. This has gone on for years. People try to join and don’t hear back from the GDCA in a month’s time. The GDCA web site lists companies as members that have been out of business for 6 months ! Its not your fault you are busy and can’t work it out time to respond to GDCA email, its not your fault that the companies you the GDCA write to don’t take you serious enough to even acknowledge your existence. This is a GDCA industry problem, its not because of your scheduling concerns. Get it done, don’t make excuses. Lead, follow or get out of the way.
Don’t act like your organization represents people and then tell me you are to busy to hire a person to answers one simple email. Read this blog post, like a dozen people were able to respond before on peep from the GDCA. As president you should have people working round the clock to improve the image of an industry and work to better it. If you don’t have the time or money, you should stop acting as if you do. People don’t care what the GDCA says….No one listens to you and you don’t appear to be doing much in the way of positive things for any companies.
Industry organizations and trade groups, smile and shake your hand and answer email, they don’t take weeks to get back you in an anonymous emails like some secret organization.
If you can’t run a proper organization perhaps its time for the GDCA to close and stop pretending.
Its the GDCA’s fault they are sloppy (not Robert’s, you are a great guy and fantastic businessman) and if that is because you are busy, hire someone. If you can’t afford it or no one wants to then maybe you should consider shutting down and not acting like you are an industry organization representative of member and non members. You are not, complainants don’t get answers, you can’t force anyone to pay that doesn’t want to or you side against and you can’t even get one of the largest players in the DGC world to even respond to your printed open complaint. People and companies don’t want to join the GDCA because the GDCA doesn’t do anything positive for its members. Look at other industry organizations, people can’t want to join and network with other members and receive benefits of the group, people run from the GDCA! E-bullion wrote me back twice with no problems answering and speculating on the complaints.
Thanks for your response, I’ll write more later.
I said in the open letter you could remove names and any personal information, beyond that the basic information is no breach of security that is a lame excuse. If you want action you can provide the basics.
mark
Hey Mark,
What we did we do last year? We registered the GDCA as a formal business association in the UK.
We endlessly tried to explain to the authorities there that we had no bank account and didn’t want one.
We waited a year for the people who were supposed to build the new website – and who had received payments – to finally deliver.
We anwered an average of five emails a day, deal with one or two complaints from the general public, resolved an average of three disputes a week, and tried to get half the industry to either support us, or take over, or stop wasting our time.
We answered a few mails from officials and gave a probable lobbyist the cold shoulder much to her surprise.
We did it all free of charge and are barely getting by. The reason I am still acting president despite having refused two nominations for the job, is because I feel that until we have a more formal way to deal with things and find a neutral person who is qualified, knowledgable about the industry and by and large a-political, I’m probably the best bet.
Now, if someone addresses a letter to ME, I’m happy to answer and am usually fairly quick about it as well. When you posted the “Open Letter” I was away on business, and, I am admittedly stubborn enough not to let others dictate my actions.
I realize that you didn’t know that I was acting president. And until now I tried to avoid to make it public knowledge because of the possible implications for CyberFrontier ventures (not in the least because of the hard-earned gold plaque from before I even became an officer).
In other words, to avoid claims that I might be benefitting from the position with cyberica hosting or even c-gold, I tried not to make a big deal about it.
Next, the official secretary of the GDCA Ltd is a secretarial service, and I shamelessly exploited my position as a husband to force my wife to become the treasurer – extra work, no pay.
Your example of Webmoney.ru as an outfit that plans well, is lost on me in regards to the GDCA. The GDCA is a business association, not shareholder company designed to maximize shareholder value.
The people the GDCA does in fact represent are the people who are members in good standing, nobody else. But as it so happens, the GDCA seems to be the only body that represents anybody in the industry.
The fact that the new site didn’t come together is probably the main reason for the disorderly mess the GDCA is dealing with everyday.
Of course, I we didn’t want to give the job to anyone connected to the officers, because then there would have been cries of bias, more than there always are.
Lastly, yes there are sites listed that are out of business. However, I decided that until and unless a membership lapsed or a member informed us about his or her decission to leave the organisation, that their membership would remain intact.
In the end, the best way to communicate with us, is the online form. It is amazing how fast people often get a reply. But we can’t afford to hire AND TRAIN someone at this stage, because after having paid for a new site that never materialised, we now have to pay for a new one that hopefully will materialize – and which will also automate most everyday procedures, freeing up capacities for other tasks, such as training staff.
Now that I’m out in the open anyway, why don’t we do an interview and set things straight once and for all?
Cheers,
Robert.
ok, so the owner of C-Gold is the president of GDCA??? What a shady fu*king business…
I know *you’re* not buying this Mark? Are you ?
@C4G
THAT is exactly why I was reluctant to come forward, because cyberica.net and other CF ventured earned their gold ratings BEFORE I became an officer.
And I then felt that being acting president on top would put other ‘new’ digital gold currencies at a disadvantage when we launched c-gold.com and it would become public knowledge that I happen to be prez of the GDCA as well.
Now, as to your attempt to bad-mouth my business, or the GDCA or myself, well, let’s put it like that, I am out in the open, trying to do what’s right. You are C4G… Who do you think is fu*cking around in the shadows, to use your expession?
I have repeatedly made it clear in the past eight years that I didn’t want to run a currency.
I turned down two nominations for president of the GDCA in the past two years.
Yet, I am running a brand new currency and am acting president. You know why? Because of people like you… I know myself, and trust myself, and apparently so do the members of the GDCA – which constitute about 65% of global DGC commerce volume between them. And up until c-gold, nobody could have ever suggested that I might be biased or have an agenda. Now, with c-gold gradually growing, the very people who contribute so little to the overall industry are of course the experts who have to slander me.
This then brings me to the point where I will simply say, who really cares about your slander? I know that I’m not crook, as do many of the people whose opinions count in the industry. Who on earth are you again?
Cheers,
Robert.
Chairman of the CyberFrontier Group
GM of c-gold.com
President (acting) of the GDCA
<p>Thanks for your comment, I will post a large piece next week with all my details from both sides and an opinion on what went wrong. Yes, the President of the GDCA is Robert also the owner of C-gold. But the GCDA (which as far as I know is just a total of two people (Robert, another person and Robert’s wife as the secretary) did not put out a warning to steer customers to c-gold, I don’t feel that is the case after emailing everyone. In fact that kind of statement is 100% inaccurate. </p>
<p>However, as President, he could have recognized in advance that this would pose a conflict of interest, perhaps c-gold should just not have been included in that ’suggested’ list to avoid a look of impropriety even though I feel there was absolutely none. I’ve known Robert a long time and he’s a VERY good guy.<br />
He did not campaign and get voted into that position, he did not really want it…that position fell on him and he’s done as good a job as anyone for free. But at this stage of the game, with so much going on in the industry with such growth ahead, I strongly believe that the industry trade group need to be built by a group, a board or an advisory committee of many (perhaps 13-15 industry people) so that precisely this issue will never come up again. </p>
<p>In its current state, two people, one of which does not communicate to the public as even being related to the GDCA, CANNOT speak for a billion dollar a year industry. There is no mention of Webmoney anywhere and they are the strongest e-currency in the market now. That is just one example of what’s missing here. </p>
<p>Representation by the largest digital currency? We need to include everyone, all players and work together if there is to be proper representation and a positive move forward. Two people with full time jobs, other companies and full time responsibilities CANNOT possibly create the kind of positive future an industry trade organization needs. </p>
<p>In a nut shell here is what I feel happened, e-bullion has a TOS, when you open the account you agree to it and WILL abide by it as long as the account is in operation. If when you opened the account or at any time after you don’t like the agreement, don’t do business with them. Its as simple as that. I’ve talked to three dozen industry people and they all say the same thing, vote with your dollars. If you don’t like them or don’t agree, don’t use them. PayPal has one too[TOS] and they close accounts all the time. Perhaps the persons whose e-bullion accounts were closed should have opened a e-bu….sucks.com web and stated their case. Outside of the GDCA warnings, everyone commenting or emailing me is happy with e-bullion. No one so far has had money ’stolen’ ‘kept’ or seized, if the TOS were violated, the funds were requested outexchanged and they were. Anyway, Robert tells me via email they have received 4 major complaints 2 were agents. All accounts were frozen but the funds were either returned or are in route. Perhaps they are late in getting back to the original owner? If anyone reading this can give us a confirmed case by amount and date (no names) so that we can follow up with e/b, I’m happy to try. There is NO evidence any funds were kept and that is how the GDCA Warning reads. Its not accurate. Furthermore, the reasoning behind WHY the accounts were blocked and requested refunded is sound in my opinion. What’s the solution, the Warning, needs to be reworked, reworded to be more accurate, less slanted, perhaps backed with facts like …”over 4 months we received 4 complaints for a total of $135,445, two of which were from reputable exchange agents, and all of these accounts were closed claiming violation of TOS. If you are not careful this could happen to you. We recommend other digital currencies like Webmoney, e-gold, pecunix etc” (not LR or c-gold)</p>
<p>Comments welcome and I will try to wrap this up next week in a few posts and not the comments area. As always, these are just my opinions of the facts I have seen, I’m trying to be respectful of all parties, I don’t have any financial interest in any outcome and I don’t want the job as GDCA president, this position should be replaced with a bakers dozen or more people and when they issue a press release or warning, it will have teeth and mean something.<br />
Mark</p>
To tell the truth, this is what I have been seeing ever since StormPay’s issue with 12DailyPro. Everything was snowballing since then. StormPay starting freezing accounts of ponzi autosurfs and HYIPs, and any users who uses them. MoneyBookers follow suit. Now, Pecunix, AlertPay and EBullion along with E-Gold are freezing or block accounts of people involved in scams like these ponzi autosurfs and HYIPs. That includes owners of these programs that are considered as scams by many law enforcement agencies around the world. AutoCambist if I remember right from reading the court documents for E-Gold was one of the accounts mentioned as being siezed by the feds. If this is the case? Then the feds must have ask EBullion to freeze their accounts as well. There is a hint that AutoCambist might not be who they say they are.
e-bullion is a crook. i have open several account but all are disable and also i have funded some of the account.
i love e-gold.
I withdrew most ($5000 US) of my E Bullion account and it never arrived at my bank account. If U try and call them from outside US you get message saying call during office hours regardless of the time of day. The only email response I got was “Your wire shows to have gone through. Please contact your beneficiary bank” Who wants the $70 still in my account?
I have big problem with AutoCambist.
I made EB->EG exchange order of $1381 on
AutoCambist less then 24 hours before EBullion blocked their account.
AutoCambist froze my order and it’s still not processed, more then 3 months later. They even ignore my emails.
My eb account is still working normally.
I had my ebullion hacked one day (wasn’t a cryptocard user at the time) and $3,000 or so disappeared one not-so-fine Saturday morning.
I was able to trace the thief as a gold-ex.com user.
I contacted gold-ex about this, then contacted e-bullion as well.
Both companies actually helped me get my ebullion back! I was both surprised and relieved at their professionalism and their fast reaction.
ebullion froze my account so no more funds could be taken (I couldn’t even log in myself!), and gold-ex.net put the money back into my account before this thief had the chance to get in into their hands.
The only thing ebullion required of me was to purchase a cryptocard so this would never happen again.
So I did. They unfroze my account and now everything is back to normal — even better actually.
I for one have no problems with ebullion. Now if they DO decide to arbitrarily freeze my account, then I would have a problem, but it has never happened to me and I had several thousand dollars flowing through ebullion for months before the hack occurred — AND I was also privy to one internet businesses’ account that had over $750,000 in it with several tens of thousands of dollars flowing through THAT account for quite some time — once again, never a problem with e-bullion.
I am starting a new company soon and have been weighing heavily which ecurrency to use for transactions, which is what brought me here — because of all the rumors surrounding ebullion problems.
So far, I haven’t seen a strong enough argument from ebullion users “en masse” to change my mind about how good ebullion still seems to be.
I hope they remain as one of the leaders for a long time, in fact my new business may count on it! :)
So obviously written by the e-bullion company.
haha, 75K in an ebullion account…..the whole story is such BULL. Just a lame advertisement made up of more lies by these scammers. And yes, I’ve lost 340$ in Ebullion with no explanation whatsoever. Plus its stupid how they block you for 15 minutes if you don’t log out. Want real advice: AVOID E-Bullion at all costs.
Could it be that the scam rumour about eBullion was perpetrated because it is a Panama-based company that is outside US jurisdiction, and people are being (calculatedly) discouraged from using their services by financial-interests-with-an-agenda? Don’t believe everything you read, see or hear.
Autocambist is operated by Ragnar who is currently out on bond pending money laundering and other charges.
Autocambist is basically a website used by criminals to “instantly” launder their ill gotten gains to another payment system.
Want to know details of my problems with e-bullion?
There was a hold put on my account.
I have been waiting over a week for some contact from these people.
This happened last summer, too. It took nearly a week to get a contact.
This is not an anonymous complaint. If Mark Herpel wants to contact me, he has my email address.