Reduced owed balances
Posted: Sun Sep 02, 2018 7:21 am
For the past few weeks, we've been watching as the amount of zero-liability money owed to customers has grown. Most of this money is owed to a few large customers who have either:
Unfortunately, many of these customers have not taken action despite these notifications, and thousands of litecoins collected in our wallets. Therefore, we took $100,000, moved it, and wrote the key down on two pieces of paper. Since the money is no longer accessible by the system, the "payout coins owed" now shows $100,000 less than is actually owed in total.
If you are owed money due to one of these messages, you can still claim it by correcting the errors. If we run low on money to pay you, then we'll need to go to one of the locations where the papers are. There is likely to be a delay, and we apologize for that.
- Failed to submit 1099-MISC or W8-BEN data
- Failed to enter payout addresses to claim free money owed to them from a fork
- Revoked authorization from Coinbase or closed their accounts before money could be transferred to their Coinbase accounts
Unfortunately, many of these customers have not taken action despite these notifications, and thousands of litecoins collected in our wallets. Therefore, we took $100,000, moved it, and wrote the key down on two pieces of paper. Since the money is no longer accessible by the system, the "payout coins owed" now shows $100,000 less than is actually owed in total.
If you are owed money due to one of these messages, you can still claim it by correcting the errors. If we run low on money to pay you, then we'll need to go to one of the locations where the papers are. There is likely to be a delay, and we apologize for that.