Igot Bitcoin Exchange Is On The Brink of Collapse

There have been a fair amount of different scams plaguing the Bitcoin ecosystem over the past few years, and Igot is no exception to this rule, unfortunately. Even though there have been questions regarding the credibility about this service for quite some time, it looks things have taken a turn for the worst as there is no social media activity, not customer support staff replying to tickets. The curtain call has come for Igot and all of its clients.

Also read: Bitcoin Technical Analysis for 04/02/2016 – Fundamental Questions

The End Has Come For Igot

Ever since the Igot service was launched, there was a general buzz of excitement among Bitcoin enthusiasts, as this platform was designed to let users buy and sell digital currency in a convenient manner. With no transaction fees for any transaction, Igot was on the right track to becoming the largest Bitcoin exchange platform in the world.

Unfortunately, it looks like things have gotten out of hand over the past year, as complaints regarding Igot have been surfacing for quite some time. Back in July of 2015, various scam allegations had come up, as withdrawals were delayed beyond measure. Whenever a company is dealing with customer funds, delays are not acceptable.

However, Igot founder Rick Day rebutted these allegations, as he blamed factors beyond the company’s control for the withdrawal issues. Apparently, the exchange had received a few fraudulent transactions, despite users having to go through a thorough verification procedure before being able to deposit funds in the first place.

Moreover, the Igot owner claimed the platform had been plagued by DDoS attacks which slowed down day-to-day operations for the company as well. Rather than a traditional denial-of-service attack, Igot was plagued by tons of tiny Bitcoin transactions, clogging up the wallets. However, Bitcoin community members were getting tired of all of these excuses, and things only went from bad to worse for Igot ever since.

Fast forward to today, and there is no customer support staff answering incoming emails or support tickets. To make matters even worse, Igot has been inactive across social media for quite some time, which is only adding to the overall concern.It looks like the end is very near for Igot, and customers who still have funds stored in exchange wallets would do best to file a report with local law enforcement.

Source: Reddit

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