iGot Exchange – Scam Alert

igot.com is an Australian Bitcoin Exchange. Its owner is Rick Day and back in February we published an interview with the owner of the exchange. 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 me and assured me that all the customer’s complaints have been taken care of and asked me to remove our original article. We acted in good faith and removed our previous igot warning article.

It has come to our attention that once again iGot is having problems with support and releasing customer’s funds. There are threads on r/Bitcoin weekly about a customer having thousands of dollars tied in iGot with no response to support. Here are just some of the complaints:

IGOT stole my Bitcoins – 13 days ago
iGot is not trustworthy. If you deposit, you will lose your money. – 13 hours ago
Beware iGot – bait and switch designed to make you abandon your money with them! – 6 months ago
igot.com get scam – 1 month ago
BEWARE: iGot Bitcoin BTC market stole my money in what looks like the start of an exit scam. – 4 months ago
igot.com took my money. – 2 months ago
Another igot Scam Victim… – 1 month ago
Robbed by iGot – 16 hours ago

As you can see the evidence is overwhelming. It is clear that iGot’s support is nonexistant and the service is subpar. Furthermore the Bitcoin price on their exchange is $8 higher than the average bitcoin price across all other exchanges. On their site they claim to only have a 1% transaction fee, but in reality that fee is 4% because of the $8 mark up in bitcoin price.

Customers need to be aware of the issues iGot has before trusting them with their hard earned money. If their sketchy about us page doesn’t give it away, maybe the dozens of scam reports on reddit do. On their about us page they list an ABN (Australian Business Number): 66 160 051 990. Using the ABN lookup tool we can see the following info:

ACN:160 051 990
ABN:66 160 051 990(External Link)
Registration date:24/08/2012
Next review date:24/08/2015
Type:Australian Proprietary Company, Limited By Shares
Locality of registered office:SEACOMBE GARDENS SA 5047
Regulator:Australian Securities & Investments Commission

If you have an issue with the company, consider contacting the Australian Securities & Investments Commission as they are the company’s regulator. You can find further information about how to make a complaint here: http://asic.gov.au/about-asic/contact-us/how-to-complain/

If all these unsatisfied customers and complaints aren’t enough warning for you to withdraw your money from iGot and delete your account then all my prayers go to you because iGot your money.

Disclaimer: I am not a customer of iGot I am simply a bitcoin supporter reporting what I see. The sooner we bring attention to disruptive services like iGot the sooner bitcoin will reach the moon and we can all instalambo.

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