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Anyone that is thinking about using Dwolla needs to read about this incident and understand what happened. Dwolla was completely unable to understand or handle
by shtylman 14y ago
Anyone that is thinking about using Dwolla needs to read about this incident and understand what happened. Dwolla was completely unable to understand or handle the fraud. In addition, they are in total denial that the only reason anyone cares about them is because MtGox (a bitcoin exchange) uses them and brings lots of volume to their platform.
I run Bitfloor and was hit with similar fraud as Tradehill (on a much much smaller scale) and Dwolla was just as ignorant and dismissive of it. Fundamentally, they went into a business that they did not understand. I know this to be true because early on (even before any Tradehill incident) we emailed them to ask about ACH chargebacks and how they handle them. They claimed there were no chargebacks and this was everything I needed to know about their lack of understanding.