4 ms·

The money is gone. Either fraud (founders were skimming off the top all along), or they got hacked (and the 'hack' could have been an inside job as well). Tha

The money is gone. Either fraud (founders were skimming off the top all along), or they got hacked (and the 'hack' could have been an inside job as well). That's why they're not paying out - they don't have enough funds available. Same thing happened previously to one of the largest bitcoin exchanges[1]. [1]http://www.dailytech.com/Inside+the+MegaHack+of+Bitcoin+the+Full+Story/article21942.htm http://www.dailytech.com/Inside+the+MegaHack+of+Bitcoin+the+...

il 14y ago
Or it could be the most likely explanation: the existing US federal investigation of Intrade is moving to the next phase, a grand jury has issued a sealed indictment of Intrade staff, and their assets have been frozen.
deleted 14y ago
[deleted]
vellum 14y ago
After they got shut out of the US market in November 2012, they lost a lot of customers overnight and had to pay all of them out in full. It might be something like the Madoff case, where he might still be free, if the financial crisis hadn't hit and made his customers cash out.
ig1 14y ago
Unless you have strong evidence to support that statement I'd suggest deleting it as it's potentially libellous.
- mpyne 14y ago
  That's not even close to libelous in the U.S., even if false.
  - ig1 14y ago
    I imagine saying a financial institution has lost all of it's customers money (without evidence) would be considered libellous in most countries.
    - mpyne 14y ago
      It might be in most, but not in the U.S. You basically have to cause actual damage, have malicious intent, and actually be factually untrue. In the U.S. the comment you're speaking about would be considered mere speculation/conjecture.
      - ig1 14y ago
        I assume it depends on a state basis, but IMHO the OP comment doesn't read like speculation, it reads like someone making a factual statement with the intention to influence the readers perception of the company in question.
rvkennedy 14y ago
They are paying out: Settle all open positions and calculate the settled account value of all Member accounts immediately.
- jcr 14y ago
  > At this time and until further notice, it is not possible to make any payments to members in accordance with their settled account balance until the investigations have concluded. It seems they are not paying out at this time.
- vellum 14y ago
  That just means they're tallying the numbers. Sending out checks is another story.
abrkn 14y ago
http://i.imgur.com/Y6GYW7e.png http://i.imgur.com/Y6GYW7e.png Are they paying or not?

il 14y ago

Or it could be the most likely explanation: the existing US federal investigation of Intrade is moving to the next phase, a grand jury has issued a sealed indictment of Intrade staff, and their assets have been frozen.

deleted 14y ago

[deleted]

vellum 14y ago

After they got shut out of the US market in November 2012, they lost a lot of customers overnight and had to pay all of them out in full. It might be something like the Madoff case, where he might still be free, if the financial crisis hadn't hit and made his customers cash out.

ig1 14y ago

Unless you have strong evidence to support that statement I'd suggest deleting it as it's potentially libellous.

mpyne 14y ago
That's not even close to libelous in the U.S., even if false.
- ig1 14y ago
  I imagine saying a financial institution has lost all of it's customers money (without evidence) would be considered libellous in most countries.
  - mpyne 14y ago
    It might be in most, but not in the U.S. You basically have to cause actual damage, have malicious intent, and actually be factually untrue. In the U.S. the comment you're speaking about would be considered mere speculation/conjecture.
    - ig1 14y ago
      I assume it depends on a state basis, but IMHO the OP comment doesn't read like speculation, it reads like someone making a factual statement with the intention to influence the readers perception of the company in question.

rvkennedy 14y ago

They are paying out: Settle all open positions and calculate the settled account value of all Member accounts immediately.

jcr 14y ago
> At this time and until further notice, it is not possible to make any payments to members in accordance with their settled account balance until the investigations have concluded. It seems they are not paying out at this time.
vellum 14y ago
That just means they're tallying the numbers. Sending out checks is another story.

abrkn 14y ago

http://i.imgur.com/Y6GYW7e.png http://i.imgur.com/Y6GYW7e.png Are they paying or not?