EgoPay Reportedly Freezes Funds of Several Bitcoin Exchanges, Support Unresponsive

EgoPay, a processor supporting fiat payments to several cryptocurrency exchanges, has reportedly frozen the funds for several of its clients.

EgoPay, a processor supporting fiat payments to several cryptocurrency exchanges, has reportedly frozen the funds for several of its clients.

Among them are BTC-e, which claims to have $80,000 of its $89,458.29 with EgoPay locked inside a frozen wallet. Slovakian exchange GOLDUX.com reports $7,183.

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Peyeer, another payment solutions company, reports $185,503.32 stuck in EgoPay.

Other clients are reporting problems with its API, with Poland-based Bitmarket.pl saying it received transaction notifications but not the funds themselves. There have also been observations of transactions reverting from “completed” to “pending” status.

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Users logged into EgoPay’s website now get the following message:

“EgoPay Members will be experiencing higher than normal review times for all withdrawals and deposits as EgoPay is currently conducting a system migration. EgoPay will now be able to provide a more secure network for all members through which to complete their online transfers. EgoPays standard review time frames and service level agreements will return to normal and EgoPay appreciates your cooperation and understanding.”

Several clients have reported not receiving responses to inquiries for over two weeks. The live support continues to remain offline.

Previously, EgoPay had frozen as much as $150,000 of BTC-e funds. The companies traded blame over the incident, with BTC-e alleging insolvency and alleging the processor stole client funds, while EgoPay accused BTC-e of using them for personal uses.

The company is reportedly based in Lithuania and registered in Malta. It does not state any certification with a financial authority on its website.

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