"Please note that all other transaction services are unaffected and you can continue to use your MuchBetter account and funds as usual for top-ups, withdrawals, transfers to and from merchants and P2P transfers."
T0uchTheSky wrote on 02/16/2023 at 4:09 PM: "Please note that all other transaction services are not affected and you can continue to use your MuchBetter account and funds as usual for top-ups, withdrawals, transfers to and from merchants and P2P transfers."
They lie like crooks
yes as I said I'm already waiting 7 days and support already gives no more information, are anyway standard answers
Like many here, I have been waiting for my money for over 1 week. The support assured that it would take up to 72 hours for crypto withdrawals. For bank withdrawals 3-5 business days. Both deadlines have now already been exceeded and since then no trace of the support.
I have filed a complaint with the BaFin.
NuggetKing wrote on 02/16/2023 at 17:46:
this brings nothing, this is from mutch. i also wait already 7 days 15std nothing happens, and they don't even answer
since 2days
Yes the support also does not answer me anymore. But I am curious about the result of BaFin. They will confront MuchBetter with the accusations and demand a statement.
Yes the support is not answering me anymore either. But I am curious about the result of the BaFin. They will confront MuchBetter with the allegations and demand a statement.
that will be nothing as it looks like mutchbetter will unfortunately be broke otherwise the service would still be available or do I see that wrong?
So I don't know if it's already here somewhere but I found the following on the topic (I'll translate it since I can't put links in here)
A crackdown by the Lithuanian banking regulator has led to Crypto.com customers fearing for the safety of their account balances.
Earlier this month, the Bank of Lithuania ordered local payment processor Transactive Systems UAB to stop providing services to existing customers "whose activities are related to virtual currencies (including virtual currency exchange operators, virtual currency wallet operators, virtual asset exchanges, virtual asset loans)."
The Bank of Lithuania issued its order after inspecting Transactive, which found "significant violations and shortcomings of the Law on Prevention of Money Laundering and Terrorist Financing." The order was issued based on "the scope and significance of the violations found" and will remain in effect until the bank issues a final decision at a later date.
There is a possibility that the client funds Transactive managed for Crypto.com are indeed "safe," but only because they were seized by Lithuanian authorities. While Crypto.com would be able to maintain its "all is well" facade in this case by fulfilling some customers' minor withdrawal requests, processing withdrawals for all affected customers would require either (a) a large cash injection to tide them over until Lithuania releases the seized funds, or (b) dipping into other customer deposits à la FTX to maintain the illusion of solvency to stave off a banking storm.
So I can't say that MuchBetter is facing the same problem as Crypto.com but it seems to be very similar.
Julien0520 wrote on 16.02.2023 at 18:07: So I don't know if it's already here somewhere but I found the following on the topic (I'll translate it since I can't put links in here)
A crackdown by the Lithuanian banking regulator has led to Crypto.com customers fearing for the safety of their account balances.
Earlier this month, the Bank of Lithuania ordered local payment processor Transactive Systems UAB to stop providing services to existing customers "whose activities are related to virtual currencies (including virtual currency exchange operators, virtual currency wallet operators, virtual asset exchanges, virtual asset loans)."
The Bank of Lithuania issued its order after inspecting Transactive, which found "significant violations and deficiencies of the Law on Prevention of Money Laundering and Terrorist Financing." The order was issued based on "the scope and significance of the violations found" and will remain in effect until the bank issues a final decision at a later date.
There is a possibility that the client funds Transactive managed for Crypto.com are indeed "safe," but only because they were seized by Lithuanian authorities. While Crypto.com would be able to maintain its "all is well" facade in this case by fulfilling some customers' minor withdrawal requests, processing withdrawals for all affected customers would require either (a) a large cash injection to tide them over until Lithuania releases the seized funds, or (b) dipping into other customer deposits à la FTX to maintain the illusion of solvency to stave off a banking storm.
So I can't say that MuchBetter is facing the same problem as Crypto.com but it seems to be very similar.
Meaning it's possible MuchBetter will wave through some payouts to keep up appearances all is well, while the bulk will probably have to wait until the funds are released in Lithuania, if they are.
That means it's possible MuchBetter will wave through some disbursements to keep up appearances all is well, while the bulk will probably have to wait until the funds are released in Lithuania, when they will be.
But this is all just speculation!
yes as I said some wait a week and nothing happens
MuchBetter service interruption
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i wait 7days for Deposit to casino so i don't think so
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MuchBetter service interruption
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They lie like crooks
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MuchBetter service interruption
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yes as I said I'm already waiting 7 days and support already gives no more information, are anyway standard answers
This post has been translated automatically
MuchBetter service interruption
Nobody has liked this post so far
This post has been translated automatically
MuchBetter service interruption
Nobody has liked this post so far
This post has been translated automatically
MuchBetter service interruption
Nobody has liked this post so far
Like many here, I have been waiting for my money for over 1 week. The support assured that it would take up to 72 hours for crypto withdrawals. For bank withdrawals 3-5 business days. Both deadlines have now already been exceeded and since then no trace of the support.
I have filed a complaint with the BaFin.
This post has been translated automatically
MuchBetter service interruption
Nobody has liked this post so far
This post has been translated automatically
MuchBetter service interruption
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Really? With me Friday applied and nothing so far
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MuchBetter service interruption
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yes with me also ca
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MuchBetter service interruption
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Yes the support also does not answer me anymore. But I am curious about the result of BaFin. They will confront MuchBetter with the accusations and demand a statement.
This post has been translated automatically
MuchBetter service interruption
Nobody has liked this post so far
that will be nothing as it looks like mutchbetter will unfortunately be broke otherwise the service would still be available or do I see that wrong?
This post has been translated automatically
MuchBetter service interruption
Nobody has liked this post so far
A crackdown by the Lithuanian banking regulator has led to Crypto.com customers fearing for the safety of their account balances.
Earlier this month, the Bank of Lithuania ordered local payment processor Transactive Systems UAB to stop providing services to existing customers "whose activities are related to virtual currencies (including virtual currency exchange operators, virtual currency wallet operators, virtual asset exchanges, virtual asset loans)."
The Bank of Lithuania issued its order after inspecting Transactive, which found "significant violations and shortcomings of the Law on Prevention of Money Laundering and Terrorist Financing." The order was issued based on "the scope and significance of the violations found" and will remain in effect until the bank issues a final decision at a later date.
There is a possibility that the client funds Transactive managed for Crypto.com are indeed "safe," but only because they were seized by Lithuanian authorities. While Crypto.com would be able to maintain its "all is well" facade in this case by fulfilling some customers' minor withdrawal requests, processing withdrawals for all affected customers would require either (a) a large cash injection to tide them over until Lithuania releases the seized funds, or (b) dipping into other customer deposits à la FTX to maintain the illusion of solvency to stave off a banking storm.
So I can't say that MuchBetter is facing the same problem as Crypto.com but it seems to be very similar.
-Edit by Andre: font color adjusted-
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MuchBetter service interruption
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that is ?
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MuchBetter service interruption
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Meaning it's possible MuchBetter will wave through some payouts to keep up appearances all is well, while the bulk will probably have to wait until the funds are released in Lithuania, if they are.
But this is all just speculation!
This post has been translated automatically
MuchBetter service interruption
Nobody has liked this post so far
yes as I said some wait a week and nothing happens
This post has been translated automatically