Deposit and withdrawal methods: MuchBetter service interruption (Page 19)

campamocha wrote on 02/16/2023 at 16:04 PM:

And does this really work? Deposits from MB to the casino? And recharge?

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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

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NuggetKing wrote on 16.02.2023 at 15:03: Friday 16 clock and 21 clock and payment to the bank account yesterday 14 clock

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Gigi55 wrote on 02/16/2023 at 5:47 pm:

Really? With me Friday applied and nothing so far

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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

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Julien0520 wrote on 02/16/2023 at 17:56:

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.

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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.



-Edit from Andre: font color adjusted-

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NuggetKing wrote on 02/16/2023 at 6:12 pm:

that is ?

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Julien0520 wrote on 02/16/2023 at 18:18 PM:

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!

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