The moment many former Bitfloor users have been waiting for is finally here. After months of infrequent, information sparse communications from the Bitfloor exchange managment left users frustrated to say the least. Many doubted the money would ever be returned at all and a sub group of those with their funds in limbo tried without much success to launch a lawsuit against the company.
AudenX (A redditor who generously gave of his time and money to closely monitor and keep former users informed) sent out this afternoon the enthusiastic email everyone had been waiting for, notifying the community that the nail biting wait had come to an end when Bitfloor updated its website with the following information:
We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page.
If your account balance is over 3000 USD, you must first open an account withIAFCU and then provide your IAFCU account number.
This is a win for bitcoin in a lot of ways as it shows the strength and integrity of the growing community doing what is right and making sure they operate within the lines of the law.
Users with over $3000 owed to them must open a bank account with IAFCU which appears to be a less than 5 minute online application process requiring a scan of your ID. The bank plans on following up with the applicants for a "know your customer" data validation at the start of business Monday. If you want to make a donation to the non-profit IAFCU you can have your shot at a vanity account number as well.