EWX Per Alledged Web Reports, Shut/Seized By US Gov.

[vinylweatherman]

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Edited to show what stood out besides the normal stuff. I tried to contact the only thing I saw (me@mcmike.nl) where they got that info, but it bounced back.

Dec. 3

Well, if you’re a USA online gambler who used EwalletXpress, you can no longer use this e-wallet to gamble online. Customers with funds in their account should get their money back soon. The authorities are now meticulously auditing EwalletXpress’s finances, and will claim any and all available funds for customers that used this processing option. This applies for both casino and sportsbook customers, since EwalletXpress offered its services to many different types of online gaming sites. When all is said and done, the only parties left holding the bag will be websites who have now lost thousands, if not millions, in player deposits.

This might be why they are saying nothing about it. They either hope to get the money back, or are afraid to admit such large losses in case players feel this has driven them close to the edge.


This statement doesn't look like a seizue, more of a "winding up order" after a company has been found with "it's fingers in the till", and the money has been frozen not by the DoJ, but by the CANADIAN authorities, perhaps with a view to press CRIMINAL charges. This looks more like an attempt was made to embezzle the funds, and it got busted by the authorities, who are now trying to trace the money to return it to customers. The latter part suggests that "consumers (players)" come first in any distribution, before "merchants (casinos)" get theirs. It is probably going to be Canadians before Americans too.

Remember, this is a CANADIAN company with CANADIAN customers, and is not JUST used for online gambling. There may be Canadian customers who only used the wallet for shopping without having to hand card details directly to the merchant, the same way Neteller bills it's Net+ card as being "more secure" than using your credit card directly.

It may be that they were found to have issued more eMoney than they could back with REAL money.

If this is a CRIMINAL investigation, rather than a "Federal seizue", it would explain the lack of information from "official" sources.

 

[all4greed]

If this is a CRIMINAL investigation, rather than a "Federal seizue", it would explain the lack of information from "official" sources.

Very well could be. So the question is, how does one find out if it's a criminal investigation?

 

[vinylweatherman]

Very well could be. So the question is, how does one find out if it's a criminal investigation?

One doesn't, until either a case goes to court, or the investigation is closed. Even if no charges are brought, EWX may well be wound up, at which time it's creditors will be notified of who is dealing with the distribution of available assets.

The DoJ never said anything about them INVESTIGATING Neteller until the arrest of the two former company execs, at which time an announcement was made. This is to stop the destruction of evidence.

It seems SOME people have been told that it WAS a federal seizure, but since when does the USA seize money from a CANADIAN company in complete secrecy. With an active Canadian customer base, EWX would keep it's funds mostly in Canada, surely, and only move what was strictly necessary into US jurisdiction, since they KNEW there was always a risk that the DoJ could pounce, and freeze funds in US banks.

We'll just have to see what the passage of time reveals, and see who was right, and who was wrong. More importantly, who LIED and screwed PLAYERS just to save their own skins - after all, SOME players managed to place funds into EWX because they "bought" the "technical issues" explanation. Had players known that this was a shutdown, and funds would effectively be unavailable, players would NOT have risked moving them to EWX. They would probably have left them in the casino, or their own banks.

Maybe the balances players had in casinos were NOT actually received by the casinos from EWX, so by allowing players to withdraw back to EWX they minimised their own exposure. If the money remained with the casinos, players would expect these casinos to be responsible for the safe keeping, and eventual payment of the funds.

Now, with the funds in EWX, it's "not our problem" according to the casinos. There are even some casinos claiming the funds have "already gone to EWX", but when players check their EWX account, they have not reflected. This is STILL causing those casinos to deny responsibilty for these "in limbo" amounts, even though they clearly never made it all the way to EWX before things were shut down.

 

[felicie]

This might be why they are saying nothing about it. They either hope to get the money back, or are afraid to admit such large losses in case players feel this has driven them close to the edge.


This statement doesn't look like a seizue, more of a "winding up order" after a company has been found with "it's fingers in the till", and the money has been frozen not by the DoJ, but by the CANADIAN authorities, perhaps with a view to press CRIMINAL charges. This looks more like an attempt was made to embezzle the funds, and it got busted by the authorities, who are now trying to trace the money to return it to customers. The latter part suggests that "consumers (players)" come first in any distribution, before "merchants (casinos)" get theirs. It is probably going to be Canadians before Americans too.

Remember, this is a CANADIAN company with CANADIAN customers, and is not JUST used for online gambling. There may be Canadian customers who only used the wallet for shopping without having to hand card details directly to the merchant, the same way Neteller bills it's Net+ card as being "more secure" than using your credit card directly.

It may be that they were found to have issued more eMoney than they could back with REAL money.

If this is a CRIMINAL investigation, rather than a "Federal seizue", it would explain the lack of information from "official" sources.

That went thru my mind too but would it be such a big secret? what do they have a gag order? I think it really sucks for lack of a better word that the casinos probably know what's up and wont inform at least players that actively used EWX at that time.

 

[vinylweatherman]

That went thru my mind too but would it be such a big secret? what do they have a gag order? I think it really sucks for lack of a better word that the casinos probably know what's up and wont inform at least players that actively used EWX at that time.

This would only apply to EWX, since the casinos are not in either a Canadian or American jurisdiction. The email EWX supposedly sent to operators would be a breach of any gagging order in any case.

It looks like there is more to this than a straight forward federal seizure, even if this is the story being told to operators.

 

[Rebel2k5]

Wow, I guess I should follow news like this more often.

I hated EWX with a passion. They closed my account because after an issue with them, I said "You guys suck at customer service", they banned my account haha.

A year later I figured I could make another one, they closed that one too.

All because I said they suck at customer service. Which in my original situation, they did. So oh well, they can burn to the ground.

 

[all4greed]

So oh well, they can burn to the ground.

Yep, after they pay out those that are owed.

 

[all4greed]

Well here we go.

 

[felicie]

WTG all4greed! Was that off their website then?

 

[all4greed]

After you login, the message is there. But yet it still says technical difficulties on the account page.

 

[chris995]

Thanks for the update all4greed.