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Is Vault of Satoshi a scam?

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Yesterday I saw this thread on reddit about the Vault of Satoshi(www.vaultofsatoshi.com). I got excited about alternatives to Bitstamp and Coinbase and since I had the verification items (2 forms of ID, proof of address) ready from verifying my Bitstamp account, I figured I'd just sign up.

Things that I liked about VoS: * Trades BTC and LTC

  • Uses two-factor authentication to sign in

  • Slick interface.

  • Require you to send ID using PGP (if sending by email).

Things that concern me:

  • Very little outside information about VoS. There are some news articles but they all just copy the same press release and have little content.

  • The reddit thread has absolutely no content. The OP just gives gold to everyone who posts. So people make worthless posts just to get gold. No meaningful questions are asked or answered.

  • The order book doesn't seem to make sense to me. There are only two bids.

I transferred 0.2 BTC to VoS and looks like I've successfully withdrawn them (2 confirmations).

My concern is that VoS may be a very slick way to collect ID and information for ID fraud. What should I do if that's the case? They have my driver's license and other documents.

Perhaps, VoS is still new and working things out…

Original post: http://www.reddit.com/r/Bitcoin/comments/1ouk8z/is_vault_of_satoshi_a_scam/

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2 comments

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  1. Bobby

    Just before they verified my ID i recieved a scam email from a canadian bank. I live far away from there. That site has passed my email on i know that for fact.

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  2. Bobby

    Oh and yes im now concerned about my id being sent.

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