Quote from my trading sux:
StormPay suspended my account too after my chargebacks too. I haven't been following the controversy. What exactly happened? And what did this Girsky guy do?
in a nutshell, it basically went like this..
12daily Pro was using e-gold and StormPay successfully for several months. StormPay was safe, but e-gold, for the most part, wasn't. being that they allowed their users to open, and fund accounts with absolutely no identification whatsoever, it became the processor of choice for child pornographers, money-launderers, and other nefarious ne'er-do-well geek hackers.
what these hackers started doing was they'd set up anonymous e-gold accounts, and dispatch keyloggers and other phishing progs into non-savvy computer user's systems.. allowing them to fish out their login info and passkey phrases. then, using that information, they'd log into the e-gold account, scrub them clean of the money, and send it over to THEIR anonymous account.
or, what they'd do is, an ex-admin from a defunct surf, who kept his password file, would load that file into Access Diver, and brute force his way into other surfs in which the non-savvy user used the same login email and password that they did for their GCI-Surf account. while negotiating his way around the 12daily account, he'd change the e-gold account to his anonymous, phony account, and re-routes the payments.
the surfer, who was getting screwed out of the money, would start bombing 12daily's admin and staff with tickets.. even though it wasn't her fault in EITHER CASE. she'd have to waste her time dealing with those victims, and refunding those monies, when her time could be spent more efficiently doing other things.
hackers used to operate in the stealth of e-gold's anonymity. StormPay and PayPal require too much personal, trackable information about their users. that's why it's the criminals favorite processor. the FBI eventually raided e-gold's offices, and 12daily dumped them.
then they began using EMO.. and this is where this whole apocalypse started. EMO has no fees. two EMO users can transfer money to each other for free.. so almost all of the old e-gold users, and a lot of the current StormPay users defected to EMO. the StormPay exodus was so large, that 12daily didn't have enough money in their EMO account to satisfy the payments.
Charis, 12daily's admin, then put in a request to withdraw $10 million from her StormPay account to transfer over to EMO to make the payments. First StormPay stalled, then they said they could give her half, then they sent her a check in her own name for $10 million knowing that she couldn't cash it unless it was in her business name. Then they said they would wire her $5 million if she promised to tear up the check for $10MM. after she pretended to tear the check, they demanded that 12daily dump EMO. They wanted to be 12daily's exclusive processor.
StormPay then sent blackmail emails to every surf admin demanding that they use StormPay and only StormPay so that they could monopolize the millions and millions in profits. Being that StormPay was the largest, they all acquiesced and transferred their monies over to StormPay. then StormPay balked again, and in the oiliest, most viscous, most unctuous, most reptilian, slimeball move of the millennium, froze every surf admin's account stating that autosurfing was wrong, and they no longer wanted to be in the business. A DAY after they tried to corner the processor market, and got as much of the admins money into their account, then froze them out, and shut down the industry.
Steve Girsky, the CEO and co-owner made MILLIONS of dollars running straight ponzi's in the early 2000's.. then made millions more in withdrawal fees off of the autosurfs running the largest pay processor. they saw an opportunity for one final cash grab and froze over $50MM of 12daily's money, $7MM of Alien Trust's money, and locked Charis and Vince out of their accounts permanently. Then, they froze customer accounts and scrubbed them CLEAN.. in an effort to reverse the profits everyone's been making since 12daily began.. to "protect the victims". They DIDN'T, however, reverse the millions in fees they've collected. Who knows how many millions more they're skimming now that everyone's locked out of their accounts.
then, if that wasn't bad enough, they called the FBI, SEC, and BBB to initiate investigations against the industry AFTER they already pimped their millions out if it. they're trying to keep as much of the money as they can.. which is probably in the neighborhood of $100MM.
Some people had $40 to $50 thousand in their accounts, and Girsky took all of it. people are ready to kill him. He said there's not enough to repay everyone, so those people might not get a dime back. I swept my account after every payment, so he didn't get a dime from me. VISA, who's been flooded with chargeback requests, is honoring all of them because they're aware of what StormPay did. StormPay is suspending everyone who does a chargeback, but at the point, who cares. they have over 20,000 complaints with the BBB so they're done anyway.
It's just a mess right now, but my e-gold surfs are still going strong and paying. the guy who's running autosurfmonitor started his own processor, so the industry will be back up and running soon.
