It appears the fluctuating bitcoin price is really taking its toll on related businesses. Recently CEX.io went so far as to halt its cloud mining operations. CoinTerra has ceased granting payments to customers due to growing debts, and now electronic payment processor EgoPay is joining the ranks as the latest bitcoin-delving company to bring its operations to a temporary halt.
Clients logged into the EgoPay site are allegedly receiving the following message:
“EgoPay Members will be experiencing higher than normal review times for all withdrawals and deposits as EgoPay is currently conducting a system migration. EgoPay will now be able to provide a more secure network for all members through which to complete their online transfers. EgoPay’s standard review time frames and service level agreements will return to normal and EgoPay appreciates your cooperation and understanding.”
Naturally, several customers have expressed dissatisfaction with the company’s delayed payment processing.
Furthermore, EgoPay has frozen the funds of several customers and bitcoin exchanges, including those of Lithuania-based exchange GOLDUX.com, and now allegations are flowing like raging water. A representative from GOLDUX is alleging that EgoPay experienced a massive hack in December, which has in turn affected the company’s merchant API.
Poland-based exchange BitMarket.pl is also claiming that EgoPay returned several faulty transaction notifications in late December.
Whether the allegations are true or not remain to be seen, but in the meantime, customers are waiting for transactions to commence and are waiting with bated breath for their funds to become available again.