Copy link
Increase text size
Decrease text size
Link copied

Bitcoin miner Compass transfers funds to crypto-friendly bank Signature after Chase froze its accounts

The accounts contained around 7 percent of the Bitcoin mining firm’s cash.

Image by: Wikimedia Commons

Sun, 22 Aug 2021, 12:49 pm UTC

Bitcoin mining company Compass has decided to switch banks after Chase froze its accounts. The bank reportedly did not inform the crypto mining firm before it shut down the latter’s accounts.

Earlier this week, Chase reportedly closed down the Bitcoin mining company’s accounts for yet unspecified reasons, according to Coindesk. The accounts contained around 7 percent of the company’s cash.

According to Compass CEO Whit Gibbs, they were only made aware of Chase’s action after the company’s COO, Jameson Nunney, visited the bank’s Ohio branch to make a transaction. Nunney was informed by a Chase employee that the firm’s accounts were frozen the day before and that the bank will hold the money until August 27.

Gibbs took to social media on Wednesday to express his displeasure. “Shoutout to Chase for shutting down Compass Mining accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money,” the CEO wrote on Twitter.. “Get behind Bitcoin or get out of our way.”

While the amount held by Chase is around 7 percent of the company’s cash, Gibbs went on to assure clients that the bank’s move won’t affect the company’s daily operations. “Fortunately, the company doesn’t entrust its finances solely in one institution, so business operations move on as usual,” he added.

But Gibbs still criticized the bank for not notifying his firm. “They shut down our business account without warning or notice,” he said. “We found out when one of us went into the back to send a wire to a vendor. It's just bad business. But this is why we bitcoin.”

According to Gibbs, Compass Mining was able to retrieve the funds previously frozen by Chase. The company has transferred its money to the crypto-friendly bank Signature, Coindesk reported.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Robby
  • 2021.11.10 09:48:25
Please be careful of investment platforms promising you a good return on your investment. Some scammers are already luring people to participate in a Fake Binance promo, lets be careful out there. If you are already a victim of crypto scam then pay attention to this.

First of all, there is no shame in being the victim of one of these sophisticated and predatory operations. By coming forward you may be able to recover some or all of your lost funds and prevent the scammers from targeting others. Secondly you can contact CryptoMundia @ Yahoocom, he his a Recovery consultant, his recovery team have an excellent track record in holding scammers to account including having assets frozen, even where companies have been set up using fake information. Their approach is based on close collaboration with forensic accountant, Specialists and other experts, prosecution agencies (both domestic and international) to trace and recover stolen assets.

Don’t let scammers get away with your hard earned money, look for possible ways to recover your stolen funds. I was once a victim but thanks to CryptoMundia and his wonderful recovery team, they are my guiding Angels
  • 0
  • ·
  • 0
  • Robby
  • 2021.11.10 09:48:15
Please be careful of investment platforms promising you a good return on your investment. Some scammers are already luring people to participate in a Fake Binance promo, lets be careful out there. If you are already a victim of crypto scam then pay attention to this.

First of all, there is no shame in being the victim of one of these sophisticated and predatory operations. By coming forward you may be able to recover some or all of your lost funds and prevent the scammers from targeting others. Secondly you can contact CryptoMundia @ Yahoocom, he his a Recovery consultant, his recovery team have an excellent track record in holding scammers to account including having assets frozen, even where companies have been set up using fake information. Their approach is based on close collaboration with forensic accountant, Specialists and other experts, prosecution agencies (both domestic and international) to trace and recover stolen assets.

Don’t let scammers get away with your hard earned money, look for possible ways to recover your stolen funds. I was once a victim but thanks to CryptoMundia and his wonderful recovery team, they are my guiding Angels
  • 0
  • ·
  • 0
  • Clauder
  • 2021.11.10 09:47:32
Loosing ones Crypto currency can be a devastating thing to experience, the fact that it is almost impossible to recover a Stolen or lost Crypto coin hurt more than anything. When a person get scammed of their money while investing in a crypto currency platform the only thing they can think of is how to report the company and get back their money.

Most victims of the scam contact their wallet account provider, their bank or the law enforcement, a few end up hiring a lawyer to sue the company but after all these stress they still cant get their money back.

Please everyone should be careful where they invest their money. Cryptocurrency has made many rich and at the same time made so many broke and desperate. Let me share my Crypto experience. Although I have been hearing about dogecoin since last year but I didn't pay much attention because I was satisfied trading only my bitcoin until one of my friends showed me how much he already made investing in dogecoin. I was convinced and I decided to do more research and finally I invested several amount of money in a website I was referred to by my Friends. I signed up and I was sent a wallet address to make the payment. I purchased 3500000 dogecoin and I transferred 3000000 to their wallet address. Few days later their website was down and we discovered we have been scammed. Every effort to get back our dogecoin failed until few weeks ago when I was referred to CryptoMundia and I was able to get back all my dogecoin that was Stolen through their services. They won't ask you to pay upfront for their services. If you want to recover your cryptocurrency that was stolen or lost I recommend you can search them on Google they are reliable and trustworthy. You can also contact them via CryptooMundia @ yahhoocom . I wish you all the best .
  • 0
  • ·
  • 0
  • Clauder
  • 2021.11.10 09:47:29
Loosing ones Crypto currency can be a devastating thing to experience, the fact that it is almost impossible to recover a Stolen or lost Crypto coin hurt more than anything. When a person get scammed of their money while investing in a crypto currency platform the only thing they can think of is how to report the company and get back their money.

Most victims of the scam contact their wallet account provider, their bank or the law enforcement, a few end up hiring a lawyer to sue the company but after all these stress they still cant get their money back.

Please everyone should be careful where they invest their money. Cryptocurrency has made many rich and at the same time made so many broke and desperate. Let me share my Crypto experience. Although I have been hearing about dogecoin since last year but I didn't pay much attention because I was satisfied trading only my bitcoin until one of my friends showed me how much he already made investing in dogecoin. I was convinced and I decided to do more research and finally I invested several amount of money in a website I was referred to by my Friends. I signed up and I was sent a wallet address to make the payment. I purchased 3500000 dogecoin and I transferred 3000000 to their wallet address. Few days later their website was down and we discovered we have been scammed. Every effort to get back our dogecoin failed until few weeks ago when I was referred to CryptoMundia and I was able to get back all my dogecoin that was Stolen through their services. They won't ask you to pay upfront for their services. If you want to recover your cryptocurrency that was stolen or lost I recommend you can search them on Google they are reliable and trustworthy. You can also contact them via CryptoMundia @ yahhoocom . I wish you all the best .
  • 0
  • ·
  • 0
  • delapaz
  • 2021.10.28 23:47:54
How to recover Cryptocurrency ; Recovery from crypto wallet hackers,Binary Option & fake investments e.t.c Have you ever been a victim of a scam? Have you lost your money to scam imposters online? I implore you to
contact this trustworthy hacker and recovery expert [email protected] TO HELP RECOVER ALL YOU HAVE LOST, I was a victim of fake people posing as binary options and bitcoin investors, I lost a sum of $4,000 and 2BTC from my bitcoin wallet to these fakes. It took a while before I realised they were scams and this really hurt . Then My in-law heard about the incident and recommended to me a specialist with the address - [email protected] . COM

This recovery technician helped me recover my stolen bitcoins after providing necessary informations and program requirements and in less than 72hrs the fakes were caught and made to pay for what they did to me .if you have lost any amount to online scams and you're seeking to recover LOST FUNDS from wallet hackers, fake hackers, online dating scams, BTC wallet hack, recovery of lost funds from fake binary investors .Reach out to
Quadhacked to help you ,and you will be so glad you did so, best believe
  • 1
  • ·
  • 0
  • Moses
  • 2021.09.27 23:41:40
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $340,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on [email protected]
Note it’s always better to learn on how to trade yourself than let another take advantage of your hard earned money and keep on promising you its better you just inbox to learn I don’t help anyone in trading thnk you and God bless you.
  • 0
  • ·
  • 0
  • Marronk
  • 2021.09.06 16:05:30
ClimaxRecovery.com is helping bitcoin scam victims recover scammed cryptocurrencies from scammers. Find out how;
An Australian invested a sum of $ 203,800 in cryptocurrencies. Thinking that you had increased your initial investment from $ 203,800 to $ 391,650. This felt so good as the investment grew rapidly in just a few weeks. When it was time to retire and his withdrawal request was denied, he realized that he would never get his money back.

Richard Harding discovered that he had been the victim of an aggressive cryptocurrency scam that cost him thousands of dollars. He realized that it might even have cost him more if he had to find out sooner and stop.

ClimaxRecovery.com it is a financial regulator and fund recovery body. They warn that these types of scams involving bitcoins and other cryptocurrencies or fake merchants are becoming more and more common and the victims come from different parts of the world.

How to get back scammed Bitcoin from Scammer
ClimaxRecovery.com is helping scam victims to recover stolen bitcoins and other cryptocurrencies from the scammer. Mr. Harding shares his experience as well as the best bitcoin recovery process from a scammer. He hopes that others are not victims of the same or similar schemes.

4 steps to recover scammed Bitcoin and stolen cryptocurrency from the scammer
Mr. Harding shares his experience and advice on the steps he took to get his scammed bitcoin back from the scammer below;

Visit www.climaxrecovery.com
Fill out the online trading claim form and provide all the required information
Provide as much information as possible about the date and time of the transaction or theft.
Provide the transaction ID, if you have it
The best way to recover scammed Bitcoin or stolen cryptocurrency

When it comes to recovering scammed, stolen, or lost cryptocurrencies, there are several possible options to explore. The three most popular methods include;

File a report with ClimaxRecovery.com:
The most guaranteed way to recover scammed bitcoins. Recover Lost or Stolen Cryptocurrencies by Reporting with ClimaxRecovery.com! However, due to the volume of requests they receive on a daily basis, the CEO of the company said that he only handles cases involving losses of more than $ 50,000 (USD). ClimaxRecovery.com, however, has the highest success rate of around 94% in the fund recovery industry.

Hiring an expert in fund recovery:
The second option to consider when it comes to recovering scammed bitcoins, lost or stolen cryptocurrencies is to hire a fund recovery expert. But when trying to hire a fund recovery expert, you need to make sure that the company you are hiring has all the experience and credibility necessary to successfully recover your lost funds. There are some fund recovery companies, but only a few like Climax Recovery it is highly recommended.

Request a chargeback by informing your wallet provider:
The third option when it comes to recovering stolen bitcoins. Recovery of stolen cryptocurrencies or lost funds from a cryptocurrency investment company. In addition to the investment scam in general, it is taking an actionable intelligence scam company by informing your cryptocurrency wallet provider and requesting a chargeback.

The services offered by the broker complaint alert include

The best bitcoin recovery service
Recover scammed bitcoins
Bitcoin Recovery Expert South Africa
How to recover scammed bitcoins
Recover scammed bitcoins in the UK
Bitcoin Recovery Expert UK
Get back bitcoin Australia scammed
Bitcoin recovery from a scammer
How to recover stolen cryptocurrencies
Hire a scammed bitcoin recovery expert
Who can help with the recovery of my stolen bitcoin?
The best bitcoin recovery expert to recover scammed bitcoins
I got scammed bitcoin
Why Broker Complaint Alert Is The Best Bitcoin Cryptocurrency Scam Recovery
Wondering why BrokerComplaintAlert.com is the best bitcoin and cryptocurrency scam recovery solution? In addition to being the most successful fund recovery service provider in the industry (with a 94% success rate), it also offers the best customer service experience for its clients.

They employ several innovative methods to track third party transactions using highly specialized investigative procedures. This is done in collaboration with the relevant financial regulator, law enforcement, and blockchain forensic experts to carry out a detailed assessment of cryptocurrency investment firms, decrypting their database of information.

2 guaranteed ways to get back scammed Bitcoin
By following the 2 steps below, you can be sure that you will get back your scammed bitcoin, as well as the stolen or lost cryptocurrency:

ClimaxRecovery.com offers a solution that not only ensures that victims of cryptocurrency scams get back stolen funds, but also guides cryptocurrency investors to ensure that they never lose money again. Besides this, you can also report cases of hacked bitcoin / cryptocurrency wallet, lost bitcoin password recovery or recovery phrase. ClimaxRecovery.com only accepts cases involving more than $ 50,000.

Hire a recovery expert like Atrium Forensics to reverse a failed or incorrect bitcoin transaction. Recover digital assets lost to bitcoin and cryptocurrency investment scams. Fake social media promoted the gift scam, as well as the loss of bitcoins or cryptocurrencies by other means. You can also report binary options, forex scams as well as bitcoin scams or crypto theft.

3 easy steps to recover scammed Bitcoin and lost cryptocurrency
Visit ClimaxRecovery or send an email to [email protected]
Provide all the necessary information
The recovery process begins and your recovered crypto is returned to you upon completion

Website: Climaxrecovery.com

Mail: [email protected]
https://www.youtube.com/watch?v=pBWvu2iliZw
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $48,939.00 (-1.29%)
  • Ethereum (eth) $4,158.51 (+0.80%)
  • Binance Coin (bnb) $554.52 (-2.59%)
  • Tether (usdt) $1.00 (0.00%)
  • Solana (sol) $190.97 (-8.50%)
  • Bitcoin (btc) $48,939.00 (-1.29%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft