Canadian Bitcoin Exchange Announces Closure, Triggering Questions

NEW YORK (InsideBitcoins) – Vault of Satoshi, an Ontario, Canada-based bitcoin exchange, announced last week that they will be closing their doors by Feb. 5, 2015 in order to work on other business ventures. However, questions quickly arose from the community about how Vault of Satoshi would handle the personal customer information they’ve collected.
For days, the company remained silent on the matter. Among the collected information is photographic evidence of identification, along with secondary photo identification, name, as well as the date and county of birth. Vault of Satoshi also collected proof of residency for people wanting to buy and sell higher amounts of bitcoin.
Repeated attempts by Inside Bitcoins to gain a response from company founders were unsuccessful.
A delayed response
Finally, late Friday the company issued a statement:
‘After reviewing questions, comments and receiving many emails from concerned customers, we realized that we didn’t actually tell anyone what would happen to all of your information upon the closure of the company,’ Vault of Satoshi said. ‘We apologize for the lack of information and any concern it has caused.’

This post was published at Inside Bitcoins on Jan 12, 2015.

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