Please read the last program's update about yesterday's loss (99%):
Over the past few months, Poker by Proxy has been having an amazing time. Profits were great, and our users were fun to correspond with. However, things have changed, and in the process have totally destroyed us. Today's loss is not a typo. While we haven't completely lost that amount, we have taken massive losses thanks to Paypal and a few other unforeseeable events. It is with great dismay that I post tonight's update. Below I have outlined the primary challenges that we are facing, along with the plan to move forward.
The main problem is that the payment processors seem to be run by thieves. Paypal has now managed to steal the vast majority of the funds that were deposited. Not only have they frozen accounts, they have billed our personal credit cards, bank accounts, and more. Paypal is one of the biggest scams I have ever seen, and somehow they manage to get away with it. To make matters worse, some idiotic investors have caused problems by starting disputes when their withdrawals weren't paid instantly. We are VERY clear about how withdrawals work, yet some of our members seem to be illiterate. That brings me to the next challenge we've been facing:
The vast majority of PBP users are friendly individuals, however there is a relatively large handful that seem hell bent on causing problems. These users have managed to freeze many of our accounts, reverse payments, threaten us when withdrawals aren't paid within an hour, and much more. Furthermore, these users post negative comments on forums and blogs and then demand ransom money in order to have them removed. It's unbelievable.
Moving forward we must make some major changes. First of all, we're removing Paypal all together. I also encourage anyone who uses Paypal to stop working with such a fraudulent company. The next step will be to get things back to normal as soon as possible. With the heavy burden of the frozen funds out of the way, profits will resume. In terms of making sure no one loses out, we've compiled a list of all of our users, along with their total deposits and withdrawals. A portion of each day's winnings will now been used to bring everyone back up into the green (most members are in profit already). Please note that there will be some rules when it comes to this.
1) Anyone who threatens us or anyone associated with Poker by Proxy will voluntarily forfeit any funds that they have deposited with Poker by Proxy. We are tired of the ridiculous threats. We have actually received threats of violence when a user's withdrawal took more than 2 hours. We have no interest in dealing with such idiots.
2) If you send any message requesting that your payment be expedited, your funds will be forfeited. Such messages simply waste everyone's time.
3) The recovery process covers deposits, not overall account balances.
4) Withdrawals will now be paid within 72 hours. If you complain, as many of you have when your withdrawal was processed within a few hours, your account will be forfeited.
Today's events are unfortunate, however with a bit of luck, we can get everything back to normal in the near future.
Quite a lot happening here over the past 24 hours as you all know. We have received more than 400 e-mails and internal messages since yesterday's update, and I'm sure that we have numerous more to come. Please be patient if you don't receive a reply right away. Today's result of 4.2% has been posted and all accounts have been updated.
As mentioned yesterday, we are embarking on a recovery process to ensure that no one loses out with Poker by Proxy. We have compiled a list of all accounts, along with their total deposits and withdrawals. We will be systemically going through the system clearing names from the list as we get to them. We have posted today's recovery results below. The following users have either been paid a refund or are already in profit.
We were quite clear yesterday that users who sent pointless threats would voluntarily forfeit their right to the refund/recovery process. The following users have done just that.
Anyway, lots more to come as we move forward towards a full recovery.