The Great Robocoin Rip-Off

October 15, 2014 10:47 UTC

In December Andrew Wilkinson, founder of MetaLab, and his friend Rajiv, founder of Sparklit, started getting excited about BitCoin. They both have full-time jobs running their companies, but they think Bitcoin is super cool, so when they heard about the Robocoin Bitcoin ATM they bought one for their hometown, Victoria, Canada. They figured it would be a fun little side project and a good way to help move Bitcoin forward.

10 months and $25,000 later, they think were we wrong.

Also read: Robocoin’s Sam Glaser Addresses Concerns About Robocoin ATMs

In December they wired Robocoin $20,000 for the ATM, with an expected delivery date in early March, and secured a lease to put the ATM in a local pub starting in March, at a cost of $250/month.

The ATM arrived in June, but it didn’t work. They returned it to the factory and claimed a solution or refund. They were informed that the ATM “was apparently returned with a lot of damages.” Strangely, the shipment was insured, and no damages were reported on the waybill that his team signed.

10 months later, the two friends have received no refund or further communications from Robocoin. So far they have spent $20,000 for the kiosk, 6 months of rent at $250/mo: $1,500, $4,000 for shipping both ways. Total cost so far: $25,500. The two friends are prepared to take legal action, but first they posted a story to Reddit to give Robocoin a taste of internet justice first.

What do you think? Comment below!

Images from Robocoin.

Last modified: October 15, 2014 15:05 UTC

Posted in: Bitcoin ScamsNews
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