e-gold Hacked Again

I posted some time ago about my dislike for e-gold because you have no recourse if your account is hacked. Well, the first time it happened, I specifically opened an e-gold account to keep most of my money in. I don't use this account anywhere else, and it's supposed to send out a pin request if your IP address is different from the previous time you logged on.

I've just checked this account, and someone still managed to break into it and empty it, this time to the tune of $18.85. More money gone with no recourse. As a payment processor, e-gold is totally useless and unsecure. DO NOT USE IT.

e-gold

e-gold is another Payment Processor and quite frankly I'm not keen on it. I'll only use it if I absolutely have to. The reason is quite simple; if your account is hacked by someone and the e-metal transferred out of it - which has happened to me twice - you have effectively no recourse. That money is gone for good.

When you report an invalid transaction, the receiving account has its' funds frozen, but you will never get them back. All e-gold payments are final, and the company will not disclose any of the recipients details with a court order or subpoena. So, unless the amount lost justifies the legal expenses involved in that, and the subsequent cost of an action against the person who stole your money, who probably lives in another jurisdiction, kiss the money good bye. Okay, I only lost about $7 in total, but most other processors provide more security for you.