Kilowatt (Dan Druff) says that a Lock insider revealed to him that Lock lost money in the Cyprus bank crisis (he says 2012 but I assume he means 2013): Shane, I'll make this as straightforward as possible (hoping for a response in the same spirit!): Was Lock affected in any way by the Cyprus banking crisis?

I heard the same thing Druff did. In fact I was told that they got wiped out pretty hard.

I hope this is not the case and if it is then I hope they find a way to start either paying players in a somewhat timely fashion or sell the network to someone who can

I can confirm that Lock has NEVER banked in Cyprus.

I also find it odd that Dan Druff is claiming to have a Lock Insider with information clearly this wrong.

How we can trust what you are saying.

Lock is not transparent. They are just feeding us BS.

Shane, 100% theoretically If lock/ Revolution/the network however u structured it between u and cake(or whatever % you own of it, rumor 40% to 100% to only selected assets) were to go under what would be the affect on players balances held on these different skins be? i.e. Juicy/Cake skin, intertops skin.
Could the lock "skin" go under and have it not affect the whole network?
This is 100% hypothetical of course

I will have news on these types of situations later today or tomorrow.

Please Respond shane im very interested in an answer, dont want this overlooked

13+ weeks for this w/u withdraw and the cashier department has stopped returning emails....

If they didn't lose it all in Cyprus, where did all the money go?

48hrs and the clock is ticking.

Shane not following through with a promise? No way!?


--
Kahn

im sure there double checking deposits I mean facts before a statement comes

Rather than post the same thing everywhere, here is my response to Shane in another thread that addresses all of the above:

http://forumserver.twoplustwo.com/sh...&postcount=418

By the way, Shane also said the following recently:

So conveniently their "legal department" (aka co-owner Bryce Geoffrey) decided that it's too much of a "risk" (LOL) to verify to the public that they actually have everyone's money.

You know... because the tiny chance that a highly respected auditing firm would leak their financial data is much more potentially damaging than the widespread belief that your company is broke.

Seriously, Shane, I know you're not dumb enough to believe the crap you write. I hope you at least go to sleep at night realizing you're a scumbag shill, and aren't under Sebok-like delusions that your job is to help poker players.

Nothing in that post has anything to do with Cyprus bank crisis other than your hearsay accusations. Provide the community with proof and we will listen.

I don't have any proof to provide. If I did, I would have posted it already.

This was told to me by an inside source. It's up to you what you want to believe.

However, I don't think you can legitimately make the case that Lock still has the player funds. Regardless of whether they lost it in Cyprus or just stole all the money, Lock is clearly insolvent. All of their recent actions make that very clear.

Cyprus does seem like a good choice for Lock -- criminals, tax evaders, and money launderers from around the world had flocked there because of the weak oversight. Their banking system was 5x the size of thier GDP. It's certainly not an unreasonable possibility.

OK fair enough. It has been somewhat common for posters to come into the Lock forum and make claims with proof, then just sit on it that info and brag about it. I don't know why they do that and I don't know you, but this is obviously not the situation for you and sorry for lumping you in with them in my head.

Cyprus speculation is apparently not correct.

So you dont have proof, you have an anonymous source (who doesn't actually have factual information) and to wrap it up weather or not your information was right or not isn't important, because Lock has no money. You make up your stories to fit your preconceived notion that are never actually correct. I look forward to revisiting these posts of yours in the coming months.

Did you just confirm that Lock has no money in this drivel.... looking forward to May promos!

When ROW funds take months to cash out via electronic wallets there are problems......


Stop making policies that hinder cashouts.....


Only reason we are now posting is to stop this ponzi....new people should know exactly what they are getting into...

Why row play here I can not fanthom

Me correcting your spelling here is about as relevant as your replies lately. You continue to avoid the ROW cashout topic. Just tell us why it takes 3 months for ROW players to receive a payout that should take 3 days max.

Based on his reporting history on a number of issues, I've found Druff to be a pretty good writer on these topics.

Whether or not his source is good or really knows anything is another matter. Good writers in the poker industry routinely use sources that may be close to situations, but their interpretation of things is not always accurate. I've seen sources close to situations on other networks, multiple sources, disagree. Without seeing hard evidence yourself, it's hard to peg which is correct at times.

I don't think Shane's role in this story is all that relevant. He said himself he hasn't even seen proof of any Girah lawsuit and I don't think he would be looking at bank accounts of Lock Poker with his own eyes. So his response is likely the company line (after all, he's the PR), and whether or not you bank in Cyprus, you probably respond that you don't or that you're solvent either way. So that's a non answer (no points against or for) in my opinion.

Conclusions

- If Dan believes his source is good, it's good that he's posted this in the community.

- Absent more specifics (is this a processor close to Lock? An employee? Someone else? Have players ever received a check or seen on a deposit history that their money was coming from or going to a Cyprus company?), I wouldn't trade Lock money any higher or lower based in this story. It's worth keeping an eye on, but it's not enough given all the actual info we have about Lock and Revolution, to factor in towards trading value/any solvency metric.

Those are my thoughts.

Others and I have pressed Shane repeatedly on why ROW cash-outs are delayed and he's clearly failed to give any logical response, usually giving vague hints that it's somehow related to the US situation (despite not one single example of any other site ever doing the same).

A more logical explanation imo is that fast ROW cash-outs provide an effective means for a US player to withdraw since he can transfer (or dump) his funds to a ROW player who can then cash-out quickly. Thus, when US cash-out times became extended, players started using this route. To stem the outflow of funds, Lock inhibits transfers and delays ROW cash-outs.

Ofc, this would all be unnecessary if the player cash was all available.

obviously this, and did idiot shane make the outrageous claim that Locks legal department has claimed that an auduit would be bad due to possible leakage of information by the audit firm ...

my god how stupid does he think people are, an auditing firm leaking such information would mean jail-time for its execs not to mention multi-million dollar lawsuits

i hope people get the sense that every word out of the idiot shane account is utter and complete BS