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ECT News Community   »   E-Commerce Times Talkback   »   Re: Internet Currency Site Flooz Suspends Operations



Re: Internet Currency Site Flooz Suspends Operations
Posted by: Lori Enos 2001-08-10 12:28:12
See Full Story

Internet message boards have been humming with speculation over the past few days that
online currency company Flooz.com is going out of business. As of Friday, Flooz itself had
left no clear signal of its status and has made itself unavailable for response to any
inquiry.


The company took its Web site offline Wednesday and posted a message reading: "We are
currently unable to process your transaction. Check back for further updates. We apologize
for this inconvenience."


Re: Internet Currency Site Flooz Suspends Operations
Posted by: Aimee 2001-08-15 19:42:21 In reply to: Lori Enos
I am burning mad! My best friend gave me Flooz for my bithday and now I cannot spend it! I sent an e-mail with no response! They have stolen my friend's money, what am I to do? I do not want to tell her for fear she will send me another gift and she cannot afford to do that!! What recourse do I have? Isn't it illegal to take her money like that? Help!

Re: Internet Currency Site Flooz Suspends Operations
Posted by: cathie 2002-08-28 20:13:25 In reply to: Aimee
I had $ in my account. My address has changed. Is there a way to figure out what they owe me? Is anybody in charge of this? How do I file a complaint? Thanks for any information.

Re: Internet Currency Site Flooz Suspends Operations
Posted by: doomz 2002-10-03 16:26:57 In reply to: cathie
for one flooz was a weak service to begin with.. but one good thing came out of that lame service... free stuff.. i hit them so hard they went bankrupt.. LMFAO

Re: Internet Currency Site Flooz Suspends Operations
Posted by: fish123321 2002-05-28 10:10:27 In reply to: Aimee
you people are all stupid
i've had flooz for over a year and have spent
they went out of biz cuz some people hacked into the system and "bought" over $300,000 worth of merchandise without any money
can your business stay afloat with that kind of hit??

Re: Internet Currency Site Flooz Suspends Operations
Posted by: ravyn007 2002-08-10 00:36:51 In reply to: fish123321
Flooz did NOT go out of business because someone hacked into their system. There are no public statements or news releases to varify this. Flooz.com went out of business because they had a poor business model, mismanagement and they simply ran out of resources, venture capitalists who were interested in contributing money and money in general. Duh!!! That's why all these .com's go out of business. Flooz was NEVER hacked. They were just poorly managed. For the record, and I don't necessarily agree with this, the law states that a company has no obligation to pay debts of any kind after they file Chapter 11. They do not have to refund money on any level. There are lawsuits that are still in the courts today, and none of the money that was given to Flooz in good faith by customers and investors has been returned. This is the nature of a capitalist society. Companies have more rights than the general public. In rare cases you are entitled to refunds, and contacting your credit card company or bank is a good place to start. You can dispute a charge up to one year after the incident.

Re: Internet Currency Site Flooz Suspends Operations
Posted by: dr 2001-08-18 18:56:28 In reply to: Aimee
Hi Aimiee: I know exactly what you mean. A dear friend gave me a flooz for christmas. I really don't want to tell him either. He is mad at me right now, and really don't want to tell him, but I feel I should because they stole the money from him. As someone else said "internet fraud". The only thing that I can say is I was so surprised about the Christmas gift, that was enough for me. It was the thought that counts. I was waiting to use it for something special. I guess I waited to long. DR

Re: Internet Currency Site Flooz Suspends Operations
Posted by: ali 2001-08-17 00:50:39 In reply to: Aimee
I was one of the many people who were burned by this untimely shut down. I had bought 2 birthday cards on July 26th with Flooz attached and only 1 was able to be accessed (but not spent) before the shut down. I was advised to dispute my credit card charges, but unfortunately I paid with my debit card. The charges came directly out of my checking account and, as far as I know, I have no legal recourse. If anyone finds out what I can do to get my money back, please let me know.
Thanks,
Ali Ackerman

Re: Internet Currency Site Flooz Suspends Operations
Posted by: Wendy 2001-08-17 10:12:12 In reply to: ali
I had the same problem here. I actually sent the flooz the same day they shut down. My friend didn't even receive an email, but I was immediately charged on my card. Anyone know how I can get my money back?

Re: Internet Currency Site Flooz Suspends Operations
Posted by: Roy Smith 2001-08-18 05:33:29 In reply to: Wendy
Dunno if this helps much, but in Europe schemes such as Flooz are illegal. They constitute a "Deposit Taking Business" and can only be operated by registered and regulated banks.

If they can be seen to be trading in Europe, they could be prosecuted through a local court.


Re: Internet Currency Site Flooz Suspends Operations
Posted by: Dana 2001-08-16 11:31:37 In reply to: Aimee
I agree with you, Aimee. I purchased an engagement present from flooz. Even though I told her she better use it just in case the web site went out of business, they did not use the gift. I have also sent an email to flooz with no response. This seems to be a form of embezzlement. Flooz did not give their customers any warning of them shutting down the site-no opportunity of using the gift. This is such bad business and in return, damming the future of internet business for those who trusted online shopping and business.

Re: Internet Currency Site Flooz Suspends Operations
Posted by: Boston Ted 2001-08-16 14:56:29 In reply to: Dana
While I agree that Flooz is behaving poorly, I do not agree with your saying that this will affect people's trust in online shopping.

There is no difference between poor customer service offline or online.

People will keep using the net. If they don't like the service in one place, they will simply move to another.


Re: Internet Currency Site Flooz Suspends Operations
Posted by: Tim Aster 2001-08-15 11:35:48 In reply to: Lori Enos
I'm glad I heeded the warnings on DealHunting.com before Flooz went away. I'd read on the DH forums that Outpost had dropped them, and took that as a warning sign that they were teetering on collapse, and used up my Flooz about 2 days before they pulled the plug.
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