Disturbing story, and I think I believe it.

https://forumserver.twoplustwo.com/2...loyee-1687276/

A guy made a new account on 2+2 named "ignitionBitcoin" and claimed his $9500 cashout simply vanished. When he checked into it, he found that the cashout WAS processed, but to a completely different bitcoin address (not his) than he had submitted!

Further investigation into the matter showed that the bitcoin address where it did go was cleared out immediately after the bitcoin was received -- by a series of very small transactions.

Ignition verified that there was never a cancellation of his original withdrawal. So there was not a situation of someone hacking his Ignition account, cancelling it, and withdrawing to their own BTC address.

Furthermore, he checked his blockchain.info account, and the address where it was sent was not close to any BTC addresses he had ever generated.

It is almost certain that, if this story is to be believed, either the payment processor or a rogue Ignition employee changed the BTC address where the money was supposed to go.

Ignition will not re-send the $9500, insisting that their system shows he submitted the same address that the processor paid. This would lead one to believe that it's more likely a rogue employee than the processor, but it also might mean that Ignition simply doesn't want to admit that their processor is doing this.

I was a bit skeptical that a dupe/fake account was reporting this, despite claiming to be a regular mid-stakes player, but then others showed up and echoed that they were either victims of this, or had close friends who were. You can read the above thread (it's not very long) for more info.

Now I'm scared to make any withdrawal in BTC on Ignition/Bovada, and you should be, too.

When you make these withdrawals, you do NOT get any confirmation -- either on screen or by e-mail -- stating which address the cashout will be sent. That's a huge flaw.

One idea I had was to do it by phone. Bovada/Ignition records all of their calls, and presumably you could pressure them to check the call (and even record it yourself on your end) if they pull the switcheroo on the address. You could also ask at the end of the call for them to e-mail you a more detailed confirmation (not sure if they would be willing). But I think that's what I might try.