Where is butterfly labs located

FTC employees launched an investigation at the end of Their verdict was that "consumers who have purchased the machines or services from Butterfly Labs and have not received their orders". BFL has long treated clients with promises, and then finally went offline.

But here they come back! Their plans have been updated on the company's website: "We are more than ever ready to serve you, our customers. In the future, we will provide good suggestions. However, after three months of closure and strictly limited operations, we must assess the state of all aspects of our business.

We ask that You be patient as we need time to restart our operations. You can also apply for a refund. Requests will be processed as received. The company expects the first payments to start in late January or February. Butterfly Labs promised their customers that preorders would ship as soon as possible. But they soon became evasive, issuing a series of shifting dates. Instead, by most accounts, the first shipments started trickling out in April. While some customers received their ASICs — Wired magazine got one — many more started complaining about delayed shipments.

Some wondered if the products really existed. Others suspected Butterfly Labs had decided to use the machines to mine bitcoins for themselves. Some forum users claimed to have received their orders; others accused them of being paid by Butterfly Labs.

It came out that one of the company's alleged cofounders was on probation after pleading guilty to mail fraud in a lottery scam.

Soon, Butterfly Labs was arguably the most controversial company in the bitcoin world after Mt. Gox, the bitcoin exchange that filed for bankruptcy. But while Mt. Gox was merely incompetent, Butterfly Labs may have been malicious. Plus, they were dicks.

Customers who did receive their orders found they were obsolete. A Butterfly Labs representative said the delayed machines were only useful as a "room heater," according to the FTC. Despite widespread failure to deliver, Butterfly Labs began offering new products and services in an even more powerful bitcoin miner and a remote mining service. The FTC says the company failed to deliver those, too. Butterfly Labs did not immediately respond to a request for comment.

In the past, the company has said delays were due to various manufacturing complications. The company has now been shut down pending a court case. Butterfly Labs is disappointed in the heavy-handed actions of the Federal Trade Commission. In a rush to judgment, the FTC has acted as judge, jury and executioner, contrary to our intended system of governmental checks and balances.

The FTC's current actions are negatively impacting our thousands of customers and our dozens of employees. Their current media campaign should only further alarm a knowing citizenry and raise questions as to why the FTC wouldn't simply let this case play out through the judicial system. That is what Butterfly Labs intends to do. Butterfly Labs is being portrayed by the FTC as a bogus and fake company. To the contrary, Butterfly Labs is very real. Butterfly Labs was literally is in the midst of shipping out completed products to fulfill the remaining millions of dollars of orders on our books and issuing requested refunds, when the FTC effectively closed the doors of Butterfly Labs without any chance to be heard in court.

For Release. Press Release Reference:. I Would Like To Stay Connected with the FTC.