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Third Party Linden Dollar Exchanges after ToS changes

Kika Eel

By Kika Eel,
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Kika Eel

Kika Eel

Posted
Posted

Since the change in ToS left us all a bit confused, I´ve just visited all the websites of 3rd party exchanges to check on the present situation and I´ve prepared a small summary of their statements.
My list is based on the archive version of the article ¨Third Party Linden Dollar Exchanges¨ removed from Second Life Wiki by Jeremy Linden on May 7th, 2013.


In the end we really have only AnsheX and Podex still operating. CrossWorlds xchange also provides services but only to their already existing clients.

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For anyone intereseted in current situation here is the link to my

 List of Third Party Linden Dollar Exchanges after the change of ToS.

 

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  • Operating Exchanges

AnsheX

operating

AnsheX Support Team on Live Chat assured that nothing has changed for their company and they are still allowed to buy and sell L$.

 

PODEX  

operating,

applying to become officially registered MSB

Despite the dark clouds over independent third party exchanges Podex Exchange continues its normal work selling and buyingL$. The only change is stricter security policy which can cause delays with some transactions. We are sorry for it.

We also want to assure our clients that not only their real money and linden dollars are save with us but also their personal data. Our policy of not requiring any registration to use Podex services have always guaranteed maximum security. We just have nothing to be stolen.

To remain in total compliance with Linden Lab regulations and The Financial Crimes Enforcement Network (“FinCEN”) guidance our legal office started preparing application process to become officially registered money services business (MSB).

 

 

 
  • Not Operating Exchanges

DX exchange

not operating

As to all the other third party exchanges Linden Lab has summed us to end all our exchange activities by Monday morning San Fransisco time. It is still our opinion that the TOS gives us a 30 days period after the first notification of the change to prepare us for the reduction of our right to exchange inSL. 

However we do realize that with blocking our avatars Linden Lab can disable our business within seconds. We also realize that we put our clients at risk to lose their lindens in case we annoy Linden Lab. To avoid so we suspend our exchange activities indefinitely at Sunday Night 0.00 hours by shutting down our systems. We advise our clients to withdraw their lindens at our ATM's  right after they have purchased them, but anyhow before Sunday Night 23.00 hours to be sure to get them delivered before shut down. Might there be payments to our escrow bank account for which no lindens are delivered, these payments will be refunded because we cannot execute backorders.Starting to prep for this 'meltdown' we disabled the possibility to sell lindens to us. We also disabled the credit card as a payment option. For these clients it is the easiest to buy at the Lindex.

 

VirWox

not operating

2013-05-11: UPDATE regarding changes in Linden Lab's TOS 

Linden Lab has recently changed their Terms of Service. As a result, we are currently not able to offer our service to Second Life residents. This means that our in-world terminal can currently not accept Linden Dollars from Second Life and there can be no payouts of Linden Dollars to Second Life.Other currencies are not affected. If you have Linden Dollars on your VirWoX account, you may still exchange them to another currency and request a payout.

We are working towards a solution and will post updates here as the situation develops. Please refrain from sending us support messages about this issue, at the moment we will not be able to give you more information. Thank you for your patience and understanding.

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Linden Lab has recently changed their Terms of Service. Under the new rules, we will no longer be able to offer our service to Second Life residents. Linden Lab insists that our in-world terminals (ATMs) have to be removed.

This means that we can currently not accept Linden Dollars from Second Life or pay Linden Dollars to Second Life. Other virtual currencies are not affected.

We will post updates here as the situation develops. Please refrain from sending us support messages about this issue, at the moment we will not be able to give you more information.

 

CrossWorlds xchange

not operating,

open only to existing users to sell L$

CrossWorlds xchange - On May 7, 2013 we were sent notification by Linden Lab that they would no longer allow Third Party Exchanges to operate in Second Life. As per the Second Life ToS we have 30 days to comply. We have contacted Linden Lab to clarify the problem and as of yet had NO reply. 

Therefore... we will operate until June 5,2013. 

PLEASE NOTE: if you have not used our service before we WILL NOT accept your transaction via PayPal, you will only be able to buy via Bitcoin! Our service is only open to existing users to sell L$

 

Xchange4LS 

not operating

As everyone already knows, we had to stop our service because of the updated ToS of Second Life with immediate effect.
The recent negotiations with Linden Labs brought little hope for resumption of services in the same manner as before.
We are currently thinking about how we can modify our service, so that our customers from SL, who have no credit card or paypal can participate on Secondlife further.
We can no longer make payments of Linden Dollars, our scripts were stopped by Linden Labs. Any further attempt would result in the suspension of our avatars.
In case of questions or ambiguities please contact of Linden Labs directy.

 

ELDEXchange

not operating

As notified on 07.05.2013, the new Terms of Service of LindenLab affect the business of Third Party Exchanges as us. It might be that they are not allowed to do business in Second Life anymore with immediate effect. 

We are seeking for clarification. In the meantime we cannot accept any new orders for Second Life, therefore we have deactivated all our services. Of course we complete orders, which have been placed before. 

As soon as we get any news, you will be informed immediately. In the meantime please don't send any questions about this issue, since we can't answer them yet. Thank you for your patience and understanding

 

Exchange24 

not operating

サービス停止のお知らせ 

(Notice of Service Interruptions)

 

moneyslex

not operating

Linden Lab has recently changed their Terms of Service. 
Trading L$ as Third Party exchange Linden Lab interprets as "unauthorized" as "not permitted". 
This would mean that we can at the moment not offer our service to Second Life residents. We will update you if we get new informations.

 

VM Exchange 

not operating

Linden Lab has change ToS of Second Life, at the moment we are not allowed to sell or buy L$. We are trying to get information from Linden Lab, we will give more information as soon as possible. Sorry for the inconvenience.

 

Virtuateq eXchange

not operating

Zoals jullie wellicht al hebben gelezen heeft Linden Lab op 7 mei de nieuwe Second Life Terms of Service uitgebracht. In het kort komt het erop neer dat wij als 3rd Party Exchange geen Linden dollars meer mogen kopen of verkopen. Maar voorlopig in ieder geval nog tot aanstaande zondag.Zodra er meer nieuws is hierover berichten wij dat op onze website. 

(As you may have already read, Linden Lab  released the new Second Life Terms of Service on May 7. In short, it means that we, as 3rd Party Exchange of Linden dollars, are no longer allowed to buy or sell. For the time being, at least until next Sunday. Once there is more news, we will post it on our website.)

 

Brando Estate

not operating

No statement, only sad error message: 

Warning: main(menuepunkte/en/lindenkauf.php) [function.main]: failed to open stream: No such file or directory in /homepages/17/d214810556/htdocs/index.php on line 118

 

Bulido 

not operating

Linden Lab has recently changed their Terms of Service. Section 5.3 states that transactions on Linden Dollar exchanges other than the LindeX are "unauthorized" and "Buying or Selling Linden dollars anywhere other than the LindeX is done so solely at your own risk.". This is not much different that what is was before.

However, in a recent blog post Linden Lab interprets "unauthorized" as "not permitted". This would mean that we can no longer offer our service to Second Life residents.

We have asked Linden Lab for clarification. Until we know what this all means, we have disabled all transactions.

We will post updates here when we know more. Please refrain from sending us support questions about this issue, at the moment we will not be able to give you more information.

 

FANTASYLAND Estate’s vForEX Inc. 

not operating

8th May 2013: Owing to the changes in Linden Labs’ TOS for Second Life, vForEX Inc. activities have been suspended till further notice. We apologise for the inconvenience to our clients.

 

MBKASH

 not operating

No statement, functionality of the website removed.


 

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I´ll do my best to keep it updated.

For anyone intereseted in current situation here is the link to my

 List of Third Party Linden Dollar Exchanges after the change of ToS.

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Alicia Sautereau

Alicia Sautereau

Posted
Posted

So to make a general assumption, for a TPE to stay in business they will have to get a MSB license and most likely some sort of legal document stating a few things regarding reponsability of LL

Anshe having it all sorted legally isn`t a suprise, but nice to see a TPE stand to the challange to remain open

Good luck Podex!  :matte-motes-bashful-cute-2:

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Perrie Juran

Perrie Juran

Posted
Posted

Can some one confirm for me  who actually uses Anshex, do they or do they not have a "sell $L function?"

Although I see a function to sell $L on their web site, I have read a few commnets from people stating that Anshex does not have a working "sell function."

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jwenting

jwenting

Posted
Posted

WolfBaginski Bearsfoot wrote:

It strikes me as odd that some exchanges claim Linden Labs set a deadline of Monday to shut down. others have shut down instantly, and others wanted clarification.

Is there anyone we can trust in this business?

Most except Anshex probably just want to make people blame LL for everything, when Anshex is working with LL to get things settled...

Remember Anshex == Chung == a very big partner to LL. If they can't legally continue (and that's the point, LL are forced by LAW to do this) there's very little the others can do.

Until they can work out ways to prevent money laundering through their systems, they won't be able to resume operations.

And that's tricky. Too easy to have one account buy L$ from a bank account in the Bahamas, transfer the L$ to another account, and have that account sell the L$ to get funds on a bank account in Switzerland.

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Jaimy Hancroft

Jaimy Hancroft

Posted
Posted

PODEX: Tonight at 2.00 o’clock all my accounts related to Podex Exchange were put on hold by Linden Lab.

I really believed that the new ToS is meant to protect avatars from the risk of fraud. That was my goal as well so I was looking forward to cooperate with Linden Lab. I could not imagine that over one night they would want to destroy our cooperation and everything what I built for 6 years of my virtual life. They did.

I believed that they would answer my requests to start discussion. They did not.

All customers whose transactions have not been completed are asked to contact our support. I personally promise that they will not lose their money.

Podex is still working but its Second Life activity is now stopped.

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