BBB issues warning against bitcoin mining company Cointerra

http://www.latimes.com/business/technology/la-fi-tn-bbb-bitcoin-warning-20140605-story.html



Bitcoin mining hardware is displayed at a bitcoin conference in New York City.

BBB issues warning against bitcoin mining company Cointerra
Riley Snyder
June 6, 2014

The Better Business Bureau issued a consumer warning for one of the nation’s largest bitcoin mining companies that consumers say hasn’t delivered refunds.

Cointerra, based in Austin, Texas, had received close to 40 complaints in May, and did not provide a reason to the bureau for the delayed refunds. Cointerra CEO and founder Ravi Iyengar said the company was working through a significant refund backlog and hadn’t kept the BBB abreast on ongoing issues due to Cointerra’s small staff.

“We have completed the majority of the refund requests that have come in and we plan to get the rest cleared up by the end of this month,” he said.

Iyengar said Cointerra has about 200 more refunds to distribute, and was working with BBB officials to deal with the remaining complaints.