Are you serious? That blows man. What happened?
So on April 15 (AKA Black Friday), the DOJ decided to go after a bunch of head honchos in the online poker world for stuff like bank fraud, and they froze a bunch of bank accounts. The sites affected were:
Pokerstars (PStars, largest poker site)
Full Tilt Poker (FTP, second largest, the one I primarily play on)
Ultimate Bet and Absolute Poker (UB/AP, owned by the same company, 3rd or 4th largest I think... maybe smaller)
UB/AP has a very shady history, and anybody that had (has) money on that site is very unlikely to ever see it again IMO. I'll just put that aside for now. I haven't trusted them for a long time.
PStars and FTP froze American player accounts from withdrawing or playing, in compliance with the DOJ. However, after working with the DOJ, PStars was able to allow U.S. players to withdraw within three weeks of Black Friday, which is pretty freaking amazing. I'm not entirely sure how much money the U.S. accounts held, but it was probably something like $200M. PStars has had an outstanding reputation for a very long time.
FTP has a good, but not great, reputation. They're known for having slow, somewhat sloppy customer support. Personally I've had fairly good experiences with their CS, but still nothing amazing. However, when it comes to withdraws, they've always been able to reliably pay their customers, even when there has been legal trouble in the industry. The reason I play at FTP instead of PStars is primarily because I prefer the software and the bonus system is better for the games I play.
Since Black Friday, FTP said time and time again that U.S. player funds are safe, and they're working hard to allow U.S. players to withdraw as quickly as possible, but lots of evidence has come to light that shows otherwise. There's been a lot of information about FTP simply not having the money. They're supposed to keep players' funds and operating funds separate, but it looks like they weren't doing that (this hasn't been totally confirmed though). The lack of good, solid regulatory bodies means makes that even less likely. What has been confirmed is that they're looking for investors, which almost certainly means they're having liquidity troubles.
Anyway, fast-forward to today: the Alderney Gaming Commission, which, AFAIK, is not really a good, solid gaming commission, has decided to revoke FTP's license, probably because of FTP's inability to pay U.S. customers. I'm not sure how big of a deal that might be, except for the fact that FTP's servers are under Alderney jurisdiction. As such, all play (i.e. international) on FTP has come to a halt, thus all of FTP's revenue has come to a halt. Apparently their hearing is set for a month from now. If FTP can't run any games for a month, I doubt there's any way they'll recover as a business. If that's the case, then all their players can kiss the money they had on that site good bye.
It's estimated that the aggregate sum of players' funds is about $300M-$400M on FTP, $150M of which is American. I personally have a bit more than $8K on there (can't check the exact amount right now, because the servers are down obviously).
I used to keep a way bigger portion of my bankroll on there, so it could be a lot worse, but this definitely sucks.