$2 Billion Lost in Mt. Gox Bitcoin Hack Can Be Recovered, Lawyer Claims

Dildo Shwaggins

jr. member

Activity: 54

Merit: 2

Quote from: Hueristic on December 26, 2019, 07:41:12 PM

Quote from: Dildo Shwaggins on December 26, 2019, 01:20:14 PM

Quote from: kotik085 on December 26, 2019, 12:52:01 PM

Alexander Vinik is involved in this exchange and this makes him leave. Where there is a lot of money, there is a lot of hype. What is the matter, there is a person, he himself received these funds and has the full right to dispose of them in further actions.

I don't understand what you want to say. You do know though that Alexander Vinnik was arrested in Greece in 2017 and will probably be extradited to France (and consequently to the US)? Also how exactly he has any right over stolen funds? What exactly is your point?

I gotta say I have to merit you just for the fact your Moniker made me laugh.

Thanks a lot friend, I hope my writing skills are up to standard and hopefully I can contribute with useful content as well!

Hueristic

legendary

Activity: 3836

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Doomed to see the future and unable to prevent it

Quote from: Dildo Shwaggins on December 26, 2019, 01:20:14 PM

Quote from: kotik085 on December 26, 2019, 12:52:01 PM

Alexander Vinik is involved in this exchange and this makes him leave. Where there is a lot of money, there is a lot of hype. What is the matter, there is a person, he himself received these funds and has the full right to dispose of them in further actions.

I don't understand what you want to say. You do know though that Alexander Vinnik was arrested in Greece in 2017 and will probably be extradited to France (and consequently to the US)? Also how exactly he has any right over stolen funds? What exactly is your point?

I gotta say I have to merit you just for the fact your Moniker made me laugh.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: kotik085 on December 26, 2019, 12:52:01 PM

Alexander Vinik is involved in this exchange and this makes him leave. Where there is a lot of money, there is a lot of hype. What is the matter, there is a person, he himself received these funds and has the full right to dispose of them in further actions.

Learn English and try again please.

Dildo Shwaggins

jr. member

Activity: 54

Merit: 2

Quote from: kotik085 on December 26, 2019, 12:52:01 PM

Alexander Vinik is involved in this exchange and this makes him leave. Where there is a lot of money, there is a lot of hype. What is the matter, there is a person, he himself received these funds and has the full right to dispose of them in further actions.

I don't understand what you want to say. You do know though that Alexander Vinnik was arrested in Greece in 2017 and will probably be extradited to France (and consequently to the US)? Also how exactly he has any right over stolen funds? What exactly is your point?

kotik085

jr. member

Activity: 154

Merit: 1

Alexander Vinik is involved in this exchange and this makes him leave. Where there is a lot of money, there is a lot of hype. What is the matter, there is a person, he himself received these funds and has the full right to dispose of them in further actions.

Lauren Smith

sr. member

Activity: 1050

Merit: 277

The lawyers will say they can recover it because they want to have their high fees paid and find it or not they will profit either way. So we cant listen to what they say. If they have found people that have received stolen bitcoin how did they do that and if they know so much why are there no arrests? I would not bet on them getting any funds back.

bitvestorhacked

newbie

Activity: 112

Merit: 0

I would not expect lots of replies to this topic, there are people recovering from the grief of this, people who have totally recovered, do not reopen wounds, people committed suicide, what i lost was not as much as what others lost, but if converted today with the current btc price or last year when btc was all time high i would be well, GREAT! Hell, song was made about this, people got depressed.

Then Cryptsy, oh they did a number on us too, and my btc, then i got an email

UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF FLORIDA

NOTICE OF PROPOSED PARTIAL SETTLEMENTS OF CLASS ACTION,
PENDENCY OF CLASS ACTION, FAIRNESS HEARING, AND RIGHT TO APPEAR

If you are a CRYPTSY account holder and are unable to access your CRYPTOCURRENCY, you could get money from two different class action settlements, and an ongoing class action lawsuit may affect your rights.
Please read this notice carefully.

A court authorized this notice. This is not a solicitation from a lawyer.

Then the lengthy letter all the way down, not going to bore anyone but let the wounds created just heal, this people have no heart but then again i learnt a valuable lesson never ever leave your money in an exchange, this says i can't sleep if i have money in an exchange, i get nervous and night sweats.

luppecuppe

full member

Activity: 518

Merit: 102

I'm tired of hearing the name Mt.Gox. Markets are already uneasy. Bitcoin did not catch a good uptrend. Why does this name come up all the time? The issue of hacking has not been resolved for years. Why is that? Give people the money and this effect is over.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

I'm glad that I got out before things went dark. I lost around 15-20% of my funds, but that's a small price to pay compared to the total loss for the majority of other users.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: gentlemand on December 09, 2019, 02:23:03 PM

Quote from: justagox on December 09, 2019, 02:09:09 PM

https://www.coindesk.com/criminal-case-against-failed-wex-exchange-points-at-russian-law-enforcement

Hmm. Would it be a surprise if this was true? American law enforcement had plenty of fun on Silk Road.

It's certainly doing no favours for Russia's image to the outside world but they seem to be long past minding about that.

it's a very interesting version of events, i'll say that much. unfortunately all the evidence is circumstantial and as expected, everyone implicated (including the russian government) is refusing to comment or denying involvement.

we don't know for sure that Malofeev and Nemkin are related to the supposed FSB operation that cleaned out WEX. meanwhile, this exchange "vladex" still doesn't exist, which sort of casts doubt on the whole story.

at this point, i don't think we'll ever find out the whole truth---especially if it really involves the FSB.

gentlemand

legendary

Activity: 2590

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Welt Am Draht

Quote from: justagox on December 09, 2019, 02:09:09 PM

https://www.coindesk.com/criminal-case-against-failed-wex-exchange-points-at-russian-law-enforcement

Hmm. Would it be a surprise if this was true? American law enforcement had plenty of fun on Silk Road.

It's certainly doing no favours for Russia's image to the outside world but they seem to be long past minding about that.

justagox

newbie

Activity: 24

Merit: 1

https://www.coindesk.com/criminal-case-against-failed-wex-exchange-points-at-russian-law-enforcement

clickerz

hero member

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Backed.Finance

Quote from: lobat999 on October 04, 2019, 06:23:44 PM

Quote from: boltz on October 04, 2019, 12:01:14 PM

If this is true, then the MT Gox victims could get their hope back and maybe even their lost bitcoin but that firm will take some for sure if they provide that service. The amount of money that those bitcoin are worth now is big enough to cover any costs that will take in order for the operation to be done.
Even so , the difficulty in this is way above normal and I still don't know how they could recover such a big amount if bitcoin who were lost more than 4 years ago because a lot of blocks have been mined since then. Anyway I hope all of the Mt Gox victims will have another reason to celebrate sooner than they think.

That law firm might be outstanding and what they are talking maybe true - thus the possibility to recover those lost BTC maybe realized! But I feel an injustice to those victims of that hacking incident since its not right to charge their customers with an insanely 50 - 75 percent cutback!

Considering the huge amount of money involved in this matter, I guess that condition makes them looks like opportunists which in essence, they are just like those hackers! Greed sets in again.

I pity that this goes this way. Its unfortunate to those who loss their money in this Mt. Gox exchange scandal. It seems that the victims will be scammed again in recovering their crypto assets. But, if they can recover I think its better than never. But its difficult to identify those clients especially now that several years had past.

Kyraishi

hero member

Activity: 952

Merit: 513

Quote from: AmoreJaz on October 02, 2019, 09:21:14 PM

in a nutshell, theres more than meets the eye in this situation! crypto users who lost money from this hack should not expect anything from this news. sounds great but lets look at the reality!

wonder how far these lawyers will go out their way to follow through this case. or this is just another media propaganda?

Agreed. There is 100 percent no way people will get their money back, even if the money is recovered, it needs to go through the law firm, the government, and other possible entities before distribution of the remaining funds starts, which is going to be rough, because will anyone actually bother to send out all of these funds? The likely answer will be no.

Lauren Smith

sr. member

Activity: 1050

Merit: 277

Quote from: serjent05 on September 14, 2019, 04:48:53 PM

It would be nice if what the lawyer claims is true and can be done. The thing is, lawyers tends to say things to console the victims for the sake of getting paid for their services. It had been several years passed and yet, the lost Bitcoin had not been recovered. Even if they pinpoint who the receivers are, it is quite impossible to get 100% of the lost funds of MT. Gox because they could had been sold already. Another thing is the accuracy of finding involved people. It is easier said than done IMHO.

I don't think they will get any funds. This is just a spectacle. Even if they do retrieve the funds who do they give them to or what do they do with them? You right lawyers do console theor clients like that. I always say when you sue someone like a custody battle and things like that the only winners are the two lawyers and they are laughing all the way to the bank.

lobat999

sr. member

Activity: 1078

Merit: 310

Quote from: boltz on October 04, 2019, 12:01:14 PM

If this is true, then the MT Gox victims could get their hope back and maybe even their lost bitcoin but that firm will take some for sure if they provide that service. The amount of money that those bitcoin are worth now is big enough to cover any costs that will take in order for the operation to be done.
Even so , the difficulty in this is way above normal and I still don't know how they could recover such a big amount if bitcoin who were lost more than 4 years ago because a lot of blocks have been mined since then. Anyway I hope all of the Mt Gox victims will have another reason to celebrate sooner than they think.

That law firm might be outstanding and what they are talking maybe true - thus the possibility to recover those lost BTC maybe realized! But I feel an injustice to those victims of that hacking incident since its not right to charge their customers with an insanely 50 - 75 percent cutback!

Considering the huge amount of money involved in this matter, I guess that condition makes them looks like opportunists which in essence, they are just like those hackers! Greed sets in again.

boltz

legendary

Activity: 3388

Merit: 1205

If this is true, then the MT Gox victims could get their hope back and maybe even their lost bitcoin but that firm will take some for sure if they provide that service. The amount of money that those bitcoin are worth now is big enough to cover any costs that will take in order for the operation to be done.
Even so , the difficulty in this is way above normal and I still don't know how they could recover such a big amount if bitcoin who were lost more than 4 years ago because a lot of blocks have been mined since then. Anyway I hope all of the Mt Gox victims will have another reason to celebrate sooner than they think.

lobat999

sr. member

Activity: 1078

Merit: 310

Adding to the complexity of the situation is that many of the entities are interested to have a share of the recovered funds but I guess they will get into a compromise on this matter! Anyway what ever will be the outcome of the investigations lately, I just hope that those who had suffered loss during the hack will be given justice and just compensation and a chance to move on. Imho.

justagox

newbie

Activity: 24

Merit: 1

Want to correct some misconceptions. Trustee is still working on returning the bitcoins he is holding. Current estimates put it at about 16% of claim + $480 usd per coin.
Also, stolen coins going through btce is well known and is almost but certain. Vinnik had account and doxxed himself on gox as WME. It is the current guess by many that the coins went to btce and any further recovery is tied to Vinnik. Until further events happen in regards to his extradition (supposed to be by January) it is hard to know how this will take course

lobat999

sr. member

Activity: 1078

Merit: 310

Quote

According to Mt Gox creditors, ZP Legal contacted them earlier this year, offering an opportunity to recover almost a quarter of the missing 850,000 bitcoins stolen in the 2014 hack of the exchange. (The coins were worth more than $450 million at the time of the theft and $8.5 billion today.)

I have an interesting idea! Assuming that a quarter of all 850,000 Bitcoins that was lost during the hack could be recovered, and with a 50 -75 percent cut by that law firm, the stakeholders could receive an estimated net of more or less $530 million from current value which is a little bit higher than its estimated value of $450 million at the time of the hack.

Now I was thinking if there was an "under the table deal" between this law firm and those that benefited from this hack? So that they could come into a negotiated deal which could by far free those people from legal liabilities and so in the end, they all go home in a win-win situation. I think a compromised agreement will be made out of this crypto drama.

Source: https://www.coindesk.com/2-billion-lost-in-mt-gox-bitcoin-hack-can-be-recovered-lawyer-claims

Topic: $2 Billion Lost in Mt. Gox Bitcoin Hack Can Be Recovered, Lawyer Claims (Read 689 times)