Quote
Bitcoinica Shutdown is Potentially Permanent
Saturday, May 12, 2012 by GoWest
The latest from Zhou Tong in regards to yesterday's hack and the loss of over 18,000 Bitcoins:
- It's more serious than we thought. We need some additional time to come up with a compensation proposal.
- Likely we will either shut down the platform or re-develop entirely (which will take months instead of days).
- The preliminary decision: reimburse for the full amount, including margin balances and position P/L.
- The root cause of this problem is an email server compromise. The email server belongs to one of our team members.
[...]
Sadly, these events are unfolding only 18 days after ownership of Bitcoinica was transferred to Intersango, who is now left holding the bag.
http://www.thebitcointrader.com/2012/05/bitcoinica-potentially-to-shutdown.html
Saturday, May 12, 2012 by GoWest
The latest from Zhou Tong in regards to yesterday's hack and the loss of over 18,000 Bitcoins:
- It's more serious than we thought. We need some additional time to come up with a compensation proposal.
- Likely we will either shut down the platform or re-develop entirely (which will take months instead of days).
- The preliminary decision: reimburse for the full amount, including margin balances and position P/L.
- The root cause of this problem is an email server compromise. The email server belongs to one of our team members.
[...]
Sadly, these events are unfolding only 18 days after ownership of Bitcoinica was transferred to Intersango, who is now left holding the bag.
http://www.thebitcointrader.com/2012/05/bitcoinica-potentially-to-shutdown.html
Very short, however it ilustrates what conclusions media are jumping to.