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Topic: [2016-04-19] Shapeshift Rebuilds After Losing $230,000, Promised to Be Back (Read 334 times)

legendary
Activity: 2408
Merit: 1121
Yeah, lets trust someone who can lose 230K. Is Erik channeling Mark Karpeles or something? Could he be any more incompetent?

I'm not sure about the superficial explanation for this particular story. Why disclose the hack at all, when customer funds cannot be stolen through the platform anyway? It's not impossible that this is some kind of tax avoidance on Shapeshifter profits, which wouldn't be out of character for Voorhees, considering the (also) slightly strange circumstances surrounding the sale of Satoshi Dice. It'd be cool if that were so; tax avoidance when you're already based in Panama is a bit of a winning move IMO

There's a rumbling theory knocking around that the recent crackdown on Panama as a tax haven, in light of the "Panama Papers", is going to equal the scope and intensity of Switzerland when its all said and done. He better have all of his ducks in a row, because this "hack" could've been the first shot in a wave of unearthing who exactly is channeling funds to various parties. Funny how he finds himself yet again in the center of potentially dubious behavior. He must have the Mark Karpeles school of management certificate.
legendary
Activity: 3430
Merit: 3079
Yeah, lets trust someone who can lose 230K. Is Erik channeling Mark Karpeles or something? Could he be any more incompetent?

I'm not sure about the superficial explanation for this particular story. Why disclose the hack at all, when customer funds cannot be stolen through the platform anyway? It's not impossible that this is some kind of tax avoidance on Shapeshifter profits, which wouldn't be out of character for Voorhees, considering the (also) slightly strange circumstances surrounding the sale of Satoshi Dice. It'd be cool if that were so; tax avoidance when you're already based in Panama is a bit of a winning move IMO
legendary
Activity: 2408
Merit: 1121
Yeah, lets trust someone who can lose 230K. Is Erik channeling Mark Karpeles or something? Could he be any more incompetent?
sr. member
Activity: 266
Merit: 250
One world One currency, Bitcoin.
I really missed it, it is a quick service, better than exchanges. It's back now. converted my few LTC
sr. member
Activity: 308
Merit: 250
After a month of battling several attacks on Shapeshift’s trading platform, the company announced a full shutdown of their website to be reconstructed with improved security due to missing funds which tallied up to $230,000. The platform should be back on April 20.

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