If you believe the leaked emails, Mr Tihan Seale is the one who suggests using customers’ deposits for company’s expenses in the first place.
We do not know the real shortfall and how much all the hacks (with or without the inverted commas) up to date account for. 5% - 15% of deposits, less?
What we can be sure, however, is that (if this saga is ever to be resolved this way) after paying ‘creditors’ off and all the associated expenses, there would be far less left that it is already there.
Giving poster the benefit of the doubt, i believe current ‘legal way’ plan is (since they had made enough money on the exchange rate already) after ‘sufficient’ time actually process and refund USD deposits to cover their butts, maybe even returning the coins in USD form ‘at the moment of …’ at x% of their current value if the remaining funds/current exchange rate allows.
If they really wanted, there is an easy way to ask customers to resubmit the claims and cross reference them with existing details from Consultancy and Zhou and then simply pay off what’s left of funds to all verified/able proportionally.
The legal way Mr Seale is intended upon would only benefit him and his creditors at customers’ expense, as all ‘legal ways’ do.
Topic: [ANN] Bitcoinica Consultancy abandons customers. Bitcoinica to enter Liquidation - page 16. (Read 54938 times)
August 02, 2012, 05:52:22 AM
August 02, 2012, 05:45:02 AM
Allow me to re-ask my previous question, but from a different tangent.
Tihan Seale--Will you go on record stating who was the guy you met in the Chimelong Hotel (Guangzhou) lobby this past February? Which one of the two images below did the guy you met resemble the most? Also, please let the community know that you conducted due diligence researching exactly who is "Zhou Tong" prior to the transferring ofpayola funds to said previous owner of Bitcoinica, or was it standard operating procedure to pay any Asian boy who simply claimed he built the Bitconica site, with the hope that you got rucky and tipped the right boy.
~Bruno~
Tihan Seale--Will you go on record stating who was the guy you met in the Chimelong Hotel (Guangzhou) lobby this past February? Which one of the two images below did the guy you met resemble the most? Also, please let the community know that you conducted due diligence researching exactly who is "Zhou Tong" prior to the transferring of
~Bruno~
Looking to the picture with "Dear Bruno, I'm real" poster, I can't get one thing:
Why Zhou Tong trying to prove he is real? If we believe he doesn't really exist then his ass will be safer, coz noone will try to sue him for recent Bitcoinica hack...
August 02, 2012, 04:03:13 AM
Mr Seale, please identify Zhou Tong, would you? It spares us another 50 pages of ongoing speculation in 3 different threads. Thank you!
August 02, 2012, 04:00:57 AM
Why do we keep letting employees of bitcoinica give "Announcements" without any proof anything will actually happen.
Tihan is not an employee of Bitcoinica. A limited partner's status under NZ law is identical to that of a company shareholder.
Users could have forced the liquidation of Bitcoinica but chose not to do so because it would lessen percentage of funds returned to them and slow down the process of those funds being returned. It's now pretty much impossible for the refund process to continue without the company being liquidated.
August 02, 2012, 02:47:35 AM
Why do we keep letting employees of bitcoinica give "Announcements" without any proof anything will actually happen. I see no reason to not believe they are going to run off with our money. Every update ever given every minuscule payout has always been it appears to delay and give false hope. They have played on our emotions by passing blame around and causing members of this forum to take sides. The drama regarding bitcoinica is not important to me. They are responsible to give back the remaining percentage of funds they may have and then we should be responsible to sue them for the rest due to their incompetance. If they do not give back the remaining funds they do have anyone associated with bitcoinica should be considered untrustworthy and not allowed to do or get any business from this forum. If they are allowed to stay I see no reason to keep an account here. I don't think this should be a haven for scammers. Bitcoin is not bitcointalk.org
August 02, 2012, 01:04:39 AM
Rackspace hack
Was Rackspace itself actually hacked?
I thought it was only the bitcoinica system within the vm that was compromised.
Symantics aside, I applaud your work in doing the right thing by bitcoinica's users
August 02, 2012, 12:37:35 AM
The short version is that:
Amir, Patrick and Donald of Intersango have all made this problem MUCH MUCH WORSE by refusing to act or even reply to emails.
Because of those three, everyone who had money in Bitcoinca will receive back less money than they would have, had they been cooperative.
They should be ashamed.
Amir, Patrick and Donald of Intersango have all made this problem MUCH MUCH WORSE by refusing to act or even reply to emails.
Because of those three, everyone who had money in Bitcoinca will receive back less money than they would have, had they been cooperative.
They should be ashamed.
+1
August 02, 2012, 12:00:06 AM
When you deposit funds on MtGox, those funds are then used for other accounts, it's the way most (if not all) online wallets are working.
Used for what?
I thought this funds were in a single account, as you admitted.
https://en.bitcoin.it/wiki/Browser-based_wallet#Things_to_be_aware_of
Basically, the blockchain is not a reliable way to track bitcoins deposited on online wallets.
August 01, 2012, 11:48:59 PM
When you deposit funds on MtGox, those funds are then used for other accounts, it's the way most (if not all) online wallets are working.
Used for what?
I thought this funds were in a single account, as you admitted.
August 01, 2012, 11:46:02 PM
Bitcoinica funds splitting:
1M2U1HRCXCJhL8zhdXcHx6YFLPff6S1J9k 4714.65137532 BTC
15i6xbw32JQCf2JkF5hFZXWzCWYkiydReH 3512.97269011 BTC
http://blockchain.info/address/1KTBQwKT1V2w1RZXtzycqJkRJqxtwZdZdX
1M2U1HRCXCJhL8zhdXcHx6YFLPff6S1J9k 4714.65137532 BTC
15i6xbw32JQCf2JkF5hFZXWzCWYkiydReH 3512.97269011 BTC
http://blockchain.info/address/1KTBQwKT1V2w1RZXtzycqJkRJqxtwZdZdX
August 01, 2012, 11:36:04 PM
So why the funds where split in four parts if there is only one account?
The funds were split in four different wallets, including one which have been used for previous transactions.
http://blockchain.info/address/1BpuTiQKCKrikmmsbr91D9MVVzdJZyYCf1
The funds were split in four different wallets, including one which have been used for previous transactions.
http://blockchain.info/address/1BpuTiQKCKrikmmsbr91D9MVVzdJZyYCf1
When you deposit funds on MtGox, those funds are then used for other accounts, it's the way most (if not all) online wallets are working.
August 01, 2012, 11:33:58 PM
MtGox officially confirms currently having on deposit those 15,006.00000000 BTC. As you may know, our system uses a pooled Bitcoin online reserve, which means that activity beyond that point is no longer from Bitcoinica, LP.
We also have disabled the ability to withdraw Bitcoins from the account where those Bitcoins are held to ensure the security of those coins until we receive validated information from an appointed receiver for Bitcoinica, LP.
So why the funds where split in four parts if there is only one account?
The funds were split in four different wallets, including one which have been used for previous transactions.
http://blockchain.info/address/1BpuTiQKCKrikmmsbr91D9MVVzdJZyYCf1
August 01, 2012, 11:32:30 PM
How does this effect the efforts by Mt Gox, AurumXChange, et al. to recover the funds from Zhou (or his mysterious friend as the case may be?)
This should remove roadblocks to recovering additional funds.
When the hacker was ready to return 15,000 BTC, that transaction was delayed for days because the Consultancy would not provide a receiving address.
Thankfully, Mr. Murck stepped in as a licensed attorney to broker their receipt. He was subjected to a lot of hazing and invasion of privacy here for doing so. Without him, the coins might never have been recovered.
Those funds and any additional recovered funds will be placed under control of a receiver. This is a formal legal process that will allow Mt Gox et al to release funds to the receiver for distribution.
If what you say is true about the Consultancy, then shame on them. They are avoiding any responsibility for this mess by doing nothing.
August 01, 2012, 11:14:04 PM
Bitcoinica funds moving forward:
19XTyevts1R1UbJPTv6JiuTW69R6ULXuF7 6,778.37593457 BTC
1KTBQwKT1V2w1RZXtzycqJkRJqxtwZdZdX 8,227.62406543 BTC
http://blockchain.info/address/1N99P8Z5AQXWEYZiS6ddov9Fyc4kuGPpwJ
19XTyevts1R1UbJPTv6JiuTW69R6ULXuF7 6,778.37593457 BTC
1KTBQwKT1V2w1RZXtzycqJkRJqxtwZdZdX 8,227.62406543 BTC
http://blockchain.info/address/1N99P8Z5AQXWEYZiS6ddov9Fyc4kuGPpwJ
Actually those funds were deposited on MtGox by Patrick Murck, cf:
Quick update. The returned Bitcoins are being moved to an account where the receiver can consolidate funds. Transaction details here: http://blockchain.info/address/1LH6Q1ZXvdQepz8hfQd7kx6XHrggz1VkzD.
More updates to come.
Thanks,
Patrick
More updates to come.
Thanks,
Patrick
MtGox officially confirms currently having on deposit those 15,006.00000000 BTC. As you may know, our system uses a pooled Bitcoin online reserve, which means that activity beyond that point is no longer from Bitcoinica, LP.
We also have disabled the ability to withdraw Bitcoins from the account where those Bitcoins are held to ensure the security of those coins until we receive validated information from an appointed receiver for Bitcoinica, LP.
August 01, 2012, 10:59:09 PM
Tihan-
So, will you be requesting funds back from those who got paid out 100% of their claims so that everyone will get an equal proportion back? And is it true that you had a hand in paying out 100% to a select group?
So, will you be requesting funds back from those who got paid out 100% of their claims so that everyone will get an equal proportion back? And is it true that you had a hand in paying out 100% to a select group?
Please understand that I have no authority over the payout process past, present or future.
I'm only updating the community on the actions initiated by the investment group to move that process out of the hands of the Consultancy and into the hands of a legally appointed receiver.
Authority is one thing; strong influence is another.
August 01, 2012, 10:54:50 PM
More Bitcoinica funds moving forward:
1BpuTiQKCKrikmmsbr91D9MVVzdJZyYCf 11000.677 BTC
1AchWGg13HJqny5j5YZTmWvKGsTWWzDxwj 5795.52588052 BTC
http://blockchain.info/address/19XTyevts1R1UbJPTv6JiuTW69R6ULXuF7
1BpuTiQKCKrikmmsbr91D9MVVzdJZyYCf 11000.677 BTC
1AchWGg13HJqny5j5YZTmWvKGsTWWzDxwj 5795.52588052 BTC
http://blockchain.info/address/19XTyevts1R1UbJPTv6JiuTW69R6ULXuF7
August 01, 2012, 10:36:43 PM
Tihan-
So, will you be requesting funds back from those who got paid out 100% of their claims so that everyone will get an equal proportion back? And is it true that you had a hand in paying out 100% to a select group?
So, will you be requesting funds back from those who got paid out 100% of their claims so that everyone will get an equal proportion back? And is it true that you had a hand in paying out 100% to a select group?
Please understand that I have no authority over the payout process past, present or future.
I'm only updating the community on the actions initiated by the investment group to move that process out of the hands of the Consultancy and into the hands of a legally appointed receiver.
You missed answering a question, but take your time, for I'll keep asking after each time you side-step it.
~Bruno~
August 01, 2012, 10:24:33 PM
Bitcoinica funds moving forward:
19XTyevts1R1UbJPTv6JiuTW69R6ULXuF7 6,778.37593457 BTC
1KTBQwKT1V2w1RZXtzycqJkRJqxtwZdZdX 8,227.62406543 BTC
http://blockchain.info/address/1N99P8Z5AQXWEYZiS6ddov9Fyc4kuGPpwJ
19XTyevts1R1UbJPTv6JiuTW69R6ULXuF7 6,778.37593457 BTC
1KTBQwKT1V2w1RZXtzycqJkRJqxtwZdZdX 8,227.62406543 BTC
http://blockchain.info/address/1N99P8Z5AQXWEYZiS6ddov9Fyc4kuGPpwJ
August 01, 2012, 10:19:03 PM
Tihan-
So, will you be requesting funds back from those who got paid out 100% of their claims so that everyone will get an equal proportion back? And is it true that you had a hand in paying out 100% to a select group?
So, will you be requesting funds back from those who got paid out 100% of their claims so that everyone will get an equal proportion back? And is it true that you had a hand in paying out 100% to a select group?
Please understand that I have no authority over the payout process past, present or future.
I'm only updating the community on the actions initiated by the investment group to move that process out of the hands of the Consultancy and into the hands of a legally appointed receiver.
August 01, 2012, 10:16:41 PM
Allow me to re-ask my previous question, but from a different tangent.
Tihan Seale--Will you go on record stating who was the guy you met in the Chimelong Hotel (Guangzhou) lobby this past February? Which one of the two images below did the guy you met resemble the most? Also, please let the community know that you conducted due diligence researching exactly who is "Zhou Tong" prior to the transferring ofpayola funds to said previous owner of Bitcoinica, or was it standard operating procedure to pay any Asian boy who simply claimed he built the Bitconica site, with the hope that you got rucky and tipped the right boy.
~Bruno~
Tihan Seale--Will you go on record stating who was the guy you met in the Chimelong Hotel (Guangzhou) lobby this past February? Which one of the two images below did the guy you met resemble the most? Also, please let the community know that you conducted due diligence researching exactly who is "Zhou Tong" prior to the transferring of
~Bruno~
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