Topic: Bitcoinica liquidator wants to hear from users - page 2. (Read 64418 times)

Can we be certain our documents will be safe?

I'm not comfortable giving out my documents like my passport and proof of address, birth certificate or a utility bill for "just" 50 BTC at a price of what, a few Dollars per BTC. If there would be any distribution of the original amount of BTC in BTC that would be an entirely different story, however it doesn't look like this is anywhere near happening after all these years.

So they sent out another round of letters. Looks like they are planning on doing distributions soonish.

"and the amounts I received between 11 May 2012 and the date of Bitcoinica’s liquidation on 2 November 2012, were as follows:"

Why are they so concerned with these two sets of dates?   Do they have records from May 2012, but not from Nov 2012?  

Also  - you are meant to list your BTC Account balance and USD account balance.  Unfortunately I had a small (6 btc) short. Do I list that as a negative balance?   Otherwise, I know my USD balance.

My main documentation is my claim form submitted to Bitcoinica as I mostly transferred USD there.  I sent the money via Dwolla. So my Dwolla records have it going to Mutum Sigillum LLC.  Was that a MtGox LLC?    Did we use "MtGox Money" to transer funds to Bitcoinica?  I remember something like that.


I also don't understand their form for bank numbers.  I've got a nine digit number (on my check book) and then a 8 digit account number.  A US bank.
 I know how to break it into "routing number" and "account number".  
How do I convert that into their Bank, Branch, Account Number system?

I think they might be using the British system for checks, which differs from the US one.

This is taking ages to be resolved, I guess they all wait for MtGox first.

I actually sent the liquidator an email asking this. Here is their reply:

Did anyone receive any request for additional information in relation to their claim from the liquidator as they stated they would in their letter from 17 July?

I haven't so far.

wow, i wonder if we will be able to claim any more btc from this??

The alleged money-launderer at BTCe is accused of having laundered the Bitcoinica hack:
http://blog.wizsec.jp/2017/07/breaking-open-mtgox-1.html

Where did you find that website address? MagicalTux on reddit mentioned something about a site being up, but I couldn't find a link to it, or details about it.

Looks like Mark has setup some sort of website for claimants.. not sure where this is heading

https://www.mtgoxrecovery.org/l/en_US/

Latest report
1) People have made inquiries about buying Bitcoinica's claim.
2) The liquidators are trying to figure out how to value BTC claims in USD.  This could mean they are worth anything from $10 to $2000+.  Though obviously if we use the current market price, we'll only get a percentage of our claims.

From latest report, without subtracting lawyer fees, I think it grosses around 25%.

There is only one way this is even worth waiting for after all these years. If we can get back any half-way considerable amount in Bitcoins. I lost about 50 Bitcoins back then and at ten bucks a piece, why would one even bother to still care for 500 bucks so many years later?! I understand some of the claimants are owed hundreds or thousands of bitcoins. Everyone probably went long on with their lives...

I found this interesting, as well.  Impossible to get anything else from the liquidators, though, at this point.

So the 9th liquidators report is interesting.  
Claims against Bitcoinica are: 91,300 BTC
$248,000 cash
$276,000 leveraged trading positions (hmm, I wonder if they are ignoring people with negative trading positions?  Maybe not a big deal as they were probably 1/10th of this amount)

But the MtGox trustee values the claims at $6.8 million (USD)!

The bitcoins were only worth around $10 when Bitcoinica went bankrupt, so this claim is equal to all the cash ($524k) and roughly 6.3 million left over for 91k bitcoins - or $690/bitcoin.

If the liquidation ever goes through, it looks like the NZ liquidators will get a sizable amount of money.

This $690/bitcoin is also a major increase from the previously announced value of $483.  So either they changed the Bitcoin valuation or Bitcoinica had a sizable number of bitcoins on the exchange that weren't subject to claims.  Maybe this is best explained by the leveraged trading positions!  As those trading positions should have been backed by purchases of bitcoins.  

If you take $6.8 million, subtract the $250k cash.  You have $6.55 million.  Divide by $483 - and you get 135,600 BTC.  So it is possible that the open positions were equal to 44,300 BTC long (and you have to remember that back then they were only worth $10 - so it wasn't as crazy as this would be now).  That makes more sense than the liquidators changing their valuation of BTC. If they changed their valuation all the time based on market conditions, they'd never be able to liquidate.

I wonder how their going to handle open leveraged positions.

Wow.  Has anyone been contacted by PKF?  Looks like we will get at least 'something' back.

Mtgox denied the access to that funds since 2012

So Bitcoinica had 65K BTC at MtGox in 2014??

Good news

https://www.reddit.com/r/Bitcoin/comments/4lbvm7/bitcoinica_claim_of_64532_btc_and_135k_accepted/