I have talked to James.
I can give you guys a small unofficial update.
James can't reveal any details until the official statement, but he says the coins are fine and that there has been no hack or bug.
He also hinted upon legal issues, which leads me to believe that the reason GLBSE was taken down was due to legal issues probably SEC or something similar.
//DeaDTerra
Thanks for the update! This is looking very bad though. This could take many months to solve.
Bitcoin should be worth at least 100$ each on entertainment value alone...
The SEC or some of entity probably cracked down or threatened to.
Besides the fact that they have been randomly delisting stocks with no notice to shareholders, there are people hunting pirate right now and a bunch of other scams & bs that GLBSE was very laisse faire about. Technically that makes them and their owners complicit in fraud.
However my feeling is that they weren't shut down per se, merely advised to shutdown, probably by their attorney, until a determination of legality could be made and a course of action could be taken.
Protip guys, don't start a business like this without first hiring a lawyer who specializes in finance & securities law, period.
At the moment they probably have a forward going safe harbor under the jobs act. However prior to the enactment of that they are very likely to be found as having operated a broker/dealer without a license. Unfortunately that's the type of thing that prevents you from ever getting one.
