Topic: Making it public: I have moved the disputed 643.2771 BTC into an escrow account - page 4. (Read 17042 times)

Escrew was a good move, in one month we will hopefully know all details. But right now I'm leading towards pay back, I can't find a scenario were buying at 0.05 while other markets sell at around 17 is legit...

This is a sensible thing to do while the dust settles and gives MTGOX time to make a full and truthful disclosure.  Frankly they have not shown themselves trustworthy enough at this point to be sure they would return the coins to their proper owners.  I would have said 'hand them' back if it were clear that were the case but if GOX had accused me of colluding with the hacker and I was innocent I would have done the same as Kevin.

Oh look, it's THIS thread again. Gonna repeat myself.

-> accident (account intrusion)
-> abnormal market (all open bids fulfilled by selling of the stolen coins)
-> transactions not legit
-> hand the withdrawed coins back

Why do you speak lies?  Ever heard of the flash crash?  Trades are backed out all the time on global exchanges.  You are ignorant and uneducated.

Donate money to my address. I will gladly take over all responsibility 

I am not sure MTGox has learned to be transparent, yet. Still, I understand the heavy load you are carrying right now, Kevin. As a solution, I would sacrifice myself to take them. Just send em to me once they get out of clearcoin 

to be serious: make sure they will not go after you, then donate some of the money to amnesty or an organisation of your choice and live happily ever after.

Don't drop the soap 

I'm not totally sure I know all the details in this case, but according to Swedish law (IIRC) buying something in good faith doesn't give you possession of what you bought, in case it was previously stolen.

For example, if someone comes to you and offers to sell you diamonds at a discounted price, and you buy, that doesn't mean you can keep them if it turns out they were stolen in the first place.

In this case, if I have understood this correctly, it means:

1. You did nothing wrong
2. You have to give the BTCs back to the original owner

I also think MtGox should reimburse you the money you paid for the BTC, but I'm not sure about the legal case here. In any case, it would be the only decent thing to do.

Putting the BTCs in escrow looks like an OK move right now, but I would just have handed them back right away.

Well, I don't know other country's laws that well, but here in germany the transactions would be invalid.
MtGox would have no choice and has to do a rollback.

Would love to hear any info from MtGox on this.  One account compromised?  With 500k BTC?  Is that the truth?

I am think that MG can do rollback. But also, i am think they can not await that somebody, will return them already withdrawn funds, - it is just stupid. It will be disappointing, if Kevin will do such a thing. MG should suffer.

You're a class act Kevin, you've been totally honest this whole time and now you've put this up to prove it. You're clearly ten times the man that MagicalTux is, the lying sack of shit who fucked us all over.

Although I am new to the community and been only a Bitcoin follower and trader for a week now I have analyzed and studied many articles and papers about Bitcoin. I follow the market closely and I have ready dozens of articles, threads, and comments relating to the Mt. Gox incident. As a web developer and using my logic my personal opinion is that Mt. Gox fucked up big time when we look at their website security and how they are handling this. Although we can't verify if the account with the 500k Bitcoins really existed or not does not matter when you look at the dispute between Mt. Gox and Kevin.

So far Kevin has done nothing wrong, just like anyone would do in this situation and tried to buy as many Bitcoins as possible for .01 cents and than tried to withdraw them as fast as possible before the market and Mt. Gox crashed. If I had 3000 dollars on my Mt. Gox account I would have done the same freaking thing. Some people argue that it's impossible that Kevin was able to place a bid after the hacking started as the website was to laggy or down. This is different for every PC and totally depends on the connection, DNS, location, server, etc. A website may be down or slower for someone than for someone else.

If is telling the truth I believe that he should be allowed to keep the Bitcoins he legally bought even if the account with the 500k Bitcoins was hacked. In a real exchange the same thing would happen. An exchange cant revert hours of trades back just because one account got hacked. No matter how much money there is on it. If Mt. Gox reverts all the traders because of this than I want to see them do the same thing when my account gets hacked and my 10 Bitcoins get sold.

All said and done this seems a good move. I applaud you.

MtGox already publicly said they wouldn't pursue you for the BTC you withdrew, but your account would be in negative balance. You should have just kept them

Correct. I can't just run off with it now, sell it or anything like that. If the coins are actually "stolen" and it's even possible for them to be considered "stolen" in a case like this, they're being held by an uninterested third party right now. I want everyone to move past this point so we can figure out what really happened in the much larger picture. Whose account actually was compromised and why, how we are going to proceed, etc.

I am heading over to the Bitcoin faceut with my sleeping bag and camp stove (and my 600 Gmail accounts).

 

Yeah, seems about right.

Lemme see if i got this right:

With number one the money, stolen or otherwise, gets sent to charity.

With number two the money automaticly goes back to your wallet and whoever has access to it will have the choice of what to do with them


And with number 3, if all clears out, one month from now the money gets returned to the rightful owner whoever that is.



Is that it?

...more like colombian cocaine and hookers, but I digress...