MtGox has played things very tight to their chest so far. When bitcoin withdraws were banned the CEO made a couple of references to no bitcoins being stolen, but then it was never mentioned again until the plug got pulled today. I posted my opinion soon after the Gox bitcoin ban that I believed they were still tallying up the stolen bitcoins and had no idea how many there were.
The figure being thrown about (750k bitcoins) is quite frankly staggering. If it's anywhere near true it's like a bank vault being slowly emptied over many months with no staff member ever wandering in and checking if anything is still there.
Topic: MtGox bankruptcy is one thing but how it happend is just mindboggling (Read 1612 times)
February 25, 2014, 06:44:17 AM
February 25, 2014, 06:39:16 AM
Slack security is a brand of MtGox. My password, along with so many others, ended up around the web with their first leak. And what did we found then?
They store passwords with the "really safe" algorithm md5(password)!
No wonder they'd no audit systems and it turns to be more strange they lasted all this long than anything else.
They store passwords with the "really safe" algorithm md5(password)!
No wonder they'd no audit systems and it turns to be more strange they lasted all this long than anything else.
February 25, 2014, 06:33:47 AM
If the allegations are true and if someone managed to steal anywhere near as many bitcoins as is claimed from MtGox, they really have no excuse. At best it could be described as criminally negligent to just not bother checking your bitcoin stock. I personally doubt the story as MtGox's failed transaction problem was a recent phenomenon, and not something that people were complaining about in early 2012.
February 25, 2014, 06:26:09 AM
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie
Being the first place people hear the news.
That's a big deal for media outfits.
(but Pravda never had to worry about that…)
That would explain not checking the facts - but not a lie.
Oh, the "lie" is just some immature hoaxer who cooked up a phony set of slides.
I thought we were talking about Wired, not the hoaxer.
Anyway it seems that the story is confirmed now
Actually just the opposite.
And how do you know its a hoaxer?
It could be that the same way he can't prove its real, you can't prove its not real. If everyone says gox is so incompetent and that's the excuse - why couldnt this retarded slide be directly from gox? I think it could ,if i believe they're incompetent, but i don't actually believe that. So i might agree with you its a hoaxer, if you agree with the fact that gox is either a fraud or ? no other option.... They're NOT incompetent ,that we agreed upon. So which is it?
February 25, 2014, 06:22:41 AM
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie
Being the first place people hear the news.
That's a big deal for media outfits.
(but Pravda never had to worry about that…)
That would explain not checking the facts - but not a lie.
Oh, the "lie" is just some immature hoaxer who cooked up a phony set of slides.
I thought we were talking about Wired, not the hoaxer.
Anyway it seems that the story is confirmed now
Actually just the opposite.
February 25, 2014, 06:09:41 AM
Do you believe everything you read in the press?
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie and they can lose much.
I have been on the internet for some time - I know that people don't check the facts - but I still trust wired fact checking more than T.Stuart from bitcointalk
And by they way: https://news.ycombinator.com/item?id=7294762 - not much - but it gets a bit more credible for me now.
WIRED MAGAZINE SAYS 'ALLEGED'... doh!
But according to the alleged Mt. Gox document, the bitcoin world faces even bigger problems that the loss of these two men. “This could be the end of bitcoin,” the document reads, “at least for most of the public.”
MtGox Situation: Crisis Strategy Draft by twobitidiot
February 25, 2014, 06:05:32 AM
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie
Being the first place people hear the news.
That's a big deal for media outfits.
(but Pravda never had to worry about that…)
That would explain not checking the facts - but not a lie.
Anyway it seems that the story is confirmed now and the question that remains is how on Earth for two years MtGox did not check how many bitcoins they have?
February 25, 2014, 05:50:04 AM
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie
Being the first place people hear the news.
That's a big deal for media outfits.
(but Pravda never had to worry about that…)
February 25, 2014, 05:11:38 AM
Do you believe everything you read in the press?
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie and they can lose much.
I have been on the internet for some time - I know that people don't check the facts - but I still trust wired fact checking more than T.Stuart from bitcointalk
And by they way: https://news.ycombinator.com/item?id=7294762 - not much - but it gets a bit more credible for me now.
I read that apparently it was already even confirmed by the NY Times!
Seriously though, as a native English-speaker and someone who has worked with accounts, written feasibility studies, etc., the document appears so amateurish that I cannot believe any company, auditor... or even Mark Karpeles himself, could write such a thing (if it is genuinely meant to be a proposal for re-launching Gox).
February 25, 2014, 05:07:03 AM
Do you believe everything you read in the press?
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie and they can lose much.
I have been on the internet for some time - I know that people don't check the facts - but I still trust wired fact checking more than T.Stuart from bitcointalk
And by they way: https://news.ycombinator.com/item?id=7294762 - not much - but it gets a bit more credible for me now.
February 25, 2014, 04:42:30 AM
Do you believe everything you read in the press?
February 25, 2014, 04:12:22 AM
Hmm - so wired did not check it before publishing?
Here it is in wired: http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/
Here it is in wired: http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/
February 25, 2014, 04:04:50 AM
For 2 years they have never checked their bitcoin assets
!!!
Can we ask other exchanges to do audits?
!!!Can we ask other exchanges to do audits?
Where did you find that info? From the "crisis document" circulating at the moment? That must be the most obvious fake I've ever seen!
That said unfortunately there is no good reason to believe anyone is getting anything back from Gox.
February 25, 2014, 03:52:19 AM
For 2 years they have never checked their bitcoin assets???!!!
Can we ask other exchanges to do audits?
Can we ask other exchanges to do audits?
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