Topic: MtGox withdrawal delays [Gathering] - page 76. (Read 908727 times)

No probs! Tips to 1F7LcPHWMwmJeGvaaBdsubGehhqccoZcjX



This really hits the nail on the head. If he were Japanese this would be considered an enormous 'FUCK YOU' by their standards of public apologies.　He barely bows, he doesn't lower hいs head, and he doesn’t hold it for long. Does anyone know if the dude actually speaks decent japanese? He seemed to be responding to the media's questions in japanese but he made what sounded like some pretty obvious mistakes as well (see transcript)

I think what makes it really hard when trying to work out what is possible and what is not is 1 particular variable above all others.

Marks competence.

Its throwing a lot of logical debate all over the place and giving otherwise crazy conspiracy theory's time in the sun.

that wouldnt happen over years / 750k btc without one feedback from the community

+1

Thank you for doing that.

Well ... actually it should be a very straight forward, simple thing for them to prove the fraud/theft
There would be 700k worth of BTC transactions that are duplicate of transactions around the same time as each.

i.e. for each fraud/theft transaction to an address of an amount X
There should be another (1 or more) transaction(s) soon after it to the same address of the same amount X ...

Of course, the cause could also simply be that they are retards and their system simply sent the 2nd transaction after it 'thought' the first one failed ... so there was no fraud/theft, it was simply a crap system sending BTC to people multiple times.

Cause he and cronies still wanted to sell those BTC and withdraw to the caymans....so he unluckily

couldn´t halt trading just yet.....may I remind you modestly...I told ya so

That's the Western fashion now. To say "I take full responsibility for what happened." and not do anything more.

700K btc vanish without trace from a cold wallet ? How is that possible ?

a)   Until they prove innocent MT.GOX is the main suspect of an eventual fraud/theft.
b)   Now imagine how save is costumers id if they can’t even  protect btc.

Gox leaks become worst every day , I’m really surprised how btc market price is doing so well to something like this  !!!

he cant he is the main owner and has the keys

Thanks.

It looks like someone coached him through a traditional formal apology. But it wasn't followed by any atonement. He didn't even resign.

Another thing: They updated their hardware in 2012 I think, and they explicitly stated that they had a mirror running in parallel as backup and for update testing. That system should be in place still, so any rumours about lost records should not be taken seriously. Specs and pics of the hardware are around.

Pending withdrawals could be on another system, I don't know.

The question is if Bitcoin is valued under Japanese law or they only are liable for cash balances. Then being registered in Japan is clever. But the Bitcoins was mentioned as a loss, so I think they will get some asserted value if this goes to liquidation.

It was his press conference, no hand cuffs. So when the law speaks, and it will if he called the Japanese cyber cops himself, they might have a completely different view of what happened.

Full bankruptcy seems totally inevitable. If those leaked documents are true Gox is considering customer funds as assets, which is completely ridiculous, as they shouldn't even be in their balances as MtGox is not a bank but an exchange. If the numbers on those documents are true then the assets of Gox are near 0, they just have a database with the IDs of 1M infuriated customers and a brand which is destroyed.

Plus, a debt of +700k coins is so unbelievably huge that NOBODY would pay a single penny for Gox if that is true.

I wouldn't buy a single Goxcoin above 0.05,and even at that price I wouldn't risk more than a few play BTC. Chances are the ship has sinked for good.

That is a standard practice but bigger issue is when and why they did not disclose that soon.

Need to wait for internal auditors to determine if BTC was actually stolen by another party or whether Mt.Gox itself stole the BTC.   Very big difference.

As mt gox customer service always end their correspondence~  SORRY FOR THE INCONVENIENCE

I wrote a transcript of the Japanese news item on Gox:

Presenter:
インタネット上の仮想通貨ビットコインの取引を停止した東京のマウントゴックスの代表が先ほど会見し謝罪しました

Mark Karpeles:
申し訳ありませんでした。(This is what the show's caption says - if it's what Mark says then he pronounced it HORRIBLY - sounds like he says moshiwake oi arimashita)
システムに弱いところがあってビットコインがいなくなって、（まあ）、皆に結果で「あの～ま」ご迷惑をおかけてしまって「あのー」本当に申し訳ありませんと思います。(He also seems to use iru instead of aru here - which is weird as iru is only for animate objects. Mark may just have been very nervous, but it seems like his Japanese is not too crash hot.)

Presenter:
マークカペレス代表はマウントゴックスが３０億円近い債務超過きょう付け東京地裁に民事再生手続開始を申し立てと明らかにしました。また、不正アクセスにより、違法にビットコインが引き出された可能性があるとして、刑事告訴う検討してることです


And translated it.

Presenter:
The representative of Tokyo's Mount Gox, which has halted withdrawals of internet virtual currency Bitcoin, has just given an interview and apology.

Mark K:
It is inexcusable (formal way of apologizing in Japan).
The system had a weak point, and the bitcoin disappeared (lit. "became not there"). We have caused a great deal of trouble (again this is a canned formal apology phrase used frequently in Japanese) and are truly sorry (again this is the 'it is inexcusable' construct).

Presenter:
Today CEO Mark Karpeles revealed that with close to 3,000,000,000 yen in excess liabilities, Mount Gox has filed for civil rehabilitation proceedings. As there is the possibility that Bitcoin were withdrawen illegally via unauthorized access, filing of a criminal complaint is under consideration.

Who got the last reported Sepa - withdrawl of MT. Gox for putting up in the hall of fame?

S T U R L E ?

Yep... apparently. Unless one of those theories like the one about the 200K BTC on accounts used on the 2011 showoff prove to be right, or who knows what.

Until Mtgox publish (at least to those legitimate parties) its detailed internal accounting, including the list of all the cold wallet addresses used over all these years, we won't know for sure.

being Japan, I can imagine they woud want to give the struggling company a chance to prove itself by paying back as much as it can, however, I doubt very much that they will be able to accomplish this and I am 99% sure that full bankruptcy is imminent for gox. sadly.