Topic: MtGox withdrawal delays [Gathering] - page 89. (Read 908607 times)

That conversation could easily be faked. The person claiming to interview Mark is formerly accused of fraud, and he's also all about clicks. So this might just be a way for him to draw attention to his forum ?

Obviously a Ponzi scheme at this point. People panicked made a run on the bank ponzi scheme exposed. See you on American greed show even if you are a frenchie Mark

in this

www.foxbusiness.com/markets/2014/02/25/mt-gox-ceo-says-on-internet-chat-hasnt-given-up/

he seems to confirm the document


so where is our money and btc???

The leaked doc is crazy. It would be astonishing if they really had a hole of $22M in customers fiat funds, where did all that money go?

According to the "leaked" document:

At this point 744,408 BTC are missing due to malleability-related theft which went
unnoticed for several years. The cold storage has been wiped out due to a leak in the hot
wallet.

Bitcoins:
Assets: 2,000 BTC
Liabilities: 624,408 BTC(Customers) +120 000 ( MtGox) - 80 208 BTC (banned/suspicious accounts)

Fiat:
Assets: 22,430,000 USD in bank + 5,000,000 Coinlab + 5,000,000 DHS
Liabilities: 55,000,000 USD (but still unclear)

Total Assets: 32,430,000 USD + 2,000 BTC
Total Liabilities: 55,000,000 USD + 744,408 BTC


So basically, there is a deficit of 744,408 BTC and $22 million+ (assuming unrealistically that the $5 million being held each by Coinlab and DHS will be returned to Mt. Gox customers)

If you're running Mt. Gox and are honest, kind of hard not to notice that 744,408 BTC is missing and that you owe your customers over $32 million+ and not say anything?

Wasn't there a post in which (Roger Ver?) supposedly examined Mt. Gox's books only a couple of months ago and even he wanted to buy insider Mt. Gox bitcoin at a slight discount? Please correct me if I'm wrong, but he is very well respected so perhaps he was shown fake balance records?

If the 744,408 was stolen suddenly, it would be easy to trace. But it was most likely siphoned off incrementally over time making it harder to trace. The missing fiat is still puzzling.

"Wait n see" is the only sure fact I can get from the today situation.

This rebranding strategy, potential investissor, new CEO, hack, internal job and so on... I guess we will be fixed in some days/weeks.

Still, one thing seems to be really unbelievable to me : How can you have around 700 000BTC
- took from a COLD wallet,
- without seeing it,
- without stoping this BEFORE ?

Seriously its around 6% of all bitcoins nowadays...

Let's hope we are wrong and they get back to operations.
Maybe the bitcoins stolen were not that much and Mtgox can be sold to a more credible party and we keep our coins... even with a 30-40% cut, which is kind of acceptable, not more.

Best regards,
ilpirata79

In sept 2013, they did auditing and had perfect control, when countersuing coinlab. Claim of attacker emptying cold wallet over several years is thus most likely false.

It really begs belief that Mt. Gox's cold wallet was completely emptied out all of a sudden? And if it has been emptied out over the years due to "malleability issues" and "double-spends", wouldn't you think that Mark would have noticed the rapidly (and mysteriously) declining cold wallet balance? So he decides to wait until now (after the media storm) for the perfect opportunity to "announce" that the cold wallet is completely empty. How long has he known this? At the very least, he has been dishonest with his customers for the past year of Mt. Gox operations.

Right, I had a part of my bitcoin stash there. I was just trusting the oldest and most used bitcoin exchange.
I could have never imaged that they were so incompetent to let others steal coins even if they used cold storage.

This is insane.

I start thinking that this has been an inside job.

Best regards,
ilpirata79

I think this is not correct. The point is that you bought a goods and you own that goods. And you can see it with the  regular order number.

If that's the case I think the Internet is savvy enough to trace it back to Mark.

A friend of mine was running an international software startup many years ago that had distributor relationships with all of the major country markets worldwide and he found out that the french distributors were scheming to double-cross him behind his back with their own product after a lengthy and supposedly trustful relationship. Nothing wrong with honest competition, but they turned out to be the only dishonest (french) distributor group from all of the various distributor relationships worldwide.

Perhaps the fact that Karpeles is french should not be held against him for this particular unrelated incident. But one cannot overlook the fact that perhaps this "leaked" document is part of a very carefully orchestrated strategy to shift blame away from Mark - thus effectively allowing him to pull off the biggest scam in bitcoin history. He knows that he is viewed as incompetent - which gives him the perfect cover excuse with the general media. Incompetence does not imply the lack of extreme self-serving cunning...

If he is stupid enough to believe that a new reincarnation as "Gox.com" will survive, then anyone stupid enough to deposit funds with the new site (regardless of what the new management team will be) when it launches (supposedly next month) deserves to lose their funds in the future.

Those who do not learn the lessons of history are doomed to repeat it again...

I think this clip from Animal house puts it perfectly:

http://youtu.be/-glKGjp50Ug?t=26s

We need to meet in Vegas at Defcon and start drinking heavily...

This needs to be repeated again and again.

If one does not control the private keys, one has no bitcoin.

The weird thing is did you ever have bitcoins there? Bitcoins are things where you have the private key to unique solutions on the blockchain. Without the key you didn't. have. coins.

If you did you should be able to access them now.

This is pedantic, but I think the problem is not Bitcoin it's that someone made a fiat system aside bitcoin. That fiat system collapsed.

I'm really thinking about this one, and its ramifications. Complex problem.

Nishimura & Asahi is the biggest law firm in Japan. So Saito, an attorney there, is following the Mt. Gox situation and was quoted in the Wall Street Journal about it a few days ago.

I need a japanese layer... do you know one?

Best regards,
ilpirata79

I want at least 50% of my bitcoins kept there..
Otherwise I am going to get really upset!

Best regards,
ilpirata79

yeah, that part I agree with 100%, no questions there,

my question would be why there need to be a new exchange built on the remaining of this? (called Gox, how stupid is that?) it will not help the community for sure, media will be all over it again.

all assets should be seized and distributed between the creditors and literally people in charge sent to prison, that would make the bitcoin in general much safer, would not send out a message that anyone can set up an exchange and loose a lot of money without any penalty.

at least my 2c

and to be honest, based on previous experiences in the banking sector, there will be no refunds for the money lost, sad but true
see any bankrupt financial organisation, if you get 5% out 5 for $1 you can consider yourself lucky.