Topic: [Payout Updates] Bitcoinica site is taken offline for security investigation - page 76. (Read 156711 times)

Got physical proof they have the money? ALL of the money?

Show us. Until then, it's just a story that keeps dragging out, and with every market shift, gets worse for the customers, and becomes more unlikely that they'll get anything back at all.

At this point my only question is why hasn't the whole Bitcoinica crew been given a scammer tag?
Seems like it's very appropriate considering...

#1 - They claim to have the database, but to the best of my knowledge not 1 single person has received a refund.
#2 - After the supposed break in (yes I'm convinced that they weren't really broken into), they did not bother notifying authorities.
#3 - They originally claimed that the hot wallet had very few funds in it as a percentage portion of assets and yet there have been "company" reps saying the supposed silent investor has had to chip in because this rendered them insolvent?  Too many conflicting claims about their status.
#4 - A few days after the break in, the supposed hacker appeared in IRC and was tossing the stolen bitcoins left and right.
#5 - The "silence is golden" non-responses we've been given are not indicative of people acting on the up and up.

I'm convinced at this point that it's a line of BS and I just don't buy it anymore.

What I believe is the insolvency happened first (I never saw a cent in purported interest and the "break in" corresponded with the day I emailed them about it).  
There are very good odds that the break in was probably staged, the things they are claiming, such as a compromised email led to stolen coins and deletion of all customer data, really are too big a "screw up" especially after the last one.

They ought to get the scammer tag until every last cent has been returned.

As for the refund process, I've heard absolutely NOTHING from them relevant to my refund except an email asking me to verify my address which I did.
Has anyone else heard anything more?

Because of this I nominate everyone associated with Bitcoinica's spectacular crash & burn for a scammer tag.

*Message to Bitcoinica*
At this point Bitcoinica and everyone associated with their refund process, you have 5 days until I bring civil and criminal charges against you.  I'm sure others will join me, you will pay fines, you will go to jail if you don't start refunding now.  The corporate veil you are trying to hide behind does not protect you against criminal charges such as malfeasance, breach of fiduciary duty and embezzlement.  Look it up, you'll find I'm correct.  30 days without access to my funds and no word on your part except vague promises on a forum not related to your company, indicates all of those and is enough for any attorney to begin pressing charges.

I filed a claim the same day the claims form opened up.
You had my AML details already including a scan of my Drivers License, my account was Isis101, my wallet ID was 1PSQ4tWY4pTcAbgKozPXAWB9B8Cg4JCVMP
At the time of the alleged break in there was 21 BTC in my account, and $2.30USD.
Since the account was funded primarily with funds from mtgox, here is relevant mtgox history.

2012/05/02 22:08:09    Withdraw       5.04000000 BTC    0.00050275 BTC
Bitcoin withdraw to 1PSQ4tWY4pTcAbgKozPXAWB9B8Cg4JCVMP
2012/04/24 21:06:36    Withdraw       8.00000000 BTC    0.98840275 BTC
Bitcoin withdraw to 1PSQ4tWY4pTcAbgKozPXAWB9B8Cg4JCVMP
2012/04/24 21:06:02    Withdraw       8.00000000 BTC    8.98840275 BTC
Bitcoin withdraw to 1PSQ4tWY4pTcAbgKozPXAWB9B8Cg4JCVMP

This can also be verified by looking at blockchain explorer.

I request you return my BTC funds to the sending account 1K3xHb8R8E72i22Y8TqknXiey8zBa2JzLr
You can send certified funds for the $2.30 USD to the address on my Drivers License.

I know it sounds petty because It's not a lot of money, it's the principal of the thing.

***
I have edited this post to remove accusations against Zhou, after further research I determined that I was incorrect and he appears to just be caught up in something bigger than himself.  I apologize.  See https://bitcointalksearch.org/topic/m.952523 for specifics.  
***

Great. How does this affect the refund process? Will depositors get their money back or will Bitcoinica be tapping into these deposits to cover legal expenses?

Just wait for the hangover

Back on topic....
I find it difficult to believe that a single BTC has not been repayed as of yet.
What I find even more bizzare, is them still holding back USD, as it was a BTC theft and had nothing to do with other user's USD...
(or whatever currency they had at the time in their accounts).

I have a feeling this is going to get legally messy, resulting in the community's first legal precedent set after a confusing court battle.

I was worried they'd payout the ones they fear most legal trouble from and use the rest of the money for those they get in actual trouble with. Now, it seems my fears are unjustified. They don't pay out anyone. Actually, it could be they never intended to return anyone's deposits. All we see are stalling techniques.

Honestly, I begin to lose hope to ever see the coins again. Unbelievable Intersango is still in business. Really, I can't believe it.

Or that. Too much red wine. Can't think straight on my own language, much less in english

Bitcoinica did not listen.

They should have done this at day #1 or #2 of the hack to ensure an unforged database. Now it is too late to guarantee that.

And since they came out with the db loss before the claims were finished, the process is likely to be wholly fucked up with indistinguishable fake claims.

I for one will be very surprised if they manage to get out of this solvent:

a) People suing Bitcoinica because they claim not to have been reimbursed properly, or their position was liquidated
b) Bitcoinica paying out more than it actually owes since they cannot verify ownership to 100%
c) Price possibly getting more volatile so that the range they will liquidate people at will be greater

The greatest example (at times) of an oxymoron and paradox all rolled into 1...LOL
Common....yet not so.

common sense?

Epiphany ?

hmmm... I remember someone mentioning your lawyers in the other thread.
Wonder if it has something to do with this and the guy had a prophecy...

02 June 2012 21:26: The process is at an impasse because of some legal wrangling.

Oh boy, how I enjoy waiting! It is just so much fun to visit this thread every single day for little scraps of info to feed my slowly dwindling hope of ever seeing my deposits back. I just love wasting my money *and* my time. Thanks Bitcoinica! You sure know how to treat your customers right.

Translation: I am not amused. It has been 22 days since the hack. Nobody has seen a (bit)cent back AFAIK. You are sitting on ~$1 million of user deposits. An update would be in order.

Oh, and please don't use weasel words like 'soon'. Give us a date. When do the refunds start? When do the refunds end? Clear & Simple. Let's get this over with already.

Yeah saw that on "May 25,"  

We can assume you have it, but you don't.  That's recomforting.

According to this they might have something: https://bitcointalksearch.org/topic/m.922321

Yup, that's why this sucks. They have the money, but they don't know who it belongs to.

Indeed - any payouts yet then?

any progress?

I understood that the claims process would be a case of matching people to accounts?

But now wondering if Intersango/Bitcoinicca don't have any account info at all ! Is the claims process actually trying to recreate lost account info first based on the claims people file?

which case is it?

Thanks for all the help guys! Mail has been sent. Hopefully this will speedup the process of returning my funds.