Ugh the claims process is so drawn out lol. Gonna be mid 2015 at the earliest before we start seeing some partial reimbursement.
It could happen earlier in the event GOX is sold to a 3rd party.
Topic: So whatever happened with Mt. Gox? (Read 2500 times)
sr. member
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It could happen earlier in the event GOX is sold to a 3rd party.
It went to bust.
Mark Karpeles committed fraud and claimed hack.
It went to bust.
Ugh the claims process is so drawn out lol. Gonna be mid 2015 at the earliest before we start seeing some partial reimbursement.
C'mon guys Mt.Gox is already dead this topic should be closed
Yea, Mt. Gox was one of those places that even non-crypto currency persons may have come across or at least heard of. Don't think they'll be able to make a come back with all the negative press that came out on them.
Yeah a lot of the uninformed public thought that Mt.Gox = bitcoin. And when Mt.Gox went down that meant that bitcoin was over. It was fairly big news when they lost the half a billion dollars worth of bitcoin or whatever it was.
I think using the same name in the future if another company took over the company would be a big mistake.
Yea, Mt. Gox was one of those places that even non-crypto currency persons may have come across or at least heard of. Don't think they'll be able to make a come back with all the negative press that came out on them.
If a third party were to buy the company/site/name then they could do something good with it.
They would need to prove their security, competence and internal controls but it could happen.
In the days before it was "public" that gox had failed there was a leaked document that said one of GOX's assets was it massive user base, KYC'ed customer base and trading platform.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
It won't surprise me if this is true.
Certainly won't be the 1st broker to use customer's money to gamble.
This would make sense.
In fact, anything makes sense except the "we were robbed" story.
I simply don't believe that they didn't have the keys in cold storage.
I think that the management was simply incompetent. They had zero internal controls.
Well everyone has known that Mt.Gox was incompetent since early 2011.
I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.
This may be true but they were not aware of the level of incompetence. If people knew of the level of lack of internet controls a lot of people would probably not have trusted their BTC and cash money with them.
I think I remember reading something about the bankruptcy trustee doing an investigation as to what happened.
Yea, Mt. Gox was one of those places that even non-crypto currency persons may have come across or at least heard of. Don't think they'll be able to make a come back with all the negative press that came out on them.
Well everyone has known that Mt.Gox was incompetent since early 2011.
I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.
I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.
Yes, but most people are not aware Mt gox also steal from customer beside being incompetent.
That is very true. People did trust Mt.Gox.
Well everyone has known that Mt.Gox was incompetent since early 2011.
I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.
I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.
Yes, but most people are not aware Mt gox also steal from customer beside being incompetent.
there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
It won't surprise me if this is true.
Certainly won't be the 1st broker to use customer's money to gamble.
This would make sense.
In fact, anything makes sense except the "we were robbed" story.
I simply don't believe that they didn't have the keys in cold storage.
I think that the management was simply incompetent. They had zero internal controls.
Well everyone has known that Mt.Gox was incompetent since early 2011.
I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
It won't surprise me if this is true.
Certainly won't be the 1st broker to use customer's money to gamble.
This would make sense.
In fact, anything makes sense except the "we were robbed" story.
I simply don't believe that they didn't have the keys in cold storage.
I think that the management was simply incompetent. They had zero internal controls.
Been away from the computer for a while. I was wandering what was the final fate of Mt. Gox? Last time I checked, it had crashed, and no one thought they would get their money back. But there was rumors that people might get back a percentage back or something.
So any updates? Anyone get arrested or sued? And do we know for sure now that it was hackers? A lot of people were speculating that the exec's over there just took the money and ran.
So any updates? Anyone get arrested or sued? And do we know for sure now that it was hackers? A lot of people were speculating that the exec's over there just took the money and ran.
There have been no arrests (not that there shouldn't have been).
Gox filed for bk in Japan, as well as in the US.
The last I saw they are liquidating, however a number of groups have made offers to continue running the company.
Long story short, they lost 650k of 850k of their coins and around 25% of their fiat. They originally lost all of their BTC, but subsequently found 200K BTC.
Has there been any more information on how they 'lost' all that btc? I remember Karpeles was spewing some bullshit about transaction malleability but that sounds like complete bullshit.
Malieability is the latest "explanation" that I have read/heard. There was an article that starting at a certain time (I believe it was in 2011) there have been much too few "mutated" transactions to possibly steal that many coins from Gox.
It is possible they lost the coins due to malieability prior to the above study when coins were worth much less then they are now.
I assume that Gox had previously under-reported the number of coins that were stolen/lost in previous attacks.
A major factor in the fall of Gox was likely the dramatic rise in the price of BTC. If the price was $800 it would take more in terms of dollars to recover any lost coins then it would if the price of BTC was back at $10 (they need to do 80x as much trading to recover the same amount of BTC).
there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
It won't surprise me if this is true.
Certainly won't be the 1st broker to use customer's money to gamble.
This would make sense.
In fact, anything makes sense except the "we were robbed" story.
I simply don't believe that they didn't have the keys in cold storage.
Mtgox went busted and claimed hacked.
there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
It won't surprise me if this is true.
Certainly won't be the 1st broker to use customer's money to gamble.
there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
The last rumor I had read is that Karpeles believes the bitcoins were stolen during the summer of 2013, but there's nothing official.
OTOH he could have stolen them himself and just pretends someone else is to blame. We'll probably know the truth in a couple of years.
OTOH he could have stolen them himself and just pretends someone else is to blame. We'll probably know the truth in a couple of years.
If he doesn't get bumped off in the mean time...
The last rumor I had read is that Karpeles believes the bitcoins were stolen during the summer of 2013, but there's nothing official.
OTOH he could have stolen them himself and just pretends someone else is to blame. We'll probably know the truth in a couple of years.
OTOH he could have stolen them himself and just pretends someone else is to blame. We'll probably know the truth in a couple of years.
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