Where All The Money Went?

H

Hybrid Ambassador

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Tokyo yesterday, seen and heard the head honcho of Mount Gox going in public and annoucing chapter 7 bankruptcy. He said, apparently we had a hole in our server and very weak protection! We noticed a breach around the 1st week of February.

The value ( can not use phrase in here ) of lost loot, was over 7 million objects of total, more than million value was property of the comapny plus cash in US$ of over 25 M....

My friend there in Tokyo want to hear more explanation from the CEO but somehow his press interview were conducted in his poor managed Japanese language and no English were used ever?

So if they knew that its server was breached, why in hell they did not warned the authorities? Did the commie china's capable cyber-gang pulled the heist?

So where are the more than 7 million value right now.? Anyone in the know?
 
Could also be a solid exit strategy: MtGox was losing relevance as an exchange anyway, so why not invent a hacker, take the coins and sell them and get yourself a nice new caribbean island with the fitting airplane to get to it ;)
 
There's is going to be a whole bunch of "I told ya so" coming this way.
 
actually some people did some back tracing from 2011 where the ceo transferred 500k ish dunning krugerrands around the blockchain to prove they hadn't lost any after the hack before this "hack".

they reckon there is at least 150k+ sitting around unmoved since 2011 which should still be under control of Mount Gox unless they lost the private key (in which case they are lost forever). :lol:


EbYgqtj.jpg


unregulated money markets based on a whitepaper written to try and solve a couple of minor problems like double spending etc,,,,

They should have listened to the guy who wrote that whitepaper..... :lol:

https://bitcointalk....g26999#msg26999
Satoshi said:
No, don't "bring it on".

The project needs to grow gradually so the software can be strengthened along the way.

I make this appeal to WikiLeaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.
Click to expand...
 
So do you guys thinking this CEO's statement saying he too lost everything is a hoax and charade ?
Oh men if i was my friend...Have many known acquiatance now big exec in the "yakuza" business that
can really take care of this guy! But he has "cojones" he's saying to the media, I really need new
entrepreneuring financier to bring this company back to his feet !
 
Hybrid Ambassador said:
So do you guys thinking this CEO's statement saying he too lost everything is a hoax and charade ?
Oh men if i was my friend...Have many known acquiatance now big exec in the "yakuza" business that
can really take care of this guy! But he has "cojones" he's saying to the media, I really need new
entrepreneuring financier to bring this company back to his feet !
Click to expand...

i personally suspect they have similar problems a small polish exchange had in 2011
http://siliconangle.com/blog/2011/08/01/third-largest-bitcoin-exchange-bitomat-lost-their-wallet-over-17000-bitcoins-missing/

incompetence

The magic card site was hosted on amazon too, I've read reports that they had a terrible development process and worked directly on the live server. Quite easy for them to not keep a backup of a private key on one of their servers, or accidental delete the server that had the key.

The joys of investing your life savings in unregulated financial centres. :lol:
 
>The joys of investing your life savings in unregulated financial centres. :lol: <

Yes, but people seems trusting this : unregulated void :
 
Hybrid Ambassador said:
>The joys of investing your life savings in unregulated financial centres. :lol: <

Yes, but people seems trusting this : unregulated void :
Click to expand...
People are stupid and fall for get rich quick ponzi / pyramid schemes all the time :lol:
 
What do you mean investing your Dunning-Krugerrands in unregulated exchanges, programmed by "fuck you got mine" man children in their parents basements with no experience in designing secure financial websites, is a bad idea.

http://flexcoin.com/index.html
https://twitter.com/Poloniex/status/440734781689446400

:lol:
 
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