Gox

[Cathal Garvey]

> The cold storage has been wiped out due to a leak in the hotwallet

Sort of implies that "cold wallet" meant "bot-controlled wallet that
could automatically refill 'hot-wallet'."

In other words, a second-layer hot-wallet.

Never assume malice for that which is equally explainable with stupidity.

On 25/02/14 03:35, Lodewijk andré de la porte wrote:
> MTGOX just started serving this:
> The requested page was not found on this server
> 
> 
> The cold storage has been wiped out due to a leak in the hotwallet
> 
> what?
> 
> 
> Sorry but you do check your total balance every so often.
> 
> I mean you do.
> 
> 
> "Injections in coin are most useful (enough to run the exchange) but some
> cash is also needed to not run a fractional reserve"
> 
> This is actually really decent news. Running a fractional reserve would be
> very tolerable. It's interesting they mention turning off trade for a
> month, that's quite a lot. And it might just have started right now.
> 
> 
> 744,408 were stolen
> but they have a liability of 624,408 BTC
> 
> Those numbers seem in the right order (if everything is kinda effed).
> 
> 
> "Coins for equity, coin donations, and cash injections to buy coins at the
> cheapMtGox price are some options among many."
> 
> I think I could do with some equity. But I wonder if it'd be a good deal,
> given their distinct lack of Bitcoin (according to this document).
> 
> 
> "To avoid a bank run from customers, the daily amount of bitcoin and
> cashwithdrawals will be limited."
> 
> Seems nobody got burned. Just for a while.
> 
> 
> Anyway. The question of how this happened is not really answered. "Poor
> Bitcoin accounting" is an understatement. Your hot wallet leaking is also
> not a very realistic thing, unless it was just a steady steal.
> 
> How can someone steal all the money and not be detected (by anyone)?
> 
> Can we somehow just revert the theft transactions? I'd at least like to
> know what happened to the coins. Who has them? Who goes to jail for it?
> 
> 
> 
> This is a pretty strange way for all this to turn out if you ask me. I
> wonder who didn't get burned.
> 
> 
> 2014-02-25 3:49 GMT+01:00 Rich Jones <rich at openwatch.net>:
>>
>> Alleged leaked doc from inside Mt. Gox:
> http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
>>
>> Nasty lookin', especially that assets and liabilities page! Although I
> don't understand how the theft could affect their cold storage.
>>
>> Soooooo.. who got burned?
>>
>> R
> 

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