Gox

[Lodewijk andré de la porte]

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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