crime

Mt Gox files for bankruptcy; CEO says 750,000 bitcoins gone

27 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© 2014 AFP

©2020 GPlusMedia Inc.

27 Comments
Login to comment

I'd be keeping a close eye on the people in charge, as this sounds all very suspect.

6 ( +8 / -2 )

Oh, sure, the coins are "gone"... into the guy's secret accounts! Come on. How dumb does he think we are?

9 ( +10 / -1 )

Karpeles stole it.

7 ( +8 / -1 )

I agree with you guys, and hence my comment on suspicion. I highly doubt if the guy had lost everything and hurt so many people he'd be tweeting that, "It's been a wild ride!". He's going to disappear after the press conference.

0 ( +5 / -5 )

While I realize the need for some kind of visual representation, I really wish the media would stop accompanying these articles/news reports with graphics of actual coins--the average (e.g. non-tech-savvy) consumer is confused enough as it is regarding the virtual currency without reinforcing the idea that some kind of physical money is involved.

18 ( +18 / -0 )

Maybe some of the larger financial institutions on the planet didn't want anyone else muscling in on their turf?

0 ( +0 / -0 )

Don't claim to be an expert on this, but I would refer folks to a blog written by somebody called two bit idiot over on Tumblr who seems to have broken the original story ( before the media). Over a series of posts, the chap in question raises a number of issues regarding the Mt Gox saga. One term that stuck out was the interpretation of "cold storage" of coins. Makes rather interesting.....

2 ( +2 / -0 )

Pure capitalism at work.

-4 ( +2 / -6 )

@smithinjapan "I highly doubt if the guy had lost everything and hurt so many people he'd be tweeting that, "It's been a wild ride!". He's going to disappear after the press conference."

Not quite sure I understand what you mean to say here but anyway I think this is a quote from Kolin Burges, not Karpeles. I think, well hope, Karpeles will stick around. It seems if he were going to fly the coop he would have done it before the press conference, not after. But who knows?

6 ( +6 / -0 )

@ Educator60

I think this is a quote from Kolin Burges, not Karpeles.

There's no "I think" about it. Anyone who can read can see that's a quote from Kolin Burges.

I would only be suspicious of embezzlement if the money was lost gradually. If all 870K coins were stolen in one act of hacking, I think one would naturally look to someone outside the company.

Very sorry for the people who lost big money here.

-3 ( +2 / -5 )

I think this is what happened with the first few banks and credit unions when they first opened up. Didn't the train that transferred money across the US get robbed regularly?

The internet is an amazing place to make yourself a millionaire with just brainwaves and clicks. But it isn't a good place to store your money at all. Even national banks are at risk for people stealing money, personal information, credit cards etc...

6 ( +6 / -0 )

Call me cynical but I get the feeling this was the plan all along. Inside job for sure! You don't overlook SEVERAL YEARS of losses!

6 ( +8 / -2 )

hidingout at Mar. 01, 2014 - 09:11AM JST <@ Educator60

I think this is a quote from Kolin Burges, not Karpeles.

There's no "I think" about it. Anyone who can read can see that's a quote from Kolin Burges.>

Yes, I agree it is evident that it is a quote from Burges. I was just trying to be gentle in my wording toward smith who appeared to be confused.

4 ( +4 / -0 )

Who on the earth want to get involve with the bitcoins that is not regulated in banking industry? There is no protection for investors in case of loss. That should be the first red flag.

2 ( +2 / -0 )

I understand the number of bitcoins is fixed so should be a simple task to eventually find where the imaginary currency went.

2 ( +3 / -1 )

I just don't understand why so many people believed him and bitcoins. I knew it would happen sonner and later. No one takes responsibility about this. Losing money is your fault anyway.

1 ( +3 / -2 )

For those who got in, high risk, high reward philosophy at work here

1 ( +1 / -0 )

"hidingout at Mar. 01, 2014 - 09:11AM JST <@ Educator60

I think this is a quote from Kolin Burges, not Karpeles.

There's no "I think" about it. Anyone who can read can see that's a quote from Kolin Burges.>

Yes, I agree it is evident that it is a quote from Burges. I was just trying to be gentle in my wording toward smith who appeared to be confused."

Yes I understood your use of the words "I think" so not to worry some of us did get it.

0 ( +1 / -1 )

Sorry, but investment in bit coins??? . "A fool and his virtual money are soon parted" I bet these people also "invest" in binary trading. The old ways are still the best, blue chip stock, real estate etc.

2 ( +3 / -1 )

Yes, I agree it is evident that it is a quote from Burges. I was just trying to be gentle in my wording toward smith who appeared to be confused.

Yes, I was also trying to be "gentle in my wording". Some posters, having made up their mind about issues long ago, have a tendency to not even bother reading the articles before rushing in with their comments. They are not "confused". More like dogmatic.

0 ( +4 / -4 )

Sop a bunch of fake money disappears in smoke. Anyone surprised?

1 ( +3 / -2 )

I lost 2 bitcoins when my computer crashed. Since, I was a newbie I didn't backup my "bitcoin wallet". I think it's not hacker, more like MtGox forgot to backup their wallet and their computer crashed. Traditional hacking is almost impossible with bitcoin, unless it involved social engineering as well, like the "It's me scam".

-1 ( +0 / -1 )

It may not be an inside job as there has been a recently discovered vulnerability in the Bitcoin protocol known as “transaction malleability”. Silk Road 2.0 was similarly cleared out a couple of weeks ago, although some deny this "vulnerability" could be the cause of the theft.

http://www.forbes.com/sites/andygreenberg/2014/02/13/silk-road-2-0-hacked-using-bitcoin-bug-all-its-funds-stolen/

0 ( +0 / -0 )

A fool and his bitcoins are soon parted,,,

0 ( +2 / -2 )

“a weakness in our system.” - Mark Karpeles

Yes it is called GREED AND DISHONESTY.

Mark Karpeles was planning to "retire" however since this huge amount of money has been reported missing, he has been inundated with job offers from numerous share trading companies and merchant banks.

0 ( +1 / -1 )

Bitcoin on Oxygen.

0 ( +0 / -0 )

haha why is this not surprising.

1 ( +1 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites