Quote from: Phinnaeus Gage on July 14, 2012, 04:56:10 AM

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What are the banking hours in Japan? Most banks are open Monday to Friday, 9:00am to 3:00pm. Most are closed on Saturday's and Sunday's.

TGIF comes to mind. In this case, TGIF13.

As of an hour ago, Mt Gox has yet to file a report. Neither has those (maybe no longer plural) over at Bitcoinica.

~Bruno~

Bank hours have nothing to do with it. I was just giving a bank as an example of who would normally file the report with law enforcement if a depositor's funds are taken from an account with a financial institution.

We actually don't know exactly what contact MtGox may or may not have had with the authorities and it is no-one's best interest for them to reveal that information at this stage. On the other hand, the failure of those associated with Bitcoinica to make reports to law enforcement is inexcusable and simply cannot be justified.

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ZhouTong wasn't paid employee compensation.

In the other thread it was stated that Zhoutong continued to receive $8000 per month until recently. It is not clear whether he received that money as an employee or as a consultant, although his posts following the May intrusion indicated that he regarded himself as an employee. Generally when companies become insolvent, employee entitlements take precedence over those of unsecured creditors but there is little indication that any of the "management" people were being paid following the Linode hack. In fact, if Zhou is to be believed, funds were being injected into Bitcoinica at that time (by Tihan and perhaps others) to cover the initial losses.

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Zhou was being paid $8000 a month for operating Bitcoinica in his part time while Tihan was scrambling to get the site working. During the last month, Zhou was not taking pay, to refund the money stolen by the Linode compromise. Tihan was rushing to get the paperwork finished because Zhou is attending school. We kept sending the paperwork back saying it's incomplete and there's problems, so when the initial compromise happened, the company was not yet fully formed. The initial confusion was over who is responsible as the GP - the part time owner devoting maybe 5 hours a week? The new owners who had no experience operating the site? The middleman who acts on behalf of the owner and has no technical knowledge? That's why payments were initially complicated and delayed.