Post
Topic
Board Bitcoin Discussion
Re: Statement about the suspect of recent Bitcoinica hack
by
btcprophet
on 29/07/2012, 06:59:11 UTC
Hey Zhou, does this ring any bells?

  • kid hacks together a flaky leveraged trading platform
  • everyone on HN tells him to pack it up now before lots of people lose lots of money, he doesn't listen
  • site is losing money, the kid is in way over his head
  • kid keeps losses secret, perhaps covers with his own money hoping he can make it work
  • foolish buyer appears - the kid happily dumps the mess he's made
  • no longer feeling responsible, he trivially fakes a hack (those annoying forum critics were predicting it so let them have it!) and sets himself up with a nice stash of bitcoins
  • kid's attempt to just walk away fail as new owners start questioning the lack of promised profits
  • time for another hack (it worked so well the first time!) but this time the goal is getting rid of the database that most likely contradicted lies told to the new owner
  • the poor suckers left holding the bag flail around trying to figure out who to give the remaining money
  • emboldened by prior success, the kid sees yet another opportunity to loot the steaming rubble of his handiwork
  • this time he gets careless and gets caught with his hand in the cookie jar, concocts a story less believable than the plot of Prometheus

Enough with the lies. I am sympathetic to the story of an ambitious kid who got in too deep and can't figure a way out but a window for claiming this story is rapidly closing. If you stick with your current course you are embracing your new identity of a boldfaced liar and a thief.

You probably still believe you can fix this and come out relatively unscathed but you are deluding yourself. It's time to tell the truth - all of it. It will free you and trust me - the consequences won't be anywhere near as severe as the alternative.