@Zhou How do you in all seriousness propose to return the remaining 40.000?
I had a conversation via email with Zhou earlier this week and this is what he told me:
I'm willing to personally commit the liability after the liquidation is done for the shortfall of funds, paid back from the profits in my future businesses.
It is nice of Zhou to suggest this but I don't think it is very practical, nor would it be ethical for creditors to accept Zhou's money if he really is innocent. Is anyone going after Chen?
I've lost track a bit of exactly what's been lost and recovered. From memory (please correct me):
Linode theft; X BTC (losses covered by investors I believe)
Rackspace theft: 20% of BTC; 0% of USD
MtGox API theft: 40,000 BTC; 200,000 USD
Here you go:
- 2012/03/02 - LINODE hack. 43,554 BTC stolen. LP (Tihans fund) covers loss.
- 2012/05/11 - RACKSPACE hack. 18,547 BTC Stolen, Full data loss. LP covers loss.
- 2012/07/13 - MtGox account compromise: 40,000 BTC and 40,000 USD stolen.
- 2012/08/14 - MtGox fund recovery from Chen: 20,000 BTC and 100,000 USD recovered.
liquidators typically charge upwards of $200 per hour.
Ouch! Now I understand the meaning of the word 'liquidator'. At that rate there will be little left (Consider the time needed to reconstruct the DB and vet claims). I certainly hope Tihan can find a receiver and liquidator that does not eat baby panda hearts for breakfast. Personally I'm hoping to see at least 70% back. (That would still mean a ~12,000 USD haircut in my case..)