Post
Topic
Board Bitcoin Discussion
Re: Hacked Account Owner: is a Buddhist Monk
by
passerby
on 21/06/2011, 14:09:45 UTC

Hahaha, true I haven't thought of that.
If the 8mill were held by an organization it would be hardly any bitching publicly.
But considering that the bitcoin market is very volatile and very risky, I doubt that any organization would invest around 8 million dollars in it. This is a groundless assumption... but I really doubt it.

Most probably that "single" account belonged to Mark or one of his partners.

PS: Yes, MtGox didn't "lose" all that money, right now everything is still in their hands (most of it). The problem is what to do with the transacted bitcoins. On paper right now, almost everything belongs to Kevin.
But that is another discussion, the main thread here in this thread is to point out that the "single account hack" is most definitely either bullshit or they are protecting their own accounts or trying to free themselves of responsabilities and compensations.

What makes you think that the organization in question invested those money in the typical financial sense (to gain direct profits from bitcoin exchange)?
Of course, an alternative hypothesis would be that an organization such as, but not limited to, a corporation, would clandestinely move funds into a bitcoin market in order to obtain a fast, thoroughly laundered and plausibly deniable stash of "pseudocash" for blatantly illegal purposes, and most certainly, the idea that a corporation (or other organizational agent), would sink as low as to engage in acts of bribery, sabotage, espionage or other criminal acts, is outright unthinkable. UN-THINK-ABLE I SAY, GOOD SIR  Roll Eyes

Or, an even better theory:
given the timing of Gavin's CIA talk, there is distinct possibility that those were CIA money, moved into bitcoin market for laundering and further use as a payment vector for assassinations or some other outrageous acts CIA would rather be able to absolutely deny connection with.
And CIA are hardly beyond using retarded passwords - they are, after all, merely human.

That would neatly explain why Gox folks are so adamant in protecting the interests of the Mysterious Millionaire Client With Lousy Passwords (that is, the Gox folks do not find oxidative phosphorylation to be a burdensome ordeal Wink )