Post
Topic
Board Service Discussion
Re: Instawallet claim process
by
tvbcof
on 06/07/2013, 18:19:59 UTC

Sorry to follow up on my own post, but some people may find it interesting.  So, while we wait...


+100

There needs to be an absolute baseline here.  If you hold bitcoin deposits and you suffer a hack, either provide rock solid proof of the event, and measures taken to resolve the issue in the justice system, or be presumed to be the thief.

I +100 to that, BTW.

I appreciate your +100, but do need to voice my opinion about how the timing of the supposed reconciliation was handled.  My opinion is that in this respect Bitcoin-Central did a reasonably good job
...

I actually consider the handling to be evidence of non-wrongdoing on the part of Bitcoin Central.  Here's why:

This things started out by 'thefounder' proposing a (fairly meaningless) weakness in Instawallet.  It was, however, sufficient to get me to finally take action to draw down some of my balance which I'd been meaning to do for a while and had not gotten around to.  I suspect that others had a similar reaction.

The theft happened very shortly thereafter.  Bitcoin-Central displayed the kind of confusion in their various responses that I would have expected from a non-perp.

The lock-down of their various services and correspondence about things around this time are also what I would have expected from a small organization who was struggling to understand the scope of the failure.

Most critically, the timing of planing and code development necessary to implement a reconciliation were also exactly what I would expect in an innocent scenario.  Were this theft a carefully planned operation, I doubt that Davout/Boussac would have had the foresight to match their operations to the observations I've made, but it is certainly possible.

In the days ahead we will find out how interested Bitcoin-Central is in providing more transparency and hopefully what actions they have taken to resolve and prosecute this crime.  If any.