Quote from: zyk on February 20, 2014, 06:21:05 PM

Quote from: Bitsinmyhead on February 20, 2014, 06:12:44 PM

Quote from: Petopas on February 20, 2014, 03:20:14 PM

Although I haven't got funds @mtgox anymore, I'll supply you with some information in order to support anybody who wants to sue mtgox because I'm very interested in seeing Mark Karpeles at court for his actions. lost quiet a bit during the last days when leaving mtgox.

throughout the last week immediately after the first press release of mtgox regarding halted btc withdrawals, you could observe huge rhythmic btc dumps @mtgox every 2-5 minutes following always the same pattern ("the whale of mtgox"). the sum of these dumps up to now is approx 140000 btc at an average price of around us$270. ie a us$38 mio sell-off. there were a few stuck levels eg at us$261.24 yesterday and us$148.15 the day before yesterday. these were manipulated levels by the whale serving all asks above these levels every 2-5 minutes. this is very difficult to do through the api of mtgox. but very easy if you're in charge of the order book itself.

Therefore, you'll have to deal with either a very risky investor who is going to sue mtgox as well for his us$38+ mio funds @mtgox pretty soon.

if you take into account that most of the trading fees at mtgox were paid in btc throughout the last years (default setting), it is more likely that the whale rushing all the btc on the market is mtgox resp Mark Karpeles himself. This would be an easy way to transfer the customers fiat collected throughout the last years to his own account reducing his liability in and us$. if you further take into account, that maybe a good portion of btc stored at mtgox got stolen, mtgox might blame the bitcoin protocol ("transaction malleability") as a cause for the loss. the result: Mark Karpeles got the customers fiat, the customers got stolen btc. the customers could file a charge against an unknown person for stealing their btc.

what does this mean? --> all data on the servers of mtgox must be assured immediately in order to investigate the fraud.

ressources:
http://bitcoincharts.com/
http://bitcoinwisdom.com/
http://coinsight.org/mtgox.html

Very good post, which I think is pretty much spot on.

However I see one problem, with the price now at $115 and an 80% spread, for this selling to still be profitable Mark will have to claim more than 80% of the coins are gone. How is he going to argue that he has blindly been emptying out 80% of Gox' wallets without questioning what is going on?

Gox is being emptied out while we speak not blindly but intentionally.....and if no authority freezes their accounts

before the price reaches zero...then well .....there will be zero left...no Btc no cash balance just laywer costs and

the bitcoinfoundation Wink

gox did everyone a favor proving why unregulated cryptocurrency cannot work