Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Looking at http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

"The cold storage has been wiped out due to a leak in the hot wallet."
WTF does this mean?

im going to assume the hot wallet is just the opposite of cold storage and refers to the active wallets they were using for transfers