Thanks for the article.

Your proposed point stands out:

1. Gox was robbed of a massive amount of coins (800k+) at some prior point in time, possibly June 2011, and has been operating a fractional reserve since.

This is incredible. Really really bad news. I find it impossible to believe that this, if it happened, was only known to Mark and perhaps one or two key members of his staff. Others must have been aware of this.

If you are right, then the fact that the theft of such a large number of coins has been covered up for so long is extremely damaging.