Post
Topic
Board Exchanges
Re: MtGox withdrawal delays [Gathering]
by
Imerman2
on 05/09/2014, 18:20:08 UTC
I've not watched this whole scenario for awhile, but Gox stated publicly they had a cold wallet with an average of 98% of their total Bitcoin holdings in it.  How can someone have stolen these coins?  Even if they had a hacker who stole coins from within the business itself (Karpeles mentioned in one interview that one bit of advice he would give other Bitcoin companies would be hiring full-time security guards) how can they have stolen any of the coins in the cold wallet?  And if the paper wallets were stolen, it would seem there would be some sort of security and/or a limited number of people with access to the coins making it easy to determine who the criminal was.

Finally, and this is just a hunch, but Charlie Shrem was arrested in January 2014 for money laundering (Mt Gox went offline in February 2014) after working with Federal authorities on ways to regulate Bitcoin during which he revealed different "money laundering" services he had performed in the past in the hopes that: 1. The Feds would be lenient because he was helping them learn how to regulate Bitcoin and 2.  Bitcoin was originally not legally considered property so money laundering was technically impossible in the early days of its release.  Seeing that Charlie Shrem was put under house arrest for information he voluntarily gave up, it seems likely that some of the information he released could have implicated Mark Karpeles in a criminal investigation of a similar sort and that could be where the shenanigans began.

This story still makes no sense to me, all I know is that something is very fishy, whether it is coming from Gox or governments, and seeing the track records of governments my bet is that they're fucking with us, though I'm not sure exactly how.