Post
Topic
Board Bitcoin Discussion
Re: [Emergency ANN] Bitcoinica site is taken offline for security investigation
by
meelba
on 15/05/2012, 11:22:36 UTC
The thing is, Zhou let his clients to open more than 100 000BTC in LONG possition, but he didnt hedge this on MTGOX (he simply  doesn't have enough money to leverage this trades)

Well, he had no chance to cover profits in future. The story about hacker is a good choice to scam his clients and close most of long possitions with loses (which never exist in fact).