Hi all. I'm making my first post here to offer my heartfelt apology to those affected by the security breach at Bitcoinica.

The investment fund I work with first put money into Bitcoinica because I had identified it as a promising start-up in this exciting space. It is my job to find potential investments and conduct related due diligence. In doing so, I learned a lot about bitcoin trading and Bitcoinica.

Like many early stage companies, Bitcoinica experienced growing pains as its success outgrew the capacity of its initial founder to handle alone. It was I who sought out expanded management to help take Bitcoinica forward.

I chose the Bitcoin Consultancy team due to their early involvement with bitcoin, their experience operating an exchange, and their reputations for expertise in online security.  

Bitcoin Consultancy was first retained to perform a comprehensive security audit on March 27 and they became owners and operators of Bitcoinica LP on April 24. As General Partner, they have exclusive legal authority to manage the company.

Because their time with the company is relatively short, the present situation is especially challenging. Zhou Tong has continued to assist in an unofficial capacity. I've offered what insights I can based on my knowledge of the business. In spite of the challenges, I know the Bitcoin Consultancy team would like to bring about the best possible outcome.

Per standard practice, Bitcoin Consultancy entered into a non-disclosure agreement which extends to Bitcoinica's proprietary systems and processes. They are free to discuss their role and history with the company.

For those who wish to blame someone, blame me. Perhaps if I'd pushed for expanded management sooner or in a different way, the incident might have been avoided.

For avoidance of confusion, I wish to reiterate Bitcoinica Consultancy's prior statement: Mr. Heaslip is an accounting professional who assisted with company formation. He has his own business interests in New Zealand which are otherwise unrelated. I have facilitated investments in dozens of other companies, including some in the bitcoin space. Those companies are also unrelated.

I’m unable to follow most public postings here, but you can reach me through this forum by private message. Questions about processing of funds should be directed to Bitcoin Consultancy as they alone control that process.

I've advised Bitcoin Consultancy to focus their efforts on processing claims rather than public debate. Please extend them your continued patience.