Re: [Payout Updates] Bitcoinica site is taken offline for security investigation
Just under 10% of claims have been verified, and I'm waiting on those payments to be made out soon.
5% of people are verified so far.
Looks like it is going the wrong direction.. give it a couple of days and we will be at 0% verified
So based on your calculation, It seems at this pace it will take at least another month to get all valid claims verified.
- Is the plan to have a refund round for every 10% of claims verified?
- How many people apart from genjix and phantomcircuit are actively involved in the verification process?
- Why is the verification & refunds not top priority?
Other unresolved questions:
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Membership in a DRS is mandatory for FSPs who provide a service to retail clients, because it provides consumers with an avenue for redress when a dispute arises with their financial service provider. Membership in a scheme is a pre-requisite for registration as an FSP.
Why did Bitcoinica LP not sign up with a Dispute Resolution Scheme?
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FSPs who are unsure as to whether they need to join a dispute resolution scheme should seek legal advice.
Did Bitcoinica seek legal advice in this matter, if so what was the outcome?
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This is what I need from each of you today:
1) A sign of life that the claims processing has begun -- an announcement to that effect and/or actually paying people back
2) An email reply that you are acting as directors for the Bitcoinica LP general partner.
3) An email reply that you will supply the NZ Companies office with valid docs to reflect your director status at your earliest opportunity
I must consider anything less to be an abandonment of your legal obligations.
1) A sign of life that the claims processing has begun -- an announcement to that effect and/or actually paying people back
2) An email reply that you are acting as directors for the Bitcoinica LP general partner.
3) An email reply that you will supply the NZ Companies office with valid docs to reflect your director status at your earliest opportunity
I must consider anything less to be an abandonment of your legal obligations.
What was the outcome of this? e.g:
- Who is acting as directors for the Bitcoinica LP general partner at the moment? (And who is the General partner atm?)
- Did you supply the NZ Companies office with valid docs to reflect your director status?
- Did Tihan's fund decide you have abandoned your legal obligations? If so, is this the reason that CORE CREDIT LIMITED became BITCOINICA CONSULTANCY LIMITED on May 30?
- Who was the acting CEO or MD when the Rackspace hack occurred. Who is the current CEO or MD?
But it does not matter who is legally in charge right now as the way forwards is clear and everyone is in agreement about what needs to be done. We will make the payments, we now have consolidated all the records and the money.
When you are withholding ~$1 Million of customers deposits for over a month, It does matter.
I'm sorry for asking so many questions but I need to understand how deep the hole is that I am in. You see, It was trust that got me into this hole and therefore I cannot depend on trust to get me out of it.