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http://www.coindesk.com/investor-group-offers-buy-mt-gox-one-bitcoin/
"A group of investors has offered to buy bankrupt Japan-based bitcoin exchange Mt. Gox, as part of a bid that will require the approval of its Japanese bankruptcy court. (...)
The Wall Street Journal reported that the investor group would assume all of Mt. Goxs liabilities and obligations. (...)
Creditors will have two options. They can either receive a prorated amount from the 200,000 bitcoins recovered by Mt. Gox equal to roughly 20 percent of their claim, or obtain an equity stake of that amount in the revitalized Mt. Gox exchange.
The investor group pledged to set aside 50% of transaction fees to pay back creditors over time."
That's interesting although I am not sure how likely this could happen. Under this scenario, I wonder what happens to people who have fiat at Gox, will they get 0%, 20% or 100%?
"A group of investors has offered to buy bankrupt Japan-based bitcoin exchange Mt. Gox, as part of a bid that will require the approval of its Japanese bankruptcy court. (...)
The Wall Street Journal reported that the investor group would assume all of Mt. Goxs liabilities and obligations. (...)
Creditors will have two options. They can either receive a prorated amount from the 200,000 bitcoins recovered by Mt. Gox equal to roughly 20 percent of their claim, or obtain an equity stake of that amount in the revitalized Mt. Gox exchange.
The investor group pledged to set aside 50% of transaction fees to pay back creditors over time."
That's interesting although I am not sure how likely this could happen. Under this scenario, I wonder what happens to people who have fiat at Gox, will they get 0%, 20% or 100%?
New post on Gox:
"Announcement with regard to consultations with investigating authorities on the disappearance of
bitcoins
Following its application for commencement of civil rehabilitation, MtGox Co., Ltd. consulted with the
metropolitan police department with regard to the disappearance of bitcoins which is one of the causes for
said application. MtGox Co., Ltd. hereby announces that it has submitted necessary electronic records and
other related documents.
MtGox Co., Ltd. intends to fully cooperate with each competent authority.
Further, MtGox Co., Ltd. continues to make efforts to clarify facts as quickly as possible and to recover
from damages."
"Announcement with regard to consultations with investigating authorities on the disappearance of
bitcoins
Following its application for commencement of civil rehabilitation, MtGox Co., Ltd. consulted with the
metropolitan police department with regard to the disappearance of bitcoins which is one of the causes for
said application. MtGox Co., Ltd. hereby announces that it has submitted necessary electronic records and
other related documents.
MtGox Co., Ltd. intends to fully cooperate with each competent authority.
Further, MtGox Co., Ltd. continues to make efforts to clarify facts as quickly as possible and to recover
from damages."
Hi Guys.
Just inscribed myself, got goxed too... (asked withdrawal for all my fiat mid january, but it never arrived).
I don't if this has be done somewhere (tell me if so) , but I was just trying to guess how much I could get from the bankrupcy procedure...
I made a few guesses :
- All MTGOX assets are shared beetween us
- BC and fiat holders are treated equally
- MTGOX BC are just lost
- 10% of the assets go to procedure costs and people ( that what happens in france, these people pay themselves first...)
the big question is the amounts on each side :
according to the crisis draft :
-Assets : 2000 BC + 32,4 M$US
-Liabilities : 544 k BC (624 _ 80 ) + 55 M$US
and then the price of BC to balance everything is a key too (high price for BC make the hole bigger...)
With a BC price @500 $US, the assets cover about 8% of the liabilities ...
If the BC price go to 200, then we could have about 18% back .
then I saw that MTGOX still have something like 200 000 BC.
It would make about 30/ 40 % ( wich I would be happy with ! )
Well,
It s a lot of guesses, and this can take more than a year ...
what do you think ?
Just inscribed myself, got goxed too... (asked withdrawal for all my fiat mid january, but it never arrived).
I don't if this has be done somewhere (tell me if so) , but I was just trying to guess how much I could get from the bankrupcy procedure...
I made a few guesses :
- All MTGOX assets are shared beetween us
- BC and fiat holders are treated equally
- MTGOX BC are just lost
- 10% of the assets go to procedure costs and people ( that what happens in france, these people pay themselves first...)
the big question is the amounts on each side :
according to the crisis draft :
-Assets : 2000 BC + 32,4 M$US
-Liabilities : 544 k BC (624 _ 80 ) + 55 M$US
and then the price of BC to balance everything is a key too (high price for BC make the hole bigger...)
With a BC price @500 $US, the assets cover about 8% of the liabilities ...
If the BC price go to 200, then we could have about 18% back .
then I saw that MTGOX still have something like 200 000 BC.
It would make about 30/ 40 % ( wich I would be happy with ! )
Well,
It s a lot of guesses, and this can take more than a year ...
what do you think ?
I am not an expert either, but I have the feeling they would divide the amount of BTCs left with the users and the same thing would happen with fiat. So I don't think they would convert the BTC into fiat. Of course, this would only happen after all the costs and first-in-line creditors get their money back.
Granted, this is pure speculation - any lawyer around here?
Now they have added my pending fiat withdrawal amount to mtgox.com site balance. Now the balance matches in full.
Finally a tiny light at the end of the tunnel.
I am still waiting for mine to update.
Does it show as "pending" or does it show in your balance?
I would love to prove it, but with this bunch, and there adept ways at swindling your eyeballs out, posting a pic of my Feb transfer form, and a pic of my current brokerage account balance (I wired it from the brokerage, not the checking) would NOT be a good idea.
Next thing I know the power would go out to my house and boxes of dildos bought with my debit card would pile up on my front door.
Next thing I know the power would go out to my house and boxes of dildos bought with my debit card would pile up on my front door.
Because it's impossible to show the refund with redacted personal info?
print screen, use paint/gimp
yep, seems fake.. he doesn't even provide basic information about what happened.
Another guy just announced that he got his bank-transfer from the 18'th cancelled and refunded.
How is it that you havent cancelled your transfer already on the 28 Feb? after ten days. You might still have time to report a fraudulent transfer to your bank, but you need to tell your bank, not ask dweebs on bitcointalk.
How is it that you havent cancelled your transfer already on the 28 Feb? after ten days. You might still have time to report a fraudulent transfer to your bank, but you need to tell your bank, not ask dweebs on bitcointalk.
Interesting, do you know who said that? I'd like to talk to that person.
I did an international transfer on the 17thFeb and asked to cancel it on the 19th and it was too late already. My bank contacted Gox's bank in Poland and they could only give the money back if they received authorization from Gox. Needless to say they never received the confirmation - even worse, they couldn't get in touch with Gox.
I raised a complaint in the UK police fraud department, and got nothing on that side. Now that Gox is officially bankrupt, I'm not sure how a fraud investigation affects the situation, I have the feeling it is paused until the bankruptcy process is cleared up, but I am not an expert on this.
This thread. : https://bitcointalk.org/index.php?topic=521666.0
Your experience might have to do with your bank or the country your'e in. They should have reversed the transaction if you had told them that you are a victim of fraud, and you made a web purchase on a fraudulent web shop called mtGox.
thanks for that.
Well, this bank account is based in the UK in a main street bank so I should have access to consumer protection as well.
At that time, we talked about fraudulent activities but I didn't officially told them that because I had no real evidence, only speculative evidence. I only told them I sent money to them and they are about to get bankrupt.
Maybe I should have pushed more the victim of a fraud card. I will call them again today to see if they have any news.
Which date were they wired to Gox on, originally?
It was initiated on the 18th of Feb.
Have you done something to get your money back?
To which bank did you send the money to? Did you call the bank?
From which country did you send the money from? which currency?
I am in a similar situation. but I didn't see any money yet.
I did an international transfer on the 17thFeb and asked to cancel it on the 19th and it was too late already. My bank contacted Gox's bank in Poland and they could only give the money back if they received authorization from Gox. Needless to say they never received the confirmation - even worse, they couldn't get in touch with Gox.
I called the bank in Poland as well and obviously they couldn't give me any information.
If you have more information, that would be helpful so other can maybe do the same thing.
Another guy just announced that he got his bank-transfer from the 18'th cancelled and refunded.
How is it that you havent cancelled your transfer already on the 28 Feb? after ten days. You might still have time to report a fraudulent transfer to your bank, but you need to tell your bank, not ask dweebs on bitcointalk.
How is it that you havent cancelled your transfer already on the 28 Feb? after ten days. You might still have time to report a fraudulent transfer to your bank, but you need to tell your bank, not ask dweebs on bitcointalk.
Interesting, do you know who said that? I'd like to talk to that person.
I did an international transfer on the 17thFeb and asked to cancel it on the 19th and it was too late already. My bank contacted Gox's bank in Poland and they could only give the money back if they received authorization from Gox. Needless to say they never received the confirmation - even worse, they couldn't get in touch with Gox.
I raised a complaint in the UK police fraud department, and got nothing on that side. Now that Gox is officially bankrupt, I'm not sure how a fraud investigation affects the situation, I have the feeling it is paused until the bankruptcy process is cleared up, but I am not an expert on this.
It's possible to login in the Mt Gox website and check your balance.
Has anybody tried already? has the website been hacked?
Has anybody tried already? has the website been hacked?
I did.
It didn't accept a wrong password but it accepted the correct one.
The displayed balance was correct. (However, it was also correct in the leaked database.)
It showed BTC, EUR, USD balances (these are the only currencies I ever used, USD have been [and still is] zero days before the shutdown, EUR was 0.001, BTC was ~8) nothing else.
So, unless you are worried that their current database doesn't have correct records of you, you gain nothing by checking it.
My last trade (EUR->BTC) happened ~10 hours before the shutdown and it's still valid now.
Did it ask for your 2FA (if you had it enabled in the first place)?
I just tried it and it worked. It gave me the balance for BTC, EUR and USD.
I used to have 2FA and it didn't ask me for it.
Mt Gox call center:
http://www.reddit.com/r/Bitcoin/comments/1z7nci/mtgoxs_new_inquiry_call_center_opens_monday/
MtGox inquiry phone number:
TEL: +81-3-4588-3921 Monday - Friday 10am - 5pm
http://www.reddit.com/r/Bitcoin/comments/1z7nci/mtgoxs_new_inquiry_call_center_opens_monday/
MtGox inquiry phone number:
TEL: +81-3-4588-3921 Monday - Friday 10am - 5pm
The consensus here, as far as I can tell, seems to be that they won't ever open up any form of BTC or fiat withdrawals? All fiat deposited at Gox now will probably be used to pay Mark's legal bills?
That's why I've been arguing for putting Mt. Gox into involuntary bankruptcy in Japan. Someone in the legal forum is gearing up to do that.Once that happens, a court-appointed receiver takes over control of all assets. Then, with full access to all Mt. Gox records, there's more hope of finding the "missing" Bitcoins. They're somewhere. With the FBI, the Tokyo Metropolitan Police, the Chief Cabinet Secretary of Japan, and the U.S. Attorney for the Southern District of New York all asking questions, they might well be recovered.
It took a while, but over half of what Madoff stole has been recovered.
quote about half of what madoff stole has been recoevered
Here's a bit of info on that
http://en.wikipedia.org/wiki/Recovery_of_funds_from_the_Madoff_investment_scandal
"There have been attempts for the recovery of funds from the Madoff investment scandal. Approximately $5.868 billion has been distributed to victims of Bernard Madoff through the agency of trustee Irving Picard."
"most victims will only receive roughly 34 percent of what Madoff stole, with only a handful being made whole"
We need Picard!
[/quote]
...its unbelievable that the ponzi keeps going even as the webside already went dark- ! Please show me one single panic - seller on this forum
who sold BTC for under 300 dollars at Gox given that he hasn´t bought them for a hundred before ;-) You can´t debunk that fact and
absolutly need to stop denialing the rationalisations which are delivered by this fact : You are being played and not by Karpeles
alone....
[/quote]
Well, I am one of those of sold my BTC for less than $300, I think many people were panic selling, it was clear that things will not go well in the near future. I lost half my investment on Gox and managed to get BTC out through bitcoinbuilder at 0.3 rate. do you think I am happy??
I am sure there are plenty people like me who did this.
so here it is.
I think many people are getting fucked and giving the opportunity many people are fucking other people.
It's a good article to read again, this guy made spot on predictions based on poker recent past experience...
http://www.coindesk.com/mt-gox-may-headed-bankruptcy/
"FullTiltPoker enjoyed market dominance from late 2006 until their DOJ indictment in April 2011. Soon after being banned from servicing US players, the DOJ gave them permission to repay all depositors, but they failed to do so.
On May 15th, FTP claimed: Full Tilt Poker faced numerous challenges and hurdles to ensuring the smooth operation of its international business and the orderly return of US player funds. We are absolutely committed to making sure that US players are refunded as soon as possible. We apologize for the delay and the fact that we underestimated the time it would take to work through these issues.
On May 30th, they repeated:
We still do not have a specific timeframe for [paying back players]. There has been, and remains, no bigger priority than getting US players paid as soon as possible, and we have been working around the clock to get this done.
However, at this point, they admitted solvency issues for the first time, saying: We are raising capital to ensure that the US players are paid out in full as quickly as possible. The company admitted total insolvency three months later, on August 31st."
http://www.coindesk.com/mt-gox-may-headed-bankruptcy/
"FullTiltPoker enjoyed market dominance from late 2006 until their DOJ indictment in April 2011. Soon after being banned from servicing US players, the DOJ gave them permission to repay all depositors, but they failed to do so.
On May 15th, FTP claimed: Full Tilt Poker faced numerous challenges and hurdles to ensuring the smooth operation of its international business and the orderly return of US player funds. We are absolutely committed to making sure that US players are refunded as soon as possible. We apologize for the delay and the fact that we underestimated the time it would take to work through these issues.
On May 30th, they repeated:
We still do not have a specific timeframe for [paying back players]. There has been, and remains, no bigger priority than getting US players paid as soon as possible, and we have been working around the clock to get this done.
However, at this point, they admitted solvency issues for the first time, saying: We are raising capital to ensure that the US players are paid out in full as quickly as possible. The company admitted total insolvency three months later, on August 31st."
A friend of mine was running an international software startup many years ago that had distributor relationships with all of the major country markets worldwide and he found out that the french distributors were scheming to double-cross him behind his back with their own product after a lengthy and supposedly trustful relationship. Nothing wrong with honest competition, but they turned out to be the only dishonest (french) distributor group from all of the various distributor relationships worldwide.
Perhaps the fact that Karpeles is french should not be held against him for this particular unrelated incident. But one cannot overlook the fact that perhaps this "leaked" document is part of a very carefully orchestrated strategy to shift blame away from Mark - thus effectively allowing him to pull off the biggest scam in bitcoin history. He knows that he is viewed as incompetent - which gives him the perfect cover excuse with the general media. Incompetence does not imply the lack of extreme self-serving cunning...
If he is stupid enough to believe that a new reincarnation as "Gox.com" will survive, then anyone stupid enough to deposit funds with the new site (regardless of what the new management team will be) when it launches (supposedly next month) deserves to lose their funds in the future.
Those who do not learn the lessons of history are doomed to repeat it again...
Perhaps the fact that Karpeles is french should not be held against him for this particular unrelated incident. But one cannot overlook the fact that perhaps this "leaked" document is part of a very carefully orchestrated strategy to shift blame away from Mark - thus effectively allowing him to pull off the biggest scam in bitcoin history. He knows that he is viewed as incompetent - which gives him the perfect cover excuse with the general media. Incompetence does not imply the lack of extreme self-serving cunning...
If he is stupid enough to believe that a new reincarnation as "Gox.com" will survive, then anyone stupid enough to deposit funds with the new site (regardless of what the new management team will be) when it launches (supposedly next month) deserves to lose their funds in the future.
Those who do not learn the lessons of history are doomed to repeat it again...
Wow, so the fact that you heard from a friend that a french business did something dishonest once, and because Mark is French, there he must be doing something dishonest. this is incredibly racist. go back to your room.
What do you think about this guys?
http://www.reuters.com/article/2014/02/25/bitcoin-mtgox-ceo-idUSL1N0LU12G20140225
it seems not a bad news...
http://www.reuters.com/article/2014/02/25/bitcoin-mtgox-ceo-idUSL1N0LU12G20140225
it seems not a bad news...
Two official channels exist still for GOX. Their Facebook page and Google+. The latter not used as much.
That will be where official statements will come from. Interesting never the less.
"We should have an official announcement ready soon-ish. We are currently at a turning point for the business."
I think the turning point is to say: "That's all folks, we are bankrupt!"
FYI, I made an international wire from the UK to the bank in Poland and ask to cancel the transfer last week. I called my bank again today to get an update on the situation and they said they couldn't cancel the transfer because the Bank in Poland couldn't contact Gox to confirm the cancellation of the payment.
I am trying to contact the bank in Poland but their international wire transfer team is not picking the phone at the moment.
That's definitely not good news, not even the bank in Poland can get in touch with their client! and I think i just lost that money....... fuck
I am trying to contact the bank in Poland but their international wire transfer team is not picking the phone at the moment.
That's definitely not good news, not even the bank in Poland can get in touch with their client! and I think i just lost that money....... fuck
I just did it on Monday morning for about $15,000 from US. They processed it this morning (this was before the news came out) is it too late to cancel it from my bank? It's supposed to go to the bank in Tokyo.
When you say they processed it this morning, do you mean Gox? or your bank?
you should call your bank asap to confirm what you can do. You may still be on time.
I tried to cancel it 2.5 days later and it looks like it was too late.
FYI, I made an international wire from the UK to the bank in Poland and ask to cancel the transfer last week. I called my bank again today to get an update on the situation and they said they couldn't cancel the transfer because the Bank in Poland couldn't contact Gox to confirm the cancellation of the payment.
I am trying to contact the bank in Poland but their international wire transfer team is not picking the phone at the moment.
That's definitely not good news, not even the bank in Poland can get in touch with their client! and I think i just lost that money....... fuck
I am trying to contact the bank in Poland but their international wire transfer team is not picking the phone at the moment.
That's definitely not good news, not even the bank in Poland can get in touch with their client! and I think i just lost that money....... fuck