Bitcoin Forum

Often i read the question: where is the missing $$$ from mtgox? The missing bitcoins are gone due to the btc bug (they say), but where are the dollars ?

Answere: they didnt exist.

I just want to remind you:

https://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/

Mark Karepeles created the dollars himself and entered them into his database. But these dollars never existed in the mtgox bank account.

Total BTC bought: 268132.73433409
Total USD spent: $111,770,744.48

"So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC – the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this may be why. Not Chinese investors, not the Silkroad bust – these events may have contributed, but they may not have been main reason. But more on that later."

dont forget this

Nobody really buys his excuse. It's very likely a thief has them whether that be Karpales or some other hacker of insideman. The whole ordeal stinks to high heaven, though.

If your explanation is true, then Mark was running a Ponzi within Mt. Gox. And the same might happen right now inside any real time exchange, though it is not possible in P2P exchanges like localbitcoins.

After having read through everything, it sounds more like an insider job carried out to artificially inflate the price of the coin. Somebody obviously ended up very rich from doing this.

The guy needs to be thrown in the river with cement bricks around his ankles.  Seriously.   I don't know how somebody gets away with all this theft.

For the karpeles version : " It is disappeared" . For my version :" karpeles is a scammer". However I don't think he will finish in the prison , and also I don't think he will return all the robbed bitcoin.  

Hookers  :)

the dollars did exist as many people gave MTGox dollars when they deposited.. the problem is that karpeles sucked that bank account dry, and although he is using a so called "malleability" bug to excuse  how btc disapeared.. he cannt come p with a valid or credible reason for the dollar disapearance, and thus he kept quiet..
.. which is his downfall and reveals his lies, in of itself.

so while people were depositing dollars, mark karpeles was hedging that only 10% of people would withdraw the dollars, so he was operating a fractional reserve and pocketing a large amount of dollar himself.

Dwolla slapped his wrist the previos year for funneling large amounts of funds without licences. and i think once evidence is released publicly, it will be shown where other bank transfers have emptied the mtgox Fiat pot

So does everyone finally realize that the run up to $1000+ was fully because of fraudulent activity???  I still feel like we have a ways to go before we are back to a reasonable price for BTC.  Might be $200's, might be lower.

the $1200 run was NOT fraudulent activity.. it was chinese activity.. which people in the western world then followed.. so not fraudulent, but speculative..

again for clarification
mtgox did not cause the $1200 price.. china started it, mtgox, bitstamp, btc-e followed..

Run on 1200$ activity was only chinese activity. Consider that in these day there were an high volume on the market. But at the same time I consider that Mark Karpeles with its activity has contributed so much at the raising of price !

no, it was mainly mtgox, i saw all the live trades and gox always broke big walls first, then chinese exchange followed with higher volume (like now okcoin, but now okcoin controls the market).

Also, there were 2-3 small crashes during the rally, and then mtgox stopped the engine to prevent that crash :). And the chinese exchanges were not able go lower than the price where gox stopped trading.

I believe karpeles bought some doge, then earthcoin but recently eqx coins  :)

apparently the manager of the local starbucks in Japan reported turnover of 250 million $ per year since karpeles rested his fat arse around the corner.
that was just in frappuccino sales  ;D

https://i.imgur.com/pU2lyce.jpg

Two other significant events fed that rally.

The US Senate hearings was major for the market, as beforehand people were concerned that they might try to stamp down on Bitcoin. However, they were open-minded about it. The Robocoin BTM at Waves Coffee House was a huge media event, surrounded by camera-crew and reporters, few of whom had a clue what they were looking at. One of them compared the machine to the appearance of the monolith in 2001 Space Odyssey.

Ha ha.. Is that where Draper's bitcoins went as well?

Most honest thing I have read today ;)

just in case you missed the news.....

http://www.coindesk.com/missing-mt-gox-bitcoins-inside-job-japanese-police/

What perfect timing  ;D

perfect timing for what??

I bet I can answer that with...

how can this be an answer??

Perfect timing for me. I had only just noticed this thread when you posted this...

you might want to monitor this post better....

https://bitcointalk.org/index.php?topic=179586.new#new

They claimed that only 100K or so was stolen, rest was an inside job.
I don't think they would be able to track it down to Mark.

Willy has them all

mt goxt moneyt doest not exist

really? can you tell me why not??? who had access to private keys etc? Mark and if anyone else then we are talking for max 2-3 people....
but i think in the bitcoin movie speaks that he is the only one if i'm not remember wrong...
i believe they have already found everything and we are going to learn the truth the next days

I just wanted to say..

Herp derp, Karp Markeles

www.bitcoins.com
www.kalyhost.com
www.forever.net

and more sites under Mark Karpeles and of course Tibanne Co. Ltd.

Have this error, by the time i posted that about 2 hours have passed and still the same :)

Database access error, please retry later


And this was the Genius of #1 bitcoin exchange in the world.... OMG

just to mention that today we are expecting the news from the Newspaper in Japan that 2 days ago told us about Police is 99% sure of fraud..... stay tuned!

EDIT: just now back on life :)

Well, if you ask me, I also am quite convinced that those BTC never existed. May it be because of some quirk or malfunction, or maybe even due to malice... They probably effectively sold BTC that never existed. The Willie Bot could fit right in that equation!

In short it got stolen OP

I would strongly doubt this. I am not sure about their explanation that they accidentally gave more bitcoin to their customers via malleability or not, however I would say they likely either lost it due to incompetence or it was stolen.

The willy bot does not fit your theory at all. ??? 

Wow I really don't know what to believe anymore. THis would really mean that everyone invested in Bitcoin got goxxed, not only the people holding their coins on gox... Man this truly is a sad day for Bitcoin. But some people suspected this all along...

the way i see it there has been a fraud beyond imagination to all of us....
Inside theft is the story we imagined first day we heard the news....explanations of M.K did not convinced anyone of us and even the more experienced programmers etc.... now the article on the major newspaper in country is telling the same according to police investigations....
what are we looking for now? does anyone knows where is the latest news from the newspaper? in the news we read about news to come on 3rd of January but nothing yet....anyone?

https://i.imgur.com/WTsNoTR.png
(I can't remember the original source of this, cred to him anyway)

It's all in Karpeles flying crystal skyscraper bathroom.

Genius! :D