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Author Topic: [2016-04-19] Shapeshift Rebuilds After Losing $230,000, Promised to Be Back  (Read 314 times)
smashbtc (OP)
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April 20, 2016, 03:51:27 AM
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After a month of battling several attacks on Shapeshift’s trading platform, the company announced a full shutdown of their website to be reconstructed with improved security due to missing funds which tallied up to $230,000. The platform should be back on April 20.

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April 20, 2016, 04:05:59 AM
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I really missed it, it is a quick service, better than exchanges. It's back now. converted my few LTC

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April 20, 2016, 03:04:31 PM
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Yeah, lets trust someone who can lose 230K. Is Erik channeling Mark Karpeles or something? Could he be any more incompetent?

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April 20, 2016, 03:26:08 PM
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Yeah, lets trust someone who can lose 230K. Is Erik channeling Mark Karpeles or something? Could he be any more incompetent?

I'm not sure about the superficial explanation for this particular story. Why disclose the hack at all, when customer funds cannot be stolen through the platform anyway? It's not impossible that this is some kind of tax avoidance on Shapeshifter profits, which wouldn't be out of character for Voorhees, considering the (also) slightly strange circumstances surrounding the sale of Satoshi Dice. It'd be cool if that were so; tax avoidance when you're already based in Panama is a bit of a winning move IMO

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April 21, 2016, 02:25:25 PM
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Yeah, lets trust someone who can lose 230K. Is Erik channeling Mark Karpeles or something? Could he be any more incompetent?

I'm not sure about the superficial explanation for this particular story. Why disclose the hack at all, when customer funds cannot be stolen through the platform anyway? It's not impossible that this is some kind of tax avoidance on Shapeshifter profits, which wouldn't be out of character for Voorhees, considering the (also) slightly strange circumstances surrounding the sale of Satoshi Dice. It'd be cool if that were so; tax avoidance when you're already based in Panama is a bit of a winning move IMO

There's a rumbling theory knocking around that the recent crackdown on Panama as a tax haven, in light of the "Panama Papers", is going to equal the scope and intensity of Switzerland when its all said and done. He better have all of his ducks in a row, because this "hack" could've been the first shot in a wave of unearthing who exactly is channeling funds to various parties. Funny how he finds himself yet again in the center of potentially dubious behavior. He must have the Mark Karpeles school of management certificate.

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