MtGox withdrawal delays [Gathering]

[hardpick]

700,000 plus coins poof!

$35M, Jesus!

2nd biggest steal in bitcoin history

$35m ?

I think it is $350 M  ( my bad math ?)

700,000 x $500 = $350m  ?

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[kevinm]

hi guys

are they seriously gone with our fiat and btc?

Seems like it,
this morning they stopped trading, then a cpl of hours later they pulled the website,
No formal announcement from Gox staff.

cheers,
kev

[TheFootMan]

hi guys

are they seriously gone with our fiat and btc?

Seems like it,
this morning they stopped trading, then a cpl of hours later they pulled the website,
No formal announcement from Gox staff.

cheers,
kev

700k+ btc gone? Hard to believe, investigation is warranted, and all MtGox management must be held up.

[papamoi]

WTF is that

there are people here who have all their savings with these guys???

[wB`]

WTF is that

there are people here who have all their savings with these guys???

its disgraceful....they did however buy gox.com so maybe they will come back and make things right for people who have lost everything

[biodieselchris]

If it's really 700k+ BTC ($350M or so) it'll be interesting to see how many years an investigation goes on for. Every txid is public so eventually someone somewhere will do something stupid, and so it will begin, one of the best episodes of non-fiction real-life drama you've seen yet.

[itsunderstood]

Double spenders have superior tech skills but are still thieving bags of shit.  So, there really is no community, just collective greed and feeble hope, but, that's enough for me to hold all coins long.

[ckoeber]

All I have to say is:

Wow, just wow.

Long term this makes BitCoin better though.

No longer wild wild west bullshit. If BitCoin is here to stay we need stability.

[BitPaulo]

how come people are still buying through bitcoinbuilder.. even at such a cheap price, isn't throwing money away??

[RoadTrain]

how come people are still buying through bitcoinbuilder.. even at such a cheap price, isn't throwing money away??

Because Gox's future is still not certain, some want to speculate on it.
The price reflects the risks associated.

[Pierre]

If it's really 700k+ BTC ($350M or so) it'll be interesting to see how many years an investigation goes on for. Every txid is public so eventually someone somewhere will do something stupid, and so it will begin, one of the best episodes of non-fiction real-life drama you've seen yet.

Gox should be able to identify every double withdrawal transaction they ever made, and they have IDs of all these customers.

[cAPSLOCK]

Gox should be able to identify every double withdrawal transaction they ever made, and they have IDs of all these customers.

Been waiting for someone to bring this up... dingdingding

[itsunderstood]

If it's really 700k+ BTC ($350M or so) it'll be interesting to see how many years an investigation goes on for. Every txid is public so eventually someone somewhere will do something stupid, and so it will begin, one of the best episodes of non-fiction real-life drama you've seen yet.

Gox should be able to identify every double withdrawal transaction they ever made, and they have IDs of all these customers.

They said:

1: Double spend going on for [several] years
2: From unverified accounts

Yeah, it's basically like a bag of pus that exploded.  I mean they could have been honest long before running their stupid inflated 1000 price, I mean everyone wondered wtf are they doing?  Now it's clear.  I mean deleting the website and twitter feed?  It's like CLANK the ass end just dropped right out.

Lawyers will save the world!  Yay!  Go get em boys!

[Hawkix]

They have IP logs, and forbid TOR access. Its bullshit and poor excuse for internal fraud. I hope they will get what they deserve.

[MikeH]

so they couldn't even find the time to write a script to check balances against accounts to ensure they aren't leaking bitcoins.

[tvbcof]

They have IP logs, and forbid TOR access. Its bullshit and poor excuse for internal fraud. I hope they will get what they deserve.

I suspect they've been nothing more than a honeypot for about 10 months now.

[Zarathustra]

http://blog.coinbase.com/post/77766809700/joint-statement-regarding-the-insolvency-of-mtgox

Wow.  Good on the community for getting out in front of it, a stand-up lot.

Where is sturle?

Goxxed and sturled.

Congratulations to all the 'victims' who listened to the cheerleaders of those criminals.

[mp420]

I actually can believe them losing the 700+kBTC. BTC is easy to lose.

However, I do think they have more than $20M on their bank accounts. Fiat is not easy to lose, at least at those volumes. The business looked like it was very profitable. At least there has to be an explanation of where did all the money go.

[smoothie]

I have quit reading this thread due to high volume and very low signal to noise ratio.  Just stopping by announce that my 10k EUR withdrawal from January 4th changed to pending today, and will arrive tomorrow.  I have cancelled my other withdrawals to buy BTC.

@Sturle,

So how is that "low signal to noise ratio" working for ya?

Seems what most of us here have suspected is that MTGOX is insolvent and now their twitter....gone......their site....gone.....and Mark....well you know the rest...

So much for me getting that letter to you from my mother eh?

Looks like your calls and support for MTGOX were either misled or you knowingly shilled for MTGOX.

Please try to spin these recent events to sound like MTGOX is "all good" and is "a-okay!".

Unicorns, candy, and rainbows please!

 

[smoothie]

http://blog.coinbase.com/post/77766809700/joint-statement-regarding-the-insolvency-of-mtgox

Wow.  Good on the community for getting out in front of it, a stand-up lot.

Where is sturle?

Goxxed and sturled.

Congratulations to all the 'victims' who listened to the cheerleaders of those criminals.

I just quoted his last post in this thread above.

I am curious to how he is going to spin this to make MTGOX still sound "legit".