mtgox fraud -- similar story today on finextra in "traditional economy"

[barrymac]

I couldn't help noticing the parallels with the mtgox heist in this story. So I'm posting just to remind people that the same kind of problems occur in the traditional economy as have recently happened with the bitcoin.

http://www.finextra.com/news/fullstory.aspx?newsitemid=22674

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[bodhipraxis]

I couldn't help noticing the parallels with the mtgox heist in this story. So I'm posting just to remind people that the same kind of problems occur in the traditional economy as have recently happened with the bitcoin.

http://www.finextra.com/news/fullstory.aspx?newsitemid=22674

Thank you for posting this story. I especially noted this line from the article you posted:

"....With multiple cases of ACH wire fraud piling up in the US, the rulings leave the critical liability issues open to debate. "

Again, I really appreciate your posting this article. We should assemble articles like these into a press kit for response to major tech media that are going to be covering the Mt. Gox hack.

[barrymac]

Yes indeed we should be collecting relevant stories. There would be a huge number of contenders I think! The trick is to float the most poignant to the top.

I saw one terrible article on forbes today which was claiming that the mtgox event meant the end of bitcoin. This is exactly the kind of opinion that needs some counter balance.

[hazek]

Check out this crap: http://consumerist.com/2011/06/how-hackers-stole-200000-citi-accounts-by-exploiting-basic-browser-vulnerability.html

mtgox was way harder nut to crack if you ask me, and these people handle billions imo