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Author Topic: Does Kevin Day have the 5 mil in bitcoins in his wallet or in his mt gox account  (Read 2041 times)
beeph
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June 22, 2011, 04:03:03 AM
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Did he actually get them into his private wallet or are they still with mt gox? 

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FlipPro
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June 22, 2011, 04:04:17 AM
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EVERYTHING IS STILL WITH MTGOX.


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June 22, 2011, 04:04:35 AM
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Did he actually get them into his private wallet or are they still with mt gox? 


he got them into his wallet, 1k$ worth of 1cent bitcoins
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June 22, 2011, 04:06:08 AM
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so 100,000 BTCs?Huh?

on mt gox the TV show, they said only a few bitcoins were lost.

If I were Kevin Day what would stop me from claiming 'my wallet got hacked'

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June 22, 2011, 04:08:27 AM
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so 100,000 BTCs?Huh?

on mt gox the TV show, they said only a few bitcoins were lost.

If I were Kevin Day what would stop me from claiming 'my wallet got hacked'

well the FBI raided his house and he was shot
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June 22, 2011, 04:09:13 AM
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so 100,000 BTCs?Huh?

on mt gox the TV show, they said only a few bitcoins were lost.

So if I were kevin day I'd just disappear or claim 'my wallet got hacked' hahahah


Someone correct me if I'm wrong, but my understanding is the transactions aren't completed until they have been 'validated'. IMO this is the whole point of mining..no validation - no release of bitcoins. Because the 'heist' was discovered shortly after it began, there would have been insufficient time to validate the majority of transactions.

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beeph
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June 22, 2011, 04:10:47 AM
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so 100,000 BTCs?Huh?

on mt gox the TV show, they said only a few bitcoins were lost.

So if I were kevin day I'd just disappear or claim 'my wallet got hacked' hahahah


Someone correct me if I'm wrong, but my understanding is the transactions aren't completed until they have been 'validated'. IMO this is the whole point of mining..no validation - no release of bitcoins.

mt. gox can't stop validatoins once the block is submitted to the network and it gets solved, its validated.. and noone can unvalidate it without approx 6 terahashes ATM.

so really the scope of this theft has been downplayed big time.  That 5,000,000$ is gone i mean into the hands of a private individual who will probably just disappear.

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June 22, 2011, 04:30:11 AM
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People completely lack reading comprehension.

Again.  For the zillionth time.

~250k bitcoins are with mtgox, they never left.
~650 bitcoins were transferred out by Kevin, and are now in a clearcoin account which is acting as escrow until this is all figured out


Why is this so hard to understand?  I really don't get it...

beeph
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June 22, 2011, 04:38:24 AM
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People completely lack reading comprehension.

Again.  For the zillionth time.

~250k bitcoins are with mtgox, they never left.
~650 bitcoins were transferred out by Kevin, and are now in a clearcoin account which is acting as escrow until this is all figured out


Why is this so hard to understand?  I really don't get it...



ah well that's clear... so this attack is really no big deal in the grand scheme... considering the size of the 'bitcoin economy' is in the millions of $$

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June 22, 2011, 04:38:27 AM
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People completely lack reading comprehension.

Again.  For the zillionth time.

~250k bitcoins are with mtgox, they never left.
~650 bitcoins were transferred out by Kevin, and are now in a clearcoin account which is acting as escrow until this is all figured out


Why is this so hard to understand?  I really don't get it...


It's not the trolls trying to push the currency down are the ones peddling the disinformation. Good post.

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dana.powers
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June 22, 2011, 06:23:33 AM
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it's also not clear yet that the 250K BTC on mtgox were actually "real".  plausible (likely?) that they were created out of whole cloth in the mtgox database by the attackers (UPDATE account_table SET btc_balance=500000 WHERE USER_ID=schmucko)
beeph
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June 22, 2011, 06:34:07 AM
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it's also not clear yet that the 250K BTC on mtgox were actually "real".  plausible (likely?) that they were created out of whole cloth in the mtgox database by the attackers (UPDATE account_table SET btc_balance=500000 WHERE USER_ID=schmucko)

if this were the case then this attack would have fooled the mt gox software into sending bitcoins from the mt gox wallet right?  Essentially stealing the bit coins from mt gox, not other users?

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June 22, 2011, 06:41:52 AM
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it's also not clear yet that the 250K BTC on mtgox were actually "real".  plausible (likely?) that they were created out of whole cloth in the mtgox database by the attackers (UPDATE account_table SET btc_balance=500000 WHERE USER_ID=schmucko)

if this were the case then this attack would have fooled the mt gox software into sending bitcoins from the mt gox wallet right?  Essentially stealing the bit coins from mt gox, not other users?

Yea, except that once again the coins (for the most part) never left gox.

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dana.powers
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June 23, 2011, 02:45:16 AM
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and, according to the reports from the week before, tux had moved the vast majority of deposited BTC's "offline" before the attack (~400K, I believe - there were a bunch of threads about the huge BTC transaction in the block chain).  So any attack withdrawal would have been limited at most to the BTC's that were not moved offline.  I assume that would have been some small percentage based on a calculation of the average daily withdrawals.
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