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Author Topic: From reddit: MtGox might have lost control to the majority of their BTC deposit  (Read 4651 times)
CurbsideProphet
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June 22, 2011, 06:22:19 PM
 #21

Trolls, trolls, trolls. Run. Hide your children, trolls.

Ostrich, Ostrich, bury your head in the sand, Ostrich, nothing is wrong lalalala.

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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bitcoinBull
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June 22, 2011, 06:30:24 PM
 #22

Seems to me that MtGox still controls the balance, because the 432k BTC transferred on 6-19 were already consolidated on 6-12.  Either MtGox lost control on 6-12 (no evidence of that) or they still control it now.

It also doesn't seem that an attacker was able to withdraw any significant sum during the attack.  Looking at the bitcoinmonitor screenshot, the second-largest transaction was for ~10k BTC.  And inspecting the transaction for 10,020 BTC in block 131886, we can see that those 10k BTC eventually make it into one of the 50k BTC addresses into which the 432k is split up.

More evidence that MtGox still controls the BTC.


What does remain unexplained is how ~500k BTC were sold on the books.  That all ~500k sold were owned by one account whose password was cracked doesn't seem likely, primarily because ~500k appears to be more than the total sum of deposits MtGox controls (~432k + 10k and a bit more). 

The numbers don't back the explanation that it was a sell-off of one compromised account.  Possibly it was a sell-off of every account using their hashed passwords.  There was probably some bug/exploit in the order book system in addition to the leaked account table.

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bitrebel
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June 22, 2011, 07:12:53 PM
 #23

Anyone think Satoshi may have hacked Mt Gox to decentralize the coins they were hoarding?


and this is a separate consideration...


Doesn't it seem a bit fishy if Mt Gox (Mark) had 30 accounts with 50 bitcoins in each account from April 2009, and also started an exchange, then all this happens?



Why does Bitrebel have 65+ Ignores?
Because Bitrebel says things that some people do not want YOU to hear.
aral
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June 22, 2011, 07:17:56 PM
 #24

Anyone think Satoshi may have hacked Mt Gox to decentralize the coins they were hoarding?

This suggestion is outside the sanity envelope.

Doesn't it seem a bit fishy if Mt Gox (Mark) had 30 accounts with 50 bitcoins in each account from April 2009, and also started an exchange, then all this happens?

It's weird... really very weird. Goes back to your first point I guess.  How many people owned bitcoins in April 2009?  Satoshi and how many others?  Not many I guess. 
BitcoinPorn
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June 22, 2011, 07:21:19 PM
 #25

I can't wait for the movie of this shit.

InsertButtcoin
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June 22, 2011, 08:01:00 PM
 #26

I can't wait for the movie of this shit.

Who will play the role of Mark?
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June 22, 2011, 08:16:06 PM
 #27

Anyone think Satoshi may have hacked Mt Gox to decentralize the coins they were hoarding?


Well, now I do!  Grin
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June 22, 2011, 09:31:28 PM
 #28

Even more evidence that this is gonna end in a bank run when mtgox reopens and the price of btc plummets to nothing, sadly.

Sadly? onesalt, since when you've turned pro-bitcoin?
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