Sad about MtGox

[kwukduck]

I wanted to reply to the "i loled @ mtgox" topic, but i thought i would share with you all the experience with MtGox i had over the past months.

As some of you may know my account was compromised at the time of the 2 exploits, right before the database got leaked. 23 Btc were transfered out of my account by a tor-ip to an account that is known to be a hacker account (same bitcoin address as in the allinvain hack), you can read up more on the specifics in that topic.


After much discussion they asked me what i found a reasonable solution. Since there is no hard proof on either side where the security issue went wrong.
After i proposed a 50/50 solution, i take 50% of the loss, they cover 50% of the stolen coins (11 btc!!!), it took again a few weeks to get a reply back where they told me they couldn't do that because i could be the hacker himself...
WTF..!? are they totally insane? i would make a drama over 11 btc if my 'secret hacker account' holds over 25000 btc?!

After this idiotic claim they told me they could offer free trading for a month and a free yubi-key, under the following conditions:
- File a police report.
- Submit my pc's for digital investigation by police.
- Send both the report and a copy of my passport to Japan.

Soo... here's how you handle this and get away with it...
1. Offer your client to come up with a reasonable solution.
2. Dismiss the solution with unfunded arguments.
3. Propose your own worthless solution under impossible conditions.
4. ?
5. Profit.

I just think MtGox is a really bad business solely out to make quick money and doesn't give a damn about it's users or bitcoin as a system.
So i'm very happy that TradeHill is now accepting SEPA transfers.

[djproject]

After this idiotic claim they told me they could offer free trading for a month and a free yubi-key, under the following conditions:
- File a police report.
- Submit my pc's for digital investigation by police.
- Send both the report and a copy of my passport to Japan.

Hah, that's adding insult to injury.  MtGox is a troll!

[shakaru]

Atleast you get replies to your emails. Mine are left unanswered and ignored. The only thing I was told I could do was because I publically annouced what the money I get from bitcoin would be used for, I can sue for damages, but even then they did their damage.

[jondecker76]

Your story is the exact mirror of my story, but I had 20.19 BTC stolen.. And, I reported it to them via their ticket system over 2 days BEFORE the news of the hack went public (this proves that I didn't just hear about the hack and try to get free money out of it)

Same thing, I had to try several times for them to even give me a response at all. In the end I was told the same thing as you were.  I will never use their exchange again, and believe me I will make it a point to let others know how shady MtGox is (and I do have some clout, as I feel that I'm a respected member of this community and also the developer of the Smartcoin miner administration system)

I too have been happy with Tradehill, though I haven't really done much trading lately.

Hopefully others take notice of posts like this and join one of the other exchanges so they don't get robbed like a lot of us did using MtGox.

[shakaru]

From the day trading reopend I started using TradeHill and am very pleased with the service I get. Wiretransfer is a little costly, but worth it. http://www.tradehill.com/?r=TH-R15767  Also, no limit from what I can tell unlike Mt gox

[smoothie]

I'm very sorry to hear about your troubles. I was more fortunate and was able to obtain all of my BTC and USD back after jumping through about 7 hoops they put in place following the week of the hack.

The whole "Yubikey" crap is ridiculous.

I still think their security system should be TOTALLY FREE and 100% safe from outside hack attempts. Charging users to have a "more" secure method of logging into their site is absolute crap and thus lies on the same level of how they have not been that helpful in sending you the funds you lost.

If I am not mistaken on the Bitcoin Show Mark said that all BTC/USD losses would be at their expense and not the users.

Anyway...hope you are able to get your BTC back in tact.

[repentance]

The idea that you can demand your local police perform a forensic examination of your computers just because MtGox wants it done is would be laughable if it wasn't for the fact that they almost certainly realise that the police simply won't do it and have therefore set you impossible to meet terms.

Perhaps MtGox users should demand to see the police reports relating to the MtGox hack and what forensic examination of MtGox's computers revealed about that incident...

[newMeat1]

You would think they wouldn't mind reimbursing 20 bitcoins when, even on a mediocre day of trading with the current low commissions, they're bringing in over $1,000.

I'll say that their security is much better recently, though

[bitclown]

The invisible hand will take care of their market dominance when the free trades ends.

[ctoon6]

don't bother filing a police report, they wont do anything.

I don't see why they neglect what they are paid for but that's what your stuck with after being taxed your whole life and when it comes down to needing they help they look the other way.

Your BTC is gone, and thats that.

[m0w3r]

I didn't realize that these things were (still) going on. 

 

[terroh8er]

Why don't they just make an Android app like World of Warcraft does? I'm not sure of the specifics of the Yubikey thing, but it sounds like the same thing and is free. I guess the latter part is why they don't want to do it.

[bbit]

"I wanted to reply to the "i loled @ mtgox" topic"

I started that topic and got jumped all over by people who don't stop to think. I have nothing against Mt. Gox just like the OP has said their business is a terrible business. If I had a magic wand I would want to make Mt. Gox the best exchange there is but the reality is they shouldn't even be in business. I guess this is why there are about half-dozen exchanges coming online with many more to come ....

[TeraPool]

"I wanted to reply to the "i loled @ mtgox" topic"

I started that topic and got jumped all over by people who don't stop to think. I have nothing against Mt. Gox just like the OP has said their business is a terrible business. If I had a magic wand I would want to make Mt. Gox the best exchange there is but the reality is they shouldn't even be in business. I guess this is why there are about half-dozen exchanges coming online with many more to come ....

What if you had a magic card? 

[bbit]

What if you had a magic card? 

touche! 

[wumpus]

Why don't they just make an Android app like World of Warcraft does? I'm not sure of the specifics of the Yubikey thing, but it sounds like the same thing and is free. I guess the latter part is why they don't want to do it.

Android is NOT secure. A separate device without internet connection is the only way if you want real two-factor auth.

[realnowhereman]

Why don't they just make an Android app like World of Warcraft does? I'm not sure of the specifics of the Yubikey thing, but it sounds like the same thing and is free. I guess the latter part is why they don't want to do it.

Even better, just use the open source google authenticator. It even implements a standardised protocol for one time passwords.