Mt.Gox SCAM? $38million disappeared. Large sums affected.

[jubalix]

I highly, highly, doubt Gox is going belly up. They handle an enormous volume both in trade and deposit/withdrawals. Obviously there is some sort of issue that needs to get solved. Maybe there is some sort of issue that only crops up with very large withdrawal volume. Either way, chill out. :-)

but this for fiat has been join of for 6 months now.

I'm sure they are near full fractional reserve now which is a polite way of saying not fiat no btc,which means no pro its tom trading either because taking 0.2% from fake fiat or fake BTC = 0 profit

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[bomb7]

I live in Japan so I though mtgox was the most convenient exchange to use. Well, it took them 2 months to verify my account, that`s how swamped and understaffed they were. That made me too suspicious to wire them any money.

Seems like they`ve just gotten way too big for the systems they had in place and don`t know what the fuck to do.

[bryant.coleman]

I live in Japan so I though mtgox was the most convenient exchange to use. Well, it took them 2 months to verify my account, that`s how swamped and understaffed they were. That made me too suspicious to wire them any money.

Hmm... they verified my account in 2 days, and I live outside Asia. Why your verification took so long?

[smoothrunnings]

This is why exchanges needs to stop running in hobby mode and get serious. I wouldn't be surprised if we see the price of bitcoin fall to a new low and that people who are on MtGox move away from MtGox all together and start using some of the other exchanges instead.

I am surprised there isn't a stick on exchanges and their overall rating on this form, so that it gives people an alternative look to where they can do their trading if they don't like the exchange they are using, such as MtGox who is fracked everyone over 38 million in bitcoin trading. If a normal exchange did this the securities commission would come down on them hard!

Bitcoin needs to become less as a hobby and more like a serious currency.

[punkrock]

A short video showing daserpent1 in front of his PC right now: https://www.youtube.com/watch?v=WwN5so86VNI

For everyone who wants to sell - watch this video and calm down: http://www.youtube.com/watch?v=ZTjyRu88PRE

[smoothrunnings]

I found this to be of interest:

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

Wow that's exact what Max Keiser has been saying about the exchanges. They simply don't care, Max believes the exchanges needs to change before bitcoin has the slightest change of becoming more stable.

Great story I recommend everyone read it. And if anything if you have bitcoins in MtGox I would take out of them, even if they are in cold storage. There are other places and other technology to put your bitcoins into cold storage.

[Sonny]

I found this to be of interest:

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

Wow that's exact what Max Keiser has been saying about the exchanges. They simply don't care, Max believes the exchanges needs to change before bitcoin has the slightest change of becoming more stable.

Great story I recommend everyone read it. And if anything if you have bitcoins in MtGox I would take out of them, even if they are in cold storage. There are other places and other technology to put your bitcoins into cold storage.

It is indeed pretty easy to set up a cold wallet with armory. 

[Mr. Gabu]

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.

[benjyz]

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.

pastebin? reminds me of the JA case. interpol = USpol.

[smoothrunnings]

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

"Q1. What is causing the withdrawal delays?
• Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.
• This has created problems with government agencies, and also with our banking partners.
• There are also some ongoing investigations, which we cannot talk about."

I think if this is the case and the banks and the governments are tying up their bank accounts it would be in the best of interest of MtGox to explain themselves as things could turn around more in their favor, instead of giving people their bullshit.

[smoothrunnings]

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.

So what does this mean? Interpol could be looking for Bill Gates for a we know.

This sounds more like a fear mongering attempt by you!

[benjyz]

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.

So what does this mean?

Edit: actually financial fraud is a reason some notices are issued, but it seems there is plenty of stuff going on behind the scenes. this happened before in Europe, where banks/governments effectively attack an exchange to spur a bank-run.

Q1. What is causing the withdrawal delays?

• Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.

• This has created problems with government agencies, and also with our banking partners.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/

info about interpol notices:

http://en.wikipedia.org/wiki/Interpol_notice

Currently 278 red notices outstanding, 160 issued by the US

http://www.interpol.int/notice/search/wanted

[glerant]

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

I would take that story with a pinch of salt! The guy can jump on a 16 hour flight from Australia but can't be arsed to upload a 30 second video clip from Gox Lobby to YouTube! LMFAO! 

[AndersAA]

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

I would take that story with a pinch of salt! The guy can jump on a 16 hour flight from Australia but can't be arsed to upload a 30 second video clip from Gox Lobby to YouTube! LMFAO! 

Good point A lot of creativity - very little documentation. Who jumps on a plane without an appointment? Does a trip from Australia to Japan really take 16 hours?

[smoothrunnings]

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

I would take that story with a pinch of salt! The guy can jump on a 16 hour flight from Australia but can't be arsed to upload a 30 second video clip from Gox Lobby to YouTube! LMFAO! 

Good point A lot of creativity - very little documentation. Who jumps on a plane without an appointment? Does a trip from Australia to Japan really take 16 hours?

Maybe the guys is one of the early investors of bitcoin that he's got a lot at stake, and flying out to Tokyo is just a drop in the bucket for him money wise. Not a lot of us are like that but some people are, and the ones who have had enough of MtGox BS I could see doing something like that. 

[jeliman]

hopefully Bistamp is not gonna have these kind of issues soon ....

[angrynerd88]

hopefully Bistamp is not gonna have these kind of issues soon ....

do not even tell, all my savings are there.

Anyway, why there is no angry customer going to Japan to "meet" Mt gox rich nerds? if i were an mt gox customer i would do that. I want to see the face of who is stealing my money.

[jeliman]

hopefully Bistamp is not gonna have these kind of issues soon ....

do not even tell, all my savings are there.

Anyway, why there is no angry customer going to Japan to "meet" Mt gox rich nerds? if i were an mt gox customer i would do that. I want to see the face of who is stealing my money.

exactly, there must be reward on their heads allready.....

However why keeping your money with online broker? Just buy BTCs, transfer it to your (one or more) wallet(s) of your choice and when selling (for fiats) do the reverse and transfer fiats to you trusted bank account.

[igorr]

MtGox is dead!

https://www.mtgox.com/press_release_20140207.html

[matt4054]

MtGox is dead!

https://www.mtgox.com/press_release_20140207.html

Yes and more precisely, here's where they jumped the shark:

To understand the issue thoroughly, the system needs to be in a static state.

Snapshot anyone?