Mt.Gox and our money?

[vickychason]

So there are a lot of rumors about mt.gox being bankrupt but what I don't understand is even if it is bankrupt shouldn't we be able to get our money back? You can tell by looking in the block chain that money is still in your address.  Does mt.gox technically own our bit coin and can take them? Even if they had a huge theft and are bankrupt shouldn't people still get their coins if they weren't stolen?

Thanks

[CrashX]

You lost all you crypto most likely.

[CrashX]

CONFIRMED  Gox files for Bankruptcy, they stated that they have lost 1.35 Million Bitcoins

[whitenight639]

CONFIRMED  Gox files for Bankruptcy, they stated that they have lost 1.35 Million Bitcoins

how do you "loose"  coins that have millions of Public ledgers distrubuted around computers all over the world,

What are Gox's addresses? the Btc can be traced.

Gox's incompetence is truly epic, and how many times did mt gox get hacked before? why did you still trade there?

  

[TheNewAnon135246]

I read somewhere that he stated that they lost the bitcoins through a hack. Looks like he pulled a TF on everyone :/

[CrashX]

CONFIRMED  Gox files for Bankruptcy, they stated that they have lost 1.35 Million Bitcoins

how do you "loose"  coins that have millions of Public ledgers distrubuted around computers all over the world,

What are Gox's addresses? the Btc can be traced.

Gox's incompetence is truly epic, and how many times did mt gox get hacked before? why did you still trade there?

  

That's the same question, Bitcoin can't get lost. Unless they lost the private key to their wallet 

[vickychason]

Yeah thats what I don't get.  I can see my coins are still there they haven't been stolen so for people that still have nonstolen coins will they be able to get those back? Its all public so I don't get how all these coins were stolen because wouldn't people have noticed if their accounts had less bitcoin in them? And supposedly the theft was going on for years.  But for the coins that weren't stolen will people get those back?  Mine were not.

[darkmule]

Yeah thats what I don't get.  I can see my coins are still there they haven't been stolen so for people that still have nonstolen coins will they be able to get those back? Its all public so I don't get how all these coins were stolen because wouldn't people have noticed if their accounts had less bitcoin in them? And supposedly the theft was going on for years.  But for the coins that weren't stolen will people get those back?  Mine were not.

Those aren't real "bitcoins."  Those are just IOUs from Mt. Gox.  The thieves apparently stole (if we are to believe Gox) directly from the actual coins Gox had, and they had a so-called "cold wallet" that apparently just automatically topped off the cold wallet.  Allegedly, this went on for a lengthy period of time and these morons didn't notice until the money was all gone.  How this could conceivably have occurred without staggering incompetence or dishonesty is a mystery to me.

[Luno]

Yeah thats what I don't get.  I can see my coins are still there they haven't been stolen so for people that still have nonstolen coins will they be able to get those back? Its all public so I don't get how all these coins were stolen because wouldn't people have noticed if their accounts had less bitcoin in them? And supposedly the theft was going on for years.  But for the coins that weren't stolen will people get those back?  Mine were not.

Those aren't real "bitcoins."  Those are just IOUs from Mt. Gox.  The thieves apparently stole (if we are to believe Gox) directly from the actual coins Gox had, and they had a so-called "cold wallet" that apparently just automatically topped off the cold wallet.  Allegedly, this went on for a lengthy period of time and these morons didn't notice until the money was all gone.  How this could conceivably have occurred without staggering incompetence or dishonesty is a mystery to me.

I think vickychason is referring to the fact that his coins still are in the address he deposited them to at Gox.

[darkmule]

I think vickychason is referring to the fact that his coins still are in the address he deposited them to at Gox.

The poster referenced "accounts."  Technically, there is no such thing as a Bitcoin "account."

[vickychason]

Sorry I meant my address in my mtgox account.  I can see my bitcoins are still there so I don't get what will happen to them.  Also, what I don't understand is how for 7 years mtgox management didn't notice bitcoins were being stolen.  Also, how did people themselves not notice that their bitcoins were being stolen? Was mtgox putting bitcoins from cold wallets into peoples wallets that had funds stolen so people wouldn't notice? and then they eventually ran out of bitcoins? Because everything is public I just don't understand how people didn't notice earlier and also what will happen to the bitcoins that are still there!

Thanks

[bitcoinminer]

The short answer is you got fucked.

The long answer is you got fucked HARD.

[darkmule]

Sorry I meant my address in my mtgox account.  I can see my bitcoins are still there so I don't get what will happen to them.  Also, what I don't understand is how for 7 years mtgox management didn't notice bitcoins were being stolen.  Also, how did people themselves not notice that their bitcoins were being stolen? Was mtgox putting bitcoins from cold wallets into peoples wallets that had funds stolen so people wouldn't notice? and then they eventually ran out of bitcoins? Because everything is public I just don't understand how people didn't notice earlier and also what will happen to the bitcoins that are still there!

I am at a near total loss how things could possibly have happened the way Gox is claiming they did.  It is not exactly known for transparency, and now we know why.  There is no way what happened is consistent with even minimal standards of competence and honesty.

[Buffer Overflow]

I can see my bitcoins are still there so I don't get what will happen to them.

How? The website is down.

Also, what I don't understand is how for 7 years mtgox management didn't notice bitcoins were being stolen.

My guess is they were stolen years ago. Management knew fully about it.
7 years? Bitcoin is only 5 years old.

Because everything is public I just don't understand how people didn't notice earlier and also what will happen to the bitcoins that are still there!

People did notice things didn't add up at Mt.Gox for a long time. Some were quite vocal about it. Shame everyone ignored them.
I posted this last year for example:

I have my doubts if Gox will even exist a year from now.

The warning signs were very very obvious indeed. For those paying attention anyway.