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Question: Did Karpeles and his accomplices steal 850,000 coins?
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Author Topic: Did Karpeles and his accomplices steal 850,000 coins?  (Read 3690 times)
yrtrnc
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February 28, 2014, 10:59:33 AM
 #1

One of the biggest heists in human history! Do you think Karpeles acted on his temptations to steal 850,000 coins which would seem to be easy to get away with? Search your heart as a human being, put yourself in his shoes. 850,000 coins sitting right infront of you. No one will know if you take them! Do you think he did it? Maybe even pressured into doing it by drug overlords!

http://falkvinge.net/2014/02/28/the-gox-crater-crowd-detectives-reveal-billion-dollar-heist-as-inside-job/
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February 28, 2014, 11:02:28 AM
 #2

Probably. Even if it is just gross incompetence, it would be on such a scale that jail is justifiable.

There is no bubble.
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February 28, 2014, 11:07:32 AM
 #3

I think it could be true just based on the following:

If the theory is correct then it is quite possible the coins were already stolen in 2011. This was a time when it may have seemed a remote possibility that Bitcoin would go beyond a few dollars a coin. So insiders thought they would get a few million dollars. It was also a time when the idea of worldwide regulation, real government interest, etc. might also have seemed unlikely. In fact if anything it might have seemed like Bitcoin did not have that much longer to go. So why not steal them? It was the real Wild West, it could easily be blamed on hackers, and it was a relatively small amount of money.

Any insider considering stealing 750k Bitcoins today would have to think a lot harder about it!

                                                                               
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February 28, 2014, 11:08:16 AM
 #4

Probably. Even if it is just gross incompetence, it would be on such a scale that jail is justifiable.

I think the opposite. They were nicked in 2011, when worth a lot less but when the crime seemed a lot easier to cover up.

                                                                               
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February 28, 2014, 11:12:51 AM
 #5

Probably. Even if it is just gross incompetence, it would be on such a scale that jail is justifiable.

I think the opposite. They were nicked in 2011, when worth a lot less but when the crime seemed a lot easier to cover up.
Keeping things running as if nothing happened under that scenario would fall under incomprehensible incompetence. And probably fraud as well.

There is no bubble.
T.Stuart
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February 28, 2014, 11:16:48 AM
 #6

Probably. Even if it is just gross incompetence, it would be on such a scale that jail is justifiable.

I think the opposite. They were nicked in 2011, when worth a lot less but when the crime seemed a lot easier to cover up.
Keeping things running as if nothing happened under that scenario would fall under incomprehensible incompetence. And probably fraud as well.

...on such a scale that jail is justifiable.

That's what I am referring to - that at the time of the theft I'm sure that an insider would not think jail a possibility.

                                                                               
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February 28, 2014, 11:18:24 AM
 #7

So when he said 'more or less', what he actually meant was that he had lost more than 750,000 coins.
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February 28, 2014, 11:19:17 AM
 #8

C'mon, stop with the conspiracy theories. He lost the coins because he's an idiot. Plain and simple. Lack of even the most basic accounting by a company that didn't have the talent or expertise to be operating such a large enterprise.
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February 28, 2014, 11:19:52 AM
 #9

Probably. Even if it is just gross incompetence, it would be on such a scale that jail is justifiable.

I think the opposite. They were nicked in 2011, when worth a lot less but when the crime seemed a lot easier to cover up.
Keeping things running as if nothing happened under that scenario would fall under incomprehensible incompetence. And probably fraud as well.

...on such a scale that jail is justifiable.

That's what I am referring to - that at the time of the theft I'm sure that an insider would not think jail a possibility.
Money is serious business. Far more serious than, say, accidentally running over an old lady. You don't accidentally millions. Not without repercussions.

There is no bubble.
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February 28, 2014, 11:20:46 AM
 #10

I remember reading someone claiming that Mark at one point said something along the lines of there being a big secret that when revealed would have a huge impact on bitcoin (price). I cant recall who said it where, much less find a direct quote, does anyone know what Im referring to?
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February 28, 2014, 11:21:30 AM
 #11

So when he said 'more or less', what he actually meant was that he had lost more than 750,000 coins.

 Cheesy

                                                                               
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February 28, 2014, 11:22:39 AM
 #12

C'mon, stop with the conspiracy theories. He lost the coins because he's an idiot. Plain and simple. Lack of even the most basic accounting by a company that didn't have the talent or expertise to be operating such a large enterprise.

One does not simply "LOSE" 850,000 bitcoins!
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February 28, 2014, 11:29:38 AM
 #13

And here's the meme

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February 28, 2014, 11:30:54 AM
 #14

One does not simply "LOSE" 850,000 bitcoins!

It's not that hard.
Just write your code very bad -> rounding errors and with enough trades all your BTC are gone (if withdrawn).

Byteball address: EGDWSRI4TMS6EHSUB2ICWV7FGBFIQK2F
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February 28, 2014, 11:31:39 AM
 #15

Mark Karpeles can



Still, at least it's all over now. They can file for as much protection as they want but they have no assets! If they owned the office building then at least there would be some carcass to crawl over, but there's nothing. No brand to sell. No system to sell (because it was strung together with chewing gum and PHP). Nothing. I feel sorry for everyone that has lost from this. The 1 mil (and 500k verified) accounts are the only playing card they have.
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February 28, 2014, 11:33:22 AM
 #16

only one thing is certain - he is very thick.

you cannot own an exchange steal 700k coins and get away with it. I simply don’t buy that theory.

He simply screwed it up. He allowed double spending, he warmed up his cold storage, he took no caution and he had no expertise.

- or maybe the FBI has played a part in it - that I can believe.

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February 28, 2014, 11:34:06 AM
 #17

If not he is not directly involved I just have to say - how can Mark Karpelles remain so calm having lost so much money. What the fuck is in that coffee?
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February 28, 2014, 11:34:23 AM
 #18

Another possibility is the coins never existed in the first place. Karpeles could have naked shorted them in 2011 and was never able to cover.
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February 28, 2014, 11:37:39 AM
 #19

the coins never existed. He was selling bitcoins he didn't have.
ie Fractional reserve ponzi scheme.
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February 28, 2014, 11:39:39 AM
 #20

only one thing is certain - he is very thick.

you cannot own an exchange steal 700k coins and get away with it. I simply don’t buy that theory.

He simply screwed it up. He allowed double spending, he warmed up his cold storage, he took no caution and he had no expertise.

- or maybe the FBI has played a part in it - that I can believe.

Why can he not get away with it? Have you seen his smug face?

FBI? More like NSA or Japanese government!
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