Did Karpeles and his accomplices steal 850,000 coins?

[yrtrnc]

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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[Ibian]

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

[T.Stuart]

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!

[T.Stuart]

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.

[Ibian]

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.

[T.Stuart]

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.

[WompRat]

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

[uhoh]

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.

[Ibian]

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.

[Puppet]

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?

[T.Stuart]

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

 

[yrtrnc]

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!

[yrtrnc]

And here's the meme

[Richard Branson]

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).

[uhoh]

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.

[chessnut]

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.

[WompRat]

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?

[schizoid]

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.

[yrtrnc]

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!

[yrtrnc]

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?

Ha ha lol