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Author Topic: MtGox "thought" a wallet containing 200000 BTC was empty ?? WTF !!  (Read 952 times)
Amitabh S (OP)
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March 21, 2014, 07:15:02 AM
 #1

This is definitely a wtf moment.

How can mtgox have "thought" that a wallet containing 200k was empty?

(announcement: https://www.mtgox.com/img/pdf/20140320-btc-announce.pdf)

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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ifritsultan
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March 21, 2014, 07:55:10 AM
 #2

Indeed this is just ridicilous and one should really warn the investigators about paying trust into the MT-Gox-Statements.
I have written him an eMail today and would highly recommend you to do the same.

The whole community was aware of that fact long before they even recognized it?
That is simply not possible...

Please send your warnings concerning the MT.Gox fraud to this guy:

http://www.noandt.com/en/lawyers/nbk.php
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March 21, 2014, 09:33:13 AM
 #3

This is the oldest trick, pulled out by all scammers since the very first bitcoin scam: the MyBitcoin eWallet.

1) Stop withdrawals
2) Take the service down and announce it was hacked and all the bitcoins are gone
3) Rage spreads amongs customers, later on despair takes over and finally customers settle in the acceptance phase
4) Suddenly announce that a portion of the coins were recovered (in the case of MyBitcoin, 49%; in the case of MtGox, 25%)
5) Customers are happily surprised as they thought it was all gone, and gladly accept the partial refund
6) Minimize legal actions & profit.

(wash, rinse and repeat)

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March 21, 2014, 10:29:44 AM
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This is the oldest trick, pulled out by all scammers since the very first bitcoin scam: the MyBitcoin eWallet.

1) Stop withdrawals
2) Take the service down and announce it was hacked and all the bitcoins are gone
3) Rage spreads amongs customers, later on despair takes over and finally customers settle in the acceptance phase
4) Suddenly announce that a portion of the coins were recovered (in the case of MyBitcoin, 49%; in the case of MtGox, 25%)
5) Customers are happily surprised as they thought it was all gone, and gladly accept the partial refund
6) Minimize legal actions & profit.

(wash, rinse and repeat)

Sadly, everythingseems to point to such a scenario, yes...
Either way, Karpales deserves to be in jail for his gross negligence while running a business of such magnitude
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March 21, 2014, 10:41:20 AM
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Its like that guy who pretends to not have money, I don't have small bills to tip the valet, I don't have money for diner I forgot my wallet at home, I cant pay my entrance fee to the strip club. 
Ten minutes later the guy is getting a private dance, oh yeah my wallet was in my pocket, you think the guy gives oyu money or buys your a drink, nope  Tongue
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