So whatever happened with Mt. Gox?

[ShakyhandsBTCer]

there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...

cheers

It won't surprise me if this is true.

Certainly won't be the 1st broker to use customer's money to gamble.

This would make sense.
In fact, anything makes sense except the "we were robbed" story.
I simply don't believe that they didn't have the keys in cold storage.

I think that the management was simply incompetent. They had zero internal controls.

Well everyone has known that Mt.Gox was incompetent since early 2011.

I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.

This may be true but they were not aware of the level of incompetence. If people knew of the level of lack of internet controls a lot of people would probably not have trusted their BTC and cash money with them.

I think I remember reading something about the bankruptcy trustee doing an investigation as to what happened.

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[Harley997]

Yea, Mt. Gox was one of those places that even non-crypto currency persons may have come across or at least heard of.  Don't think they'll be able to make a come back with all the negative press that came out on them.

If a third party were to buy the company/site/name then they could do something good with it.

They would need to prove their security, competence and internal controls but it could happen.

In the days before it was "public" that gox had failed there was a leaked document that said one of GOX's assets was it massive user base, KYC'ed customer base and trading platform. 

[Este Nuno]

Yea, Mt. Gox was one of those places that even non-crypto currency persons may have come across or at least heard of.  Don't think they'll be able to make a come back with all the negative press that came out on them.

Yeah a lot of the uninformed public thought that Mt.Gox = bitcoin. And when Mt.Gox went down that meant that bitcoin was over. It was fairly big news when they lost the half a billion dollars worth of bitcoin or whatever it was.

I think using the same name in the future if another company took over the company would be a big mistake.

[waterpile]

C'mon guys Mt.Gox is already dead this topic should be closed

[Unluckyduck]

Ugh the claims process is so drawn out lol. Gonna be mid 2015 at the earliest before we start seeing some partial reimbursement.

[cinder]

It went to bust.

[Leina]

It went to bust.

Mark Karpeles committed fraud and claimed hack.

[ShakyhandsBTCer]

Ugh the claims process is so drawn out lol. Gonna be mid 2015 at the earliest before we start seeing some partial reimbursement.

It could happen earlier in the event GOX is sold to a 3rd party.