[Emergency ANN] Bitcoinica site is taken offline for security investigation

[imsaguy]

I have asked to be able to speak more liberally. We are still drafting the message

I hope it gets more thought than the claims page.

[shad0wbitz]

During this transition period we were hesitant to conflict with Zhou's statements, however we have decided that a clarification is necessary.

Much of the information available is misleading.  We will be issuing a statement later today to clarify the situation.

It seems that my earlier post triggered a sudden need to post some more vague nonsense form the folks at Bitcoin Consultancy / Intersango. If customers still have doubts about what I am saying, please take this as a sign. I am not at liberty to reveal my sources, but you can check my previous post on this forum stating that MtGox was experiencing some solvency problems, which was later admitted by Mark on the same thread.

The fact that I cannot (and will not) reveal my sources and / or further information does not mean that I am talking out of my ass. It seemed to hit a nerve at least that prompted a reply from them after a long silence.

By the way, watch this become the blaming game between Zhou and Bitcoinica. Bitcoinica Consultancy is already hitting at this on the above quote.

Much information is still needed. Why is the company website down? Why do the members of "Bitcoin Consultancy" needed a brand new forum account to speak about this issue instead of using their well-known forum accounts (deflect legal responsability?).

Also, note the name of the account: "Bitcoinica Consultancy" and NOT Bitcoin Consultancy. Why the sudden change?

So many FACTS to ponder ...

[Maged]

I don't follow...

[mb300sd]

This is starting to piss me off... I get that it might take some time to get things sorted out, but no communication for a week is unacceptable. At least give us an estimate of how long this claims process is going to take...

[ribuck]

the should update their website... www.bitcoincia.com no one should have ever posted in the forum, lulz

You could try the correct URL if you want a better chance of seeing any updates:
https://www.bitcoinica.com/

[rjk]

the should update their website... www.bitcoincia.com no one should have ever posted in the forum, lulz

You could try the correct URL if you want a better chance of seeing any updates:
https://www.bitcoinica.com/

Won't help for those using DNSSEC validating resolvers, which includes at the very least all of Comcast's userbase: http://dnsviz.net/d/bitcoinica.com/dnssec/

[bitcoinBull]

I have asked to be able to speak more liberally. We are still drafting the message

Thank you team for this update, however little. Very much appreciated.

[ashleyconnor]

In their defence, Intersango is still up and operational.

If it was them who bought Bitconica why would they incorp in New Zealand? They're mostly based in the UK and the original company I believe was in Singapore. It would have made sense to either stay in Singapore (best option IMO) or move back to Britain.

My second guess is that they didn't have the money to buy Bitconica. When they had their emails leaked it revealed their 5512 user base, which isn't exactly a goldmine; the leak made me question opening an exchange because I thought customer base would be too small. They even target the US market which I wasn't planning to do, which would have made my customer base even smaller than that.

Lastly, Bitcoin Consultancy website is probably down because it was on the Rackspace cloud servers before they got wiped. I assume they were in the process of consolidating things because it makes more technical and financial sense.

[Vladimir]

Guys, let make it clear. Intersango is just a contractor of Bitcoinica LP or Bitcoinica LP's owners. Yes it seems they screwed it up, but only those who do nothing do not make mistakes.

Ultimately, it is not Intersango's decision whether to return our money or not and and if return then when. It is Bitcoinica LP's decision. This is basically a question of whether Bitcoinica LP's owners want to cut their losses now or invest more money and protect their investment. As simple as that.

Considering how damaged Bitcoinica is now and that there are competitors springing up all around, it is quite possible that instead of paying up Bitcoinica LP will chose to close doors and/or sue Intersango and/or Zhou Tong for negligence. This is ugly. But since we are speculating while having not much information, it is a wait and see now.

[cypherdoc]

Guys, let make it clear. Intersango is just a contractor of Bitcoinica LP or Bitcoinica LP's owners. Yes it seems they screwed it up, but only those who do nothing do not make mistakes.

Ultimately, it is not Intersango's decision whether to return our money or not and and if return then when. It is Bitcoinica LP's decision. This is basically a question of whether Bitcoinica LP's owners want to cut their losses now or invest more money and protect their investment. As simple as that.

Considering how damaged Bitcoinica is now and that there are competitors springing up all around, it is quite possible that instead of paying up Bitcoinica LP will chose to close doors and/or sue Intersango and/or Zhou Tong for negligence. This is ugly. But since we are speculating while having not much information, it is a wait and see now.

that pretty much says it all.

[Transisto]

...
Much of the information available is misleading.  We will be issuing a statement later today to clarify the situation.

Watching !!!

[shad0wbitz]

I have asked to be able to speak more liberally. We are still drafting the message

Are you guys drafting the constitution? It's been what? 10 hours?

What a huge joke ...

[shad0wbitz]

And, by the way, who controls the "Bitcoinica Consultancy" sock puppet? Amir, Patrick? Would you care to enlighten us?

[imsaguy]

And, by the way, who controls the "Bitcoinica Consultancy" sock puppet? Amir, Patrick? Would you care to enlighten us?

It'll take another 2 weeks to get a response.  They're drafting their reply now.

[rdponticelli]

And, by the way, who controls the "Bitcoinica Consultancy" sock puppet? Amir, Patrick? Would you care to enlighten us?

It'll take another 2 weeks to get a response.  They're drafting their reply now.

You took the words of my mouth...   

[shad0wbitz]

And, by the way, who controls the "Bitcoinica Consultancy" sock puppet? Amir, Patrick? Would you care to enlighten us?

It'll take another 2 weeks to get a response.  They're drafting their reply now.

Perhaps we should be collectively "drafting" a writ of summons to the Financial office in NZ? might take us less time!

[Bigpiggy01]

And, by the way, who controls the "Bitcoinica Consultancy" sock puppet? Amir, Patrick? Would you care to enlighten us?

Not sure if serious. But just in case "The guy who pays them".

[Clipse]

...
Much of the information available is misleading.  We will be issuing a statement later today to clarify the situation.

Watching !!!

Bitcoinica Consulting / intersango doesnt use the atomic clock, they use the stall-for-long-enough-to-get-away clock so dont hold your breath.

[Bitcoin Oz]

*waits for bitcoinmedia to change to bitcoinicamedia 

[Bitcoinica Consultancy]

We had written a long post however we are prevented from posting it due to limitations. We are very sorry. We are trying to resolve this matter however we are limited in our capacities.