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

[rjk]

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.

Post it on your website.  You can have it be 30 pages long if you'd like. 

the limitations are not technical but legal...

Are you sure? They never actually came out and said that. They haven't said a whole lot of anything, to be honest.

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[imsaguy]

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.

Post it on your website.  You can have it be 30 pages long if you'd like.  

the limitations are not technical but legal...

They didn't say that.

edit: RJK is too fast for me.

[Serge]

this silence isn't encouraging much of confidence and trust in the future operation of Bitcoinica if they're planning to re-launch the service.

[dancupid]

I have several thousand dollars on bitcoinica, but I was never worried about losing this. I was more worried about it causing a price crash (which never happened to my amazement).
I'm still not worried (though I have been drinking)

[nrd525]

I only have US dollars at Bitcoinica.  I'm hoping that US dollar accounts were unaffected by this.  How were the US dollars stored?

[JusticeForYou]

I only have US dollars at Bitcoinica.  I'm hoping that US dollar accounts were unaffected by this.  How were the US dollars stored?

Seriously? Can't tell if a joke or not.

[rdponticelli]

Maybe someone from bitcoinica can at least collaborate with some joke?

Or there will be "limitations" for this too? 

[N12]

All the intersango are cowards. They don't dare to tell everyone what happened since the very beginning. They let Zhou tong talk for them. They just chose to hide and avoid the public.

no the owner of bitcoinica told them not to talk... if they do talk they might get sued by the owner of bitcoinica...

intersango and zhou should not be the target here... 

Correct. Intersango is just doing whatever the owner tells them to or NOT to. They are pawns.

The mysterious owner should be in focus here, and perhaps this Bitinstant guy who claims to know him. It is him who wants to leave us uninformed, not Intersango, not zhoutong.

[muyuu]

Maybe someone from bitcoinica can at least collaborate with some joke?

Or there will be "limitations" for this too? 

I'm afraid most people here wouldn't appreciate that kind of contribution.

[shad0wbitz]

no the owner of bitcoinica told them not to talk... if they do talk they might get sued by the owner of bitcoinica...

intersango and zhou should not be the target here...  

I disagree Goat. That would be fine except for this:

https://bitcointalk.org/index.php?topic=77958.msg867160#msg867160

Bitcoin Consultancy has been an influential force for bitcoin since its early days. Founders Donald Norman, Patrick Strateman and Amir Taaki are well known for their contributions to bitcoin open source, public outreach, and special efforts to encourage best practices in online security.

The Bitcoin Consultancy team will be responsible for the daily operations of Bitcoinica, including customer support, compliance and new features. We have some amazing improvements in the works that we know our customers will love.

Legally speaking, I don't care who owns Bitcoinica. According to their OWN press release, Intersango / Bitcoin Consultancy is clearly acting as the general partner since they are responsible for the daily operations of Bitcoinica PERIOD.

Why do you think they promptly took down their corporate website (bitcoinconsultancy.com) which included this original press release? Why do you think the sock puppet account where communications are coming is called "Bitcoinica Consultancy"? Because Bitcoin consultancy is legally obligated as the operator to clean this mess up. Clear and simple.

Bitcoin consultancy owns a major part of Bitcoinica. The fact that there is an "Angel investor" behind it does not hinder this fact.

Once again, I will sit tight and wait for them to deny what I am saying, and then I am going to upload some documents and emails in my possession.

Please stop been FOOLED about the "Mystery owner". Whether they put a nominee director on paper, or whether they got an angel investor, they own at least, that I know of, a very significant part of Bitcoinica.

[Mushoz]

Once again, I will sit tight and wait for them to deny what I am saying, and then I am going to upload some documents and emails in my possession.

They probably aren't going to deny what you're saying. They are just going to do what they've been doing the entire time: Stay silent.
Could you please upload those documents now instead of waiting? If it's true what you're saying, legal action should start ASAP rather than wasting more time waiting for announcements that aren't coming anyway.

[JusticeForYou]

  If anyone was/is going to take legal action, they aren't going to make threats about it in a forum. They will let their attorneys do the talking for them to the appropriate entity responsible. Usually that is anyone remotely connected to it. The lawyers sue everybody and let the judge weed out who is appropriate.

We might even get new case law: § 31.33.7 Bitcoinica sub(a) interesting trading platforms.

[Mushoz]

  If anyone was/is going to take legal action, they aren't going to make threats about it in a forum. They will let their attorneys do the talking for them to the appropriate entity responsible. Usually that is anyone remotely connected to it. The lawyers sue everybody and let the judge weed out who is appropriate.

We might even get new case law: § 31.33.7 Bitcoinica sub(a) interesting trading platforms.

I'm not making threats. I'm merely saying those documents, if real, could be very valuable for the people that want to take legal action.

[JusticeForYou]

  If anyone was/is going to take legal action, they aren't going to make threats about it in a forum. They will let their attorneys do the talking for them to the appropriate entity responsible. Usually that is anyone remotely connected to it. The lawyers sue everybody and let the judge weed out who is appropriate.

We might even get new case law: § 31.33.7 Bitcoinica sub(a) interesting trading platforms.

I'm not making threats. I'm merely saying those documents, if real, could be very valuable for the people that want to take legal action.

Seems to me that that is a threat in of its self. i.e. Take care of me or I'll release what I have.

Otherwise: You would just post them and let the chips fall where they may.

[bitclown]

Actually there is an easy way. Contrast this situation to when MtGox was breached last year. MagicalTux performed a transaction of  424,424.4242 bitcoins, as requested on IRC, to prove his control of funds.

I think it's safe to say that Bitcoinca have outgoxxed Mt. Gox this time. I'm almost beginning to sympathize with the cracker who attacked Bitcoinica because he hated Bitcoinica.

[Mushoz]

  If anyone was/is going to take legal action, they aren't going to make threats about it in a forum. They will let their attorneys do the talking for them to the appropriate entity responsible. Usually that is anyone remotely connected to it. The lawyers sue everybody and let the judge weed out who is appropriate.

We might even get new case law: § 31.33.7 Bitcoinica sub(a) interesting trading platforms.

I'm not making threats. I'm merely saying those documents, if real, could be very valuable for the people that want to take legal action.

Seems to me that that is a threat in of its self. i.e. Take care of me or I'll release what I have.

Otherwise: You would just post them and let the chips fall where they may.

Yes, I agree. But it wasn't me saying I had any documents. I was asking the guy who said he did (shad0wbitz) to release them if it's real what he's saying.

[tvbcof]

Actually there is an easy way. Contrast this situation to when MtGox was breached last year. MagicalTux performed a transaction of  424,424.4242 bitcoins, as requested on IRC, to prove his control of funds.

I think it's safe to say that Bitcoinca have outgoxxed Mt. Gox this time. I'm almost beginning to sympathize with the cracker who attacked Bitcoinica because he hated Bitcoinica.

Agree.  The crown has changed hands.  (In terms of the cracker though, it seems most likely to me that he's a run-of-the-mill criminal...and second most likely that he's a invention.)

Now, if Mt. Gox can pocket all the BTC they control and Mark can wander off smelling like a rose I'll consider him to have out-ZhouTong'd Zhou Tong.

[LightRider]

I think we can all agree that the real criminals are the people at JP Morgan who "lost" 7 billion dollars and counting.

Really, isn't 7 billion a way larger number than 18 thousand?

Let's keep things in perspective here.

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[hazek]

I think we can all agree that the real criminals are the people at JP Morgan who "lost" 7 billion dollars and counting.

Losing is part of investing and not that I think JPM are angels but the only problem I'll have with their loses is if they get some sort of bail out.

[nrd525]

>I only have US dollars at Bitcoinica.  I'm hoping that US dollar accounts were unaffected by this.  How were >the US dollars stored?

>>Seriously? Can't tell if a joke or not.

Not a joke.   There has been a lack of information for users whose primary assets are in US dollars.  Most of the discussion is centered on BTC and I'm wondering if US dollars are a different situation?

I guess the US dollars have to be stored in an account somewhere and are probably secure. But if they were on a credit card account or paypal, I'm guessing they could be compromised just like BTC could.  Although they should be returned by charge backs.

Were they storing the US dollars on MtGox?    If so, they could have been converted to BTC and withdrawn.