repentance
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 15, 2012, 07:12:19 PM |
|
From what I read on this forum, genjix was already paying back the funds. He did pause this process because of the recent theft. As Patrick is now apparently gone, genjix should be able to pay back even faster. I think you guys starting to sue him will actually prevent this. Now we all will have to wait longer, if we ever receive anything. So suing now was most probably not the smartest move.
Amir has stated all along that the refund process was being handled by Patrick and Donald and that he had little to do with it. Patrick also openly said on here that people were dependent on him to get their money. Amir says that Patrick has now "walked away" but nobody is certain whether that means he's walked away from handling the claims process or whether he's walked away from Bitcoinica altogether. It's not fair to Amir to say that he should be able to pay back even faster when we know he had little involvement in the claims process before and that Donald was one of the people who delayed the initial refunds. It's not like Amir is now the only one in control of Bitcoinica records and funds and can do whatever the hell he wants. Whoever assumes responsibility for the refund process now is taking a huge legal risk. The Intersango guys are not accountants or auditors, and they probably shouldn't even attempt to continue handling the refund process themselves at this point.
|
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
|
|
|
flatfly
Legendary
Offline
Activity: 1092
Merit: 1016
760930
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 15, 2012, 07:18:49 PM |
|
From what I read on this forum, genjix was already paying back the funds. He did pause this process because of the recent theft. As Patrick is now apparently gone, genjix should be able to pay back even faster. I think you guys starting to sue him will actually prevent this. Now we all will have to wait longer, if we ever receive anything. So suing now was most probably not the smartest move.
Amir has stated all along that the refund process was being handled by Patrick and Donald and that he had little to do with it. Patrick also openly said on here that people were dependent on him to get their money. Amir says that Patrick has now "walked away" but nobody is certain whether that means he's walked away from handling the claims process or whether he's walked away from Bitcoinica altogether. It's not fair to Amir to say that he should be able to pay back even faster when we know he had little involvement in the claims process before and that Donald was one of the people who delayed the initial refunds. It's not like Amir is now the only one in control of Bitcoinica records and funds and can do whatever the hell he wants. Whoever assumes responsibility for the refund process now is taking a huge legal risk. The Intersango guys are not accountants or auditors, and they probably shouldn't even attempt to continue handling the refund process themselves at this point. a huge +1
|
|
|
|
rjk
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 448
Merit: 250
1ngldh
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 15, 2012, 10:23:38 PM |
|
As an observer, seems to me that Zhou Tong bears most of the responsibility for hacking together and making available that miserable contraption, without much regard for security...
Amir & Co. just got caught in the wrong place at the wrong time, and didn't back out, or take Bitcoinica offline and fix it, when it was wisest to do so.
The first hack was caused directly by negligence, because a server that was open to some members of the public was given access to Patrick's private mail server. My understanding if I recall correctly is that this oversight/error was caused by genjix. The second hack was either caused by the hacker pwning genjix's box and releasing the source under his name, OR genjix releasing the source himself without first scrubbing out stored passwords/API keys. Take that for what it's worth.
|
|
|
|
Ichthyo
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 12:46:00 AM |
|
As an observer, seems to me that Zhou Tong bears most of the responsibility for hacking together and making available that miserable contraption, without much regard for security...
Amir & Co. just got caught in the wrong place at the wrong time, and didn't back out, or take Bitcoinica offline and fix it, when it was wisest to do so.
The first hack was caused directly by negligence, because a server that was open to some members of the public was given access to Patrick's private mail server. My understanding if I recall correctly is that this oversight/error was caused by genjix.
The second hack was either caused by the hacker pwning genjix's box and releasing the source under his name, OR genjix releasing the source himself without first scrubbing out stored passwords/API keys.
Thats correct, as far as we got informed. But please put it back into context. - Patricks mailserver became the weak spot, because it was common practice in the existing Bitcoinica team to send root password reset mails to a mailing list; and it was possible to add further addresses just as one sees fit.
- the second hacker could only extract sensible access information from the source code, because it was in there (where it doesn't belong), and because someone used the API username as password in the central password exchange service, and someone else failed to consolidate the password management
Hey, you guys should really try to come back to a rational assessment of facts. You're absolutely turned on into witch hunt mode. Not that I approve what happened, but all I can see is about 6 folks working on the typical average level of (dis)organisation you find in every everyday's office. We all know that this isn't sufficient for securing a money processing system, but we also all know that the only way to get average people to work more reliably is to install procedures - procedures - procedures and yet more procedures. Just that kind of stuff everyone is quick to blame as "red tape" and "dinosaur economy" If the goal is to start legal action, you guys should learn first to switch off all personal emotions, and put together a list of objective failures, which can be proven to have led to causing the bitcoinica customers the finnancial losses we're suffering. We need facts and proves, not guesses, "conspiracy smells" and "impressions".
|
|
|
|
SMTB1963
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 100
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 02:07:37 AM |
|
You need at least 3 elements for a class/representative action. A court to certify that there's a cause of action; a court to certify the plaintiffs as a class (you need a minimum number of plaintiffs for this); and a defendant with deep enough pockets to pay the award being sought. In this particular instance, you're also going to need a court to accept jurisdiction. You will need to hire local litigation lawyers in each jurisdiction where an action is bring brought and you will need a means of funding that litigation.
[...]
One of the few rational posts in this thread. Only lawyers will win. Everyone simply lose.
This. I find it astonishing that anyone who has balances with Bitcoinica would even consider litigation as an option. There isn't a capable firm in any of the potential jurisdictions that will take a case like this on a contingency basis. Can you say "retainers"? Talk about throwing good money after bad.
|
|
|
|
Ichthyo
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 02:18:47 AM |
|
What exactly shall be the goal to be reached by legal action?Please clarify! - (1) we want to destroy Intersango exchange
- (2) we want to ruin Core credit finnancially
- (3) we want to destroy the reputation of Zhoutong, Tihan, Donald, Patrick and Amir and turn them into "persona non grata"
- (4) we want to destroy the economical existence of above mentioned people
- (5) we want to force those folks to collaborate with the police to chase the hacker(s) and put them in jail
- (6) we want to construct a case of precedence, so that in future no 17-year old entrepreneur without proper business education and governmental approvement can start a hightly profitable business.
- (7) we want to get our money back
Just decide on what the real goal should be. Then decide what strategy could lead us to that goal, and if it is feasible and likely to reach that goal. Plesase, folks, really do that, instead of guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing ...one hundred further pages in this forum....
|
|
|
|
Vod
Legendary
Offline
Activity: 3822
Merit: 3121
Licking my boob since 1970
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 02:20:54 AM |
|
What exactly shall be the goal to be reached by legal action?Please clarify! - (1) we want to destroy Intersango exchange
- (2) we want to ruin Core credit finnancially
- (3) we want to destroy the reputation of Zhoutong, Tihan, Donald, Patrick and Amir and turn them into "persona non grata"
- (4) we want to destroy the economical existence of above mentioned people
- (5) we want to force those folks to collaborate with the police to chase the hacker(s) and put them in jail
- (6) we want to construct a case of precedence, so that in future no 17-year old entrepreneur without proper business education and governmental approvement can start a hightly profitable business.
- (7) we want to get our money back
We want to make it clear we won't stand for the business owners to steal from us, directly or indirectly? How many of these cons do you want the community to endure before we take a stand? The money is already gone -make those responsible for losing it pay.
|
https://nastyscam.com - featuring 13 years of OGNasty bitcoin scams https://vod.fan - fast/free image sharing - cleaning it up! (240905) Will Theymos finish his $100,000,000 forum before this one shuts down?
|
|
|
teflone
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 02:30:22 AM |
|
What exactly shall be the goal to be reached by legal action?Please clarify! - (1) we want to destroy Intersango exchange
- (2) we want to ruin Core credit finnancially
- (3) we want to destroy the reputation of Zhoutong, Tihan, Donald, Patrick and Amir and turn them into "persona non grata"
- (4) we want to destroy the economical existence of above mentioned people
- (5) we want to force those folks to collaborate with the police to chase the hacker(s) and put them in jail
- (6) we want to construct a case of precedence, so that in future no 17-year old entrepreneur without proper business education and governmental approvement can start a hightly profitable business.
- (7) we want to get our money back
We want to make it clear we won't stand for the business owners to steal from us, directly or indirectly?
How many of these cons do you want the community to endure before we take a stand? The money is already gone -make those responsible for losing it pay.Amen brother..
|
|
|
|
kiba
Legendary
Offline
Activity: 980
Merit: 1014
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 02:36:06 AM |
|
We want to make it clear we won't stand for the business owners to steal from us, directly or indirectly?
How many of these cons do you want the community to endure before we take a stand? The money is already gone -make those responsible for losing it pay.
Do you have any proof of the fact that they're stealing from you? If not, the most you can do is "gross negligence" as to be practically criminal. Anything beyond that is just tinhattery. Remember, stupidity on an epic scale is really indistinguishable from malice.
|
|
|
|
SMTB1963
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 100
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 02:56:11 AM |
|
We want to make it clear we won't stand for the business owners to steal from us, directly or indirectly?
How many of these cons do you want the community to endure before we take a stand? The money is already gone -make those responsible for losing it pay.
So for you, it isn't really about recovering your funds...it's about attempting to exact a pound of flesh from the operators of Bitcoinica. Nice. I'm curious, how much MORE are you willing to come out of pocket to try to make your point? As repentance pointed out, international litigation doesn't come cheap.
|
|
|
|
BadBitcoin (James Sutton) (OP)
Donator
Sr. Member
Offline
Activity: 452
Merit: 252
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 04:27:07 AM |
|
What exactly shall be the goal to be reached by legal action?Please clarify! - (1) we want to destroy Intersango exchange
- (2) we want to ruin Core credit finnancially
- (3) we want to destroy the reputation of Zhoutong, Tihan, Donald, Patrick and Amir and turn them into "persona non grata"
- (4) we want to destroy the economical existence of above mentioned people
- (5) we want to force those folks to collaborate with the police to chase the hacker(s) and put them in jail
- (6) we want to construct a case of precedence, so that in future no 17-year old entrepreneur without proper business education and governmental approvement can start a hightly profitable business.
- (7) we want to get our money back
Just decide on what the real goal should be. Then decide what strategy could lead us to that goal, and if it is feasible and likely to reach that goal. Plesase, folks, really do that, instead of guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing guessing ...one hundred further pages in this forum.... 7, we are all for 7, we couldn't care less about anything else.
|
|
|
|
dopamine
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 04:35:42 AM |
|
I just want my bitcoins back, but if they plan on keeping them, then we have a problem
|
Bitcoinica still has not given me 50% of my claim of 600 BTC INTERSANGO can go down with bitcoinica for abandoning customers Alberto Armandi is a SCAMMER
|
|
|
repentance
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 04:58:36 AM |
|
I just want my bitcoins back, but if they plan on keeping them, then we have a problem
There's been no official statement to date about what their intention is regarding resuming the processing of refunds. Amir said he thought there'd be a forced reduction of 30% in refunds but obviously that isn't a decision Amir is able to make alone and if Patrick has walked away then who knows when Donald and Amir will be able to agree on a plan. I do think that it's time Donald stepped up to the plate and brought some clarity to the situation. It's unfair for Amir to always be placed in the position of delivering messages regarding the refunds when he's had minimal involvement in the process.
|
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
|
|
|
stochastic
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 05:34:40 AM |
|
I think anyone that was expecting to get their money back after the hack and this terrible processing of refunds was a bit naive, litigation should have been started at day 1. Of course they should pay back, but someone bought Bitcoinica for its brand. With the right investment the buyers of Bitcoinica could have opened a new bitcoin exchange, but they would have to compete with Bitcoinica. Now after 2 months of a delay in processing refunds with no real oversight on how or to who they pay back first (I wonder if those associated with Bitconica got their money out), the Bitcoinica brand is dead. If the Bitcoinica owners actually solved this mess, would anyone actually use a service called Bitcoinica? Of course not.
Now that the investor's money is dead and they have to start from scratch they have one solution: delay. The longer they delay the less likely people request their money back. First say the clients will get 50% back and see if they come back for more. For the rest take a very long time in refunds and make recovery efforts cumbersome. By delaying the investor's loss is not so bad.
|
Introducing constraints to the economy only serves to limit what can be economical.
|
|
|
Bitcoin Oz
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 05:40:57 AM |
|
I just want my bitcoins back, but if they plan on keeping them, then we have a problem
I havent heard anything that would say they intend to hand them back since the latest hack. None of them have posted anything wrt to doing that.
|
|
|
|
repentance
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 05:57:50 AM |
|
I just want my bitcoins back, but if they plan on keeping them, then we have a problem
I havent heard anything that would say they intend to hand them back since the latest hack. None of them have posted anything wrt to doing that. Their personal lawyers are probably horrified by the statements which have been made to date and and told them to STFU and not make any further comments without legal advice.
|
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
|
|
|
Serge
Legendary
Offline
Activity: 1050
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 06:11:11 AM |
|
I just want my bitcoins back, but if they plan on keeping them, then we have a problem
I havent heard anything that would say they intend to hand them back since the latest hack. None of them have posted anything wrt to doing that. Tihan hinted at legal action, don't count on any updates and resuming refunds until dust settles internally within those involved/responsible. Bitcoinica Consultancy most likely is seeking legal advise/defense at this point
|
|
|
|
Lethos
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 08:07:31 AM |
|
While I do not have anything invested or did not have anything invested in bitcoinica, I do have an interested in the outcome. Two very big exchanges are wrapped up in this and it massively effects our community both the more business side as well as from the side of the miners.
The exchange was clearly run in a way that was negligent in how lax they took their security, their is multiple examples of this expressed in this thread. From single point of authorisation, where double is becoming the norm. As well as passwords being found in source code available in the public domain and not changed for the live site.
Quiet frankly they made it as easy for the hacker, as hiding 1 key under the doormat and let him walk in unlocking the single lock on the door. Nothing stopping him afterwards from just going around and stealing anything he wanted after that.
I'm no expert in this, but in the insurance business I do know this, if the criminal managed to gain access because you left your doors open or left the keys available to him, they will blame you and you get no compensation. Very few small business have insurance for the same style of thing in the digital business, but the blame game works the same way. Their lack of security were entirely at blame, the same applies here, the hacker was just a opportunist who did his act, with so little effort, the blame is entirely upon the person(s) responsible for placing passwords into the public domain and to a smaller (but still important) whom should of put in place double authorisation for accessing the sites "main vault".
The sounds like the both of these issues, can be laid upon the original guys. But the "new" owners are also responsible for not fixing these glaring issues, if they had access and rights to do so.
I wish everyone the best of luck getting your bitcoin and/or fiat currency
|
|
|
|
lonelyminer (Peter Šurda)
Donator
Hero Member
Offline
Activity: 544
Merit: 500
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 08:14:27 AM Last edit: July 16, 2012, 09:09:28 AM by lonelyminer |
|
What exactly shall be the goal to be reached by legal action? Please clarify!
For people who do have deposits with Bitconica, to get their money back. People who do not have deposits with Bitcoinica, yet are potential future victims of theft, fraud or contract violations related to Bitcoin, can still benefit indirectly, because it could help them avoid or ameliorate these. EDIT: What I mean is that even people who do not have unrefunded deposits with Bitcoinica have a reason to support our effort.
|
|
|
|
naima53
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 16, 2012, 10:00:35 AM |
|
I had a loss in this $ 4260.16 , BTC 562.93 , have open position, I am pleased to join the process, but unfortunately I`ll could`t personally present at the process. I can provide proof of information. And ready to provide any help what I can.
|
Donate me) 16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2
|
|
|
|