How should we deal with this Zhoutong/Bitcoinica situation?

[Vod]

So we just let a 17 year old kid steal $500,000 from us and do nothing? 

Kids don't bear responsibility for their deeds.

That's not true.  In a deliberate and planned theft of half a million dollars, he would be charged as an adult and probably spend 2-5 years in prison.

[Vod]

Anyway, I need to know Zhou Tong's real name.  Does anyone have that?

[ElectricMucus]

mfw I clicked on the most popular vote

[FreeMoney]

I can't believe that "make another thread" isn't winning.

[EnergyVampire]

So we just let a 17 year old kid steal $500,000 from us and do nothing?  

Kids don't bear responsibility for their deeds.

That's not true.  In a deliberate and planned theft of half a million dollars, he would be charged as an adult and probably spend 2-5 years in prison.

Probably more than 5 years...

-Conspiracy to intentionally cause damage without authorization to a protected computer is punishable by up to five years in prison.
-Intentionally causing damage to a protected computer resulting with a loss of more than $5,000 is punishable by up to ten years in prison and a $250,000 fine.  
-Possession of more than 15 unauthorized access devices is punishable by up to ten years in prison and a $250,000 fine.
-Aggravated identity theft is punishable by an additional two years in prison on top of any sentence for the underlying crimes.

This is just some or the possible charges in the U.S. alone.

And if the prosecutors can prove money laundering and/or aiding and abetting criminals or terrorist groups then it could get really ugly. If this is the case then imprisonment in Guantanamo Bay Detention Camp is on the table.

[Come-from-Beyond]

It's for 18+ y.o. adults.

[goodlord666]

I can't believe that "make another thread" isn't winning.

Because it's none of the options listed? .....

[BadBear]

I can't believe that "make another thread" isn't winning.

Because it's none of the options listed? .....

Voted complain some more, it's close enough.

[repentance]

So we just let a 17 year old kid steal $500,000 from us and do nothing? 

Kids don't bear responsibility for their deeds.

That's not true under most Western legal systems.  Possible punishments would vary dramatically by jurisdiction, though.

[bg002h]

So we just let a 17 year old kid steal $500,000 from us and do nothing? 

Kids don't bear responsibility for their deeds.

That's not true under most Western legal systems.  Possible punishments would vary dramatically by jurisdiction, though.

If I were running bitcoinica, I'd blame some kid too. I was rather taken aback at their deliberate attempt to make people believe that they know the one person who did it, rather than simply stating the evidence and demanding an explanation. Or better yet, to talk to the kid in private first and then go public with the findings. It's not just highly unprofessional to do it the way they did...it casts strong doubts on their motives. I don't think many people are paying attention to the deliberate attempt to sway opinion without argument.

[repentance]

If I were running bitcoinica, I'd blame some kid too. I was rather taken aback at their deliberate attempt to make people believe that they know the one person who did it, rather than simply stating the evidence and demanding an explanation. Or better yet, to talk to the kid in private first and then go public with the findings. It's not just highly unprofessional to do it the way they did...it casts strong doubts on their motives. I don't think many people are paying attention to the deliberate attempt to sway opinion without argument.

It wasn't Bitcoinica who released the information related to the alleged transactions by Zhou.  Mark said he tried to contact them regarding the information and they didn't respond.  Tihan says that when the information was brought to his attention, he told AurumXchange and MtGox to ask Zhou about the matter privately and that he doesn't believe Zhou is responsible.  Amir has asked people not to jump to conclusions based on the AurumXchange statement. There are a shit ton of reasons to criticise Bitcoinica, but they aren't the ones who came out accusing Zhou of the MtGox breach.

[Bitcoin Oz]

You forgot the option "Hire Tom Williams to run your exchange"

[repentance]

Funny, a few months ago everyone on this forum was sucking Zhoutong’s ass like it was made of ice cream and now he’s the Antichrist.

This happens with pretty much every new service.  It's hailed as the best thing since sliced bread and within months the discontent sets in and it's being labelled a scam.  Same thing happens with new payment methods.  This community has little capacity to learn from past experience, it seems.

[Phinnaeus Gage]

So we just let a 17 year old kid steal $500,000 from us and do nothing?  

Kids don't bear responsibility for their deeds.

That's not true.  In a deliberate and planned theft of half a million dollars, he would be charged as an adult and probably spend 2-5 years in prison.

Probably more than 5 years...

-Conspiracy to intentionally cause damage without authorization to a protected computer is punishable by up to five years in prison.
-Intentionally causing damage to a protected computer resulting with a loss of more than $5,000 is punishable by up to ten years in prison and a $250,000 fine.  
-Possession of more than 15 unauthorized access devices is punishable by up to ten years in prison and a $250,000 fine.
-Aggravated identity theft is punishable by an additional two years in prison on top of any sentence for the underlying crimes.

This is just some or the possible charges in the U.S. alone.

And if the prosecutors can prove money laundering and/or aiding and abetting criminals or terrorist groups then it could get really ugly. If this is the case then imprisonment in Guantanamo Bay Detention Camp is on the table.

I'm currently looking at getting 364 days (not 365) in jail and a $2,500 USD fine for driving with a revoked license. That's the max penalty, but I'm pretty sure I won't receive anywhere near that. Then again, I could be locked up with ALL those that copied movies from and to their VCRs.

~Bruno~

[Come-from-Beyond]

I'm currently looking at getting 364 days (not 365) in jail and a $2,500 USD fine for driving with a revoked license. That's the max penalty, but I'm pretty sure I won't receive anywhere near that. Then again, I could be locked up with ALL those that copied movies from and to their VCRs.

~Bruno~

Don't drop the soap Bruno.

 

[repentance]

Funny, a few months ago everyone on this forum was sucking Zhoutong’s ass like it was made of ice cream and now he’s the Antichrist.

This happens with pretty much every new service.  It's hailed as the best thing since sliced bread and within months the discontent sets in and it's being labelled a scam.  Same thing happens with new payment methods.  This community has little capacity to learn from past experience, it seems.

Amen Brother! Sister!

 

[Herodes]

What would be interesting would be to gather all the participants involved in a room, call on Hercule Poirot, which immediately would enter the room, stroke his mustache, look around and say: "Noone dares leave this room until the guilty party has been found!"

[check_status]

Rewrite Bitcoinica code slightly and repeat scam on future newbies

If anybody does this, I will become a black hat hacker, after watching some youtube vids on how to crack stuff with Backtrack, and pop that box.
You have been warned.

I'm currently looking at getting 364 days (not 365) in jail and a $2,500 USD fine for driving with a revoked license. That's the max penalty, but I'm pretty sure I won't receive anywhere near that. Then again, I could be locked up with ALL those that copied movies from and to their VCRs.

~Bruno~

I hope you brushed up on your chess skillz, they'll come in handy while your inside and don't accept any favors.