Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

$190M missing after crypto exchange Quadriga CEO dies

theglobeandmail.com

Post reply on HN
Print view View original

71–80 of 133 posts

Re: $190M missing after crypto exchange Quadriga CEO dies

#71

Post by celticninja »

bouncycastle wrote: post #55
tigershark wrote: post #36

The amazing thing is that BTC is still 3.5k after the countless money heist that happened. Actually I really thought that it was dead after Mt. gox. I guess that it’s Darwin at work here.

It actually works the opposite. Every time a heist or loss happens, coins are being removed from circulation, making all remaining circulating coins more scarce, thus more valuable in the long term (market takes a while to reflect this). In heists, the coins become tainted and very difficult to sell as everyone can see their origin. Mtgox removed quite a lot of BTC from the circulating supply.

No it didn't, those coins got back into the supply before the theft was reported publicly. I think the coins stolen from bitfinex are still sitting there so it does happen, just not with the MtGox theft.

Re: $190M missing after crypto exchange Quadriga CEO dies

#73

Post by blunte »

puranjay wrote: post #69

Crypto is a scam and the only reason anyone should partake in it is to either test your gullibility, or scam others. Anything that 4chan's /biz/ board promotes aggressively is a scam 9/10 times

Many plants in nature will kill you if you eat them, but can you say that "Plants are deadly to humans"?

It's a bit like money. Money itself isn't bad, but people do incredibly bad things to get money. Likewise, crypto isn't "a scam". People make a lot of scams related to cryptocurrency, but that doesn't mean many of the concepts of cryptocurrency are bad or a scam.

Bitcoin may be quite imperfect, but it's also quite useful for exchanging value quickly and cheaply, and without banks getting to decide if you can or cannot.

Re: $190M missing after crypto exchange Quadriga CEO dies

#74

Post by ijb03qv7 »

m101 wrote: post #68
alexcnwy wrote: post #67

Paywall but can read article if you stop the page from loading before the modal pops up

Remove the "Https://" bit and type in "www.outline.com/" and it should work here and on many sites like it.

No need to, really. Just prepend "outline.com/" to the full url.

    outline.com/https://www.theglobeandmail.com/business/streetwise/article-quadriga-cant-access-190-million-following-ceos-death-court/

Re: $190M missing after crypto exchange Quadriga CEO dies

#75

Post by londons_explore »

bouncycastle wrote: post #45
Dave_TRS wrote: post #32

Earlier quoted context omitted.

http://dayssinceacryptocurrencyexchangehaslostmorethan100mil...

Wait... What the??? Quote "BitGrail lost $170 million worth of Nano XRB tokens because... the checks for whether you had a sufficient balance to withdraw were only implemented as client-side JavaScript "

"top men"

Re: $190M missing after crypto exchange Quadriga CEO dies

#76

Post by londons_explore »

seibelj wrote: post #3

Edit - This is a conspiracy theory but it doesn’t mean it’s totally crazy - there is a good chance this “dead” CEO is still alive. Very shortly before his death he got his affairs in order and flew to India. Then it’s reported he died along with a death certificate from India. Now they can’t find $200mil in crypto and are not reporting the cold storage addresses. Would not surprise me if there has been massive fraud…

He could perhaps have been having trouble with his Chrones disease, so he got his affairs in order and went to India for potentially risky and expensive treatment, which didn't go well.

Re: $190M missing after crypto exchange Quadriga CEO dies

#77

Post by patio11 »

jen729w wrote: post #21

The company, which presumably has more employees than this one dude, never considered the fact that he was the only person who held the keys? C’mon. I’m smart enough to have given a friend my 1Password emergency recovery kit and, I tell you now, that ain’t worth $200m.

This was also true at Mt. Gox, FWIW, as reported by an employee that I find credible.

The sector is clownshoes. We should not be surprised by clownshoes behavior in it. There is a spirited debate on whether a putative financial firm with 9 figures under management perpetuated a nine figure control fraud or was merely markedly less sophisticated at accounting controls than the bookkeeper at my daughter’s kindergarten, that being the plausibly exculpatory option in crypto.

Re: $190M missing after crypto exchange Quadriga CEO dies

#79

Post by sho »

tiuPapa wrote: post #62
seibelj wrote: post #3

Edit - This is a conspiracy theory but it doesn’t mean it’s totally crazy - there is a good chance this “dead” CEO is still alive. Very shortly before his death he got his affairs in order and flew to India. Then it’s reported he died along with a death certificate from India. Now they can’t find $200mil in crypto and are not reporting the cold storage addresses. Would not surprise me if there has been massive fraud…

Not true. Things have improved vastly in the health administration sector, especially when it comes to records. Corruption is indeed rampant but I think most Indians themselves have a very Bollywood-y idea about how things happen outside of their circle. So for a foreign official, outright faking it would be tough, until its somewhere deep in the rural parts (with little connection to the outside world). I think its…

I'm sure they have improved greatly, which is wonderful, but it's still India, as you admit yourself:

> Corruption is indeed rampant

Are you seriously claiming you couldn't get a fake record in India for USD$1m? or even USD$100k? That is a lot of money for a doctor in India. I have a trouble believing it would be all that hard.

It was probably all organised before he even got on the plane.

Re: $190M missing after crypto exchange Quadriga CEO dies

#80

Post by Arnt »

Scoundreller wrote: post #58
n_t wrote: post #39

Earlier quoted context omitted.

https://en.wikipedia.org/wiki/Medical_tourism_in_India "India is cost-effectiveness, and treatment from accredited facilities at par with developed countries at much lower cost."

But will a Canadian that’s unfamiliar with the country be able to find it? (Serious question, I have no idea what the answer is).

Extremely easy.

I've been unwell in India, and had unwell children there. India probably sucks if you have no money, but if you have a white face or other sign of affluence, then getting to a physician or hospital is no problem at all, and the care is good.

Post reply on HN