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Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
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Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#2Some info here: http://www.reddit.com/r/Bitcoin/comments/1z37zw/mt_gox_has_a...
"MtGox still has at least 200k BTC"
Here are the possibilities, as far as I can tell:
1) That information is inaccurate.
2) MtGox lost their private keys.
3) The private keys were kept in a bank vault, which was seized by a foreign entity like the US government at some earlier time.
4) MtGox stole the coins.
The management of MtGox knows which of these is correct, but they probably aren't going to say.
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#3"In the blockchain".
Assuming they weren't lost because someone forgot a password, all of the BTC lost / stolen in transaction malleability are traceable. Whether or not its feasible to check every transaction from Gox over the last few years and add up all the partial BTC is something I can't comment on.
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#4[deleted]
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#5I have to go with the following answer: in someone's pocket.
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#6With the possibility of getting down voted into oblivion.
The BTC lost/stolen are all available within blockchain/public ledger. Depending on who stole them, it would probably be distributed within multiple very smaller transaction.
It my be traceable, but likely unrecoverable, because this is a feature of Bitcoin. In other words authorities and forensic enthusiasts can find the BTC but they are most likely lost at the same time.
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#7Here s an idea..
Feds sized silk road and the Bitcoin wallets
If any was stored or transacted at MTGox this might be some of the amount of losses MTGOX is now showing but NOT ALL OF The lOSSeS obviously
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#8With the possibility of getting down voted into oblivion. The BTC lost/stolen are all available within blockchain/public ledger. Depending on who stole them, it would probably be distributed within multiple very smaller transaction. It my be traceable, but likely unrecoverable, because this is a feature of Bitcoin. In other words authorities and forensic enthusiasts can find the BTC but they are most likely lost at t…
I wouldn't be that pessismistic.
If people manage to identify people behind the blockchains, I strongly suppose that law enforcements, depending on countries where the theift physically is, can force the thieft to give it back without any modifications to existing laws.
I think we can catch him when he is going to want to laundry his bitcoins.
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#9Here s an idea.. Feds sized silk road and the Bitcoin wallets If any was stored or transacted at MTGox this might be some of the amount of losses MTGOX is now showing but NOT ALL OF The lOSSeS obviously
Bingo. The Feds seized their cold wallet somehow.
Mark has said repeatedly that Mt. Gox is under investigation and that he can't talk about it. There's a supposed IRC log from two days ago where he let it slip that he's under a gag order, saying two days ago "le gouv US ne veut pas qu'on disclose" (the US gov. doesn't want us to say anything)[0]. And he's said in public that he can't discuss the matter since he's under investigation.
So my guess is that the feds have seized his cold wallet as part of the Silk Road investigation, or even as part of the case against Mt. Gox itself, which was probably in a safety deposit box. They've already seized 5 million USD last year from Gox, why wouldn't they go after the Bitcoins, too?
And yes, the seized Bitcoins would not equal the number owed, but my guess is that they're the majority of them, say 80%.
If that's the case, account holders would have to petition the USD to prove they're not drug dealers and or tax evaders to get their money back.
Re: Ask HN: Where are the 750k Bitcoins lost by Mt. Gox?
#10With the possibility of getting down voted into oblivion. The BTC lost/stolen are all available within blockchain/public ledger. Depending on who stole them, it would probably be distributed within multiple very smaller transaction. It my be traceable, but likely unrecoverable, because this is a feature of Bitcoin. In other words authorities and forensic enthusiasts can find the BTC but they are most likely lost at t…
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