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> no possible gain could come from trying to cover this up Unfortunately, there is a possible gain, at least from the viewpoint of the owner: Simply keeping th

> no possible gain could come from trying to cover this up Unfortunately, there is a possible gain, at least from the viewpoint of the owner: Simply keeping the business, and his normal life, running --- presumably hoping that a magical solution will appear from the clouds. (or to be try to be more charitable to him, maybe he hoped for a foolish new investor, or a dramatic change in bitcoin price) If that's what happened, it was irresponsible, very stupid, and certainly fraudulent, but many people have done similarly stupid things in similar situations. No matter what happened, that ridiculously long delay in reporting the theft is a most serious red flag, like you said.

jacquesm 11y ago
How would that weigh up against the possibility of recovering the funds?
- FatalLogic 11y ago
  >How would that weigh up against the possibility of recovering the funds? Maybe you're asking a rhetorical question, but historical precedent suggests the chance of recovering the funds in this sort of crime is really small. There have been tens of relatively big cryptocurrency heists like this, and but only in perhaps three or four cases that I know were funds recovered from the thief But, to again imagine the Cryptsy site owner's viewpoint, statistics and probability are no match for pure human desperation, so, if we believe the 'hack' story, then a desperate plan based on the ill-advised belief that the funds could be recovered from the thief is not totally unbelievable. Though it sounds even more unlikely because the owner only announced a public bounty yesterday, not 18 months ago when the money was stolen.
  - jacquesm 11y ago
    A 35% chance to recover your customers funds would seem to me to be a chance worth taking, but maybe you're right and that was what drove this decision. Seems terribly incompetent and I'd say they deserve to be personally liable for the loss if that's how it went down.
    - Coinhead 11y ago
      After months of no activity on those wallets, someone put some dust in them yesterday. What can that mean? If they found silk road coins, they can find cryptsy coins maybe, right?

jacquesm 11y ago

How would that weigh up against the possibility of recovering the funds?

FatalLogic 11y ago
>How would that weigh up against the possibility of recovering the funds? Maybe you're asking a rhetorical question, but historical precedent suggests the chance of recovering the funds in this sort of crime is really small. There have been tens of relatively big cryptocurrency heists like this, and but only in perhaps three or four cases that I know were funds recovered from the thief But, to again imagine the Cryptsy site owner's viewpoint, statistics and probability are no match for pure human desperation, so, if we believe the 'hack' story, then a desperate plan based on the ill-advised belief that the funds could be recovered from the thief is not totally unbelievable. Though it sounds even more unlikely because the owner only announced a public bounty yesterday, not 18 months ago when the money was stolen.
- jacquesm 11y ago
  A 35% chance to recover your customers funds would seem to me to be a chance worth taking, but maybe you're right and that was what drove this decision. Seems terribly incompetent and I'd say they deserve to be personally liable for the loss if that's how it went down.
  - Coinhead 11y ago
    After months of no activity on those wallets, someone put some dust in them yesterday. What can that mean? If they found silk road coins, they can find cryptsy coins maybe, right?