3 ms·
The loss became tradable on their exchange, the swap for equity was optional, their was also a token for for representing the return of the stolen funds that wa
by rabf 5y ago
The loss became tradable on their exchange, the swap for equity was optional, their was also a token for for representing the return of the stolen funds that was trading as well. Eventually the tokens representing the losses were trading for an equal value to the loss so if you were a little patient you were reimbursed. Alternatively if you took the gamble to buy the debt tokens at below dollar parity you made a nice return. Meanwhile MtGox users are still waiting for legal proceedings to conclude and get their money back.
- rabf 5y agoAfter the Mtgox hack mtgox debt was breifly tradable on website called bitcoinbuilder iirc. Financial innovation at its finest.
- arcticbull 5y agoThe exchange of the 36% of assets for the token is a kind of fraud called conversion. [1] That it happened to work out is honestly completely irrelevant. Just as Madoff wouldn't have gotten off scott free if he'd happened to find a way to make people whole. [1] http://www.dmlp.org/legal-guide/elements-conversion http://www.dmlp.org/legal-guide/elements-conversion