3 ms·
"There was some weakness in the system, and the bitcoins have disappeared." They've "disappeared". Curious choice of words. Karpeles didn't say they were stol
by panarky 13y ago
"There was some weakness in the system, and the bitcoins have disappeared."
They've "disappeared". Curious choice of words.
Karpeles didn't say they were stolen, or misplaced, or destroyed. And he didn't say when the mysterious disappearing act occurred.
The most likely explanation is that Gox's crappy system lost the private keys to cold storage long ago, and they've been running fractional reserve since then, hoping to close the gap.
Transaction malleability was probably an insignificant fraction of the loss.
- bryogenic 13y agoTransaction malleability was probably just event that pushed the withdraws past where they could ever recover.
- strebler 13y agoThat's the first explanation I've read that makes any sense.
- fnordfnordfnord 13y agoAnother hypothesis is that the US gov't might be in control of the bitcoins having connected them to SilkRoad or teh terror-izm and have Kerpeles under gag order preventing him from revealing this.