3 ms·

I've loosely been following the MtGox fiasco, including previous hacking that revealed voice conversations, passport scans, etc. However, I don't quite understa

I've loosely been following the MtGox fiasco, including previous hacking that revealed voice conversations, passport scans, etc. However, I don't quite understand the context or ramifications of this leak. Could someone give a brief description? Much appreciated!

junto 13y ago
I took this away as a tl;dr Currency: BTC Balance: 951,116.21905382 <– That fat fuck has been lying!!
- bradyd 13y ago
  But in another part of the statement it says "We stole no bitcoins. There were none to steal.", which seems to contradict them having ~1 million BTC.
  - a_olt 13y ago
    The balance may have been obtained from the logs, rather than from actual funds stored in the wallets.
    - DrStalker 13y ago
      It's a DB dump, so this is exactly what it is. If they had the public keys to all Mt Gox's wallets whey would be able to check them for funds, but there would still be questions about who controlled the wallets and if they had found them all so it would still not be proof of fraud (but the more evidence collected the more likely there will be something confirm-able discovered)
- Danieru 13y ago
  It appears the hackers think it is a lie because all public statements I remember seeing and even the leaked "resurrection" plan talk about 0.7M BTC. There has been talk of a Wally trading program which is said to have be run by Mt. Gox to profit from the price imbalances. If this is true then the 200k might be Wally's account. Which would explain why Mt. Gox does not consider it real liabilities.
DrStalker 13y ago
It means they had a security issue that let someone steal their database. The DB shows they have lots of bitcoins and money available, but that doesn't mean anything because if they were hacked in the manner they described the DB would still show them as having bitcoins that they don't actually have. This means the information presented matches multiple scenarios including the bitcoins were stolen by Gox, the bitcoins were stolen by hackers and the exchange is still operational and fully funded. It rules out a hack that involved someone removing coins in a way that updated the bitcoin balance in the DB (such as password theft) but there was never any speculation that such an attack had occurred so that isn't helpful.

junto 13y ago

I took this away as a tl;dr Currency: BTC Balance: 951,116.21905382 <– That fat fuck has been lying!!

bradyd 13y ago
But in another part of the statement it says "We stole no bitcoins. There were none to steal.", which seems to contradict them having ~1 million BTC.
- a_olt 13y ago
  The balance may have been obtained from the logs, rather than from actual funds stored in the wallets.
  - DrStalker 13y ago
    It's a DB dump, so this is exactly what it is. If they had the public keys to all Mt Gox's wallets whey would be able to check them for funds, but there would still be questions about who controlled the wallets and if they had found them all so it would still not be proof of fraud (but the more evidence collected the more likely there will be something confirm-able discovered)
Danieru 13y ago
It appears the hackers think it is a lie because all public statements I remember seeing and even the leaked "resurrection" plan talk about 0.7M BTC. There has been talk of a Wally trading program which is said to have be run by Mt. Gox to profit from the price imbalances. If this is true then the 200k might be Wally's account. Which would explain why Mt. Gox does not consider it real liabilities.

DrStalker 13y ago

It means they had a security issue that let someone steal their database. The DB shows they have lots of bitcoins and money available, but that doesn't mean anything because if they were hacked in the manner they described the DB would still show them as having bitcoins that they don't actually have. This means the information presented matches multiple scenarios including the bitcoins were stolen by Gox, the bitcoins were stolen by hackers and the exchange is still operational and fully funded. It rules out a hack that involved someone removing coins in a way that updated the bitcoin balance in the DB (such as password theft) but there was never any speculation that such an attack had occurred so that isn't helpful.