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Occam's Razor here is that Karpeles stole the money himself. There is a _very_ rich tradition of Bitcoin service operators absconding with customer funds and bl
by SideshowBobb 13y ago
Occam's Razor here is that Karpeles stole the money himself. There is a _very_ rich tradition of Bitcoin service operators absconding with customer funds and blaiming "hackers". Inputs.io, Sheep Marketplace, MyBitcoin, Bitcoin Savings & Trust, and that's just off the top of my head. Most of these services were run by sketchy people who had been into Bitcoin from the earliest days when its only use was buying drugs and gambling on Satoshi Dice.
There's a clear financial incentive to abscond with customer funds, and the obfuscated and irreversible nature of Bitcoin makes stealing BTC the perfect crime. Mark clearly had the opportunity, motivation, and means to steal. This would also be fully consistent with Bitcoin history.
In my view, 90%+ chance Mark stole everything himself. Incompetence or legitimately was stolen from? 8% chance at best. Gag orders? I'll put it at 1%. It just didn't happen.
- aianus 13y agoWhat would have been the point? There's nothing he can buy with $400m in stolen bitcoins that he couldn't have bought with his couple million dollars in legitimate money. A mansion? A plane? 100 cars? How would he get away with it? It seems much much more likely he lost the coins due to incompetence, panicked, and tried to recover them by running a fractional reserve. Then transaction malleability happened, too many people tried to withdraw, and the jig was up.