When I read the news about Mt GOX, $460 Million worth of Bitcoins “evaporated” by “hackers”. I suspected there was something fishy about the Mt.GOX coinbase Owners. But I did not have enough “evidence.” However I did write about the stupidity of all its so-called clients!
First, in the crypto world, if you do not hold it (privatekeys) you do not own it. Period. That’s a very basic about crypto-currencies, especially the Bitcoin. How on earth these people surrendered their private-keys of their Bitcoins to the CoinBase? Trust? or pure stupidity?
At any rate, Why did not they mention the quantity of the Bitcoin were “stolen”? The number is 850,000 bitcoins and the dollar price at the time was USD 530!!! What is the dollar price of the Bitcoin now? or was even some months ago?
Did they report HOW “the whole system” was hacked? Did they report/investigate HOW this Mt Gox Coinbase was structured and HOW it “stored” and “process” data? Bitcoin is data, digital transactions. Nothing physical at all!
The only most important and unique feature of those data of digital transactions is the Private keys. Each client has their unique private keys of their Bitcoins. How these private-keys of all the clients were stored? These private-keys were stolen, so the thief/theives had all the bitcoins belong to those private keys!
Thus, The hackers? There was no hacker! I tell you now that It was the “CoinBase owners.” who robbed/hacked all the Bitcoins from those stupid Bitcoinners as the Bitcoin’s dollar price was low and THEY KNEW as every well informed Bitcoinner did at that time (2014) ( #Me too!!!) that the Bitcoin dollar price would go up and up very fast. Of course “the owners” bowed, wept, said sorry and COMPENSATED all the clients.
Think about this! The Mt.Gox “Guys” compensated out 480 millions for the lost of 850,000 bitcoins of their clients. Look at the current dollar worth of that amount of Bitcoin: 850,000 x 11,000=9,350,000,000! More than 9 billions US dollars! And at the price some months ago, It was (USD 19,000) . That means USD 16,150,000,000 .. more than 16 billions USD! The super crooks are laughing now!
Any way, I wonder, apart from the Fed as I pointed out sometimes ago, were these “MT Gox Guys” the ones who flooded these stolen Bitcoins out as the Bitcoin was USD 19,000 some months ago? It is very likely the case.
Remember that one person can have both multiple COLD -Wallets and multiple HOT wallets. Each wallet has multiple addresses. One person can have multiple Smartphones, PCs, each PC can have multiple IPs with multiple VPNs, multiple masked MACs… These CROOKS know how to use all these technological applications! Do they not?
I have no sympathy for those stupid “bitcoinners” at all. Yes I am speaking of them with contempt. They virtually gave away their Bitcoins. Bitcoin has had bad press because of their greed and stupidity. They deserve all that. But I don’t think they have learned anything at all.
Again, NEM coin in CoinCheck has been hacked Official: Japanese Cryptocurrency Exchange Hacked, $530 Million NEM Missing!!!
Do these people have brain at all?