GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Mt. Gox Files for Bankruptcy, $63.6m Debt, hacked $468 million

Sin_Vraal · 02-28-2014, 08:41 PM

Quote:

Originally Posted by AsianDivaGirlsWebDude

Sounds like the actual loss to the Mt Gox bitcoin holders impacted by the Mt Gox bankruptcy, and the subsequent public disclosure about the 750k lost bitcoins (fucked up enough), will be a lot less than the $468 million being bandied about by the press (they like to go with the largest most sensational figure).

$468 million was arrived at by multiplying the "current" value of bitcoin, and not the price which people actually paid for their bitcoins initially, which is all that they had to hard lose (the rest is unrealized value).

It still sucks, but the actual exposure from this debacle from what I've been reading is more like $110 million (and about a fifth or more of the lost coins supposedly belonged to the owners of Mt Gox themselves - which makes it even more amazing they didn't catch the problem as it was occuring).

Still a lot of unanswered questions about Mt Gox and Bitcoins.

ADG

very correct sir. in fact I suspect its even less, its been impossible to get out of mtgox for a long time.

but more to the point, that scum bag was likely in on it. either he knew about it and was hiding it, or he was part of it.

this is always the retirement plan of an shady payment processors.. probably couldnt get an offer for his biz of any reasonable (to him) value with all that debt. so he did it bandito style.