Mt. Gox Bitcoin Exchange Down Amid $365 Million Theft Claim

[Purveyor]

By Carter Dougherty and Pavel Alpeyev Feb 25, 2014 11:53 AM ET

Mt. Gox, the Tokyo-based Bitcoin exchange that halted withdrawals this month, went offline as a document surfaced alleging long-term theft of about $365 million in the digital currency.

A document posted online that appeared to be an internal strategy paper said unidentified thieves stole 744,408 Bitcoins from the exchange -- about $365 million at current rates -- and that the theft “went unnoticed for several years.”

“The reality is that Mt. Gox can go bankrupt at any moment, and certainly deserves to as a company,” according to the document.

The document, which outlines plans for leadership changes, re-branding and a possible move to Singapore, was posted online by blogger Ryan Galt. A person briefed on the situation at Mt. Gox, who asked to remain anonymous because the document is private, said he believed it is authentic.

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‘Tragic Violation’

A group of Bitcoin-related companies sought to distance themselves from Mt. Gox, and promised to protect customer funds to promote usage of the currency.

more...

http://www.bloomberg.com/news/2014-02-25/mt-gox-bitcoin-exchange-goes-offline-as-peers-lash-out-at-firm.html

[upaloopa]

1. I won't say I told you so

Oh yes I will.
Why anyone would trust their money to strangers like these on line is beyond me.
The very idea that there are no regulations should tell you something!
PT Barnum said it best There is a sucker born every minute.

[yorgatron]

2. if I can't find a rusty old can full of bitcoin by accident, it isn't worth having.

also, hackers are going to steal all your money.