Chapter
Jed McCaleb's Email Leaked About Mt. Gox Scandal
22:32 - 25:55 (03:23)
Jed McCaleb suggested a way to recover the funds lost during the Mt. Gox scandal by making trades on the exchange between Bitcoin and fiat money, but it would require the trader to make reliable profits. Mark, CEO of Mt. Gox, wasn't a trader who could make profits, resulting in an additional loss of $50 million and 22,000 bitcoins.
Clips
Summary
Despite several unnoticed breaches, Mt. Gox maintained its position as the leading Bitcoin exchange. However, the company's failure to handle a legal dispute and a major hack led to its downfall.
ChapterJed McCaleb's Email Leaked About Mt. Gox Scandal
EpisodeEp 9: The Rise and Fall of Mt. Gox
PodcastDarknet Diaries
Jed McCaleb suggested to Mark Karpeles to make trades on his own exchange to shift liability between Bitcoins and fiat money as a way to recover funds lost, but required being a reliable trader.
24:09 - 25:55 (01:46)
Summary
Jed McCaleb suggested to Mark Karpeles to make trades on his own exchange to shift liability between Bitcoins and fiat money as a way to recover funds lost, but required being a reliable trader. Mark lost $50 million and 22,000 Bitcoins while implementing the internal trading mechanism that kept detailed logs.