Episode
Ep 9: The Rise and Fall of Mt. Gox
30:53
Published: Fri Dec 15 2017
Description
Mt. Gox was the largest bitcoin exchange in the world. It suddenly went offline. What happened? Learn more about your ad choices. Visit podcastchoices.com/adchoices
Chapters
Summary
The CEO of Mt. Gox has broken his silence, following the recent theft of an estimated 744,000 bitcoins worth around $350m. There are reports that the CEO is in hiding and Japanese authorities are currently investigating the theft.
EpisodeEp 9: The Rise and Fall of Mt. Gox
PodcastDarknet Diaries
Bitcoin is a digital currency that can be bought through an exchange, and its transaction system is anonymous yet transparent.
01:39 - 07:40 (06:00)
Summary
Bitcoin is a digital currency that can be bought through an exchange, and its transaction system is anonymous yet transparent. Considering its cutting-edge technicality, trusting law enforcement to investigate might be hard.
EpisodeEp 9: The Rise and Fall of Mt. Gox
PodcastDarknet Diaries
Mark's unsecured personal computer was hacked and the thief managed to steal 300,000 bitcoins from Manncox.
07:40 - 15:56 (08:16)
Summary
Mark's unsecured personal computer was hacked and the thief managed to steal 300,000 bitcoins from Manncox. The thief offered to return the bitcoins in exchange for a small fee.
EpisodeEp 9: The Rise and Fall of Mt. Gox
PodcastDarknet Diaries
An attacker with right access to the database of a Bitcoin exchange made changes directly to it, altering account balances and attempting to wipe their tracks.
15:56 - 22:28 (06:31)
Summary
An attacker with right access to the database of a Bitcoin exchange made changes directly to it, altering account balances and attempting to wipe their tracks. The attacker was able to steal roughly 45,000 Bitcoins.
EpisodeEp 9: The Rise and Fall of Mt. Gox
PodcastDarknet Diaries
Jed McCaleb suggested a way to recover the funds lost during the Mt.
22:32 - 25:55 (03:23)
Summary
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.
EpisodeEp 9: The Rise and Fall of Mt. Gox
PodcastDarknet Diaries
Mark Karpolis, who had filed for bankruptcy with Mt.
25:55 - 30:13 (04:17)
Summary
Mark Karpolis, who had filed for bankruptcy with Mt. Gox, found a wallet in the old system with 200,000 lost bitcoins, while evidence showed that he had some of the bitcoins stolen from Mt. Gox, leading to his arrest on charges of embezzlement and fraud.
EpisodeEp 9: The Rise and Fall of Mt. Gox
PodcastDarknet Diaries
The host of Darknet Diaries has created a Python cheat sheet for those learning to program.
30:13 - 31:00 (00:46)
Summary
The host of Darknet Diaries has created a Python cheat sheet for those learning to program. The cheat sheet is a single page reference guide to the most common Python commands and can be downloaded from the show's website.