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A comment on Founder of crypto lender Celsius Network arrested, charged with fraud. Parent comment

Re:Founder of crypto lender Celsius Network arrested, charge... by reaperman on Thursday July 13, 2023 @01:32PM (#36712912)
You may be aware already, but if you replace Pokemon with Magic the Gathering cards this actually becomes almost unbelievably close to a true story (minus the SEC story arc). The first "huge" bitcoin exchange[0] was originally a Magic card exchange which got extended to support cryptocurrencies. "Mt. Gox" = "Magic the Gathering online exchange". If it hadn't been hacked it would likely be in Coinbase's shoes right now and then your hypothetical would truly be eerily accurate. But of course it was hacked, it was a trading card exchange dealing in cryptocurrencies -- a major hack was basically inevitable.

0: https://en.wikipedia.org/wiki/Mt._Gox

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Re:Founder of crypto lender Celsius Network arrested, charge... by Nuzzerino on Thursday July 13, 2023 @01:44PM (#36713131)
Mtgox was not run very professionally, so I doubt they would have lasted this long. I had to deal with them on IRC to get my money out. I was told that the person with the keys to get my withdrawal was “in the bathtub”. This was on the last day or so before everything was shut down and during the actual crisis, mind you.
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Re:Founder of crypto lender Celsius Network arrested, charge... by jack_pp on Thursday July 13, 2023 @02:10PM (#36713617)
When your house of cards comes tumbling down might as well take a bath to relieve the stress
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Re:Founder of crypto lender Celsius Network arrested, charge... by afterburner on Thursday July 13, 2023 @02:15PM (#36713701)
No one can bother you in the bathroom.
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Re:Founder of crypto lender Celsius Network arrested, charge... by hutzlibu on Thursday July 13, 2023 @04:11PM (#36715275)
I would say that is up for debate. For example in this case:

https://www.washingtonpost.com/archive/politics/1995/01/06/8...

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Re:Founder of crypto lender Celsius Network arrested, charge... by klyrs on Thursday July 13, 2023 @07:09PM (#36717334)
https://www.seattleweekly.com/news/fresh-grated-murder/
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Re:Founder of crypto lender Celsius Network arrested, charge... by sleepybrett on Thursday July 13, 2023 @04:36PM (#36715637)
"house of magic cards" maybe .. ba-dum-chaa
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Re:Founder of crypto lender Celsius Network arrested, charge... by fbdab103 on Thursday July 13, 2023 @10:00PM (#36718561)
After MtGox realized how much money they had lost, I would think that "in the bathtub" implied a significantly darker event than hygiene.
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Re:Founder of crypto lender Celsius Network arrested, charge... by jonathankoren on Thursday July 13, 2023 @01:50PM (#36713251)
As an old coworker of mine said when MtGox imploded due to fraud and/or just abysmal security, “What? Don’t you do all your banking at the comic book shop?”
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Re:Founder of crypto lender Celsius Network arrested, charge... by tinco on Friday July 14, 2023 @02:53AM (#36720323)
It would never have ended up in Coinbase's shoes. The founder is a notoriously bad programmer and business leader.

Even if he wasn't hacked he would've gone bankrupt because of his failing market manipulation bot that was making loss despite having full info to an exchange in the most over heated market of the past 50 years.

I don't think even A16Z would burn their money on MtGox.

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