 Stop stop broadcast first then start record Stop broadcast start record and then start broadcast. This is Edward Gell. I am Ed We are live. How do you say your last name? It's French, right? I'm I'm not a mark is over here. Sorry. He's taking a call right now. Okay, Mark's last name is pronounced Carpalos Okay, we're gonna call it a mark so anyway, we're broadcasting live. This is 10 p.m. Eastern time New York time on June 20th to a no, it's 11 a.m. Your time. I see the Sun's just coming up, right? So we can we finally get to put a face with an aim so I guess Mark's taking a call right now, but we Let's see They're not getting any volume. Can you hear me, Chris? Can you put the headphones on and tell me if you hear me coming through? You can hear me loud and clear. Okay. How about chat? Can you guys hear me? Nope louder. They need it louder They say they can't hear it Now it's too loud. All right, whatever. Okay, we'll see Who knows okay, you can hear me good. Okay, so Adam since we spoke last night. What's what has changed? Not much been working hard I know mark mark was saying that today what we're hoping to To accomplish is get users migrating back into their accounts getting Getting a new password set up that kind of thing when you probably won't be trading today But we're just working at getting Getting people migrated and then getting a new back end in place. So ETA on that I'd have to ask mark, but It's coming Okay, so what's your position there as people would ask? What's what's your role at not box? Yeah, so it's hired on She's two and a half weeks ago to to just start taking emails We saw mark saw a huge influx of emails coming in just suddenly and I was hired on just to try and handle and mitigate that Unfortunately, we haven't been able to keep up. I think everyone knows so right now email. I guess it's turning into some sort of Other role now where I'm talking to you guys, but yeah, primarily just communication Okay, so you just you were just hired on two weeks ago. So this is all new you were thrown right into the into the fire Yeah, definitely. I actually found mark on IRC. So I was interested in getting involved and yeah It was lucky enough to have an opportunity. So okay. Are you an American guy you sound American? Canadian Canadian same thing. Yeah One of the states so all right cool cool. And so were you already living down there or in Japan or? Yeah, I've been living here for ah, maybe eight months now. So not not that long still getting accustomed to lifestyle All right, so Let's see we've got a load of questions Probably people want to hear it directly from mark, but is he still on the phone there? Mark you yes available. He's available. There he is. Hey mark Nice to see you mark to put a face with the name. So The first question from the chat room is are you Satoshi? No Can you hear me no The chat room was are you Satoshi? Are you Satoshi? Not even close. Well, you look a little bit like a Satoshi. I don't know. I mean you're in Japan We know Satoshi's from Tokyo You're a madam. No, just kidding. So what's the What's the latest status with not gox right now give us the lowdown and what's happened The status right now is we are working on the account claim page So we will allow people to make claim for the account by providing informations like what's the last? Account they added money from we will review the claims if there is more than one claim for one account Which may happen or may not happen and Will allow people to get a new password and maybe email they want assigned to their account for Trying to see what we'll do for more complex case in the worst case we will ask for people to send us some Notarized proof They're actually the owner of the account like from bank statement or anything that can show they are the owner of the account Okay, so obviously if they have an email registered with the account that would help if they have static IP address that's a good good way to do it and What other than that? What like a transaction history if they have a record of their own transactions, sorry Are you having trouble hearing us Something yeah, just kind of blips in a note sometimes. Okay, that's Skype. I guess you're pretty far away now I'm saying so the methods that people can Reestablish their accounts right there's something wrong with the volume. Can you guys can you put the headphones on and check it out? Because they're saying they can't hear Everyone's saying it's too quiet. They can't hear Let's bring up the volume. So what they're checking on that So you're saying that They can identify themselves with their email address with a if they have the same IP address that they've been using or if they have some sort of Documentation to prove who they are. They're saying that's better. The audio is better Basically, we ask for proof of the account if there is only one person claiming one account, for example, the password is complex enough Or these kind of things we will be able to Let the people like the record immediately And if there is many people claiming the same account, we will need to ask for more proof base idea which will give a guy everyone enough time to claim their own accounts and we will Allow immediately people with Proves their account So this is the first issue that you have to deal with is because the passwords have been leaked and the accounts are Wide-open basically you have to prove the identity of each person who has an account and Someone in the chat rooms asking have you reported this as a crime to the Japanese law enforcement officials? Do we do we report this as a crime? Yeah, we report this as a crime. Do we report it in Japan? We report this in Japan to the GPC ERT Okay, and we report it to our security provider, which is Prolexic in US Which has direct contact with the FBI and other agencies around the world to wow Have they have they responded to you? Have they what what have they given you any status or update or what their plans are to what they're going to do about The main plan right now is to leave the server which was put in the high data as it is right now so We are putting priority and setting up the new system and migrating all the data And we're not challenging the same to the data on the old server Okay So and so what you're doing is you're going to you're creating a new server and You're going to leave the old server intact for any investigative purposes. Is that what you're saying? And basically we keep the actual server as it is so we make sure the logs and everything is still available We anyway, we don't want to keep using the old system since it's been proved to not be very secure So we roll out the new system we've been working on for the past weeks directly this week Right, okay, so I don't know if the audience is understanding but I'll just repeat what you're saying is that you are keeping the old system intact because in case there are For investigative purposes to keep it preserved in its current state and you're creating a new system Also because it's been proven obviously that it's been my great or what do you call it? Compromised and that it's not safe So you what what measures have you taken on the new system that you've done to make sure that it's absolutely clean and and safe Well, the first thing we need to know is the old system was created by the previous owner having mongo's which is Not really a developer is more like I did this at first things were working fine But there is a lot of problems with the system especially with the increasing load So as we could see there are some times trades cannot be done because of our trade line progress those kind of things The new system was written from scratch with absolutely no code from the old system and is made using best state-of-the-art Technique techniques. Yeah, a little bit more skill developer putting Putting into it. Yeah, you're building it there in-house or it's built in house and They're asking Will there be an audit log? What audit log? Yeah, there will be audit logs on various Security fritters where so plan to ask an external auditor to test the security of the new system as soon as possible Preferably before we open it To make sure everything is fine Okay, and when they're asking when will the claims site be available? Well, I'll say we want to do this this week this week. Okay, so we're putting the maximum to do this right now There is so some here should be noted. It's a grant the new new system is PCI DSS compliant to PCI D DSS DSS compliant. Okay, the security standard defined by the payment card industry which Provides various rules to make them something more secure Okay, did not gox keep transaction logs all along Do we keep transaction logs? Yeah, we will keep transaction logs. Okay, and Who are you going to allow to have access to the original server for the investigation besides just the authorities will it be publicly available Okay, so we will not allow direct access to the old server we keep it for to be able to provide logs on informations for the investigation, but any access to this system will need to go through us Okay, now they want to know who has certified PCI compliance The certified PCI like who's this? Japanese company which is working on this. It's a certified ACQ Out of Japan. No, yeah, it's in Japan. Mm-hmm. Okay, and how many bitcoins have been stolen from outgox in this incident? Do you know how many bitcoins have been stolen? Well, there is two things are people who have withdrawn bitcoins from their account because they bought We will cancel those those rates will not be executed again So those people will have with a negative balance But since they will not be able to withdraw before they correct the balance I wouldn't I don't think it's problem anyway on this side on the other side with accounts We were created for the purpose of buying bitcoins by the hackers But the other cons were not able to withdraw more than one or two hundred bitcoins yet Before we close the system So what would that what do you think do you have an estimate of what you think the total number of bitcoins that could we're actually taken out? as the actual number of bitcoins that taken out is under two thousand bitcoins under can still cover anyway if we need to and The total number of bitcoins the hackers have been taking out after doing the trade is much lower Okay, and then the What's your opinion about I mean, what do you have to say about Kevin? Kevin Day in Chicago who's the person who's saying that he he received Well, he's the one actually who benefited from being able to buy So many bitcoins at a penny a piece. He's you know, approximately five million dollars worth of Bitcoin at a penny a piece What what what are you gonna work out with Kevin? What do you think is? your Stance on that Well, it's a bit difficult question right now we have facts which are Limited we know he logged in before the attack About a lot of bitcoins For now, we don't know exactly what happened so we have asked investigators to look into this too But basically Anyway, there is no rule on empty goods which says we cannot cancel trades So we do not plan and do it this again or we don't plan do it it but in this case We have no real choice We need to cancel those trades Now who there's there's been a lot of speculation in the forums. I've been hearing about today You know conspiracy theories and everything else, but some people are saying that they've done, you know if the forensics on the Blockchain and they are they just they think some people think that The account that was hacked that had so many funds in it was actually your account a Mt. Gox account is is what do you have to say about that? Is that true? Ah It's not really something I can comment about right now since the investigation is still in progress on Anyway, we cannot Give information about who did a trade with will okay, and I mean we're there Was it just one account that was actually selling during this attack or was it multiple accounts now? The world sale may was made by one account One big sale transaction was from one account But you can't tell us who it wasn't Bill Gates No, I Think we would know it gets what's using because anyway. Yeah, I think so the price would go way up, right? All right, so but you can't comment on who it was and they're not coming forward obviously the We mentioned that it was an IP address in Hong Kong Right. That's all we know it was no is an IP address in Hong Kong that was there was that it hacked in is that right? The hacker was were they in Hong Kong a Hong Kong IP address that actually What yeah IP we saw was in Hong Kong, but it's most likely a proxy or something, right? Yeah, it doesn't mean they're in Hong Kong Yeah, exactly just like Satoshi is in Japan Someone keeps asking in the chat room. I can users identify themselves via drive mappings when making claims Drive mappings. I don't know they keep asking. I don't know why they keep asking. No, I don't think that makes any sense So Let's see. What what else do people want to know the I mean people are okay So the idea is you're going to set up See as you know, which Bitcoin addresses told Bitcoin were sent to so do you know what Bitcoin addresses stolen bitcoins were sent to? Yeah, we know the Bitcoin addresses. We are trying to make a full list So we can let other exchanges know about this You're gonna publish that for people for the public to kind of research it help research it Where was Pacific? Channel of communication between each other will allow us to provide these informations to other issues first Okay Let's see what other questions we have Okay, so what you're going to do is you're going to set up a Claim site where you can actually Identify yourself as the account owner you're going to force them to reset their passwords and then Everything is going to appear the way it did before the hack Exactly so it's effectively the same same result as a rollback But it's just actually a new system that you're not going to include these new transactions in basically It's the same idea, but a new more secure system and What are you? Is Monk ox taking a loss by doing this besides the time that you've been off-trading Not really We're not really taking a loss, but what we do is to provide It's to a security filter to every affected user we plan on sending for free for every user affected the one time password Device which we are currently working on which will protect with rose craze and if the users want even the login part Can you explain that again what kind of a device is it? Yeah, it's What we call a one-time password. It's a small device which provide password which challenge your minutes Oh, and that's like a physical device an electronic device that you're gonna offer That'll be optional, right? Yeah, that would be optional, but people we've been affected and wanted to be able to get it for free. Oh, okay all right and How many people Actually purchased bitcoins besides Kevin day, how many people purchased bitcoins that you think that you know an unfairly reduced rate That are going to be very disappointed about this rollback So how many people bought in it say like one center really well need to make the exact computation, but we are like 3000 trades we're going to cancel. We're not going to continue taking the new system Most were done by some same people. So it's difficult to say right now exactly how many accounts were affected But I would say something close to 500 or 1,000 Okay, and you're You're not going to try and prosecute Kevin day. Are you? Prosecute who? We will not prosecute anyone. Anyway, I don't think we don't have a hard proof We will however ask the investigation to look into this too, right? And And on the other hand aside from prosecuting do you have any Do you have any plans to compensate him at all for at least for his inconvenience of having Had a transaction that was completed, you know successfully according to the system and then have it reversed Obviously that hurts people's trust in the system, you know needless to say but You have any offer to compensate him, you know just for his trouble is inconvenience so that he doesn't You know I don't know so he doesn't feel too cheated So are we gonna are we gonna come and say them? I don't I don't think we're gonna I don't know if we can answer that right now because there's gonna be an investigation going on anyway, so You know it's not another question to say that we won't But you never know so we'll leave that open and just see what they find it address it later if we can okay, and What about the The accusations or claims or whatever that people Had or the hacker had complete access to the system for three days. There's rumors of that is that is there any truth to that? Investigation too, so yeah, it's okay. That's gonna come out later. All right, so what do you where does this leave? The customers of Mt. Vox. What do you what do you want to say to Mt. Vox customers? Definitely a sorry, you know, I think we In the in the days leading up to this, you know, there is there was a lot of people Reporting that there was issues with their accounts and things like that. We get that a lot and I guess Really in in hindsight we did what we could at the time, but we're resource-tied You know, maybe I'm not sure if Mark wants to comment But yeah, I'm not sure if you know We've looked into maybe the next time if if we need usernames and in emails encrypted if that's something that's possible But you know, we do we're obviously sorry and we're we're gonna try and make up for it. However, we can Make sure it will not never happen again And what about, you know, a lot of people are asking about terms of service that You know, these kinds of rules haven't been set in advance So that you know, people don't know that a rollback is even within the realm of possibility Are you gonna change terms of service and really explain clearly what the especially things like the you know with the withdrawal limits and the The idea that a rollback could happen You know, are you going to Come up with a better communication for the you know, the customer to see ahead of time and communicate with them ahead of time What the the policies are? I know that they're evolving a lot of things are changing You're obviously you're trying to keep up with the technology end of it. But how about Documenting what the policies are in advance in the terms of service or somehow in a clear concise way so that Users are not surprised Yeah The main thing we had is like we've been working on the terms of service for Two months right now. There is no terms of service basically The user is only the user and we can do what we want because we don't have any terms of service anything We're pretty nice for users anyway, so we are working on this. It's been like one or two months We've got lawyers fighting on this because even the Bitcoin status itself is not clearly defined. It's a low So there have been a lot of work on this it's not finished yet I Will try to get this finish as soon as possible in the meantime, what was Goes how was it right for the question? No, I will and something else to say, but I guess If you think of it you can you can come back jump back in if you remember the the question We've got a lot of questions. Obviously Can you guarantee that people's dollars and bitcoins will be there when they're able to log in? Yes, you will okay, so you want to tell the customers that? Not to worry not to panic when they are able to log in and prove their identity that they own the account They their dollars and bitcoins will still be there. They'll still be able to Withdraw them and what about Let's see The are they still going to have the same withdrawal limits is it a thousand dollars a day and Ten thousand dollars a month Yeah Policies will stay the same we base that just because we're in Japan. So nothing's changed there, okay, and also what about Okay, we said if they have an email address on file That's one thing if they have an IP address But what if they have no email address identifying their account and they have no IP address then the only way they're going to be able to Withdraw their funds as if they send you I mean, how can they identify themselves beyond that if their IP address isn't there and their email address isn't there How can you identify them? we can still identify them from the Previews deposits or withdrawals like for example if they did a deposit through Library reserve they can send a message through the batteries that we can verify came from the same account same thing for But for do that we can also do a few checks like asem to deposit like one cent and put a message with their account name or something and for Euro transfers we have their name when they do deposits to and same thing for the canada Australian deposits So we can verify the identity based on those kind of informations This sounds like a nightmare project for you guys because it's something at more than 60,000 users And is it just the two of you who are going to do this manually to verify those people? We try to make this automatic as much as possible We've got separate secure database with all the deposits informations which Are secure so it's a safe value system But we can make inquiries like we are provide a transaction ID and a name on the database reply if it's matching or not Okay, so for this kind of thing. We should be able to automate this as much as possible Hello people with no email, but we've got a secure password to Get access back to the account. So basically the password is complex enough containing symbols Later lower case uppercase numbers 20 characters or something They've got a lot of users which are like this. They will be able to get access to the account immediately That's nice one question about like how many accounts are you're gonna have to verify before you initiate trading? It's probably not going to be number of accounts, but we'll give time to everyone to get the account reclaimed So we're probably going to give like two three four days. Maybe okay, so everyone be able to reclaim the account and if we protest enough Claims we've been able to open trading again more questions from the chat room. They're asking What about the people who made withdrawals from outguks during the actual hack? Are they gonna get to just keep those bitcoins for free? Are you gonna ask for them to return them? We will not ask them to return the withdrawals But if the amount of funds they have on the account is negative They will not be able to raise money more until they solve the negative balance. Wow. They can overdraw their Mt. Gox account That's this is a modern banking Are you gonna charge them an NSF fee? No, I hope not SF fees no no NSF fees. That's good. Oh, thank God for that. Okay, and They're saying You know, what about the rumors that? Mt. Gox wallet was compromised. Is there any truth in that? No, in fact, we've got the Removes all the bitcoins to a specific secure location in the safe and we know all the coins are there and safe So there is no problem So when you there was a large transfer that we were talking about last night Adam is Adam, right? Yeah, I'm sorry Adam mentioned and And The that we you were saying was to move Bitcoin out of Mt. Gox That was not all of the bitcoins that were in Mt. Gox. Was it? We already got some coins which are already in secure locations where they only move the bitcoins was where online the online excess Okay, excess emit our excess bitcoins that you didn't need to have online. Okay, so that move To take them offline Did that happen during the actual hack or before or after the attack So those things were not secure Since we do not have enough information at this time the first thing we need is to move all the coins to a secure location. Oh So you saw the attack was happening and the first thing you did was move the secure the coins to a secure location Well, the first thing we did was to stop the website. The second thing we did was to move the coins Mmm, so you stop trading and then you move the coins. So that's how this happened right away Wow, okay 317 the morning here in Japan a good phone call waking me up. I Take the thing I saw it was a mess. So first thing we did was stop the site to prevent withdrawals on trading and then we check what happened and if you're If it's just the two of you, how do you monitor this when you're sleeping because when you're asleep normally? Assuming that you have some sleep there Are you able to how do you monitor this in the middle of the night? With people in Europe and in US were monitoring to one whichever way to call us Well, call me anyway at any time of day or night Any so they can just call you and wake you up anytime of the day or night Okay, all right, let me just take a break really quick right now because we do want to thank our sponsors Our sponsors that you know allows to be here first ambivert creative It's a m b i v e r t Creative comm ambivert creative comm accepts Bitcoin and they create your corporate identity for you They'll help you design your website your logo your stationery Everything to make you look like a real fortune for a company even if it's just a homemade website You've got a shopping cart or whatever They'll make you look first-class and professional and also Bitcoin bonus Bitcoin bonus comm is an amazing site That will actually pay you back in bitcoins Just for shopping online at all the places that you shop online anyway, so when you shop online Go to Bitcoin bonus comm first and check out the links They've even got best buy and all of the major buy that calm by that common all the major retailers And they're all there whether it's web hosting or whatever it is go to Bitcoin bonus comm They'll give you a kickback in in bitcoins, which is awesome Blue canary night light comm check it out. You're just gonna love this little blue canary night light It sounds so goofy, but you know the fact is it's really cool and they accept Bitcoin So support them blue canary night light comm and thanks to all of them We're here and also trade hill comm the new kids on the block You know helping Stabilize the Bitcoin world because I don't think anybody wants only one We want only one TV, but we don't want only one exchange site So trade is the first to say that they're kicking in their support for Mt. Gox, they they don't you know, they want only the best for Mt. Gox and they're very supportive of the entire Bitcoin community I think everybody is everybody's intentions except for the hacker of course Are good and so that's trade hill comm we thank them for their support to make this show possible. So The next question is coming in what about the making all the Mt. Gox addresses public so everyone can check that Mt. Gox does not practice fractional reserve banking the idea of full disclosure making it transparent so that You know, we know where the where the money is and how much money there is and and all that How do you feel about that Transparency Lots of people who don't want this so we've been working on the system that Would when not sure if it's right time to announce it anyway Maybe it is we've been working on a system that would work on parallel of Mt. Gox Which would allow decentralized trading It's a somewhat based on the Bitcoin system it use the same system of chain except Basically people in the transactions which are orders which are state which stay open Other people in its relation for completing these orders on miners with record transaction on store them in the chain So wall system is still being developed here will be needed to put this on hold for a while until we fix our site But that's one of the project we've been working on which would solve a lot of things and because all transactions on all Assets are visible in the chain It will be much more open for everyone to see what's happening Basically when someone wants to put money on this system They need to give the money to an exchange like mangox which will emit Money on this system which will be signed by mangox. So any buyer which trusts mangox will be able to trade with these people and Get their money back from mangox on their buy or sell So the whole idea is we will allow other trading platforms to also emit funds with their own signature And if people cross this company too, they will be able to see those trades and get money from them, too We're seeing this for this week this week Yeah, probably the end of the week like anyway, we'll announce the opening of trades at least 24 hours before it happens So everyone can get ready What we're doing is this like we're playing to do it right now, but we will open the claim site So everyone will be able to place claim for their account and get back access to their accounts Once everyone got a chance and we will give a few days for people who want to do this through notary or something to get back to their account We will open back trading so Take two days Based on past experience, so they get the notary's copies. They send through FedEx, DHL or anything and it gets here in less than two days Okay, and will you be still holding to what you said on your website as far as when you open up the $17 starting bids Well The thing we will do for this, we will see the price of Bitcoin based on other exchanges Only put buys up to the best amount So we'll restore all the buy the check cleared by the huge sell-off by the hacker We'll restore buys which up to a defined amount Yeah, so if you had an open order before the attack will you still have an open order? Yeah, if you had an open order, it could still be an open order if it's still closed enough to Bitcoin Unless when you claim you have an option to cancel all your open orders, too We have not been contacted by any authority at this point by anyone anyway, we know sacred everything Since we are a company we are legally believed to comply to anything that will be required to us But there is nothing required at this point We never heard anything from anyone and just to add on top of that when we do We're being very clear, you know, we'll vet those through our lawyers We're not just gonna Go willy-nilly and and poll logs and stuff like that. We have to make sure it's, you know, we're legally obligated obligated to Um, yeah, so If we are contacted by any authority, we will check the if this authority is indeed authority To make this request with our lawyers Um, well make sure everything is in order before answering anything Okay, are you gonna cooperate with any authorities at whatever government whether it's japan or the us or Any government at all Any request needs to be approved by the court of tokyo The close they need to make an international request and get the japanese government to agree And then you're assuming that it is uh approved by the court of tokyo, then you're gonna you're gonna Go along with that and give them whatever information that they that they request Yeah, I get you know, um, I would assume that if you know it's approved by the the courts here that we have to Yeah comply. I mean unless we want to go to jail. So Which I don't think we do All right Now let me ask you that what the draw limits that you have in place now that are 1000 per day and 10 000 per month without having Identity is that to comply with um some japan japanese law or us law or what? All right, it's japanese laws which concerns international cooperation on on demonet on the ring So basically japanese laws which are made to comply with International cooperation, which includes 40 countries including u.s. Moscow's in europe about money laundering Okay How do you think this whole event is going to affect mount gox as a business and and The community's trust in mount gox How do you think this will affect us going forward and trust in that in in what we do and It's difficult to say Yeah, hopefully we can win back any trust that we've lost. Um, you know, I don't doubt that a lot of people are Maybe gonna go to other exchanges in the in turn, but you know, um, try and learn from our mistakes and uh Make it better. Okay. And someone's asking can we close our open orders before trading begins? Yeah, when you claim back your accounts there will be a check box to ask for all open orders to be closed Oh, okay. We check it at the same time. So the orders will not be kept Okay, and someone's asking if we can clarify is the account claiming page going to be live today um Uh, because we're talking about wanting to launch it now or looking for clear confirmation on the time when that claiming page will be ready and and live Yeah, is it going to be live today? Yeah, I should have been live during the interview, but I cannot get two players at the same time. You've been erupting you, right? It would have been live if we weren't taking your time right now. Okay, so It's like really soon as soon as you're able to finish it and you're almost finished, right? Yeah, okay, and then you're gonna that account claiming page It's going to be up there for several days before Trading begins so there'll be plenty of time for people to claim their account Stop their open orders and even if they have to certify documentation and all that before you open for trading again Is that right? so How are we how are we going to decide how long we're going to leave it up? The the claim site the claim site will stay open after the site is back will leave it open for probably uh, two three four weeks and then we will include the claim system in the mount gods website So even if in the future we have other accounts. We are potentially uh Hacked we will block those accounts and put them for claim So people will be able to provide proof and claim the account back if they're at the proper order But two or three weeks you're gonna have it up two or two three weeks before trading begins Or because you were saying that trading will begin this week. You're hoping that trading will begin within a week So Page today like in 30 minutes or one hour. Okay, and people will start making claims First people should get back the account today tomorrow And if people cannot get enough proof they can send Proof which should be here like they get it Certified Tuesday they send it Tuesday evening. It's here by Well friday at was so I think maybe smart to Wait and see like, you know, we want a good amount of users if if something goes wrong Or you know, a lot of people have got to be doing manual requests. It might back things up Obviously, we're hiring. We're trying to get people in here to help us so But we want to get trading back up as soon as soon as possible Okay, someone's asking In the chat room regularity is saying will there be a stop-loss function before the reboot He says we need this for market confidence. You know what it means like some sort of a safety System they will automatically monitor in case the the market crashes too fast again. Will that be included in the in the reboot? Yeah, we're planning on a system that will prevent Such Gaze is the market most really a lot Uh, the system will send me an automatic call to wake me up if I'm not Mm-hmm things on will freeze funding orders since the new system as Order execution queue it would be possible Wait for the message we are then the whole system setting in order, you know, pros will not help you anymore And it could be much smooth when executing your orders So Not sure if I understood so If this the system was just going to alert you and you're going to manually have to look at it and freeze The activity And check into the status Is it won't be completely automated then it's just going to alert you Well, if there is really something wrong going On the system will stop the training and Ordered me or if I can't get all the people to do this to Maybe anyone can't do this And have you ever considered Like not doing it 24 seven just to kind of like Help you catch up or Help in any way Have you ever considered not doing it 24 seven? Now we start about it But the problem is since we are doing training worldwide If we choose a time to stop Uh, it's going to affect right some people in bad way some people in a good way So we cannot do a fair stops or anything So, um What what about the DDoS attack? So there's still a lot of talk about that What what have you done to prevent them? I mean that that was a A difficult situation We no use One of the biggest DDoS protector which exists out there, which is called Prodixic As they protect sites like visa.com on other sites And got quite a good lot of experience of protecting sites from DDoS attacks and um The do you have any idea who is behind it? Yeah, who's behind the DDoS? Oh, the DDoS. Well, we know who's behind some of the DDoS, but not all on even if I say who I don't know Like when the first DDoS we had We had an anonymous inmate from a russian Potential russian guy who asked us to send money to a Libertarian account really we asked it like he was he was uh Asking you to send money to prevent the DDoS attack like extorting it from you Asking to send money to stop the attacks Wow, still what we did is to move to Chief DDoS protecting host provider We worked quite nicely But got some troubles with larger DDoS with his provider. So we moved to Prodixic, which is a much Better solution Okay, and uh, do you someone's asking uh jiggled again? Funny name says do you think that reopening the site will cause another crash as people sell and transfer their money from mount gox Out of fear. Do you think that's going to cause a crash? I think uh, do you think it's going to crash when you open it back up? Uh, I don't think so It will go probably lower For a while at least but we should not forget that there have been some deposits too that are currently Uh frozen. So either those people will uh withdraw again Since they're from here anyways, they may buy too Anyway, we cannot predict exactly what people will do, but I don't think we'll crash that much Yeah, and the um The the website for the for the claims are are we going to uh announce it now? Are you going to wait and then uh, they'll see it on mount gox.com Where where will it be? Are we going to announce it now or do you want to? Wait until it's complete as a claim site will be on claim.emptygox.com You put that up, okay It's not here yet. We're working on this but it'll be here soon if you're watching live Not yet soon 30 minutes to an hour give them, uh, you know time to finish this interview and then finish the page But it's uh, https colon slash slash claim without an s just claim dot mount gox.com. Is it right? Okay, and uh, let's see When can I withdraw okay, will it will people be able to withdraw their funds as soon as they're able to log in Will they be able to withdraw? Yeah. Yeah. Yeah as soon as we verify verify the claims We will allow people to withdraw their cards and Get everything back if they want to okay So as long as they had an email address registered to their account they should be able to claim it immediately and log Not really no even if they have an email address since we cannot verify that email was a compromise or not We still require some more proof in Mosquitoes Okay. Yeah. All right. And so uh, does mount gox fear a legal crack down on bitcoins as a currency? Do we fear a legal crack down on? Well, the operation we are doing in japan is fully legal we've got Lawyers we should take this and we do not have any problem with japanese law As a problem with good aid is we may require to be registered from japan to the 40 something united states states Yeah, because we are looking into but this is mainly a problem because we have customers there Even if the united states is not happy with this they cannot do much But I mean if you're operating like if you have customers within the united states, um Are you bound by this those same laws? As a business that's operating within the united states or no Don't we fall under american laws because we've got customers there? No, that's a bit difficult by japanese laws We only fall under japanese laws, but by us laws There are some laws which apply to us even if we're not in us So since right now We're mainly where we are based in japan and I don't have much knowledge of the us laws We have lawyers looking into this. We'll try to comply as much as possible without compromising our users privately So anyway, we're working on this right now. Okay, someone's asking what about the uh To lock the exchange rate within certain limits for example, not to sell lower than 10 dollars Do you think that's a good idea or a bad idea to to artificially Um, kind of force the market to within a certain price Especially with the relaunch of everything I understand. I don't think we have any authority to Log the market to something. Yeah, that makes sense. I mean, it's a free market. That's the whole idea, right? Do you see any reason? Someone's asking I guess this is just total speculation But they're saying they want to know if you know if you can think of any reason behind the recent run-up in prices From eight dollars to thirty dollars of bitcoin at one point Uh, what did what do what do you have any speculation on why it went from eight dollars to thirty dollars? Uh, well, it's probably mostly due to news coverage both in u.s. And in europe News all of those interviews I've been doing. You mean yeah um And uh, are Someone's asking are you the only two employees that are working there? Well, we've been uh Looking for new employees and did a lot of interviews Before we had the program anyway And there are people who are planned to start soon We did have another person that Was supposed to start but if you can imagine they didn't think bitcoin was very stable So they uh, they wouldn't is on the contract. So it's been really it's been really difficult for us to get people In japan um that we can trust obviously trust is paramount So we want to have people here that can work out in the office. We've had a lot of people offering their their expertise from abroad, but uh, obviously that you know We don't want to we don't want to tread down that path right now. So so if any uh, if any uh, technical people are interested in Living and working in tokyo japan. They should contact you and what kind of skills are you looking for right now? For right now the email bins have been kind of what we need the most and then obviously i'm not sure on the development end If mark's looking for much We're looking for mainly right now People who can reply emails in english because Much more than we were expecting and so we've been hiring more people but The premise the number of mail has been growing faster than we've been able to hire Right. So yeah, consequently mark's had you know, he hasn't had enough time to work on the site and and those kind of things that are more important really Letting us get to email so And someone's asking i'm sorry Yeah, we were looking for development staff the the gentleman that we told you about that didn't you know, didn't want to work with us was Potentially someone we wanted to have developed so If you're working in japan and you know, you're legally allowed to be here. Please give us your resume Okay Someone's asking that this is an important question. I can't believe I forgot to ask Who stole the database? So what connection does it have to the flash crash? the uh, you know, I mean if it was a brute force attack to get in to to hack into one account how did they access the whole database and um And and why would they steal it and then why would they publish it any any theories on that? For the lows. No the oh for the lows. Okay. Okay. Yes the laws. That's a japanese word for those watching Yeah, I mean for the just for laughs you think, huh? Really just for laughs. No, I mean So is it is that the the story is that the auditor's um Personal computer was somehow stolen or compromised and he had a read only copy of that database that Had all the login information and encrypted passwords In it and and somebody somebody must have known That that had value It's almost you know, I mean somebody must have known that what he was working on It's very strange, right? Where can you tell us what? I mean, can you tell us the company that was that was doing this audit? Well, why is the investigation is in progress and We are seeing Seeing checking with our lawyers how we will seal them and what kind of thing we ask from them So we've been advised not to really mention any any names right now while this is going on And you did mention that it was off-site. It wasn't someone in the office. Can you tell us what country that firm was in? What can you can you elaborate on what country it was in? probably Maybe not. I don't know exactly what I can say. So I better not say too much. I know I'm pressing you Get an official statement Anyway, it was the only Place that could access the database in from outside here. So we've closed it We say told them we were not happy and that we will follow with our create lawsuits And we make sure this never happens again Right and when some people asking these crazy questions, but Um, it was offered the database was offered for sale. Apparently. Did you know that it was offered for sale when that first appeared? Um, I think The database itself was offered Every week for two to three five months. We've got a lot of like Lots of people claim they have the database take money and do not deliver anything It's not something new. So No wonder didn't take it seriously this time. It's also someone was asking if you had if you had uh offered to buy it when it Became up for sale, but um, that would be pretty silly okay, and um Do you know anything about this bitcoin 7 this new exchange site that sprung up? Do you have any I've seen the url. I've never went to it No, I don't know much about bitcoin 7 right now Uh, well, it's just and was like chance Okay, as a chance to create the option if they want so okay, so uh once again the uh, the website that they can go to is um Claim it's https colon slash slash claim dot mt gox dot com that'll be up within an hour or so and um We appreciate your time so much Yeah, I just wanted to say actually that you guys showing up, you know on video Think there's a lot for the community because I think that the community is going to be very resilient throughout all this And uh, yeah, there'll be people that want to go away But there's a lot a lot of people, you know want to still do business with you And it's great that you're taking the time away from the programming that you need to do to get it all back into place And to be here with us tonight And also that any business that we've done with you guys in the past has been You know great the responses on email is always good So kudos for taking the time to speak to the community face to face because I mean there's a lot of good that you're doing obviously That's very important. Yes. Yeah. All right. Well, thank you for that and speaking about you know, the community Maybe I'll give a shout out to uh To roger there. He's uh, he's the owner of memory dealers the guy. Maybe right people remember him from putting up the The bulletin board. Yeah, he's actually tokyo and he was cool enough to uh To bring some people over here and help us yesterday deal with the emails and everything that was going on So we've got definitely a good community and uh, we hope to to serve everyone better in the future So, okay. Yes. Thank you very much. Okay, so um, put that URL up on the screen and well Thank you guys for joining us and um, all the best. We'll we'll be in touch Okay, we're out of time. All right, so let's see you guys tomorrow tomorrow 2 p.m. Eastern Take care. Thanks guys. Thank you