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Bitcoin Hack: bitcoin exchange Mt. Gox was the largest in the world-…
Bitcoin Hack: bitcoin exchange Mt. Gox was the largest in the world- 6/2011 was hacked & lost 850,000+ bitcoins, around 200,000 recovered, Mark Karpeles admitted weaknesses in system
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- How would the three different ethical frameworks have resolved the dilemma?
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Duty Framework
consequences
personal (e.g., yourself and immediate family
community (e.g., organization)
global (e.g., users and world)
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Virtue Framework
consequences
personal (e.g., yourself and immediate family
community (e.g., organization)
global (e.g., users and world)
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- How would I address the problem?
- What are the good and bad aspects of my decision?
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- Out of the three ethical frameworks, which do I most agree with?
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"most or all of the missing bitcoins were stolen straight out of the Mt. Gox hot cryptocurrency wallet over time, beginning in late 2011.
In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors
In April 2014, the company began liquidation proceedings
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"most or all of the missing bitcoins were stolen straight out of the Mt. Gox hot cryptocurrency wallet over time, beginning in late 2011.
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In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors
In April 2014, the company began liquidation proceedings
"most or all of the missing bitcoins were stolen straight out of the Mt. Gox hot cryptocurrency wallet over time, beginning in late 2011.
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In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors
In April 2014, the company began liquidation proceedings
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company employees voicing concern over customer's funds being used cover the estimated rise of operating costs for the company or staying silent and keeping their jobs
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profession- did not advance integrity and reputation of the bitcoin enhance profession with the public interest
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profession- did not advance integrity and reputation of the bitcoin enhance profession with the public interest
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management- leader didn't promote an ethical approach to management of software development and maintenance
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ethical dilemma: a situation in which a difficult choice has to be made between two courses of action, either of which entails going beyond the bounds of a moral principle.
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