I'm the Chairman of the Board of Directors for EBANK, one of it's three founders, and I developed the first public version of the software.I'll give props to the EBANK crew and the success they have had so far and their continued solvency since the theft. Its obvious a lot of people still have confidence in the organization and I give best wishes to the continued success of the corporation.
Now that we have that out of the way, I'll give you some things to think about.
Some of us have spent hundreds of hours working on EBANK code, policies, strategy, and operations. EBANK staff and directors have paid $400 out of pocket for hosting costs. We have completely parallel development environment logically and physically separated from our production environment with versioning control software to manage our updates and upgrades. Some of our people have handed out vouches redeemable for millions of ISK at FanFest. One of our staff was elected to CSM after developing the prototype code for EBANK. We have a person dedicated to auditing with access to everyone's full API. We have processed almost 6 Trillion in withdraws and handled 9 Trillion in deposits. (the difference comes from 1 Trillion in loans being issued and repaid).
So...after 2 years we had one internal theft. From our CEO and deposit character. And he only stole 9% of our deposit value at a time when we had 2.5 Trillion ISK in deposits. We handled 500 Billion ISK in withdraws within 3 days of the theft. Oh, and the Bank is still solvent.
You can come to your own conclusions.
Thanks to Hexxx for taking the time to give his views and facts to my humble blog.