In 2012, Bitcoinica allegedly suffered several security breaches, in which unknown persons allegedly compromised the Bitcoinica system to steal monies held by Bitcoinica. In a public announcement following said breaches, Bitcoinica assured its users, among other things, that: the overwhelming majority of its Bitcoin deposits were not stolen; monies were stolen from Bitcoinica, not from its users; and that all withdrawal requests would continue to be honored. Bitcoinica subsequently set up a claims system by which its users could withdraw their monies. Bitcoinica subsequently stated that it would: (i) verify all claims submitted by its 20 users; (ii) return fifty percent of the verified claims; and (iii) return the remainders on a pro rata 21 basis, based upon the total amount of all verified claims and the remaining monies.