A cold wallet belonging to the infamous Bitcoin (BTC) exchange Mt. Gox transferred 6,800 BTC to an unknown wallet just days after the former CEO Mark Karpeles revealed plans to redistribute BTC worth $6 billion to its creditors. Mt. Gox was a Tokyo-based Bitcoin exchange that shut down in Feb. 2014 after a hack that compromised 850,000 BTC. In a recent interview, Karpeles disclosed that the exchange had roughly 200,000 BTC in possession during the company’s closure, out of which the trustee sold roughly 50,000 BTC for $600 million in the past. According to Karpeles, the remaining 150,000 BTC currently …

The former chief executive officer of now defunct crypto exchange Mt. Gox has announced that certain users will be eligible to receive commemorative nonfungible tokens, or NFTs. In a Monday announcement on Twitter, Mark Karpelès said that crypto users who were Mt. Gox customers between 2010 and 2014 — during which time the exchange was hacked and subsequently declared bankruptcy — could register to claim a free NFT. According to the CEO, the offer extended to users who claimed losses from the defunct exchange or had a balance. “Mt. Gox customers are early adopters, some of them were on BitcoinTalk …

A federal judge has rejected a bid for class certification from clients of the defunct Japanese Bitcoin (BTC) exchange Mt. Gox, which was forced into bankruptcy in 2014 following a major hack. Judge Gary Feinerman made the declaration in the United States District Court for the Northern District of Illinois on Tuesday, saying it would require 30,000 “mini-trials” to find otherwise. The move handed a victory to former Mt. Gox CEO Mark Karpelès, who has argued that a compensation plan in Japan would serve better than litigation in the United States. Before a class action lawsuit can proceed, the class …

A judge has ruled the former chief executive of defunct cryptocurrency exchange Mt. Gox, Mark Karpeles, must face a lawsuit alleging fraud filed back in 2014. On June 16, U.S. District Judge Gary Feinerman rejected Karpeles’ motion for summary judgment, rejecting the former Mt Gox head’s assertion that the case’s sole remaining plaintiff Gregory Greene had altered his argument against Karpeles in opposing the motion and brought a “host” of new allegations. Judge Feinerman found that “Greene merely added detail with the aid of discovery,” with the complaint having “articulated the gist of the fraud of the claim”. “That does …

Former Mt. Gox CEO Mark Karpeles insists that the 80,000 Bitcoin (BTC) that Craig Wright lays claim to was stolen from the exchange in March 2011. Cryptocurrency experts side with Karpeles. Bitcoins were stolen Karpeles confirmed to Cointelegraph that the Bitcoin residing at 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF was stolen from Mt. Gox: “I confirm, this was confirmed in 2011 and records are also part of court documents available publicly.” Also, speculating about Wright’s motivation in this turn of events in the Tulip Trust saga, Karpeles opined that nChain’s chief scientist is just trying to put forward some “evidence” of his status: “To be …

A day after a Tokyo court upheld charges against him, Mark Karpeles, the former owner and CEO of the now-defunct exchange Mt. Gox, spoke to Cointelegraph regarding the verdict. On June 11, Tokyo District Court Judge Mariko Goto struck down Karpeles' appeal to a previous charge of tampering with financial data. Karpeles was first convicted in March 2019 and received a two-and-a-half year jail sentence. He began the appeals process that same month. The former CEO will have to serve time should he commit another offense within four years. Speaking to Cointelegraph, Karpeles said he hadn’t decided whether to appeal …

A Japanese judge ruled in support of data tampering charges moved against Mark Karpeles — the CEO of now-defunct crypto exchange, Mt. Gox. At the end of March, Karpeles appealed his conviction on charges of having tampered with financial record data to harm his clients. Now, local news outlet Nikkei reported on June 11 that Tokyo District Court Judge Mariko Goto decided to uphold the previous ruling. Karpeles sentenced to over 2 years in jail The previous ruling sentenced Karpeles to two and a half years in jail for tampering with Mt. Gox data for February-September 2013 and depositing $33.5 …

The trustee for the defunct Mt. Gox cryptocurrency exchange has drafted a rehabilitation plan for creditors. The plan will see claims for fiat currencies, Bitcoin (BTC), and Bitcoin Cash (BCH) honored in their requested form, while all other crypto assets “will be liquidated into cash to the extent possible." Mt. Gox trustee to liquidate all crypto excluding BTC and BCH Funds will be allocated toward the rehabilitation proceedings first, with creditors receiving funds thereafter. Priority payments will be made to secure the interests of fiat currency claims, followed by small sum payments of up to approximately $1,800, and then prorated …

Mt. Gox’s creditors met today to discuss a draft rehabilitation plan as part of a compensation process that seems to go on and on. This news comes at a unique time: amid a pandemic and with the world on the brink of economic crisis. It calls to mind again the 2014 collapse of Mt. Gox, the Japan-based cryptocurrency exchange that once accounted for 70% of the world’s Bitcoin (BTC) trading, a signal moment in crypto history. In anxious times like these, people are inevitably asking: Can a failure of this scale happen again? Earlier this week, the crypto hedge fund …

Mark Karpeles, the former CEO of defunct cryptocurrency exchange Mt. Gox, accuses plaintiff Gregory Greene of altering the factual basis of his claims against Karplese mid-case, according to his March 16 response to Greene’s justification for continuing the case. Gregory Greene, the last remaining plaintiff in what was previously a class action against the Mt. Gox ex-executive, voluntarily dismissed two other claims against Karpeles recently — leaving Greene’s allegations of common law fraud as the sole claim against Karpeles in the case. Former Mt. Gox CEO attacks Greene for changing basis to claims On March 16, Karpeles asserted that the …

Mark Karpeles, the former CEO of the now-defunct Bitcoin (BTC) exchange Mt. Gox, is seeking to put an end to litigation filed by a former exchange user back in 2014. In papers filed in a Chicago federal court on Jan. 8, Karpeles contended that he is entitled to summary judgment as the main plaintiff in the case as Gregory Greene readily admitted that his initial claims were either untrue or unsupported. A summary judgment can be awarded by a court on behalf of one party against another “summarily” - i.e. without the process of a full trial. It is typically …

Disclaimer: The interview was edited and condensed for publication Mt. Gox crypto exchange is well remembered — but mostly for a bad reason. The year of 2011 marked the biggest heist in terms of the amount of crypto stolen, an eye-watering figure of 850,000 bitcoins (BTC), worth around $473 million at that time. Four years on and only 200,000 BTC of that were recovered. Most creditors still don’t know if or when they will ultimately get their funds back. Apparently, we may not see a conclusion any time soon, as Mt. Gox.’s trustee continues its standoff against the United States-based …