Speaking with Ars Technica, Mt.Gox founder Jed McCaleb revealed that he personally lost around $50,000 in the Tokyo-based bitcoin exchange’s collapse. Although he sold he site to French bitcoin entrepreneur Mark Karpeles in 2011, McCaleb retained a 12% stake in the company. Unlike many Mt.Gox users, however, McCaleb’s losses were in standard fiat accounts, rather…
The Mt.Gox bankruptcy moved another step closer to resolution today, with the official appointment of attorney Nobuaki Kobayashi as trustee for the failed exchange. Mt.Gox changed its filing in a Tokyo court earlier this month, dropping plans for a proposed rehabilitation due to an “extremely large” number of creditors and a massive logistical challenge getting…
kkIn an article filed on Reuters today, reporter Sophie Knight paints a complex portrait of Mt.Gox CEO Mark Karpeles. Far from a criminal mastermind or con man, Karpeles is depicted as man who is “shy and fearful of confrontation” whose “escapism into virtual worlds was accompanied by what some former associates describe as a lack…
After nearly two months under bankruptcy protection, defunct bitcoin exchange Mt.Gox has officially ended all plans to rebuild. Earlier today, Mt.Gox’s attorney’s asked a Tokyo court to allow the company to begin the liquidation process. The move comes as a blow to the exchanges former customers, many of whom hoped a buyer for the company…
In a report published by Reuters today, former staffers at failed bitcoin exchange Mt.Gox claim that client funds were used to cover internal costs. In a series of exclusive interviews with reporters, the former staffers claimed that they had voiced concerns to CEO Mark Karpeles in early 2012, but that no changes were made. By…
In a research paper titled “Bitcoin Transaction Malleability and MtGox” posted to the arXiv archive yesterday, authors Christian Decker and Roger Wattenhofer determined that Mt.Gox could not have lost 850,000 bitcoins through a transaction malleability glitch in the site’s code. Instead, the researchers note that an attack of that scale has never taken place, and…
A few days after Mt.Gox filed for bankruptcy protection in Japan, an obscure Twitter user named Eren Canarslan reported that he had heard from an inside source that Mt.Gox had “found” their lost coins. Canarslan later claimed that Mt.Gox CEO Mark Karpeles had confirmed this rumor. Two weeks later, Mt.Gox announced that nearly 200,000 BTC…
In a media release posted late yesterday evening on the Mt.Gox website, the bankrupt bitcoin exchange announced that it had recovered “199,999.99” BTC from an “old format” wallet. According to the statement, the discovery was made on March 7 during an audit as part of their bankruptcy proceeding. The recovered bitcoins are worth $114 million…
In a report published on Yahoo News’s Japan section, Mt.Gox has recovered nearly 200,000 BTC from a “lost” wallet dating back to 2011. The company’s lawyers claim that Mt.Gox found the wallet on March 7 during an internal investigation following their declaration of bankruptcy on Feb. 28. Few details about the recovery have been released,…
There has never been a currency as inherently transparent as bitcoin. Anyone who feels so inclined can download the entire block chain (about 16GB at the moment) and sort through every transaction ever made. But when transactions happen in off-chain transactions, which is almost always the case at an exchange or online wallet, it becomes…