Mt. Gox Whale Secures ‘Rehabilitation Trustee’ Balance of $623 Million

MtGox trustee Nobuaki Kobayashi published documents on the MtGox website on Wednesday informing the public about decisions made at the second creditor’s meeting. MtGox went under in 2014, after handling 70% of the world’s Bitcoin transactions at that time, due to a major security breach which lost $450 million worth of investor funds. The 850,000 BTC would go on to be worth billions. Mt Gox has gone offline taking all our Bitcoin with it. I have lost quite a lot of my money today 🙁 — Dan Bull 🍐 (@itsDanBull) February 25, 2014 As Rehabilitation Trustee, Nobuaki Kobayashi was placed

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Coincidence? Bitcoin (BTC) Prices Up After Mark’s Judgment

Bitcoin prices up 1.4 percent in last week Mt Gox founder serving 2.5 years suspended sentence Participation picks up, BTC could print higher in days ahead. Mark is a free man, and despite heavy losses ordinary investors had to shoulder, a Japanese court remained lenient. All the same, it appears as if Bitcoin prices are

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Mt. Gox Mark Karpeles May Avoid Jail Time but Class Action Lawsuits Remain

Mark Karpeles, the former CEO of the defunct bitcoin exchange Mt. Gox, may eventually avoid jail time following the suspended sentence he received from a Tokyo court but his legal troubles are far from over. A Suspended Sentence May Count as a Win for Mark Karpeles but the Lawsuits are Coming Earlier this week, Karpeles failed to have a U.S. class-action lawsuit in which he is a defendant dismissed. This was after a court in Illinois, a state where around 1.5% of Mt. Gox victims hail from, ruled that there were legal grounds to go ahead with the case. Illinois

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Mt Gox CEO Mark Karpeles Found Not Guilty of Embezzlement

Mt Gox CEO Mark Karpeles Found Not Guilty of EmbezzlementMark Karpeles, CEO of the now-defunct bitcoin exchange Mt. Gox, has been sentenced by the Tokyo District Court. The court convicted him of record tampering but found him not guilty of embezzlement. He received a suspended jail sentence of two and a half years. Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF […]

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Newsflash: Bitcoin Exchange Mt. Gox: Mark Karpeles Receives Suspended Sentence

The Wall Street Journal reports that the verdict is in on Mark Karpeles. He was found guilty on just one charge: producing illegal records. The rest of the charges, including the loss of millions of dollars in Bitcoin, were dropped. Further, he was handed a suspended sentence. Karpeles Beats Most Charges, Receives Suspended Sentence for Producing Illegal Records In the US justice system, at least, a suspended sentence basically means that as long as the accused keeps their nose clean, they never have to go to jail. Karpeles’ defense attorneys used the fact that he hid the true state of

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Illinois Judge Blocks Mt Gox CEO’s Bid to Weasle out of Bitcoin Trader Lawsuit

For Mark Karpeles, the former CEO of the shuttered Mt. Gox bitcoin exchange, the hits just keep on coming, this time from more than 6,000 miles away. An Illinois court in a Memorandum Opinion and Order issued on March 12 has denied Karpeles the chance to make a class action complaint in which he is named as a defendant go away, despite the fact that the infamous cryptocurrency exchange was based in Tokyo. Judge Gary Feinerman ruled that the class action complaint, which was introduced by former customers of Mt. Gox who claim they suffered financial losses, was within the

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Breaking: Mark Karpelès Faces Bitcoin Embezzlement Verdict on Friday, Faces 10 Years in Prison

Mark Karpelès, the disgraced former CEO of defunct bitcoin exchange Mt. Gox, faces ten years in prison as a Tokyo court prepares to hand down a verdict on embezzlement charges this Friday. Karpelès is accused of syphoning $3 million of client money to his own accounts and faking exchange data. The 33-year-old maintains his innocence on all counts. If convicted, it will be an explosive end to the Mt. Gox saga. Bitcoin’s most notorious exchange lost 850,000 bitcoins (worth $500 million) and filed for bankruptcy in 2014. The collapse of the world’s largest crypto exchange at the time caused the

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Bitcoin Jesus: Don’t Delete Coinbase, No Other Firm Does More for Crypto

Roger Ver is among the most polarizing characters in the crypto industry. He often goes against the grain, even if it earns him notoriety. Such is the case with recent comments made by Ver, defending San Francisco-based Coinbase in the face of the ongoing #DeleteCoinbase boycott. Few people have done more to further the adoption

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Mark Karpeles Still Faces Class Allegations in the U.S. After Japan Verdict

Mark Karpeles Still Faces Class Allegations in the U.S. After Japan VerdictMark Karpeles, the chief executive of the now defunct bitcoin exchange Mt. Gox, has been denied a motion to stay in a class action lawsuit in the U.S. The Northern District of Illinois lawsuit originally filed by Anthony Motto and Gregory Greene accuses Karpeles of criminal conversion and fraud. Also read: Kraken Offers $100K Reward […]

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