Victims of the Mt. Gox debacle have become accustomed to delays, but as we reported last April, there were hints that a “rehabilitation plan”, as it is called, was in the process of finalization. Payments would surely commence sometime within this year. The trustee, unfortunately, could not comply by the October 31 deadline date and…
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The Mt. Gox bitcoin hack is probably the most vivid example of how fragile the cryptocurrency world has been in the near past. Mt. Gox was a bitcoin exchange based in Japan that handled over 70% of all bitcoin transactions around the world, and was the leading crypto exchange during 2010 - 2014. However, Mt.…
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The Mt. Gox tragedy continues along its slow and dreary trail. Some 24,000 creditors are awaiting any kind of announcement that a possible distribution of recovered proceeds could occur in the not too distant future. The bankruptcy trustee has recovered $400 million by selling remaining Bitcoins during the 2017 to 2018 time period, but the…
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Bitcoin is plunging right now. The price of the digital currency went under $7,500 today, according to major exchanges like Coinbase. Bitcoin was hitting $20,000 in December, 2017. Many are wondering what is going on and for how long. Does the price volatility and plunge of Bitcoin mean the end for the cryptocurrency? With all of…
Read moreGlobal digital asset exchange Kraken today shared major news from Tokyo’s court-appointed trustee in the investigation of claims from MtGox creditors. During a scheduled and long-awaited Creditor’s Meeting in Tokyo, Trustee Nobuaki Kobayashi announced today that 24,750 creditors have filed claims to date. The total amount claimed to date was 263,519,268,303,371 JPY, or approximately $2,411,412,137,427 USD, though…
Read moreGlobal bitcoin exchange Kraken today shared that “significant progress” has been made in the investigation into claims from creditors of MtGox. In November 2014, Kraken was selected to assist Tokyo District Court-appointed Trustee Nobuaki Kobayashi in the bankruptcy investigation of missing Bitcoin, receiving claims and distributing remaining assets to creditors of MtGox. Today, the Trustee…
Read moreKarpeles is suspected by Japanese police of inflating the value of his own account by $1 million, and faces up to five years in prison.
Read moreBitcoin account data and balances have been displayed on Mt.Gox founder Mark Karpeles' blog following demise of Japanese virtual currency exchange As though events surrounding the $64 million demise of Bitcoin exchange Mt.Gox were not complex and costly enough, a further twist took place this weekend when an imposter gained access to Mt.Gox founder Mark…
Read moreMt Gox closure sent prices on other exchanges down 25% to low $400's, now back around $600 Recent developments in the crypto currencies world have been of a substantially disruptive nature and there is no doubt that confidence has been shattered all over the place as the formerly leading Japanese exchange Mt Gox has finally…
Read morePost Silk Road closure rebound levels are the new normal… at least on the Japanese exchange Yesterday’s vague statement by Mt Gox that has fully discouraged Bitcoin traders on the Japanese exchange has triggered somewhat of a capitulation on the Bitcoin market. Prices have tanked just above post Silk Road closure levels around $91.50 and…
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