Mt. Gox has been back in the headlines a lot over recent weeks. The infamous (then-largest) Bitcoin exchange that was hacked in 2014 has yet to compensate its victims for the 850,000 bitcoins that were stolen. But, things could be moving along. The defunct exchange’s creditors will hold another meeting this week. Mt. Gox Still Largest BTC Hack in History According to an official document released today, Mt. Gox creditors are taking further steps to […]
Mark Karpeles, the disgraced former head of Mt. Gox, has called on a U.S. district court to dismiss the last remaining fraud charge against him, asserting that the plaintiff has changed the facts underlying his claim. This is the latest move in the long legal battle over the mismanagement and failure of Bitcoin’s first major exchange. TWO OF THREE MT. GOX CHARGES ALREADY DROPPED Gregory Greene, a former Mt. Gox customer, is the last remaining […]
Fortress Investment Group, a Mt. Gox creditor, has increased its offer to victims of the infamous Bitcoin exchange hack. In its newest offer to victims, Fortress offered $1300 per bitcoin or an estimated 88% of account value at the time of the hack. But will the offer be accepted this time? Are Mt. Gox investors willing to accept the offer? Mt. Gox is perhaps the most infamous hack in crypto history, despite it not beingRead More
Bitcoin can yield thousands of percent of gains within a short time frame. But those returns have been counted only in the best days for the coin. Bitcoin Moves Sharply, Creating Days of Extraordinary Gains Recent research revealed that bitcoin prices tend to move on specific days, bringing up the overall gains. But missing that period may mean waiting out a bear market or stagnant prices. Inspired by Fundstrat’s Tom Lee @fundstrat ’10 best days’Read More The post appeared first on Bitcoinist.com.
Findings by investigative platform WizSec uncovers new details in the civil rehabilitation case against CoinLab and Mt.Gox as CoinLab seeks $15 billion USD in damages plus an extra $1,127,731,005 each year the proceedings drag out past June 2018. The rehabilitation trustee in the case estimates the actual damages caused to be at least forty times lower ($6,100,000 USD) than the fifteen billion dollars claimed by CoinLab. Although not specifically mentioned, the site covering the case,
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The trustee of defunct Bitcoin exchange Mt. Gox has again extended the deadline for submitting and approving the rehabilitation plan to repay users. Trustee Blames ‘Large Amount’ Of Claims According to a translated statement, which appeared April 25, Nobuaki Kobayashi, Mt. Gox’s trustee in charge of the rehabilitation process says the new submission deadline is now October 28, 2019. The previous cut-off point was scheduled for Friday this week, but Kobayashi acknowledged that the volume
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Following Mark Karpelès acquittal on charges of embezzling bitcoin in the Mt. Gox hack, his lawyer spoke out. He claims the police purely hoped to extract a confession, and the prosecution objected to evidence of Alexander Vinnik’s involvement. Mt. Gox Ex-CEO Got A Pretty Raw Deal It’s safe to say Mark Karpelès has had a pretty awful time over the past five years. The former CEO of the former largest Bitcoin exchange in the world has really
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Mark Karpelès, the former CEO of the defunct Mt. Gox Bitcoin exchange says he will appeal his conviction on electronic data manipulation charges. Meanwhile, prosecutors on the case have announced their decision not to appeal Karpelès’ acquittal on embezzlement charges. Karpelès is also a Victim of the Mt. Gox Hack According to the Associated Press (AP), Karpelès’ lawyer, Nobuyasu Ogata believes his client’s actions during the Mt. Gox saga were tailored towards minimizing the risk
Mt. Gox is in possession of over 141,000 Bitcoin and more than 142,000 Bitcoin Cash. Does this mean that users will finally get their funds back five years later? Mt. Gox Hodling Funds Worth Over Half a Billion Dollars Ever since the industry was rocked by the collapse of its biggest cryptocurrency exchange in 2014, it’s been a long and painful waiting period for users out of pocket. Thieves stole some 850,000 BTC (then the
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Mark Karpeles, the former head of defunct cryptocurrency exchange Mt. Gox, will unlikely serve time in jail following a significant acquittal by a Japanese court. Court: Karpeles Did Not Embezzle Bitcoins As multiple sources including Bloomberg reported March 14, Karpeles, who has been under suspicion for embezzling millions of dollars in user funds, is guilty only of record tampering in the eyes of Japanese law. The Frenchman will serve a four-year suspended sentence, with the
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Venture capitalist and ex-Bitcoin Foundation director Brock Pierce thinks his plan to take over the Mt. Gox rehabilitation process “demonstrates the power of open source.” Avoiding Crypto ‘Lehman Brothers’ Speaking on the latest edition of the Keiser Report February 16, Pierce, who has gained mixed reactions to his ‘Gox Rising’ scheme, said community action was key to ensuring the defunct exchange did not become a cryptocurrency “Lehman Brothers.” “Do we want it to end like
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A new report by GoxDox, allegedly shows that Mt.Gox trustee Nobuaki Kobayashi dumped bitcoin on cryptocurrency exchanges despite maintaining claims to the contrary. Leaked documents presented in the report point to a massive Bitcoin dump to the tune of $312 million. The Mt.Gox Bitcoin Dumpening According to GoxDox, the Tokyo Bitcoin whale ignored the advice of Kraken CEO, Jesse Powell, on the modalities for the Mt.Gox bitcoin sale. At the time, there were fears of
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Davinci Jeremie, Chilean software developer and little known Bitcoin guru, who has a stellar track record of Bitcoin calls is back. Only As Good As Your Last Call If you’re sick of so-called experts, confidently calling the bottom of the bear market, only for the following week to wipe another [insert obscene amount of money here] off your portfolio… then perhaps you are listening to the wrong experts? Traders, pundits, gurus, seers, and other alleged
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The Japan Virtual Currency Exchange Association says it will tighten investor protection stipulations after a wave of hacks on digital currency exchanges. Citing informed sources, the Japan Times reported the Japan Virtual Currency Exchange Association (JVCEA) has agreed to revise certain self-imposed rules to keep investors safe in the wake of hacks. The JVCEA is set to place a cap on the number of cryptocurrencies managed, which will reportedly equal between 10-20% of customer deposits.
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Popular technology publisher TechCrunch recently published a bold prediction. It comes from Jeremy Rubin, founder of the MIT Digital Currency initiative, who believes that the price of Ethereum will go to zero. Considering the spectacular success of Ethereum over the last year, this may seem ridiculous. So what is there to back this claim up? Is this prediction a repeat of Michael Burry, who predicted the 2008 financial crisis? Or will it follow in the
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FUD appears to be dragging Bitcoin price through the mud this week. What is really happening, consolidation or a bearish reversal? Bitcoin Price Market Overview As Bitcoin pulls back from a week of inspiring gains, the mainstream media and an array of Bitcoin pundits are calling this a ‘crash’. Rumors of Mt.Gox trustee, Nobuaki Kobayashi lining up more BTC and BCH for sale have dominated the press and the general sentiment toward bitcoin has turned
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Bitcoin community members continue to piece together the story behind a huge wallet containing over 111,000 BTC ($802 million) — which suddenly became active after over four years. Coins Go To Bitfinex, Binance The results of multiple analyses by Reddit user u/sick_silk reveal the owner of the wallet, which first appeared in May 2014 with a balance of 111,114.615 BTC ($802.4 million), has begun “actively” moving coins to destinations including exchanges. Of the original hoard,
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The latest chapter in the Mt. Gox saga reveals that creditors are looking to be paid in Bitcoin with the first payment expected no earlier than next summer after the approval of the rehabilitation plan. BTC Payments Will Be Most ‘Simple and Efficient’ A revised civil rehabilitation proposal document published August 2 by lawyers representing several Mt. Gox creditors notes that the first payments to creditors are expected in summer 2019. “Mt. Gox is not capable
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While some analysts are stereotypically predicting Bitcoin’s funeral following its continued bearish trend, trader Brian Kelly has urged followers to cool their jets and look at the bigger picture. 3 Reasons Why Bitcoin is Not Dead There are three primary reasons why Bitcoin’s current price action is not indicative of the first and foremost cryptocurrency’s untimely death, according to popular trader Brian Kelly. “This is not the funeral for Bitcoin whatsoever,” the CNBC “Fast Money”
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Mark Karpeles, the former CEO of Mt. Gox, recently made comments about his distaste for Bitcoin, admitting that he no longer has any bitcoin or other cryptocurrencies. No Longer a Fan It has become apparent that Mark Karpeles, former owner and CEO of the now defunct Mt. Gox exchange, has lost faith in the appeal of Bitcoin and other cryptocurrencies. He recently expressed some negative comments concerning the cryptocurrency space on a recent Reddit post.
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