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Mt Gox CEO Mark Karpeles Does Not Want to Come to America

Apr 16 2014, 8:21am CDT | by

11 Updates
Mt Gox CEO Mark Karpeles Does Not Want to Come to America
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Mt Gox CEO Mark Karpeles Does Not Want to Come to America

Mark Karpeles, the CEO of collapsed Bitcoin exchange Mt Gox, has said via lawyers that he is “not willing” to go to America yet, refusing a US court demand to testify in person over the issue.

The news comes as Mt Gox was officially placed in administration by a Tokyo district court, which turned down the company’s plan to begin recovering its losses.

Karpeles, who has remained in Japan following the collapse of the digital currency exchange, says he will not comply with the order from the Financial Crimes Enforcement Network, part of the US Department of Treasury, which had demanded he attend a hearing in Washington this Friday.

In February, before the collapse of the exchange, Mr Karpeles told me by e-mail that Mt Gox had been experiencing trouble with “transaction malleability”, in which users could fraudulently alter transaction details, because the exchange had struggled to keep up with changes to Bitcoin’s core software. He also blamed the Bitcoin Foundation for not solving some coding ‘problems’.

Mt Gox subsequently admitted that it may have lost nearly $500 million of the currency, after experiencing a range of severe problems, later locating about a quarter of that sum.

Karpeles is looking to obtain legal advice before making any trip to a US court.

His lawyers wrote in a court filing that “until such time as counsel is retained and has an opportunity to ‘get up to speed’ and advise Mr Karpeles, he is not willing to travel to the US.”

The Naughty And Nice Places To Spend Your Bitcoin

Failed Mt Gox Rehabilitation

In terms of Mt Gox’s administration, the company said in a statement today that its application for civil rehabilitation had been dismissed by a Japanese court, which decided there were no immediate prospects for resuscitating the business.

Mt Gox apologized for the “great inconvenience and concerns to our creditors” following the news. The company said it intends to “fully cooperate with the provisional administrator”, including by handing over “current negotiations with sponsor candidates to maximize the distribution to all creditors, following the transfer of the business to a sponsor”.

In the past week, the price of Bitcoin has rallied from a low of $348, up to $501, partly on the back of supportive comments from the governor of the People’s Bank of China, an institution that had apparently originally threatened to close accounts of Bitcoin trading services.

More on Forbes:

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Mt Gox CEO Mark Karpeles Responds To Widespread Bitcoin Criticism

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Update: 11

Mt.Gox Trustee Leaves Door Open For Revival Of Defunct Bitcoin Exchange

Source: bidness etc

In February, this year, the world saw the biggest bitcoin exchange platform, Mt.Gox file for bankruptcy, which led to around 850,000 bitcoins - worth almost $474 million at the time - going missing. The company claimed that the loss was due to hackers and later found around 200,000 bitcoins in an old-format wallet. Due to the bankruptcy filing, the trustee (Nobuaki Kobayashi) overseeing whatever remains of Mt.Gox has come out to say that the compan ...
Source: bidness etc   Full article at: bidness etc 4 days ago, 1:40pm CDT
 


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Update: 10

Angry Bitcoin investors demand answers at Tokyo creditors' meeting

Source: Channel News Asia

TOKYO: Bitcoin investors voiced anger Wednesday (July 23) after the first creditors' meeting for failed Tokyo trading exchange MtGox, whose spectacular collapse hammered the digital currency's reputation and left a trail of unanswered questions.More than 100 investors, mostly expatriates, attended the meeting at a courthouse in the Japanese capital, demanding to know how some US$500 million worth of Bitcoins disappeared from the disgraced company's digital vault ...
Source: Channel News Asia   Full article at: Channel News Asia 5 days ago, 6:58am CDT
 

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Update: 9

Angry Bitcoin investors demand answers at Tokyo creditors' meet

Source: Asia One

TOKYO - Bitcoin investors voiced anger Wednesday after the first creditors' meeting for failed Tokyo trading exchange MtGox, whose spectacular collapse hammered the digital currency's reputation and left a trail of unanswered questions.More than 100 investors, mostly expatriates, attended the meeting at a courthouse in the Japanese capital, demanding to know how some US$500 million worth of Bitcoins disappeared from the disgraced company's digital va ...
Source: Asia One   Full article at: Asia One 5 days ago, 6:36am CDT
 

Update: 7

BitOcean Japan To Bid For Mt. Gox: Where Is The Digital Currency Heading?

Source: bidness etc

A joint venture between BitOcean, a Chinese bitcoin (BTC) ATM maker, and Atlas ATS, an American exchange platform provider, intends to launch a new bitcoin exchange in Japan this August. The new joint venture, BitOcean Japan, is looking to acquire the assets of Tokyo-based Mt. Gox, once the largest bitcoin trading platform. Mt. Gox received a serious blow when hackers robbed the company of 850,000 bitcoins, the equivalent of $500 million at ...
Source: bidness etc   Full article at: bidness etc Jul 14 2014, 5:58am CDT
 

Update: 6

Bitcoin Tests $600, More Trouble at the Foundation

Source: Forex News

Want to Trade Bitcoin? ForexNews RecommmendsClick Here To Learn More. Bitcoin is trading lower today. At one point, BTC/USD was trading down 13 points from the $616 daily open. We are currently at $609 a piece on BTC-E and at $612 per coin on BitStamp. Prices didn’t quite manage to hit $600 today, trading just shy of the figure at $603.70. The second move lower later in the day also stopped short at $604.33. Going forward we expect further downside and another rete ...
Source: Forex News   Full article at: Forex News Jul 10 2014, 12:05pm CDT
 

Update: 5

Bitcoins.com Auction Money To Be Utilized To Pay Mt. Gox Creditors

Source: Ebeling Hefferman Live Trading News

Bitcoins.com, the website dedicated to deliver information on the digital currency, has been put up for sale by its owner Mark Karpeles, CEO of the collapsed Mt. Gox exchange. The domain is slated to be auctioned on July 24 by Heritage Auctions, which is a U.S. based ...
Source: Ebeling Hefferman Live Trading News   Full article at: Ebeling Hefferman Live Trading News Jul 9 2014, 7:21am CDT
 

Update: 4

Bitcoin New Rally Might Be Close

Source: The Market Oracle

Briefly: we don’t support any short-term positions in the market. Mark Karpeles, CEO of the now defunct exchange Mt. Gox gave a first interview since the announcement of the bankruptcy of his company, the Wall Street Journal reported: "As the company head, my mission was to protect customers and employees," Mr. Karpelès said in the interview, his first with media since a Feb. 28 news conferen ...
Source: The Market Oracle   Full article at: The Market Oracle Jun 27 2014, 3:04pm CDT
 

Update: 3

No More Bitcoins Will Be Found, Says Mt. Gox Chief

Source: bidness etc

Mt. Gox Chief Executive Officer Mark Karpeles said today that no more bitcoins, from the 850,000 that were stolen earlier this year, will be found, according to the Wall Street Journal. The theft had led to the closure of the Bitcoin exchange. Mt. Gox closed its operations in February this year after the exchange lost 850,000 bitcoins in a hacking attack. The Japan-based exchange lost more than half a b ...
Source: bidness etc   Full article at: bidness etc Jun 27 2014, 1:18pm CDT
 

Update: 2

Mt. Gox Chief Executive: Bitcoin Heist Wasn't Just Hacking

Source: BusinessWeek

The now-defunct Bitcoin exchange also suffered physical security breaches, Mark ...
Source: BusinessWeek   Full article at: BusinessWeek Jun 27 2014, 11:34am CDT
 

Update: 1

Bitcoin Trading Up, Mark Karpeles Does WSJ Interview

Source: Forex News

Want to Trade Bitcoin? ForexNews RecommmendsClick Here To Learn More. Bitcoin is trading up 19$ on Auction day. On BTC-E, prices opened at $566.96 then proceeded to rally to a daily high of $588.98. We are currently quoted just below this number at $587.10. Since there are still no results about the US Marshall bitcoin auction, we’ll leave the speculations for tomorrow. The CEO of failed exchange MtGox Mark Karpeles just did an interview for the Wall Street Journal. Mark ...
Source: Forex News   Full article at: Forex News Jun 27 2014, 10:33am CDT
 

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