Mt. Gox Liquidation Filing

One-time Bitcoin king Mt. Gox nears the end of the road

By on April 16, 2014 at 9:15 PM.

One-time Bitcoin king Mt. Gox nears the end of the road

Sorry, Bitcoin fans: You’re never, ever, ever getting all your precious pieces of cryptocurrency back from Mt. Gox. The Wall Street Journal reports that Mt. Gox, the one-time Magic Card trading website that transformed itself into the world’s largest Bitcoin exchange before it collapsed earlier this year, has filed for liquidation. More →

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Mt. Gox Fraud

Hackers call Mt. Gox CEO a liar, say he still controls ‘stolen’ bitcoin

By on March 10, 2014 at 8:45 AM.

Hackers call Mt. Gox CEO a liar, say he still controls ‘stolen’ bitcoin

Anonymous hackers on Sunday claimed to have published evidence that Mt. Gox CEO Mark Karpeles lied about the theft of more than $500 million worth of bitcoin. According to the hackers, Karpeles still controls all of the cryptocurrency he says was stolen recently in the biggest heist of bitcoin’s brief history. Mt. Gox was the world’s largest bitcoin exchange until about 850,000 bitcoin were allegedly stolen during a breach, forcing the exchange to shut down and file for bankruptcy protection. According to new claims from anonymous hackers, however, the heist never occurred and Karpeles still controls nearly 1 million bitcoin worth approximately $596 million at Monday’s exchange rate. More →

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Why Did Mt. Gox Collapse

Are Bitcoin exchanges just Nigerian scam emails for gullible nerds?

By on March 3, 2014 at 2:45 PM.

Are Bitcoin exchanges just Nigerian scam emails for gullible nerds?

The next time the deposed prince of Nigeria has a massive inheritance to send you, will he offer to give it to you in Bitcoins? Cornell associate computer science professor Emin Gün Sirer has written a lengthy post that details why we shouldn’t believe bankrupt Bitcoin exchange Mt. Gox’s official explanations for how it lost nearly $500 million worth of Bitcoins. Essentially, Sirer just doesn’t think incompetence alone can’t explain such a stunning loss and alleges that there had to have been at least one person working within Mt. Gox who was either masterminding or aiding and abetting the theft. More →

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Mt. Gox Bankrupt Bitcoin

The failure is complete: One-time Bitcoin king Mt. Gox is bankrupt

By on February 28, 2014 at 9:05 PM.

The failure is complete: One-time Bitcoin king Mt. Gox is bankrupt

Who would thought that a former online Magic Card market wouldn’t be a safe place to invest your money? The Wall Street Journal reports that Mt. Gox, which until last week had been the world’s largest Bitcoin exchange, has filed for bankruptcy. Mt. Gox admitted on Friday that it had lost around 750,000 of its customers’ Bitcoins along with 100,000 of its own Bitcoins, which the Journal estimates all have a combined worth of $473 million. More →

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