Tag - Mt Gox
A seemingly grass-roots effort has been launched to save bankrupt Bitcoin exchange Mt. Gox. The "savegox" website has cropped up, launched by an unnamed group of investors, with the goal of providing "restitution to customers" and as an added benefit to "restore faith in the digital currency." Approximately 750,000 Bitcoins belonging to customers and 100,000 coins belonging to the exchange, valued at over $450 million dollars as of March 1, were said to be lost in the hack when the Mt. Gox systems were breached unnoticed over the course of several years. Mt. Gox says there was a also $27.4 million discrepancy in its bank accounts as of Monday.
Bankrupt bitcoin exchange Mt. Gox has apparently abandoned its goal of rebuilding itself, and now is asking a Japanese court to allow complete liquidation. Should the Japanese court approve of the move, it will appoint a trustee which will assume control of all Mt. Gox assets from CEO Mark Karpeles. Additionally, US courts overseeing the Chapter 15 bankruptcy have been informed that regardless of judicial decree, Karpeles will not appear in court to answer questions as ordered by bankruptcy Judge Stacey Jernigan.
US Bankruptcy Judge Stacey Jernigan has ordered shuttered Bitcoin exchange Mt. Gox's CEO Mark Karpeles to present himself in Texas, at his lawyer's office. The judge demanded that if Karpeles "avails himself of this court, my God, he is going to get himself over here" to answer allegations of theft and other improprieties before the company recieves Chapter 15 bankruptcy protection in the US.
According to OKCupid founder Chris Coyne, Bitcoin exchange site Mt. Gox has seen its access to payment service Dwolla shut down by the Department of Homeland Security (DHS). Coyne posted the email he received from Dwolla, stating that due to the order by the arm of the US Government, Dwolla cannot complete the ordered transfer to the exchange.