Mark Karpeles Reveals New Information Regarding the Ongoing Mt. Gox Creditor Saga, CoinLab


  • Karpeles believes that it will take a minimum of up to 10 years before a resolution for the Mt. Gox scandal can be arrived upon.
  • The ex-Mt. Gox CEO is currently serving a 2.5 years suspended jail sentence in relation to the various charges that were levied against him back in 2015.

As many of our readers are probably well aware of, the Mt. Gox hacking scandal of 2011 is, till date, one of the biggest crypto heists to have ever been recorded in any part of the world — with the miscreants making their way with around 850,000 BTC (estimated to be worth around $473 million at the time).

Out of this mind boggling number, a total of 200,000 BTC have been recovered till now. As a result of this, most of the company’s creditors are still not sure as to whether or not they will ever get to see their funds again. In this regard, an ongoing standoff between Mt Gox’s trustee board and US based crypto-firm Coinlab has ensured that we may not see a conclusion to this otherwise straightforward issue any time in the near future.

  • A number of reports released over the last couple of weeks have pointed to the fact that Mark Karpeles — Mt. Gox’s ex CEO — is working for a Japanese company called Tristan Technologies as its chief technology officer.
  • This news has not gone down well with the crypto community at large since many people believe that Karpeles is simply trying to fix his battered image and re-enter the altcoin industry.
  • Additionally, it is also worth pointing out that the former Mt. Gox executive currently has a lawsuit against him in a Japanese court — as a result of which he is not allowed to conduct any monetary/biz dealings within the nation’s borders.

Lastly, Karpeles was recently found guilty of record tampering and handed a 2 ½-year suspended jail sentence in relation to a lawsuit that was filed against him back in 2015.

When asked about why the Mt. Gox issue was taking such a long time to resolve itself, the tech-head was quoted as saying:

“Actual progress right now depends on one specific creditor, which is a company called CoinLab. They are a firm that Mt. Gox at one point tried to work with to handle customers in the U.S. because of regulations. It was not really possible to do from Japan.”

Nearly a decade after the infamous Mt. Gox hacking scandal shook the global crypto industry to its core, a number of creditors of the now-defunct exchange claim that they are yet to see even a single penny of their hard-earned money.

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