Crypto Millionaire Wants to Relaunch MtGox

Brock Pierce believes the reserves of the bankrupt exchange are about $ 630M and 150k BTC
08 February 2019   695

Former chairman of the Bitcoin Foundation, the founder of Blockchain Capital, a venture capital firm, and a man in the Forbes richest representatives of the cryptocurrency industry according to Forbes, Brock Pierce, unveiled a plan to revive the bankrupt Mt.Gox.

Pierce plans to recreate the brand of the once largest trading platform and compete with the new giants Coinbase and Binance. According to him, the reserves of the bankrupt exchange are about $ 630 million and 150 thousand BTC. He intends to solve all legal and technological problems in order to distribute the assets between the legal owners.

The heads of several blockchain companies in a private conversation called the idea “crazy”, but recognized that it could potentially fix the biggest failure in the history of cryptocurrency business.

As part of the civil rehabilitation process, the trustees of Mt.Gox received claims for compensation from 24,000 victims. As of today, there are about 137,892 BTC in reserves, 162,106 BCH and coins from other forks. In addition, the head of the board of trustees, Nobuaki Kobayashi, has already sold $ 630 million worth cryptocurrency.

Brock Pierce said that he attempted to acquire Mt.Gox in 2013, but he was allegedly prevented by the investment bank Goldman Sachs. He also claims that even then it seemed to him that the platform had a very shaky technological base.

After the collapse of exchange, Pierce announced that his investment group Sunlot Holdings had bought Jed McCaleb's share of 12% in just 1 BTC, but this fact remains unconfirmed. The founder of Blockchain Capital allegedly negotiated with Mark Carpeles about buying the remaining 88%, but the latter, he said, tried to exit the deal.

Pierce and Sunlot Holdings intend to return to users not only the $ 1.2 billion in reserves, but also to estimate the value of the stolen coins, and then refund it at the expense of holders of shares in Mt.Gox. The entrepreneur hinted that he's ready to contribute $ 700 million.

However, for this, he needs 12 thousand victims to agree to his plan and make a joint appeal to Nobuaki Kobayashi.

Brock Pierce intends to create a Gox Coin token, which will represent the original lenders' ownership rights to a stake in the new company.

Now he is trying to acquire the brand and domain of Mt.Gox to launch the exchange of the same name without the custodial component.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   276

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.