Mark Karpeles is going to reborn MtGox

According to the founder of well known cryptocurrency exchange, he needs $245M in order to start exchange again
20 November 2017   453

Scandalously known founder of the once largest cryptocurrency trading platform Mt Gox Mark Karpeles intends to revive the exchange. To do this, he said, the amount of $ 245 million is required. Karpeles wrote this in his blog.

Among the possible ways of raising funds, the founder of the infamous Japanese exchange calls recapitalization, issuing shares. Later, the ICO was listed as one of the ways to reborn the exchange. Now this text is crossed out.

Launch an ICO to raise money to hypothetically revive MtGox. This sounds more challenging, both legally and because there is no guarantee of raising enough to revive MtGox. In case there is not enough raised it could still be locked to be distributed to creditors, which would be better than nothing. Updated on Nov 20th: after discussing with lawyers it has been confirmed this option is not practical (mostly due to compliance issues). 
Should anyone have 245 million USD sitting around and want to purchase MtGox, just drop me an email.

Mark Karpeles

MtGox founder

In addition, Mark Carpeles concluded that it is unlikely that future investors will be those who lost a solid amount of money in 2014 due to the bankruptcy of the exchange.

The MtGox exchange was based in Tokyo and at a certain stage was the largest trading platform in the bitcoin ecosystem (about 70% of all transactions with bitcoin passed through the exchange).

In early 2014, MtGox, on the background of charges in a dirty game, stopped working. Mark himself later claimed that the platform had undergone a hacker attack, but a study of the Japanese company WizSec, published in April 2015, showed that MtGox started withdrawing funds in 2011, and by 2013 there were practically no funds on the stock exchange accounts.

The losses of MtGox investors are estimated at 850,000 BTC. At that time, this amount was about $ 480 000 000, but at the current rate is about $ 6 500 000 000 .

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   57

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.