MtGox investors are going to save the exchange

Investors are going to prevent former CEO of MtGox to gain several billion dollars
13 December 2017   314

The group of creditors of the now defunct bitcoin-exchange MtGox filed a new court petition, which, if satisfied, will withdraw Mark Karpeles from bankruptcy and launch the process of its civil rehabilitation. The Financial Times writes about this.

The petition is filed in the hope of preventing former CEO of MtGox Mark Karpels from gaining several billion dollars in potential, which may remain at the disposal of the company after the funds are returned to investors.

The current Japanese legislation suggests that if MtGox retains its current bankruptcy status, the exchange will return users money in dollar terms as of 2014. However, due to the fact that the price of bitcoin has grown tens of times since then, Karpeles and MtGox, even having returned the funds to investors, can get a significant enough bonus.

According to the Financial Times, more than 173,000 BTC can be left to Karpeles from the 202,195 BTC that the stock exchange owned at the time of bankruptcy. At the current rate of bitcoin this is about $ 3 billion.

As the newspaper notes, now everything will be reduced to the "battle of experts" - representatives of the bankruptcy property manager who believe that the current liquidation plan will be more reliable, and representatives of investors who insist that their offer will not only be quicker but also more fair, because in the potential will allow them to return not the dollar equivalent of deposits, but actual amounts in bitcoins.

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   55

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.