Illinois Judge Blocks Mt Gox CEO’s Bid to Weasle out of Bitcoin Trader Lawsuit

For Mark Karpeles, the former CEO of the shuttered Mt. Gox bitcoin exchange, the hits just keep on coming, this time from more than 6,000 miles away. An Illinois court in a Memorandum Opinion and Order issued on March 12 has denied Karpeles the chance to make a class action complaint in which he is named as a defendant go away, despite the fact that the infamous cryptocurrency exchange was based in Tokyo. Judge Gary Feinerman ruled that the class action complaint, which was introduced by former customers of Mt. Gox who claim they suffered financial losses, was within the

The post Illinois Judge Blocks Mt Gox CEO’s Bid to Weasle out of Bitcoin Trader Lawsuit appeared first on CCN

Breaking: Mark Karpelès Faces Bitcoin Embezzlement Verdict on Friday, Faces 10 Years in Prison

Mark Karpelès, the disgraced former CEO of defunct bitcoin exchange Mt. Gox, faces ten years in prison as a Tokyo court prepares to hand down a verdict on embezzlement charges this Friday. Karpelès is accused of syphoning $3 million of client money to his own accounts and faking exchange data. The 33-year-old maintains his innocence on all counts. If convicted, it will be an explosive end to the Mt. Gox saga. Bitcoin’s most notorious exchange lost 850,000 bitcoins (worth $500 million) and filed for bankruptcy in 2014. The collapse of the world’s largest crypto exchange at the time caused the

The post Breaking: Mark Karpelès Faces Bitcoin Embezzlement Verdict on Friday, Faces 10 Years in Prison appeared first on CCN

Bitcoin Jesus: Don’t Delete Coinbase, No Other Firm Does More for Crypto

Roger Ver is among the most polarizing characters in the crypto industry. He often goes against the grain, even if it earns him notoriety. Such is the case with recent comments made by Ver, defending San Francisco-based Coinbase in the face of the ongoing #DeleteCoinbase boycott. Few people have done more to further the adoption

The post Bitcoin Jesus: Don’t Delete Coinbase, No Other Firm Does More for Crypto appeared first on NewsBTC.

Mark Karpeles Still Faces Class Allegations in the U.S. After Japan Verdict

Mark Karpeles Still Faces Class Allegations in the U.S. After Japan VerdictMark Karpeles, the chief executive of the now defunct bitcoin exchange Mt. Gox, has been denied a motion to stay in a class action lawsuit in the U.S. The Northern District of Illinois lawsuit originally filed by Anthony Motto and Gregory Greene accuses Karpeles of criminal conversion and fraud. Also read: Kraken Offers $100K Reward […]

The post Mark Karpeles Still Faces Class Allegations in the U.S. After Japan Verdict appeared first on Bitcoin News.

US Mt Gox Victims Notch Legal Win Against CEO of Infamous Bitcoin Exchange

Mark Karpeles, the former CEO of the notorious Mt Gox, has lost the motion to strike a lawsuit against him on the grounds that plaintiffs – specifically the defunct bitcoin exchange’s US victims – are likely to be reimbursed eventually. The exchange’s former CEO spent nearly a year in a Japanese jail after being arrested and charged with embezzlement and is now out on bail. Karpeles is awaiting trial in a country with a 99% conviction rate and faces up to 10 years in prison following the loss or theft of 850,000 BTC from the exchange in 2014. Now, a

The post US Mt Gox Victims Notch Legal Win Against CEO of Infamous Bitcoin Exchange appeared first on CCN

5 Years Later, Mt. Gox Victims Still Want to Know: ‘Where’s our Bitcoin?’

It seems like just yesterday when Bitcoin investors were startled by the news that Mt. Gox, one of the world ’s first Bitcoin exchanges, was in serious trouble. Five years ago, on Feb. 24, 2014, reports began circulating that the Bitcoin exchange had lost three-quarters of a million bitcoins. One day later, the company – perhaps the closest thing to a single point of failure in the Bitcoin industry – announced that it was shutting down operations. I hope this isn't true, but I received report allegedly from Mt. Gox which says they have lost 750,000 BTC #bitcoin. http://t.co/3Rjxw4fb4b —

The post 5 Years Later, Mt. Gox Victims Still Want to Know: ‘Where’s our Bitcoin?’ appeared first on CCN

Mt. Gox CEO Claims the Coinlab and Brock Pierce Deals Never Materialized

Mt Gox CEO Claims the Deals With Coinlab and Brock Pierce Never MaterializedOn Feb. 19, the former CEO of Mt. Gox, Mark Karpeles, gave an interview on the Youtube show “What Bitcoin Did”. In episode 76, Karpeles discussed the platform’s insolvency, Coinlab’s monstrous claim for $16 billion, and Brock Pierce’s attempt to revive the defunct exchange. Also read: Mt Gox Restitution Process Frozen Due to One Man’s […]

The post Mt. Gox CEO Claims the Coinlab and Brock Pierce Deals Never Materialized appeared first on Bitcoin News.

BTC-e Operator Alexander Vinnik Terminates His Hunger Strike

Alexander Vinnik Terminates His Hunger StrikeThe alleged operator of the infamous BTC-e exchange, Alexander Vinnik, has terminated his hunger strike more than 80 days after he started the protest against his detention in Greece. Vinnik’s condition is serious and he needs specialized medical attention to recuperate. Also read: Cryptocurrency Exchange Exmo Opens Branch in Turkey Russia’s Ombudsman Visits Vinnik in […]

The post BTC-e Operator Alexander Vinnik Terminates His Hunger Strike appeared first on Bitcoin News.