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Tag: mt. gox

Powerful Forces Keep Mt. Gox Heist Shrouded in Mystery, Alleges Bitcoin Entrepreneur

Category: Bitcoin, Commentary, Finance, News

Powerful Forces Keep Mt. Gox Heist Shrouded in Mystery, Alleges Bitcoin Entrepreneur

The mystery surrounding the nearly four-year-old Mt. Gox exchange heist is only intensifying with time. It all began in 2014 when Mt. Gox came under a severe cyber attack that saw unknown perpetrators stealing 850,000 bitcoin in addition to $28 million in cash. The stolen bitcoin alone was worth approximately half-a-billion US dollar back then. Shortly after the heist, the…

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BTC-E’s Role in Mt. Gox Hack: Laundered $4 Billion Proceeds of Bitcoin Theft

Category: Bitcoin, News, Regulation

BTC-E’s Role in Mt. Gox Hack: Laundered $4 Billion Proceeds of Bitcoin Theft

WizSecurity’s report which revealed BTC-E’s long lasting involvement in the Mt. Gox hack came as a shock to the Bitcoin community and industry. The unsettled case of Mt. Gox is finally set to come to an end and BTC-E is at the epicenter of a series of thefts that led to the loss of billions of dollars worth of bitcoin…

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Hedge Funds Are Buying Account Holders’ Claims to Speculate on Mt.Gox Payout

Category: Bitcoin, Business, Finance, News

Hedge Funds Are Buying Account Holders’ Claims to Speculate on Mt.Gox Payout

In February 2014, the once biggest bitcoin exchange in the world, Mt. Gox, declared bankruptcy after over $460 million worth of bitcoin were allegedly stolen by hackers. Following the bankruptcy declaration, a class action lawsuits against the exchange was filed by former users who had lost bitcoin because of the exchange’s collapse and two months later Mt. Gox’s bankruptcy proceedings…

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Mitsui Sumimoto Launches Insurance Coverage For Cryptocurrency Exchanges

Category: Bitcoin, Business, Finance, News

Mitsui Sumimoto Launches Insurance Coverage For Cryptocurrency Exchanges

Japanese insurance giant Mitsui Sumitomo Insurance, as revealed by Nikkei Asian Review, will be launching insurance coverage for cryptocurrency exchanges, designed to insure against damages and losses resulting from cyber attacks and operational issues. The new insurance product is being developed in partnership with Tokyo-based bitcoin exchange bitFlyer, aimed at protecting both exchanges and their customers against losses. The coverage…

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Mt. Gox’s CEO Mark Karpeles Arrested in Japan

Category: News

Mt. Gox’s CEO Mark Karpeles Arrested in Japan

Japanese police have reportedly arrested Mark Karpeles, the head of the Mt. Gox Bitcoin exchange this Saturday, following fraud allegations that have brought down the company and caused significant harm to the reputation of the digital currency. In November of 2014, bitcoin was valued at over $1200 USD, with exchanges like Mt. Gox handling in excess of 70% of all…

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