Mt. Gox Whale Secures ‘Rehabilitation Trustee’ Balance of $623 Million
MtGox trustee Nobuaki Kobayashi published documents on the MtGox website on Wednesday informing the public about decisions made at the second creditor’s meeting.
MtGox went under in 2014, after handling 70% of the world’s Bitcoin transactions at that time, due to a major security breach which lost $450 million worth of investor funds. The 850,000 BTC would go on to be worth billions.
Mt Gox has gone offline taking all our Bitcoin with it. I have lost quite a lot of my money today :(
— Dan Bull 🍐 (@itsDanBull) February 25, 2014
As Rehabilitation Trustee, Nobuaki Kobayashi was placed in charge of the funds following the failure of former CEO Mark Karpeles to safely operate the exchange.
Karpeles has been accused of embezzlement and fraud, and spent almost a year in a Japanese prison, although it is unclear to what extent the security breach was malicious. Karpeles was found not guilty on charges of stealing MtGox funds earlier this month, and received a suspended sentence for his guilty verdict of producing illegal records.
He may still face class action lawsuits in the US.
Organized Crime
The case has also been tied to former BTCe operator Alexander Vinnik, who reportedly received some of the missing/stolen MtGox funds.
