CEO Mt. Gox Mark

CEO Mt. Gox Mark Karpeles May Raise Over $ 800 Million After Paying Off Exchange Creditors

Once the largest Bitcoin exchange Mt. Gox went bankrupt in 2014 year. Site CEO Mark Karpeles appeared in court in July this year and declared that he was not guilty of money laundering and embezzlement, despite the fact that his direct participation in the loss of a million bitcoins, which at that time was estimated at $ 400 million, few doubts.

Over the past 3 years, the bitcoin rate has grown from $ 400 to $ 7000, that is, 17 times. During the bankruptcy investigation of Mt. Gox discovered 200,000 bitcoins to be paid to the exchange’s lenders. Today they are on the account of a company owned by Karpeles.

Now this may seem very strange, but at the beginning of the process of eliminating Mt. Gox lenders requested payment not in bitcoins, but in Japanese yen. Accordingly, after the payment of all the funds due to them, the remaining money will belong to none other than Karpeles..

CEO Mt. Gox Mark Karpeles May Raise Over $ 800 Million After Paying Off Exchange Creditors

“When it’s over, Karpeles will be in a good plus,” lender Mt. Gox Colin Burges, who held 311 bitcoins on the exchange.

Burges and other lenders of Mt. Gox will receive your money at the rate of 2014, that is, about $ 400 for 1 bitcoin. Accordingly, instead of $ 2.1 million for 311 bitcoins, Burgess will receive only $ 130,000..

CEO Mt. Gox Mark Karpeles may receive over $ 800 million after settling with exchange lenders

“If [bitcoins] are sold, I think the proceeds will not represent any significant amount to make a problem out of it,” said Karpeles, who denied his guilt and the guilt of Mt. Gox lost a million bitcoins belonging to the site’s clients.

According to the WSJ, 88% of Mt. Gox is owned by Tibanne, a company registered in Karpeles. After calculating the claims of creditors, the liquidation balance will be $ 977 million. Of these, 88%, that is, $ 859 million, will belong to Karpeles, due to which the users of Mt. Gox lost about $ 7 billion today bitcoin rate.

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