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Stonehenge
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Mt Gox CEO arrested in japan
#22027493 - 08/01/15 09:32 AM (8 years, 5 months ago) |
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http://www.bbc.com/news/world-asia-33745611
The ceo of failed bitcoin exchange mt gox, mark karpales, has been arrested in japan on charges related to the disappearance of some $387M worth of bitcoins. This is good news for those cheated by mt gox and gives hope for recovery of the money. Karpales, who is widely suspected of stealing the coins may give back the money in exchange for a reduced sentence.
Does anyone know how to get confirmation of a claim against what remains of mt gox's bitcoins? You can make a claim but confirmation is hard to get.
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geokills
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Re: Mt Gox CEO arrested in japan [Re: Stonehenge]
#22028082 - 08/01/15 11:56 AM (8 years, 5 months ago) |
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I sent in a paper claim, as I was having trouble accessing their online claim form - it just kept spitting me back out to the login screen. My paper claim form was sent in at the end of June, and I received an email confirmation with my creditor number almost exactly one month after mailing. I mailed my form in via standard post. Somehow I doubt arresting Karpeles is going to achieve any tangible benefit for Mt Gox creditors. I'll consider it a victory if I get 20% of my money back.
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Stonehenge
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Re: Mt Gox CEO arrested in japan [Re: geokills]
#22028325 - 08/01/15 01:04 PM (8 years, 5 months ago) |
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I got no such confirmation, just a notice about the deadline being extended. I will try sending an email but I doubt any answer will come. I don't think anyone was able to do it online. That online form must be a scam.
If karpales is looking at serious jail time he may "find" a lot of money to pay back.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
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TravelerOfSorts
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Re: Mt Gox CEO arrested in japan [Re: Stonehenge]
#22028383 - 08/01/15 01:14 PM (8 years, 5 months ago) |
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how can youg uys expect to get your tangible money back from this being the first known loss of wealth in artificial tender. Technically your trying to get pixels back?
The joe rogan experience has a great guest on about mt gox. https://www.youtube.com/results?search_query=bitcoin+joe+rogan
joe was really into this stuff so with andreas you'll get all sorts of info regarding the mt gox in the early podcasts, I've heard them a few times.
-------------------- a soul of solitude but a master of ecstacy in waiting for my rebirth cycle i have hopes that when mushrooms find me it will occur then and i can go about the world as a medicine man walking staff in one hand spaceship in the other a journeyman of nature soon to be stepping up to novice hopefully i will have time to become an expert, and i believe only in death will i become a master
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geokills
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Re: Mt Gox CEO arrested in japan [Re: Stonehenge]
#22028700 - 08/01/15 02:08 PM (8 years, 5 months ago) |
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Stonehenge, your best bet would be to call, tell them you submitted an online claim form and request your creditor's ID number:Quote:
Telephone: +81-3-4588-3922 Operating Hours: Monday to Friday (excluding Japanese national holidays), from 10 a.m. to 5 p.m. (Japan time)
If they cannot provide one for you, I would mail in the paper claim form asap:Quote:
MTGOX Co., Ltd. Office of Bankruptcy Trustee Suite 202, Kojimachi 3-chome Building 3-4-1 Kojimachi, Chiyoda-ku, Tokyo Japan 102-0083
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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geokills
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Quote:
TravelerOfSorts said: how can you guys expect to get your tangible money back from this being the first known loss of wealth in artificial tender. Technically your trying to get pixels back?
It's the same as any bankruptcy proceeding, tangible assets are sold/auctioned and the recovered value is distributed to creditors proportionally to their claim. The Japanese bankruptcy trustee has already recovered a minimum of 200,000 bitcoins, and will combine that value with any other assets (e.g. bank accounts, subsidiary/affiliate companies, computers, office equipment, real estate, accounts receivable, etc), subtract the bankruptcy proceeding costs and distribute the remaining value to the creditors, proportional to their total claim against Mt Gox. Obviously it won't be total payback, but creditors are likely to receive something.
One of the preliminary documents in the bankruptcy proceeding indicates ¥ 3,990,797,660 in assets vs ¥ 8,732,190,301 in liabilities. Now, I highly doubt all of those assets are recoverable, and other fees will also eat into the final return to creditors, hence why I would consider a 20% return a victory.
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TravelerOfSorts
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Re: Mt Gox CEO arrested in japan [Re: geokills]
#22029141 - 08/01/15 03:51 PM (8 years, 5 months ago) |
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even if you got 20% back do you mean 20% of the bitcoin or their current value?
*** because its value increased since happening correct geokilla?
-------------------- a soul of solitude but a master of ecstacy in waiting for my rebirth cycle i have hopes that when mushrooms find me it will occur then and i can go about the world as a medicine man walking staff in one hand spaceship in the other a journeyman of nature soon to be stepping up to novice hopefully i will have time to become an expert, and i believe only in death will i become a master
Edited by TravelerOfSorts (08/01/15 03:51 PM)
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geokills
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Bitcoin is worth roughly half of what it was at the time Mt Gox declared bankruptcy. When I say 20%, I mean 20% of my account value, inclusive of both bitcoins and cash that was held in my account at the time I lost access to it. Frankly, from the moment Mt Gox declared bankruptcy, I have not expected to see a dime. I was pleasantly surprised when I learned that they recovered 200,000 btc early in the bankruptcy process, and figure that any payout at this point is better than the total loss I had accepted.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Stonehenge
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Re: Mt Gox CEO arrested in japan [Re: geokills]
#22029502 - 08/01/15 04:57 PM (8 years, 5 months ago) |
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I sent in papers too, sent them priority mail. I will try the phone number but I don't speak Japanese. I will try writing again too but I doubt that will be fruitful.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
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crazybean
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Re: Mt Gox CEO arrested in japan [Re: Stonehenge]
#22169351 - 08/31/15 02:15 PM (8 years, 4 months ago) |
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Good to see him behind the bars.
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Stonehenge
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Re: Mt Gox CEO arrested in japan [Re: crazybean]
#22169731 - 08/31/15 03:36 PM (8 years, 4 months ago) |
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They are bringing heavier charges against him. Even if not a dime is wrung out of his fat ass, it will be justice to see him locked up. They say he spent $48,000 for a luxury bed, among other things.
http://www.coinspeaker.com/2015/08/20/mt-gox-ceo-mark-karpeles-faces-rearrest-over-2-6m-in-bitcoin-theft-11634/
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
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