Tag: mtgox

US District Judge Allows Mt.Gox Class Action Lawsuit Against Mizuho Bank to Proceed in California

Northern District of Illinois Judge Gary Feinerman, has ruled that a class action suit filed in Illinois by victims of the the Mt.Gox fraud against Japanese bank Mizuho, will be moved to the Central District of California based on long-arm statute. “California’s long-arm statute allows the exercise of personal jurisdiction to the full extent permissible under the U.S. Constitution.” Mizuho attempted to have the suit relocated to Japan on jurisdictional …
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MtGox Bankruptcy Trustee Releases Report on Status of Claims

Bankruptcy Trustee, Nobuaki Kobayashi, who is overseeing the MtGox bankruptcy case, has released a reportdetailing the progress of claims that were submitted by victims of the fraud. According to figures stated in the report, the total amount of BTC that is being held by the bankruptcy estate currently stands at 202,163.41191816. There is still an ongoing investigation by Kobayashi into the missing MtGox coins and any newly-found BTC may still …
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Mark Karpeles Arrested for Lost Coins

Recently, Japanese police arrested Mark Karpeles on the suspicion Karpeles falsified computer data regarding the outstanding balance of MtGox. MtGox, headed by Karpeles, was the first and largest Bitcoin exchange prior to its shut down. The exchange, which was first intended to be Magic: the Gathering Online Exchange (MtGOX), accounted for 80% of all Bitcoin transactions prior to folding in February of 2014. The exchange shut down after allegedly losing 850,000 …
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Is OkCoin is the next Mt. Gox?

Ever since the massive Mt Gox debacle that took place earlier this year, Bitcoin exchanges have been subjected to high scrutiny by active traders in Bitcoin market. The collapse of Mt Gox was a serious deterrent to Bitcoin’s image in the mainstream media. The exchange that once conducted 70% of Bitcoin trading volume was a scam after all. Who’s to say that there isn’t another Mt Gox in the making? …
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