Kraken to Assist in Search for Missing Mt Gox Bitcoins

Kraken to Assist in Search for Missing Mt Gox Bitcoins

Kraken's Ayako Miyaguchi (left with mic), Jesse Powell (centre with mic), and Mt Gox bankruptcy trustee Nobuaki Kobayashi (right). Digital currency exchange Kraken announced today that it has been chosen to support the investigation of Mt Gox's missing bitcoins, manage the claims process and distribute the defunct company's remaining assets to creditors. The announcement was made at the second hearing for Mt Gox creditors held today at Tokyo's District Court. Speaking at a press conference following the hearing, Kraken CEO Jesse Powell said he was "very humbled for the opportunity to help....


Related News

Japanese Police Suspect 99% of Mt. Gox Bitcoins Missing Due to Fraud, Not Transaction Malleability Hack

The joint Japanese and American government investigation into the whereabouts of supposedly stolen Mt. Gox bitcoins has announced a key discovery. The Japan News, Japan's largest English language newspaper, is reporting that fraud is the cause of the "disappearance of 99% of Mt. Gox bitcoins." According to sources in the Metropolitan Police Department (MPD), only about 7,000 Gox bitcoins were lost due to cyber-attacks. The remaining 99% of the missing 650,000 bitcoins is "highly suspected" of disappearing during a period when Mt. Gox was being fraudulently run by an unknown party. Also....

Kraken Selected for MtGox Investigation

Kraken Bitcoin Exchange. Bitcoin exchange Kraken has been selected to aid in the investigation of missing Bitcoin following the heist at the Mt Gox exchange. Kraken will also be involved in the distribution of remaining assets to the creditors. This decision was arrived at after an extensive evaluation process where multiple companies were considered and vetted. Kraken stood out for several reasons, chief among them being its proven track record in managing its exchange. The company has demonstrated stability and reliability in customer support. It also possesses sufficient expertise to....

Mt. Gox Investigation Continued: WizSec Report Released!

In 2013, Mt. Gox was the exchange that all Bitcoin users knew. Having the most liquidity and volume, this is where most Bitcoins were exchanged. Whether it was the transaction malleability exploits, trade withdrawal exploits or the infrastructure is not being able to handle the load, Mt. Gox went to dust, losing 850,000 Bitcoins. In USD equivalent at the time of the collapse, this equated to over $400 million customer funds that were unaccounted for. Many companies and individuals attempted to investigate as well as assist in obtaining lost Bitcoins in any way they could. Kraken was even....

Kraken & Tokyo Trustee Announce ‘Significant Progress’ in MtGox Claims Investigation

Bitcoin exchange Kraken and the Tokyo District Court-assigned Trustee assigned to the MtGox creditors’ claims investigation have revealed that there is “significant progress” being made, in an update today. In an email communicated to CCN today, an update from Kraken and Tokyo District Court-assigned Trustee Nobuaki Kobayashi confirms that “significant progress” has been made into the investigation into claims from creditors of MtGox. Trustee Kobayashi stated: Although the investigation into MtGox claims is still ongoing, we have made significant progress for creditors. The Court-appointed....

Mt Gox Customers to receive Bankruptcy Distributions in Bitcoin

Mt Gox customers can now receive bankruptcy distributions in Bitcoin, among several other benefits by becoming a user of the cryptocurrency exchange Kraken. According to the San Francisco-based Bitcoin exchange's official blog post, Kraken has begun the process of accepting Mt Gox creditor claims and is offering up to $1 million in free trade volume per creditor as a bonus for claiming funds through Kraken. With the support of Kraken, the Mt Gox's trustee has been able to create a system which will enable customers to file bankruptcy claims and receive compensation via a smooth and simple....