Mt. Gox Comes to Haunt Mizuho, Faces Lawsuit in the USA
Mizuho Bank currently faces a class-action lawsuit in the United States for its role as a banking partner of the now defunct Mt Gox. In 2014, Bitcoin faced one of the worst disasters that turned the clock back on the whole ecosystem. That disaster was none other than the collapse of Mt Gox, a major bitcoin exchange at that time. The Japanese bitcoin exchange collapsed following a series of alleged hacking incidents resulting in over half a billion worth of bitcoins going missing. The troubles started in mid-2013 when discrepancies started cropping up. Mt Gox announced that it was hacked....
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An interesting development is taking place in the infamous Mt. Gox lawsuit, as Mizuho Bank has been accused of not revealing the full extent of the problems faced by Mt. Gox from American depositors. Mizuho Bank had claimed it would be too difficult for their lawyers to handle the Bitcoin exchange case outside of Japan and tried to shed off any responsibility due to the alleged lack of jurisdiction. But what does this mean for affected Mt. Gox users? The Role of Mizuho Bank In Mt. Gox. Very few people are aware of how Mizuho Bank was responsible for managing all of the American fiat....
A US Court has dismissed the appeal filed by Mizuho Bank against Mt Gox customers' class action lawsuit. Mizuho Bank recently found itself in a legal trouble after its association with defunct Bitcoin exchange Mt. Gox was recognized by a US court. The bank’s name surfaced in the notorious Bitcoin theft case when some of its victims claimed that their withdrawal requests was denied by the Japanese bank. The Mt. Gox victims, on the grounds of denial of rightful requests by Mizuho, later filed a class action lawsuit against the bank. According to the lawsuit, Mizuho Bank intentionally wreaked....
Mizuho is the latest in a string of organizations facing heat over connection to MT. Gox. (Reuters) Connection to the former leading Bitcoin exchange, Mt. Gox, has entangled another business partner in the exchange's highly publicized demise. One of Japan's largest lenders, Mizuho Bank Ltd., was added as a defendant to an existing U. S. lawsuit against Mt. Gox. The suit alleges that Mizuho aided Mt. Gox's fraud by providing banking services to the troubled exchange. Mizuho held fiat currency on behalf of Mt. Gox and its customers, and the amended lawsuit claims that the lender mingled....
A US judge largely denied a bid last week by Mizuho Bank to dismiss charges filed against it in a class action lawsuit tied to the collapse of defunct bitcoin exchange Mt Gox. In a court order dated 26th August, US District Judge Gary Feinerman ruled Mizhuo should face charges related to unjust enrichment and fraudulent concealment in connection with the exchange's failure. Despite claims by the bank it had no formal business relationship with Mt Gox, Feinerman found the parties had a "transactional relationship". The order is the latest to speak to the complex dealings between....
Mizuho, one of Japan's three largest banks and the banking partner of now-bankrupt bitcoin exchange Mt. Gox, has been named as a defendant in two class action lawsuits stemming from the exchange's insolvency. Reuters reported that the megabank was named as a defendant in the existing US lawsuit in which Mt. Gox is accused of defrauding customers, and a Canadian class action lawsuit blaming Gox for a security breach that allowed hackers to steal an alarming 800,000+ bitcoins. It is still not known for sure what happened to Mt. Gox's bitcoins, whether they have been lost, stolen or remain....