Ex-CEO of Mt. Gox, Mark Karpeles Starting a New Blockchain Business

Mark Karpeles, the founder of the infamous, fallen Bitcoin exchange Mt. Gox is allegedly starting a new blockchain business in Japan.

This was reportedly told by Karpeles himself in the comments to the press attending a news conference today at the Foreign Correspondents’ Club of Japan in Tokyo, according to the Associated Press.

Karpeles allegedly told the press that “he wants to make Japan a global leader in blockchain”. What is it that he is planning to do exactly, when, and how is still unknown. All we know for now is that he has plans for a new blockchain business and that it will be in Japan.

This is an interesting news, given that the former Mt. Gox CEO was arrested in Japan in 2015 after his bitcoin exchange suffered a hack and subsequently collapsed in 2014. He spent eleven months in detention and, even though the prosecutors had asked for a 10-year prison sentence, Karpeles has received a suspended sentence of two years and six months, under the condition that he maintains a good record over the next four years in order to avoid jail time. He is now appealing a conviction by a Japanese court for manipulating electronic data which he was found guilty of by the Tokyo District Court.

As a reminder, the exchange Mt. Gox filed for liquidation in April 2014, claiming it was hacked. They announced that approximately 850,000 Bitcoins belonging to customers and the company were missing and likely stolen, which is an amount valued at more than USD 450 million at the time. However, a few weeks later, around 200,000 were somehow found.

In August 2018, Nobuaki Kobayashi, the trustee of Mt. Gox, announced in a note that the online rehabilitation claim filing system was available, but strictly for individuals who were the victims of the hack, while the corporate creditors would have to wait. In January this year, Kobayashi announced the new schedule and deadlines for creditors to file proof of their claims, after which the rehabilitation plan to the court was submitted.

Source: cryptonews.com

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