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Mt Gox

Russian Lawyers Claim 200,000 BTC Lost in Mt. Gox Can Be Recovered

Russian law firm Zheleznikov and Partners proposed legal action in Russia that should enable its lawyers to recover up to 200,000 Bitcoin (BTC) lost in the Mt. Gox fiasco. Recover losses on behalf of Mt. Gox victims On Sept. 12 in a Q&A with Andy Pag, a former BBC journalist, the Moscow law firm outlined …

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Bitcoin’s Early Days: How Crypto’s Past Is Much Different Than the Present

<header class=”article__header”> </header> <strong>Over the last 24 hours, cryptocurrency enthusiasts have been discussing a transaction that saw 94,000 <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener noreferrer”>BTC</a> sent to an unknown wallet. The hoopla over the large transaction shows how things have changed significantly over the last decade. Back in cryptocurrency’s early days, between 2010-2012, large bitcoin transactions …

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Bitcoin History Part 16: The First Mt. Gox Hack

<header class=”article__header”> </header> <strong>No one remembers the first Mt. Gox hack. It was a small sum, even by 2011’s standards, and the exchange reimbursed all users. The incident was to prove significant, however, for it set in motion a string of attacks on other bitcoin platforms that began the very next day. By the time …

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Judge: Mt. Gox CEO Mark Karpeles Must Face US Class-Action Lawsuit

District Judge Robert Kelly refused the request of the former CEO of now-defunct cryptocurrency exchange Mt. Gox, Mark Karpeles, to dismiss the U.S. class-action lawsuit against him, industry news outlet Coindesk reports on July 30. Dismissal request rejected Per the report, Karpeles previously filed for the dismissal of the lawsuit alleging that he has hidden …

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Report: Fortress Offers to Buy Mt. Gox Bitcoin Claims at $900 a Piece

Fortress Investment Group is buying bitcoin (BTC) claims from Mt. Gox creditors, according to a report by CoinDesk on July 8. The Japan-based cryptocurrency exchange Mt. Gox filed for bankruptcy in 2014 after losing $473 million worth of bitcoin at the time due to an apparent hack. Bitcoin reportedly experienced a subsequent decline in value, …

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Investor Fortress Will Buy Mt Gox Creditor Claims for $900 Per Bitcoin

Creditors of Mt Gox waiting to get their bitcoin back from the long-defunct exchange can now get pennies on the dollar by selling their claims to Fortress Investment Group. In a letter sent to creditors, Matthew Hourigan, a managing director at the New York-based private equity firm, said he is purchasing these claims for a …

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Bitcoin’s Big Price Drop Is the Latest in a Long History of Flash Crashes

<header class=”article__header”> </header> <strong>On Wednesday, June 26, the price of <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener noreferrer”>BTC</a> came close to reaching $14K. One hour later, it had dropped by close to 18%. Such events are known as a flash crash, a moment in time where a rapid-sell off happens and often times a few exchanges become …

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Mt. Gox Founder Knew of Security Risks Years Before Collapse, Lawsuit Claims

Mt. Gox founder Jed McCaleb is being sued by two traders who used the doomed exchange, court documents filed on May 19 show. Joseph Jones and Peter Steinmetz have accused the ex-CEO of fraudulently and negligently misrepresenting the exchange. The pair also allege that McCaleb was aware of “serious security risks” back in late 2010 …

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Mt Gox Founder Hit With Lawsuit Over Alleged Fraudulent Misrepresentation

Jed McCaleb, the founder of Mt. Gox, faces a lawsuit over his handling of the now-defunct bitcoin exchange. The two plaintiffs, former Mt. Gox traders Joseph Jones and Peter Steinmetz, filed a complaint with a court in California on May 19, accusing McCaleb of “fraudulent” and “negligent” misrepresentation of the exchange, which partially led to …

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“CoinLab Is a Big Stopping Block”: Mark Karpeles Talks Mt. Gox Creditor Claims and Life After Trial

Disclaimer: The interview was edited and condensed for publication Mt. Gox crypto exchange is well remembered — but mostly for a bad reason. The year of 2011 marked the biggest heist in terms of the amount of crypto stolen, an eye-watering figure of 850,000 bitcoins (BTC), worth around $473 million at that time. Four years …

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