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Mt Gox

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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Former Mt Gox CEO Mark Karpeles Announces New Blockchain Startup

<header class=”article__header”> </header> <strong>Former Mt. Gox CEO Mark Karpeles is dipping his feet back into the crypto industry as he wants to help Japan become a powerhouse within the blockchain economy. The former CEO of the now-defunct exchange told the media on June 5 about his new venture called Tristan Technologies.</strong> Also read: Mt Gox …

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Former Mt Gox CEO Karpeles Launches Startup to Build a Blockchain OS

Mark Karpeles has revealed he’s “starting from zero” with a new blockchain project soon after escaping most charges in a court case over the collapse of bitcoin exchange Mt. Gox. Talking to reporters at the Foreign Correspondents Club of Japan on Wednesday, The Mainichi reports, Karpeles said his new startup will develop a secure operating system …

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Cryptopia Suits Gather Steam as Another Failed Exchange Is Bound for Court

<header class=”article__header”> </header> <strong>When cryptocurrency exchanges fail, a seismic shock shudders through the cryptosphere. With thousands of users, from traders to companies, left out of pocket, litigation is inevitable in a bid to claw back some of the losses. Cryptopia is the latest in a long line of exchanges to face a litany of lawsuits …

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Biggest Heists in Bitcoin History and How They Were Pulled Off

<header class=”article__header”> </header> <strong>Bitcoin’s history is rife with hacks and heists, sometimes resulting in six-figure bitcoin losses and businesses going bankrupt, unable to pay their customers back. A new video by Bitcoin.com explores the largest bitcoin heists in history and explains how each one was pulled off.</strong> Also read: How to Earn Bitcoin Cash Income …

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