Blog Archives

180,000 BTC from Mt.Gox-associated accounts on the move … but by whom?

Posted on 7th March, 2014

While the mainstream media was distracted yesterday with the possible reveal of Satoshi Nakamoto, something massive was brewing in the blockchain. A long-dormant address moved 180,000 BTC (around $113,500,000 at today’s price) to several other addresses, and then those split even further. The initial address has several connections to Mt.Gox, fueling rampant speculation about who […]

Report: Japan weighs Bitcoin tax following Mt.Gox implosion

Posted on 4th March, 2014

It’s hardly surprising that Japanese officials are reexamining their policies towards Bitcoin. Following the half-billion dollar debacle of Tokyo-based exchange Mt.Gox’s downfall, Japan’s official stance on virtual currencies has been placed firmly in the spotlight. According to an AFP wire report, Japan’s finance ministry and the national tax agency are considering new rules, and possibly […]

Mt.Gox offically files for bankruptcy, annouces 850,000 BTC loss

Posted on 28th February, 2014

Mt.Gox CEO Mark Karpeles ended weeks of speculation today, formally announcing at a press conference in Tokyo that his long-troubled Bitcoin exchange will be filing for bankruptcy protection. The filing claims that Mt.Gox has an outstanding debt of ¥6.5 billion, or roughly $63.6 million. Karpeles also confirmed the loss of roughly 750,000 customer Bitcoins, as […]

Japan proposes international Bitcoin regulation

Posted on 27th February, 2014

Responding to questions about the closure of Tokyo-based Mt.Gox, Japan’s Senior Vice Finance Minister Jiro Aichi told reporters that international collaboration would be necessary to regulate the currency. Aichi added that Bitcoin does not fall under his agency’s jurisdiction, as it does not involve coins or notes issued by the Bank of Japan. Under that […]

Mt.Gox subpoenaed by US Attorney’s office, may be under investigation in Japan

Posted on 26th February, 2014

The worsening situation at Mt.Gox has caught the attention of the US Attorney’s office in New York. According to a story published in the Wall Street Journal yesterday, the federal prosecutors sent a subpoena to Mt.Gox asking the exchange to “preserve certain documents among other things.” While the US Attorney’s office has declined to comment […]

New statement Mt.Gox CEO Karpeles sheds no light on developments

Posted on 26th February, 2014

There has been very little information to come from Mt.Gox in recent weeks, and what details have emerged from the troubled exchange have generally come in the form of leaks or unconfirmed reports. While there have been occasional, fragmentary reports from Mt.Gox CEO Mark Karpeles, they’ve offered little insight into the situation at Mt.Gox. Today’s […] suspends suspends trading following Mt.Gox shutdown

Posted on 25th February, 2014

Bitcoin margin-trading platform announced today that it was suspending all services “until further notice” following the apparent shutdown of trading partner Mt.Gox. The UK and Singapore-based company made the announcement to customers via email. The email claims that all customer funds are secure, and that the company will honor all withdrawal requests and […]

Mt.Gox offline, rumored to have lost 744,400 BTC

Posted on 25th February, 2014

Last night, Tokyo-based Bitcoin exchange Mt.Gox went offline, feeding rumors that the troubled company was planning to announce bankruptcy. Shortly after the site went down, a document titled “Crisis Strategy Draft” surfaced on Bitcoin forums, seemingly originating from Mt.Gox. The document claims that 744,400 BTC (roughly $350 million) were stolen from the site by hackers […]

J.P. Morgan report examines Mt.Gox woes

Posted on 24th February, 2014

In a report released today, investment banking giant J.P. Morgan examined the recent “saga” of troubled Bitcoin exchange Mt.Gox. Authored by Morgan’s head of foreign exchange strategy, John Normand, the one-page report is a follow-up to their more general profile on Bitcoin released earlier this month. The contents of the report itself seem to be […]

Tokyo police shut down Mt.Gox protest

Posted on 22nd February, 2014

Yesterday, police broke up the small, loosely organized protest outside Mt.Gox’s offices in Tokyo’s Shibuya district. Police told the protestors that the demonstration was illegal, and warned them not to return without a “demonstration license.” According to protest organizers, the police were called by other tenants of the building who had grown tired of the […]