On Saturday, Mark Karpeles, CEO of bankrupt bitcoin exchange Mt. Gox, which collapsed spectacularly last year, was arrested in Tokyo on suspicion of illicitly stealing $1 million from the online financial platform, the New York Times reports.
Since his arrest in 2013, Ross Ulbricht has remained the chief suspect behind the Silk Road, a sweeping and sophisticated online drug market. But today in court, his defense dropped a shocker: they claimed the market's actual kingpin was Mark Karpeles, who is infamous for running the world's biggest bitcoin…
In the latest development in the crypto-soap-opera that is the Mt. Gox bankruptcy, plaintiffs in an Illinois class action brought by angry depositors have agreed to settle its claims against the beleaguered Bitcoin exchange. The settlement agreement, filed with an Illinois court yesterday, sets up the story as a…
Mt. Gox, the beleaguered Bitcoin exchange, reportedly told a Tokyo court that it's giving up the ghost. It will shut down entirely and pay creditors out of what's left. That means its creditors are likely to get relatively few of their lost bitcoins (and other investments) back.
Those waiting to learn the fate of the Bitcoins they stored with the troubled Bitcoin exchange Mt. Gox will have to wait a little longer. The investigator appointed by the Japanese bankruptcy court, who was due to report findings today, was given until May 9 to figure out what the hell happened.
In the wake of Bitcoin exchange Mt. Gox announcing that it lost $473 million worth of the virtual currency, many people who saw their money disappear have called for CEO Mark Karpeles to be imprisoned. Well, funny thing: it wouldn't necessarily be the first time Karpeles has been arrested for fraud.
The problems keep coming for Mt. Gox, the world's biggest Bitcoin exchange. Just days after Gawker revealed a key business partnership had devolved into a $75 million lawsuit, the Department of Homeland Security seized a payment processing account belonging to the company, alleging it lied on financial documents.
Bitcoin, the virtual currency libertarian geeks expect us all to use to pay for pizza in the future, has had a rough few weeks. A series of booms and busts have sent shivers down the spines of Bitcoin enthusiasts. Now, Gawker has learned that a much-hailed partnership between two of the most prominent players in…
Bitcoin finally crashed! And then it didn't. After two weeks in the spotlight, the anonymous techno-libertarian dweeb-currency rocketed past $250 yesterday—only to lose more than half its value over just a few hours today. Only to rally back up to around $200 again, just over the last hour or so. That's millions of…
