At the start of 2014, the Mt. Gox platform managed 70% of global Bitcoin transactions. And then it collapsed, leaving tens of thousands of creditors without recourse. Japanese justice has finally given them access to what now represents 9 billion dollars.
Since October 20, more than 20,000 users of, who had been dispossessed in 2014, can sigh. They will be able to recover a small part of their assets. With a qualification: this fraction has seen its value increase in the meantime.
Appeared in 2009, therequired to run a program on its , preferably 24 hours a day. But here’s the thing: how did you manage to exchange it for dollars, euros, in short? , usable in everyday life. And what if you just wanted to acquire BTC without necessarily generating it yourself? It was to provide such a service that, on July 18, 2010, Jeb McCaleb opened a Bitcoin exchange (marketplace) in Tokyo: Mt.Gox.
At Mt.Gox, the“Official” could be exchanged for cryptocurrency and vice versa. McCaleb quickly sold his business to Mark Karpeles, a Frenchman who had moved to Japan to satisfy his passion for video games and manga.
When the wheel of fortune turns the wrong way
Over the next 3 years, Mt.Gox has become the number 1 in the industry. Better yet, the platform made a big contribution to the success of bitcoin: to the extent that Mark Karpelès guaranteed the exchanges of bitcoin for currencies, the value of bitcoin increased.
Yet very quickly, Mt. Gox attracted lust. As early as June 2011, hackers managed to seize Mt.Gox’s servers and organized fictitious bitcoin transactions. To remedy this, Karpelès had to shut down its servers for seven days. In April 2013, this time, it was the surge of demand that crashed Mt. Gox’s servers and, again, bitcoin plummeted. Then, everything started again, apparently on hats.
And then, at the end of February 2014, panic: the site announces its closure and files for bankruptcy. Explanation by Mark Karpelès: Hackers have stolen 740,000 BTC from the company’s servers – the equivalent of $ 450 million. Shortly afterwards, a picket line of protesters can be seen forming in front of the company premises with signs: “ Mt.Gox give us our money back! »
Who loses wins?
Japanese justice has launched a laborious investigation. In August 2015, Tokyo police invited the press to attend Karpeles’ arrest. However, the person concerned did not confess and contented himself with pleading not guilty.
All was not lost, however. After the bankruptcy, Mark Karpelès had given the liquidator 200,000 BTC preserved from theft. Of the 130,000 clients that Mt. Gox had, 24,000 creditors came forward to recover their lost BTCs. They had to be patient.
After several years of waiting, a glimmer appeared at the beginning of January 2021. Nobuaki Kobayashi, the liquidator of Mt.Gox proposed to the former users of Mt. Gox to be able to share the 9/10e fromstill accessible – Nobuaki held them in a cold wallet (wallet ). However, the rehabilitation plan was subject to two conditions:
- a majority of voters had to approve this plan before October 8;
- a majority of creditors had to participate in the vote.
The verdict is finally in: on October 20, the Tokyo Court announced that the victims of Mt. Gox would share the famous bitcoins still under Kobayashi’s responsibility. The good news for them is that, following the recent historic rise of this currency, the interested parties will share the tidy sum of around $ 9 billion!