Author: Karly Marie
Mt.Gox, once the world’s largest Bitcoin exchange, has announced the discovery of 200,000 bitcoins in a previously forgotten wallet. This revelation comes weeks after the Japan-based exchange declared bankruptcy, reporting that 850,000 bitcoins—worth hundreds of millions—had vanished. The Discovery: What Happened? According to CEO Mark Karpeles, on March 7, 2014, Mt.Gox identified an old-format wallet, last used before June 2011, containing approximately 200,000 BTC—valued at $116 million at the time. The firm reported the find to its lawyers on March 8, before moving the bitcoins into more secure “offline” wallets. Does This Change Anything for Investors? This finding reduces the total…
MtGox Goes Offline, Then Bankrupt In a dramatic turn of events, MtGox, once the world’s largest Bitcoin exchange, has filed for bankruptcy protection in Japan. The move comes just days after the platform mysteriously shut down, leaving users unable to access their funds. Speaking through his lawyers, MtGox CEO Mark Karpeles had previously reassured customers that he was “working hard” to resolve ongoing issues. But now, it seems those efforts have fallen short, as the exchange crumbles under the weight of a massive financial disaster. A $350 Million Heist? Reports suggest that MtGox was forced to shut down after discovering…
Ross Ulbricht, the alleged creator of Silk Road, has pleaded not guilty to all charges, including drug trafficking and money laundering. With his trial set for November, the case raises major questions about online anonymity and law enforcement’s reach into the dark web.