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Updated: IRC Chat With Mark Karpeles Confirms Leaked Document’s Authenticity: Mt. Gox Is Currently Seeking A Bail Out

Last Updated April 12, 2023 7:21 AM
Guest Writer
Last Updated April 12, 2023 7:21 AM

Latest Update: Mt. Gox has been hit with a Subpeona filed by federal prosecutors in New York .  We may get our answers sooner than we thought… This also explains why Gox/Karpeles was so close-lipped.

This morning I updated y’all on Mt. Gox’s website’s newest announcement and hashed out my theory that the leaked document was authentic.  Assuming the authenticity of the document leads us to the conclusion that Mt. Gox, specifically Mark Karpeles, is searching for a buyer for Mt. Gox.  Up until this point there were still many people who believed the leaked document  was simply FUD.

a cat sitting on a desk next to a keyboard
Mark Karpeles’ cat knows more than we do about Gox at this point.

In an IRC Chat with New York Industry specialist Jon Fisher  which is also cited by Fox Business , Karpeles revealed many answers to burning questions.  Fisher also mentions that he stayed the hand of Fox Business and advised them not to publish the leaked document.

Let me excerpt some of the chat lines for you whilst simultaneously reminding you to read the entire log yourself, as I might be biased?

RelatedNews

Karpeles Confirms Crisis Strategy Draft’s Authenticity

[10:58] <JonWickedFire> Is that Crisis Strategy Draft even legit?
[11:04] <MagicalTux> more or less
[11:05] <MagicalTux> as the name suggests it’s a draft, and it’s a bunch of proposals to deal with the issue at hand, not things that are actually planned and/or done
[11:06] <MagicalTux> this said this document was not produced by MtGox
[11:07] <JonWickedFire> I saw some strategies in there that I had shared with you, but also saw some things in there that I would have never suggested anyone ever go through with as it would make you look horrible..

Karpeles dodges questions about Mt. Gox’s future (sale) and his position as CEO

[11:17] <JonWickedFire> Are you stepping down as CEO and away from gox too?
[11:17] <JonWickedFire> (If you can’t legally disclose, then just say so)
[11:20] <MagicalTux> can’t disclose that yety
[11:20] <MagicalTux> yet
[11:20] <JonWickedFire> K np.

[11:37] <JonWickedFire> What’s the plan now for you and mtgox?
[11:37] <MagicalTux> can’t comment on that yet
[11:37] <JonWickedFire> Alright.
[11:37] <MagicalTux> (mostly because doing so could compromise our current efforts)

Karpeles Reveals His Personal Stake In Gox

[12:00] <JonWickedFire> The biggest question people really have asked though is are you personally vested in mtgox with your own btc?
[12:01] <JonWickedFire> And whether or not you, like everyone else, have taken a personal hit and are in the same boat as they are in terms of taking a loss/hit from the recent events?
[12:01] <MagicalTux> [02:00:59] <JonWickedFire> And whether or not you, like everyone else, have taken a personal hit and are in the same boat as they are in terms of taking a loss/hit from the recent events? <- any BTC I own personally were on MtGox
[12:02] <JonWickedFire> How much did you lose yourself?
[12:04] <MagicalTux> Well, technically speaking it’s not “lost” just yet, just temporarily unavailable

 

Some Bitcoiners are at the edge of their seats hoping that a White Knight investor comes in and guarantees their trapped funds in some way shape or form.  This epic fall of Mt. Gox so far includes deleting an entire twitter history, halting trading, taking down the website entirely, and finally putting up a tease of an announcement.

The Bitcoin community seems pretty set on not returning to any company that follows a guide like this  in times of crisis.  Also, a loss of $300,000,000 over the course of over a year implies a massive coverup.  It also implies that Mt. Gox never self audited their books, or they might have noticed thousands of BTC disappearing every day.

Mt. Gox has to have known about the slow leak of funds out since at least the account verification requirement for Bitcoin withdrawals was announced.

It’s hard to pinpoint exactly when this was, since Mt. Gox’s twitter feed is a blank slate (they’d like you to think of it as a tabula rusa but don’t fall for the trap).  Sometime in SUMMER OF 2013, according to /r/Bitcoin history , Mt. Gox started requiring verification on certain accounts for Bitcoin withdrawals.  The blanket requirement of verification for Bitcoin withdrawals didn’t come until later in 2013.  It is possible that between the summer of 2013 and the blanket requirement that Mt. Gox was still unaware of how their money was disappearing.

For more information on the Mt. Gox coverup, check out the original source for this breaking news: Two Bit Idiot  isn’t looking so much like an idiot now is he?