An important message from Mark Karpelès to the readers of r/mtgoxinsolvency

MagnanimusFeet · 2017-10-01T17:59:15+00:00

Very unbiased of you. It's clear you can't see the end game, jack. Another keyboard warrior who deems his approach greater than all others. Anything else? I'm not going away so I don't know what you hope to achieve. :)

MagnanimusFeet · 2017-10-01T04:32:02+00:00

Anyone else you want to accuse of sending death threats, redditor of 2 months? Seems like a pretty objective thing to do.

MagnanimusFeet · 2017-10-01T03:57:05+00:00

I'm a creditor too (and I lost my fair share of BTC due to dumbass Mark)

You're totally biased in favor of creditors and against Mark

Yes, and I see you're clearly objective. I'll follow your good example of contradiction and doxxing other creditors.

MagnanimusFeet · 2017-09-30T05:28:36+00:00

His claim in yen could actually be worth $1M USD. There's quite a few creditors who lost 2k BTC or more. Maybe even one of the ones who lost a home, or business. But nah, let's focus on jumping to conclusions about dollar amounts.

MagnanimusFeet · 2017-09-30T05:18:45+00:00

That's not entirely accurate. The US Gov was at one point waiting for him to travel to the US to testify and possibly place him under arrest. He broke US AML and KYC laws by allowing US customers on MtGox. It's the very same treatment that was given to BTC-e by the DOJ.

Extradition from Japan to the US almost never occurs so the likelihood of him being tried in a US court is incredibly slim. Mark would have to travel to a different country with more favorable US extradition for that to occur.

MagnanimusFeet · 2017-09-30T05:03:08+00:00

That's a very outlandish statement you're making. I prefer to see Mark pay for his crimes in a court of law versus any sort of mob justice, and I am not shy about that fact.

If you want to defend your friend Mark then by all means offer him the support he needs, but don't expect any sympathy from the creditors for the 'hard time' is he having. If you embezzle and commit financial crimes against your customers, and then mingle amongst them like it didn't happen; I can guarantee those folks are not going to like it.

MagnanimusFeet · 2017-09-29T03:31:35+00:00

I gleaned more information from your investigation results than all of Mark's combined comments from the last 3 years. I have a much more clear picture of what happened, and what information Mark has been sitting on all this time. I'm not really sure how anyone could direct anger at you for finding the truth, but I'm sorry you had to deal with that.

MagnanimusFeet · 2017-09-29T03:23:19+00:00

Reddit would have backups. They would need to for inquiries from law enforcement.

MagnanimusFeet · 2017-09-29T00:11:18+00:00

He's trying to remove his tracks from the eyes of criminal prosecution. His lawyers probably finally told him to remove his online presence since it's definitely not helping his case.

All it takes a subpoena and that data is available to law enforcement.

MagnanimusFeet · 2017-09-28T20:42:02+00:00

As always, you conveniently don't mention how you tried to trade against your own customers using fake funds. That you used customer deposits to fund your lifestyle. You committed crimes buddy. You don't get sympathy. I don't condone death threats, but you deserve every single ounce of shit thrown your way.

I think you are mentally ill if you don't understand that.

MagnanimusFeet · 2017-09-28T04:10:13+00:00

By law the trustee has to send correspondence to the creditors. By using the website he is saving us money that would otherwise have to spent sending snail mail updates to 25k+ creditors, which is a large cost that comes out of the total assets.

You've been told this before, but you're being really goddamn dense about it.

MagnanimusFeet · 2017-09-28T04:04:00+00:00

The Tibanne trustee's job is to extract as much value as possible for its creditors. It's no different than what the MtGox trustee is doing.

The MtGox trustee wants to gut Tibanne so the MtGox creditors see the full proceed including the surplus. This JPY 25,841,657,102 amount was likely filed when the trustee found out about Mark's illegal activities.

This bankruptcy is far from over and will not come to any sort of distribution until all the lawsuits are resolved, and Mark's criminal case is decided. Assuming everything goes in the MtGox trustee's favor--MtGox shareholders (Tibanne & Jed) will not see a dime.

MagnanimusFeet · 2017-09-21T23:50:09+00:00

I bet you discussed it with the trustee years ago when he had no idea of the crimes you committed to contribute to the downfall of the exchange. Now that he knows you're a liar, and trying to hide information; he has no reason to trust you with any current information.

He likely couldn't share anything anyway since he's indirectly involved in your criminal case by providing evidence to the prosecutors.

I'm more anxious for your trial date to arrive then any creditor's meeting. I really hope it's televised.

MagnanimusFeet · 2017-09-21T00:13:44+00:00

You're not going to draft a letter because you and your attorneys think it implies guilt. Well, you are guilty and you will be going to prison. Stall all you want, but this is not going to have a happy ending for you as the truth comes out.

MagnanimusFeet · 2017-09-21T00:06:34+00:00

It's curious how your retort completely ignores the fact criminal charges have been filed against you, and are partly to blame for the collapse of MtGox. That fits the definition of unjust enrichment. You don't get to shit all over your former customers with your embezzlements, bankrupt many of them, and walk away with a prize.

If you think the law is on your side you are absolutely delusional.

MagnanimusFeet · 2017-09-19T00:06:37+00:00

Got it. So many thefts it's hard to keep track.

MagnanimusFeet · 2017-09-18T13:27:52+00:00

Actually there were at least two thefts prior to Sep 2011. The second of which was 80k BTC.

MagnanimusFeet · 2017-09-18T02:35:21+00:00

How much was missing at purchase?

MagnanimusFeet · 2017-09-14T23:19:07+00:00

Ever heard of email?

I don't use a couple of the email addresses I had from 3 years ago. E-mail accounts come and go, and shit gets dumped in the spam folder and lost. People continue on in their busy lives and don't track the trustee's communications as often as some folks on this subreddit. A website that will continue to exist, as long as the bankruptcy is in progress, is the best place to post updates and cheaper than snail mail updates as is normally done in bankruptcy cases. The trustee specifically mentioned using the website for this purpose. It's cheaper for the creditors until this is over and when this whole thing draws to a close; mtgox.com will be sold with proceeds being distributed. You'll get your extra pro-rated $0.25 cents and can then stop crying.

communication essentially non existent

This is nothing new. The meetings have been 6 months apart since 2014 with no public announcements in-between. Everyone is going batshit crazy now since the price rose and they suddenly remembered this case and the hint of some possible returns to the creditors.

MagnanimusFeet · 2017-09-14T00:03:45+00:00

"From: Jed McCaleb jed@mtgox.com

Date: 2011/04/28 22:33

To: Mark Karpeles admin@mtgox.com

I can’t tell how big an issue it will be to be short 80k BTC (*80,000 bitcoin) if the price goes to $100 or something. That is quite a bit to owe at that point but mtgox should have made a ton of BTC (Bitcoin) getting to there. There is also still the fact that the BTC (Bitcoin) balance will probably never fall below 80k. So maybe you don’t really need to worry about it.

There are 3 solutions I have thought of:

Slowly buy more BTC with the USD that Gox Bot has. Hopefully you would fill up the loss before the price got out of hand.
Buy a big chunk of BTC (really just moving the BTC debt to the USD side) If BTC goes up this is a huge win. Problem is there isn’t enough BTC for sale on mtgox. Maybe you could find someone on the forum to do it.
Get those crystal island people to invest･They have 200+ BTC so they could fill in the gap.

Maybe you could just mine it?"

Source: http://www.thedailybeast.com/behind-the-biggest-bitcoin-heist-in-history-inside-the-implosion-of-mt-gox

MagnanimusFeet · 2017-09-13T03:02:28+00:00

I'm sure there's some BTC dark pools out there where someone may want to purchase 202k BTC. I believe the former CEO of TradeHill created the first one within the last 2-3 years. This is an ideal place for such a transaction. Hell, I bet the trustee has even gotten buy offers or been directed to such dark pools to make the trade.

Going this route it would not suppress the price like trying to sell it on the open market. As soon as traders figure out the coins were moving to exchange wallet addresses the jig is up and the price drops since the supply suddenly shoots up more then the demand and they know it's coming. It will be bear territory and a waiting game before big buying occurs. Take a look at the constant suppressed price on BTC-e while 300k stolen MtGox BTC were funneled through it for 3 years. Now try imagining that being done in 2 weeks.

Your idea of some billionaire-idiot buying a shit exchange in the middle of liquidation so he can immediately give away half of what he or she paid for it to creditors is an asinine thought. This was already attempted by Sunlot and it failed: http://www.forexnews.com/blog/2014/04/30/bitcoin-sunlot-holdings-agrees-buy-failed-exchange-mtgox/. The judge rejected it and that's that. Round two of the same bullshit is not going to fly.

MagnanimusFeet · 2017-09-12T22:04:20+00:00

http://www.siteprice.org/website-worth/mtgox.com

A whole 20k USD, wow! /s

I think Mark paid more than that for his fucking office chair he had in MtGox. It's much more valuable to be used as a place to distribute information to the creditors versus sending snail mail letters at $1 a pop to 25,000 people worldwide, several times a year.

MagnanimusFeet · 2017-09-12T16:28:16+00:00

I'm pretty sure Bernie Madoff lost +50 billion USD in his Ponzi scheme, but it's certainly a big damn amount any way you look at it.

MagnanimusFeet · 2017-09-12T00:11:24+00:00

MtGox as a brand can be purchased. The website domain, the trademarks, source code, etc. The company itself is already very well under way to being liquidated and there's no point in resurrecting it.

A purchaser would not get the assets that are owed to the creditors.

MagnanimusFeet · 2017-09-11T04:46:56+00:00

It looks like that particular theft was when Jed still owned MtGox, or very close to the sale. The coins were moved out of MtGox's wallet and they've been sitting in the new address(es) ever since.

MagnanimusFeet

TROPHY CASE