MTGOX Trustee still investigates disappearance of Bitcoins

The Trustee of notorious Japanese Bitcoin exchange MTGOX today published the report distributed at the fourth creditors’ meeting. In the report, the Trustee highlights the current status of claims against the failed company, as well as the ongoing investigations into the disappearance of Bitcoins from the Exchange.

Below are some of the key points from the report.

Status of Filing of Bankruptcy Claims at the end of August 2015:

  • Number of bankruptcy creditors: 24,704;
  • Total amount of the bankruptcy claims filed: JPY 2,663,398,225,570 (of which the amount of the claims filed by the three largest creditors amounted to JPY 2,533,517,211,285).

Investigation of Claims

Today – September 9, 2015, was the date set for the investigation of claims. However, as the Trustee is still investigating whether or not the BTC and currencies disappeared, as well as the accurate balance of the account held by each user of the MtGox exchange, he has neither approved nor disapproved any of the bankruptcy claims yet.

Therefore, the Trustee has decided to extend the date for the investigation of the claims filed by the exchange-user creditors to the date of the next creditors’ meeting.

He said that he plans to approve or disapprove the claims filed by the creditors other than the exchange-user creditors today.

Investigation of Disappearance of BTC

The Trustee is conducting investigations into whether or not the BTC and currencies have disappeared in the bankrupt entity and if they have, the background for such disappearance.

In addition he is co-operating with the Metropolitan Police Department on an investigation into the case.

Mark Karpeles arrestedRobert Marie Mark Karpeles

As the bankrupt entity has loan receivables totalling JPY 136,175,781 against Robert Marie Mark Karpeles, who is the representative director of the failed company, the Trustee is considering taking legal action against him.

Robert Marie Mark Karpeles was arrested on August 1, 2015 on suspicion of unauthorized creation and use of private electromagnetic records and on August 21, 2015 on suspicion of corporate embezzlement, respectively. He is currently under detention.

Probability of Distribution

At present, the Trustee notes, the probability of distribution and the timing and method thereof, etc. have not yet been determined. He continues to consider whether or not he will make distributions by way of distributing BTC.

To view the report from today’s MTGOX creditors’ meeting, click here.

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