Former CEO of Mt. Gox: “I Don’t Want This Billion Dollars”

The former chief executive of Bitcoin exchange Mt. Gox publicly declared that he is impassive to get profits from the bankruptcy proceedings.


In an Ask Me Anything (AMA) on Reddit, Mark Karpeles surprised the cryptocurrency community by stating he doesn’t the funds he would receive from the company’s bankruptcy.

Four years ago, former CEO of Mt. Gox was one of the controversial figures in the fledgling cryptocurrency market after his exchange unexpectedly fallen down along with 850,000 Bitcoin. At the present, the controversial Mt.Gox CEO is back to apologize for his oversight.

Previously, Tokyo-based Mt. Gox was the foremost cryptocurrency exchange. Unfortunately, in the year 2014 exchange was collapsed because of the bankruptcy and security violation. A huge amount of worth of BTC was lost at the time, causing the price of the cryptocurrency to crash.

In a Reddit AMA session, Karpeles addresses some of the criticism intended at him and the way he handled the Mt. Gox bankruptcy. Here are some of the more interesting things he has to say:

“I did my best trying to grow the ecosystem by running the biggest exchange at the time. It had big problems but still managed to hang in there. For a while. A quite long while, even, while the rest of the ecosystem caught up. At the end of the day, the methods I chose to try to get MtGox out of its trouble ended up being insufficient, insufficiently executing, or plain wrong.

I know I didn’t handle the last, stressful days of the outdrawn and painful Gox collapse very well. I can only be humble about that in hindsight. Once again, I’m sorry.”

Furthermore, he mentioned that he is not seeking to become rich, nor he is seeking for forgiveness. He also highlighted that he supports a “civil rehabilitation” plan, which would give the exchange’s creditors the capability to vote on its future.

Currently, former Mt. Gox CEO claimed that he endeavoring this to be the situation’s outcome. He also took advantage of the opportunity to apologize to the users of the exchange, stating

“never imagining things would end this way and I am forever sorry for everything that’s taken place and all the effect it had on everyone involving”.

Last month, it was disclosed Mt Gox’s trustee Nobuaki Kobayashi sold approximately $400 million worth of bitcoin and bitcoin cash, attempting to refund users. The trustee claims that it did not affect cryptocurrency markets.

What do you have to say about Mark Karpeles on Reddit’s AMA? Share with us on Twitter and Telegram.

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Oliver A

Oliver is a content marketer who is actively engaging with latest trends in the financial market. He is a writer by day ad a reader by night. Contact me at

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