Thursday 27th February 2014

Sorry for the lack of timely updates in the past day. Things have been very busy.

AM: There are press outside the Cerulean tower waiting for something to happen, there are reports they are moving to the original MtGox office.

I will be arriving at the original MtGox office at around 3pm.

12:30: It appears that there is no chance of an MtGox bailout, meaning customers have little chance of seeing their funds again. The bailout document on the net was apparently written by Karpeles himself. From Two-Bit Idiot:

Due to some angry Gox depositors, I’ve been advised to disclose that Karpeles was overstating the fact that he had “lined up” investors. The truth is, in a move of desperation, Mark asked several investors for a bailout, all of which seemed to have immediately notified the authorities once they learned the extent of the fraud, negligence or incompetence at Mt. Gox.

Karpeles now is clearly in complete desperation, as are his customers. I think we’ll find him hiding inside a drainpipe, somewhere near a Starbucks outlet. What we’re waiting for now is a statement on the MtGox website saying it’s all over but don’t hold your breath for that. Even if/when he’s in jail I expect him to still be sending out messages about technical problems.

Stay tuned for more updates today.

Follow me on Twitter @The_K_meister for instant updates.

*****  16:00: We’ve been given some very interesting information about what has been going on behind the scenes at the company. Stay tuned for updates.

18:00: Neighbours of Karpeles say his family left his apartment a month ago


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