Hello and welcome back. has been reconstructed and reopened! The last site went down in flames after being hacked and we had to use archives to piece it back together. We’ve lost the original comments but have all the articles. This one has a more secure hosting.

It’s June 2017 and there’s a lot of confusion and teeth-grinding right now about the MtGox situation in general. As time goes on, our money seems to be slipping further and further away and our hopes of obtaining real justice are looking very hazy.

To address the elephant in the room, I am sorry that I have been silent for a long time. I have free time right now and I promise to help in any way reasonably possible.

A lot has transpired since the last post at the end of 2014. In time we hope to address any important issues which might still be outstanding.

I’ll be landing in Tokyo this week and I’m currently in the process of sourcing a major law firm there to advise on some of the ongoing issues.

Some of the main problems are:

1) Due to a legal technicality, the assets of MtGox now exceed the level of creditor debt which has been officially recognised. This means that the proceeds from the sale of our remaining 200k bitcoins (now worth $500m) will be split and anything over a certain amount will by default go to the shareholders of MtGox, mainly Mark Karpeles. Therefore as the price of bitcoin rises, we lose more and more of their value.

2) The ever-expanding bankruptcy length.

3) The incredible lack of transparency in both the bankruptcy case and the criminal case against Mark Karpeles.

There are more, but hey let’s keep this from being too controversial on a first date.

Kolin Burges

2 thoughts on “Reopening

  1. Unbelieveable that the profits from bitcoin rising in price will all be going to MtGox and not the creditors. Where exactly did I agree to have my bitcoins converted into another currency? I think the price of bitcoin should not be fixed to a point in time at all, but that the current assets should be calculated in multiple currencies. Where is the legal technicality that says it must all be consolidated into one currency?


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