Tuesday 25th February 2014

Today could be the last day of the MtGox saga.

Trading on MtGox has stopped.

Coinbase has posted an enigmatic statement from many of the world’s major exchanges regarding the insolvency of MtGox. It mentions:

“This tragic violation of the trust of users of Mt.Gox”

but without explaining precisely what it’s referring to. This statement has since been edited to remove the word ‘insolvency’. It appears that they are pre-empting some formal notification of what could be the collapse of MtGox and loss of customer funds.


An article has appeared on the internet claiming MtGox have lost 744,408 bitcoins due to theft and only have 2,000 left. There is currently no reason to believe that the claims in this document are authentic, but the timing with the Coinbase statement is very interesting.



13:20: Currently the MtGox website is only loading a blank page.

15:45:  Karpeles is not at his apartment and his mail has been backing up. It appears that he may be in hiding. Has he skipped the country?


Watch here for further updates.

On ending of the protest by police on Friday 21st Feb


On Friday 21st February at 5:15 pm the police ended the protest. They were not apparently called by Tibanne or MtGox but by another tenant of the building who said we were “scaring” him.

We were 2 people sitting in the street on miniature seats with laptops and protest signs.

However we also had 8 visitors at the time of the police arriving and this may have seemed frightening to some people. Many people in Japan find a group of foreigners intimidating and most of the group were non-Japanese. We were all standing well away from the building and its street entrance, actually outside the neighbouring building, so this was a little unfair. We were not carrying any protest signs or engaged in any protest activities at the time other than chatting to visitors.

So what next?

The protest will be continuing, but in order to avoid problems with the police we will need to make some changes. We are looking into our legal options and we are considering what other arrangements we might make. If you plan to visit us please check here at mtgoxprotest.com first to make sure you are going to the correct place. If you wish to arrange anything you can email kolin.burges@gmail.com

On MtGox’s update on 20th Feb

We’re not surprised by this update but definitely extremely disappointed.

Same old story – however things are different now and more desperate. Tension is building fast and many people are running out of patience. The price has gone under $100 which is less than 10% of the price from before this episode began. People are getting very worried indeed and are willing to part with their coins for 10% of their former worth just for a slight increase in the chance of getting some of their investment back. People have started to shout at the Tibanne building.


Thank you for your patience this week while we are working on re-initiating bit coin withdrawals

I’m not sure which patience is being referred to here. Maybe that of the anonymous customer in the iron mask who’s been shouting angrily at the building?

Or that of the protesters chanting at the building? Or maybe the international media storm?

Friday 21st February 2014


Our live video feed with QA session is at http://ustre.am/1aqKD

Our setup is getting more professional every day. Now we have matching seats!

12:40: Back to 2 of us at the moment and things are calm here. Aaron is doing his QA on the feed and I’m struggling with getting my internet to work well.


A lot of people came this afternoon and today has been by far the busiest yet, with press turning up regularly and people who’ve heard of the protest coming along to chat and hang out. Things are certainly heating up.

We are getting 250-550 people watching at once on the live stream!

I’ve been so busy that I was not able to update Twitter and this blog, sorry about that.

We heard that Roger Ver came along with some teas but that was in the morning before we arrived. Sorry we weren’t there!

Thanks to the other people who brought stuff.

Towards the end of the day we had 8 visitors hanging around and the police were called out and ended the protest around 5:15pm. We were told that we cannot continue the protest there, even if there’s just 2 people. We are currently unsure of the legality of this but are trying to sort something out. We went to the police station to ask for a demonstration license but were told for a license you need a demonstration route with start and end points. We are exploring our options but if anyone is more familiar than us with the protest laws please get in touch at kolin.burges@gmail.com

On Monday we will be continuing the protest but we’re unsure of the location. If you plan to visit us please stay updated with this site, or email kolin.burges@gmail.com

Thursday 20th Feb 2014 – Where are MtGox? Live video feed at http://ustre.am/1aqKD


We are outside their original office now, the receptionist claims that MtGox have moved away but their parent company Tibanne are still here.

There is various speculation about what could be going on.

13:00 We set up a video announcement at 13:00 where Aaron explained the situation with MtGox’s whereabouts and then took some Q&A. We had some 550 people tune in for this. According to the receptionist MtGox have officially left the building.

15:00 Tension is building with MtGox’s customers. People are panicking because the mysterious sudden disappearance from the building could indicate a slide towards bankruptcy. The share price suddenly drops 45%, with the graph of the price doing an incredible 90 degree cliff-drop.  If a company is holding vast quantities of other people’s money and then suddenly disappears then this is bound to happen. It is true that they have given another address but this is a “virtual” office address and nobody knows whether they are really there or not.

15:35: A new protester wearing an iron mask has joined and is not happy. After a while be begins to shout at the building.P1030099.jpg

16:30: More shouting at the building by other protesters and another visitor. There is a sense of desperation at this point.

Please watch our live video feed at http://ustre.am/1aqKD  where Aaron is answering questions and giving updates

Wednesday 19th Feb 2014

Today was Cyber Wednesday! We brought out more tech gear and batteries and set up camp, with @Kf_Lenz bringing round some seats for us. Aaron suited up with his Google Glass and caught Mark Karpeles going in from his dark-windowed cab. He requested to talk but didn’t get very far.
We set up live video streaming! It proved very popular with around 80 viewers. We left the audio off but tomorrow we plan to turn the audio back on during certain periods. We will also set up some kind of chat system so people can interact with us more easily.
Aaron will be bringing in his mega-tripod for the webcam, this thing is a rather over-the-top beast which weighs more than Mark Karpeles’ cocoa. If you plugged in a Skynet AI module it could give Godzilla a run for his money.
Here is the streaming URL. We should be back online on Thursday around 11:20am Tokyo time.
This evening MtGox announced a change of address. It has been suggested that the new address is a virtual office, we will find out tomorrow if they are still at the orginal office.
Thanks to Yayoi for bringing the hot drinks!