Mt. Gox Crash: Karpeles Pacifies Creditors Amid Fresh Bitcoin Payout Confusion
Bitcoin exchange Mt. Gox former CEO Mark Karpeles says “no clear answer” on creditors refund issue.
Mt. Gox Bitcoin exchange creditors face renewed speculation over the payout they should receive in future from funds recovered from the hacked exchange.
In a post on the creditors’ official Reddit community Saturday, former CEO Mark Karpeles personally addressed queries from a user demanding “clarity” about their entitlement.
Given the recent price increases, pressure is on Karpeles to confirm whether victims will receive payouts in BTC or fiat.
"Creditors already know that given only 202,000 of the 850,000 BTC stolen was recovered, creditors stand to only receive 20 to 25 percent of their 2013 investments."
“Please say it now, if I can consider to hold the 20 to 25 percent of the MtGox BTC, or if I can only assume that I only hold the Fiat claim,” user u/noeeel wrote.
“[...] Please just make this crystal clear what we can expect. And please do it now, as the BTC price moves fast.”
Karpeles responded that while there was “no clear answer,” decisions would be for creditors, not him or original Gox founder Jed McCaleb to decide.
“In the end, I will have to contact all creditors to get approval for anything and the creditors will be the one to decide. There are various ways to make things as transparent as possible.”
So it is not up to me as a shareholder, but up to creditors, mostly. If we can get a 95 percent plus positive response rate I'm somewhat confident things would go through, but until then, I have no idea.”
In February, several hedge funds began offering to buy up creditors’ outstanding funds for cash but only at a fraction of the possible amount they could expect from waiting.