Federal judge freezes Mt. Gox CEO’s assets

Will hold funds for two weeks to allow for investigation into potential fraud

Mt. Gox, a prominent crypto-currency exchange that declared bankruptcy late last month has taken its share of lumps following a security event that claimed up to 7 percent of the global bitcoin supply from its secure servers. And the hits keep on rolling.

On March 12, shortly after the company filed for bankruptcy protection in the United States and Japan, a Federal Judge based in Chicago froze the U.S. assets of Mt. Gox CEO Mark Karpeles in reaction to multiple customer lawsuits brought against the exchange. The freeze will allow time for investigations associated with those suits.

Executive Editor

author image

Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.