Former Mt.Gox CEO Mark Karpeles does not want to benefit from the exchange’s billions

Karpeles not interested in Mt.Gox billions

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Mark Karpeles who is the former CEO of Mt.Gox which was once Bitcoin largest exchange has come out again apologizing for his role in the company collapsed in 2014 becoming bankrupt after a ruthless hack. Karpeles communicated through a Reddit post today after issuing a letter to the exchange users many who are still righting the exchange to regain their lost funds in the hack.

In the letter, the former CEO denied claims that he was likely to benefit from the judgment expected from the Japanese courts. This is after reports from the Wall Street Journal emerged that Mark Karpeles was standing a chance of receiving millions of the leftovers after all the exchange users were reimbursed because all creditors would receive the value of their lost coins in the Japanese yen and not in Bitcoin and they would wish.

Karpeles has, however, come out to clarify that the exchange was expecting to receive more than 160,000 Bitcoin and Bitcoin cash. According to him the value of the coins would be around $1 billion if sold at the current market price. The former CEO went ahead to state that:

“I don’t want to benefit in any of these. I am not expecting any billion dollars. From the first day, I did not expect to get anything from this bankruptcy. Even though today this is a possibility is an aberration, and it’s my responsibility to ensure that it does not happen.”

Mark Karpeles further stated that it was his wish to support a civil rehabilitation plan which would see the exchange advocate for creditors to be refunded in Bitcoin. He said that would write a proposal about the same in a past blog about the same issue. He concluded by stating that:

“I never thought things would move this direction and I am forever sorry for all that has taken place and all the effect it had all everyone involved.”

Even though his posts did not state his plans it’s believed that the former CEO plans to sell Mt.Gox assets as one of the ways to refund investors. At the start of March, it was noted that $400 million in digital currencies has already been sold by the exchanges bankruptcy trustee called Nobuaki Kobayashi. The sale, however, turned controversial with many people in the cryptocurrency industry accusing the estate of causing the drop in Bitcoin prices towards the end of December 2017.

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