Mt. Gox Head Apologizes to Customers

In his first in-depth interview since the Mt. Gox collapse, Mark Karpeles, the head of the controversial exchange has said he is sorry that customers lost their money.

Mt. Gox
Photo: AP / BBC News

Mt. Gox once held roughly 80 percent of all bitcoins, until hundreds of thousands of them vanished in what the company claimed was a cyber-attack. The company subsequently filed for bankruptcy in February in Japan and on June 18, a court in Texas approved their application for bankruptcy protection on their US assets

They are now looking for someone to take over the exchange while Karpeles is auctioning off domain names to raise funds.

“As the company head, my mission was to protect customers and employees. I’m deeply sorry. I’m frustrated with myself,” Karpeles told the Wall Street Journal (paywall).

He says that the exchange’s lack of real management led to its downfall. “The weakest point of my company was management. I failed to lay out appropriate corporate structures,” he explained.

At one point, Mt. Gox found a number of bitcoins in an old digital wallet after the supposed cyber-attack took place. This raised a few eyebrows and questions over the legitimacy of their hacking claims. However, in this latest interview, Karpeles says he doesn’t believe any more bitcoins will be found.

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