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Mark Karpelès

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Mark Karpelès
Born
Mark Marie Robert Karpelès

(1985-06-01) 1 June 1985 (age 39)
Chenôve, France
OccupationEntrepreneur
Known forFormer CEO of Mt. Gox

Mark Marie Robert Karpelès[1][2] (born June 1, 1985) is a French entrepreneur and former CEO of the bitcoin exchange Mt. Gox.[3][4] Under his leadership, Mt. Gox became one of the largest bitcoin exchanges globally, handling over 70% of all bitcoin transactions at its peak before filing for bankruptcy in 2014.[5][6][7]

Early life and education

Karpelès was born in Chenôve, France, and is the son of geologist Anne-Robert Karpelès.[8] Raised in Dijon,[8][9] France, he attended Collège Prieuré de Binson in Châtillon-sur-Marne from 1995 to 2000.[10] He continued his education at Lycée Claude Bernard and completed his studies at Lycée Louis Armand in Paris in 2003.[10]

Career

Tibanne Co. Ltd.

In 2009, Karpelès moved to Japan, where he founded Tibanne Co. Ltd., a Tokyo-based technology firm specializing in IT services and bitcoin-related technology.[11] Through Tibanne, Karpelès developed software to support the growing bitcoin ecosystem.[12]

Bitcoin Foundation

In 2012, Karpelès became one of the founding members of the Bitcoin Foundation, an organization created to promote and standardize bitcoin.[13] He served on its board until February 2014.[14]

Mt. Gox

In 2011, Karpelès acquired the bitcoin exchange Mt. Gox from programmer Jed McCaleb.[15][16] Under his leadership, Mt. Gox rapidly expanded, handling over 70% of all global bitcoin transactions by early 2014.[17][18] However, the exchange faced significant operational and security challenges.[19] In February 2014, Mt. Gox announced that approximately 850,000 BTC had been lost due to a hacking incident.[1][20]

On February 28, 2014, Mt. Gox filed for bankruptcy in Japan, followed by Chapter 15 bankruptcy protection in Texas, U.S.[21] The collapse of Mt. Gox became a pivotal event in the history of bitcoin, highlighting the risks associated with cryptocurrency exchanges and their security vulnerabilities.[22]

Post-Mt. Gox Ventures

In 2018, Karpelès joined London Trust Media, the company behind Freenode and Private Internet Access, as its Chief Technology Officer (CTO).[23][24]

In 2023, Karpelès was appointed as the Minister of Technology for Joseon, a blockchain-based state that operates its own currency, the Mun.[24]

In 2024, Karpelès announced the launch of EllipX, a new cryptocurrency exchange based in Poland, where he serves as CTO. EllipX aims to provide enhanced security features and a more transparent environment for cryptocurrency traders.[25][26]

Following the bankruptcy of Mt. Gox, Karpelès faced legal scrutiny.[27] In August 2015, he was arrested by Japanese authorities on charges of data manipulation and embezzlement.[28] Tokyo prosecutors accused him of inflating Mt. Gox's holdings by $33.5 million.[29] After a lengthy trial, Karpelès was acquitted of the more serious charges, including embezzlement and breach of trust.[29] However, in March 2019, the Tokyo District Court found him guilty of data manipulation.[30] He was sentenced to 30 months in prison, suspended for four years, meaning he would not serve jail time unless he committed additional offenses during that period.[30]

In April 2014, Karpelès was subpoenaed by the United States Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) to appear in Washington, D.C. for testimony on 18 April 2014. Mt. Gox lawyers filed a response stating that Karpelès did not have legal representation for this matter and therefore declined to appear on the initial date.[31][32] They requested a new date for his testimony, which was set for 5 May 2014.[33][34]

During the 2015 trial of Ross William Ulbricht for operating the Silk Road marketplace, his defense argued that Karpelès, rather than Ulbricht, was the individual behind the pseudonym "Dread Pirate Roberts".[35] Homeland Security Investigations agent Jared Der-Yeghiayan had also suspected Karpelès during the 2012–2013 investigation, though no evidence supported this theory.[36] Karpelès denied any involvement on Twitter,[37] and Ulbricht was ultimately convicted.[38]

In 2010, at the age of 25, Karpelès was found guilty of fraud during a trial in absentia in France related to his actions on a private server, and he received a suspended sentence of one year in jail.[39][40]

References

  1. ^ a b "Declaration of Robert Marie Mark Karpeles" (PDF). US Bankruptcy Court for the Northern District of Texas Dallas Division. p. 1. Retrieved 13 March 2014. The document, signed by "Robert Marie Mark Karpeles", was published by Ars Technica on the Scribd website, and according to Ars Technica is a court document filed in US Bankruptcy Court.
  2. ^ Farivar, Cyrus (10 March 2014). "MtGox files for US bankruptcy protection to put lawsuits on hold". Ars Technica. Retrieved 22 October 2024.
  3. ^ KARPELÈS, Prénom Nom : Mark Robert; Vit à : TOKYO, Japon; ans), Né le : 1 juin 1985 (39; d'entreprise, Profession : Chef. "Mark Robert KARPELÈS". Copains d'avant (in French). Retrieved 22 October 2024.{{cite web}}: CS1 maint: numeric names: authors list (link)
  4. ^ King, Leo. "Mt. Gox CEO Mark Karpeles: 'I Am Still In Japan'". Forbes. Retrieved 22 October 2024.
  5. ^ "Bitcoin rebounds to $57,000 after billions in Mt. Gox refunds fueled a selloff". Quartz. 8 July 2024. Retrieved 11 July 2024.
  6. ^ "Germans, Mt. Gox, or Feds: Who Caused the Bitcoin Dip?". Financial and Business News | Finance Magnates. 8 July 2024. Retrieved 11 July 2024.
  7. ^ Zielinski, Radek (8 July 2024). "Mt. Gox to repay investors in Bitcoin". ReadWrite. Retrieved 11 July 2024.
  8. ^ a b Gautronneau, Vincent (3 January 2014). "Le génie côte-d'orien qui fait trembler le net". Le Journal de Saône et Loire (in French).
  9. ^ Mick, Jason (5 March 2014). "Bitcoin King: Mt. Gox CEO Mark Karpelès' History of Arrests, Firings". DailyTech. Archived from the original on 9 March 2014. Retrieved 9 March 2014.
  10. ^ a b "Mark Robert KARPELÈS, 28 ans (TOKYO, CHATILLON SUR MARNE, PARIS)". Copains d'avant – L'Internaute (in French). CCM Benchmark Group. Retrieved 27 February 2014.
  11. ^ "US judge freezes assets of Mt.Gox bitcoin exchange boss". CNBC. 12 March 2014.
  12. ^ David Meyer (31 May 2013). "A Bitcoin Exchange Goes for Respectability". Businessweek.com. Archived from the original on 7 June 2013. Retrieved 24 February 2015.
  13. ^ "Mt. Gox resigns from Bitcoin Foundation". Reuters. 23 February 2014. Retrieved 25 February 2014.
  14. ^ "Mt. Gox quits Bitcoin Foundation board". PCWorld. 24 February 2014. Retrieved 24 February 2015.
  15. ^ Rachel Abrams Matthew Goldstein and Hiroko Tabuchi (28 February 2014). "Erosion of Faith Was Death Knell for Mt. Gox". The New York Times. Retrieved 24 February 2015.
  16. ^ Jeffries, Adrianne (1 April 2013). "Barons of Bitcoin". The Verge. Retrieved 13 March 2014.
  17. ^ "Mt Gox: The brief reign of bitcoin's top exchange".
  18. ^ "Apparent Theft at Mt. Gox Shakes Bitcoin World".
  19. ^ McMillan, Robert. "The Inside Story of Mt. Gox, Bitcoin's $460 Million Disaster". Wired. ISSN 1059-1028. Retrieved 8 September 2024.
  20. ^ "Bitcoin Exchange Mt. Gox Files for U.S. Bankruptcy as Death Spiral Continues". WIRED. Retrieved 24 February 2015.
  21. ^ McMillan, Robert. "The Inside Story of Mt. Gox, Bitcoin's $460 Million Disaster". Wired. ISSN 1059-1028. Retrieved 11 July 2024.
  22. ^ "The unsinkable Mark Karpeles is willing to give Tokyo another shot".
  23. ^ Goldman, Joshua (23 April 2018). "Former Mt. Gox bitcoin exchange CEO Karpeles lands new job". CNET. Retrieved 29 April 2018.
  24. ^ a b Tomlin, Bennett (19 December 2023). "Duke Roger Ver becomes finance minister for Joseon". Protos. Retrieved 11 July 2024.
  25. ^ "Former Mt. Gox CEO to launch EllipX crypto exchange in Europe".
  26. ^ "Former Mt. Gox CEO Mark Karpeles to Launch New Crypto Exchange This Month". Blockhead. 4 September 2024. Retrieved 8 September 2024.
  27. ^ "MtGox bitcoin chief Mark Karpeles arrested in Japan". BBC News. 1 August 2015. Retrieved 1 August 2015.
  28. ^ Jonathan Soble (1 August 2015). "Mark Karpeles, Chief of Bankrupt Bitcoin Exchange, Is Arrested in Tokyo". The New York Times. Retrieved 1 August 2015.
  29. ^ a b "Former Mt. Gox CEO Mark Karpeles Gets Suspended Jail Term". Bloomberg.com. 15 March 2019. Retrieved 11 July 2024.
  30. ^ a b Dooley, Ben (15 March 2019). "Bitcoin Tycoon Who Oversaw Mt. Gox Implosion Gets Suspended Sentence". The New York Times. ISSN 0362-4331. Retrieved 11 July 2024.
  31. ^ "Mt. Gox founder won't appear in U.S. for questions about bankruptcy case". Reuters. 15 April 2014. Retrieved 24 February 2015.
  32. ^ "Mt. Gox founder won't attend US bankruptcy hearing". CNET. CBS Interactive. Retrieved 24 February 2015.
  33. ^ John Ribeiro (15 April 2014). "Mt. Gox seeks postponement of CEO's U.S. court deposition". Computerworld. Retrieved 24 February 2015.
  34. ^ "BBC News - MtGox chief refuses to go to Bitcoin bankruptcy hearing". BBC News. 15 April 2014. Retrieved 24 February 2015.
  35. ^ Paul, Kari (15 January 2015). "Defense in Silk Road Trial Says Mt. Gox CEO Was the Real Dread Pirate Roberts". Vice. Retrieved 31 May 2019.
  36. ^ Jeong, Sarah. "Was Mt. Gox CEO The Dread Pirate Roberts? The DHS Once Believed It". Forbes. Retrieved 10 September 2024.
  37. ^ "Mark Karpeles on Twitter: "This is probably going to be disappointing for you, but I am not and have never been Dread Pirate Roberts."". 15 January 2015. Retrieved 28 January 2015.
  38. ^ Mullin, Joe (4 February 2015). "Ulbricht guilty in Silk Road online drug-trafficking trial". Ars Technica. Retrieved 4 February 2015.
  39. ^ Farivar, Cyrus (1 August 2014). "Why the head of Mt. Gox Bitcoin exchange should be in jail". Ars Technica. Retrieved 1 August 2014.
  40. ^ Alonso, Pierre (1 August 2014). "En France, le passé trouble de l'ancien " baron du bitcoin "" [Old bitcoin baron's old trouble in France]. Le Monde (in French). Retrieved 1 August 2014.
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