As much buzz as the bitcoin world is getting, no one wants any negative press because of it, because it affects your reputation in the infant niche, forever.
This is an intimate knowledge for Mt. Gox CEO, Mark Karpelès.
The events involving his company probably launched the paranoia plaguing online investors about bitcoin scams and bitcoin hacks. Safety isn’t a guarantee online as we all know and these hacks are proof of such a reality.
The biggest bitcoin hack involved this top bitcoin exchange. Karpelès was in charge of Mt. Gox when they went bankrupt, for sinister reasons, in 2014.
That made him public enemy number one, in the crypto world.
So much so that he can’t find a job in the sector.
The calamity of Mt. Gox losing 850,000 bitcoins to hacking, was set to be the death of bitcoin, back in 2014.
200,000 Found after Bitcoin Hack
Later Karpelès discovered 200,000 bitcoins in a Mt. Gox wallet that was long forgotten. To prove he did not steal the bitcoins, he refused to take any of it. Even though by law, it would be his to have. But, that would set him up for lawsuits and death threats.
Not the way anyone would want to live their life even if it’s as a billionaire.
Still, he is undergoing criminal proceedings in Japan, though he served a year in prison for breach of trust, mismanagement of electronic data and embezzlement.
The plus for him is that authorities believe that hackers absconded with the other 650,000 bitcoins.
Karpelès made a statement that “I have no way to be sure that I’ll still be able to work in one year, two years. So I cannot really get a normal full-time job.”
A sobering statement from Mr. Karpelès.
Karpelès Got a Crypto Job
Regardless of his uncertain future, he accepted a position at London Trust Media.
The bold and daring offer came from a US company located in Denver, which has a massive virtual private network (VPN) service.
Karpelès is Chief Technology Officer (CTO) there.
It’s a guarantee that he will have a direct influence over the cryptocurrency investment decisions of the company. Already, the company focuses on and is strategically acquiring assets and investing in companies such as Purse and Zcash.
London Trust Media did not shy away from giving Karpelès a job, because they view him as a major asset, a limping on, but an asset regardless.
The Crypto Wars
Co-founder of the company, Andrew Lee, says, “Mark fought and fell. And although he fell, his skills, experience and know-how unarguably continue to exist, and so, bringing in a seasoned warrior makes perfect sense to me. I am more than willing to give a second chance to Mark in this fight’s critical hour.”
The fight he is referring to is the “crypto wars.”
Cryptocurrency is ruffling feathers as the new kid on the block. Especially with its unmonitored transactions that have lawmakers fearing that all kinds of criminal exchanges are occurring without their ever-watchful eyes.
The US government is fighting hard to put in place a plethora of regulations and oversight committees to be guardians over the 21st century new industry.
Attorney general of New York is one of the gunners in this battle.
Lee states that Karpelès is busy working on a number of projects because his experience and failure in the “crypto wars” is invaluable.
Karpelès, however, is in Japan and will stay in Japan for the duration of his trial and as he awaits the verdict.
London Trust Media and Karpelès share similar viewpoints, especially when it comes on to customer privacy. They had lots of opinions about Facebook’s handling of customer information and the issues they faced with the recent Cambridge Analytica scandal.
Karpelès is no longer a fan of cryptocurrency.
One can understand, with his recent legal woes still dictating his every move and overshadowing his career.
However, it is more about the general reason that there are too many areas of conflicts, referring to the issue between Bitcoin and Bitcoin Cash as one such case.
Karpelès refused to share much more on the topic. This he said was to keep him out of trouble and away from the cryptocurrency spotlight, in a good way.
He has had enough of the negative press.
Mt. Gox Bitcoin Hack
Though it has been over four years, Karpelès has learnt a lot since the days of the Mt. Gox bitcoin hack.
He prefers to keep a low profile and ride out the storm to its natural end. Certainly, for London Trust Media, he is giving them a list of what not to do, to ensure that any future bitcoin hacks are mitigated.
In a sense, his resurrection, of sorts, is good bitcoin news.
Karpelès provides invaluable expertise.
Hopefully, as the investigations of his case come to an end, the remaining 650,000 bitcoins are located and returned to spurned investors.