MtGox being investigated in Japan and receives US subpoena

MtGox being investigated in Japan and received US subpoena

MtGox being investigated in Japan and received US subpoena


CEO of MtGox, Mark Karpeles issued a short statement on Wednesday to reassure the public that he is still in Japan and has not absconded with millions of dollars of users’ Bitcoins. On the main page of what is remaining of the once biggest Bitcoin exchange website, here is what Karpeles has to say:

February 26th 2014

Dear MtGox Customers,

As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

Sincerely, Mark Karpeles


At the meantime, MtGox has attracted the attention of law maker in Japan and U.S. According to Wall Street Journal, citing sources familiar with the matter, MtGox has been hit with a federal subpoena by prosecutors in Southern District of New York. The district court mostly deals with financial crimes and related misfeasance.


The Japanese authorities are also looking into the sudden closure of MtGox. “At this stage, the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case,” Chief Cabinet Secretary Yoshihide Suga told reporters in a news conference. At present, Bitcoin is not defined as a currency in Japan and cannot be regulated. Japan’s Financial Services Agency and the Ministry of Finance states that they do not have jurisdication over MtGox.


“The authorities’ stance that they don’t have responsibility is disgraceful,” said Okubo, a former vice finance minister. “We need to establish a legal system.”

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