Former Mt. Gox CEO Mark Karpelès will launch a new crypto exchange, EllipX, later this month in Poland.
Karpelès reportedly revealed this during the Korea Blockchain Week event in Seoul on September 4, 2024.
He expressed his desire to “make right what went wrong” with Mt. Gox, the Bitcoin exchange that collapsed in 2014 after a major hack. According to him, compared to the situation at the hack, Bitcoin now has better security options.
EllipX would comply with the EU’s Markets in Crypto-Assets (MiCA) regulations and ensure transparency through regular third-party audits, according to Karpelès. Initially, the platform will cater to European users with plans for global expansion. Although it will start as a crypto-only platform, He noted there are plans to add banking and fiat currency services.
Karpelès also reportedly stated that the crypto community’s attitude towards him has softened, considering the multiple facing death threats following the Mt. Gox hack. He expressed surprise at being invited to speak at Bitcoin conferences again after a few years.
Karpelès had earlier revealed that EllipX would offer special discounts on trading fees for Mt. Gox NFT holders as part of plans to rebuild trust with former users.
In an announcement on his X page on August 30, 2024, he stated customers who used Mt. Gox from 2010 to 2014 would receive special discounts on trading fees, “at least 50% off,” on EllipX.
RELATED: Former Mt. Gox CEO Offers Reassurances As $7B Bitcoin Transfer Ruffles Feathers
Meanwhile, Mt. Gox’s trustee, Nobuaki Kobayashi, began repaying some of its approved creditors on July 5, 2024, distributing BTC and Bitcoin Cash through specific exchanges. More than $9.9 billion worth of Bitcoin and other cryptocurrencies is expected to be distributed to the affected parties as part of the repayment process. According to MtGoxBalanceBot, over 96787 BTC has been transferred from wallet addresses linked to the Mt. Gox Trustee since this announcement.
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