On a WSJ post Mt. Gox head believes no more Bitcoins will be found. CCI investigates alleged suspicion that sums of Bitcoins are being held by acquaintances of Mt. Gox management.
Read the full article here.
Bitcoin company CoinLab Inc. has thrown its support behind Japanese bitcoin exchange Mt. Gox’s U.S. bankruptcy case, a change of course for CoinLab, which has sued Mt. Gox for $75 million. Full article.
CCI has tracked unusual financial behaviour among Mt. Gox related parties. These financial activities include buying properties, opening bank accounts, transferring money in large volumes.
A comprehensive analysis of Mt. Gox trade logs sheds light on past price changes of bitcoin. The report can be found here.
An announcement of commencement of bankruptcy proceedings has been published on Mt. Gox’s website by the bankruptcy trustee.
CCI has started tracking individuals’ social networks connecting Mt. Gox employees, managers, and interested parties with various bank employees. A close study shows the unexplained level of connections, between Mt. gox related parties, and several bank employees.
CCI succeeded in following some of the bank transfers made two weeks prior to Mt. Gox collapse. CCI suspects that some of the transfers made by Mt. Gox clients have been deliberately delayed by banking elements, but allegedly were in direct contact with Mt. Gox employees. Up to this point, no proof was given by either of the banks, to support their claims that the money arrived in Mt. Gox clients accounts.
Recently, CCI started negotiations on behalf of a group of Mt. gox customers, with a German bank and a Swiss bank, regarding the whereabouts of clients’ wire transfers. Up to this point the banks were not able to prove the funds whereabouts.
CCI checks if funds that belong to Mt.Gox customers were transferred from Mt.Gox accounts to certain Lithuanian bank after Mt.Gox’ collapse.
CCI discovered connection between key personnel of Polish and Japanease banks which allegedly participated in an unorthodox transfer of information regarding Mt. Gox.
CCI investigates if specific Swiss banks were in contact with the Polish bank prior to Mr. Gox collapse. In similar vein the investigation concentrates on the issue of the diligent work of compliance departments of these banks regarding Mt.Gox stability.
CCI suspects that crucial information that was collected by the Swiss banks, was not given to the Swiss bank clients, as such information could have influenced the clients decisions regarding money transfers to their Mt. Gox accounts. CCI attorneys check the Swiss banks’ loyalty liabilities regarding their customers.
CCI is investigating Mt. Gox customer complaints regarding bank transfers that were executed months prior to Mt. Gox collapse. Тhese customer complaints include that they haven’t bought any Bitcoins with the transferred money and thus those specific funds should have been at the Mt. Gox Polish bank. When the customers confronted Mt. Gox Polish bank it refuses to provide any information regarding the money’s whereabouts.
TOKYO (AP) — The Mt. Gox bitcoin exchange in Tokyo is headed for liquidation after a court rejected its bankruptcy protection application. See full article here.
CCI checks alleged allegation, was EU regulation regarding transparency violated by Mt. Gox bankers?
CCI examines structure and behaviour of Mt. Gox’s Polish bankers towards Mt. Gox’s clients. Especially regarding client education by Mt. Gox Polish bank. In most of the cases the Polish bank refuses to give any kind of information. CCI checks its motives.
CCI started checking leads regarding insurance functioning within Mt. Gox and related parties.
Complaints were made by a group of Bulgarian Bitcoin investors, regarding information received from their banks when trying to transfer money to their Mt. Gox accounts. CCI examination shows similarity between Polish and Bulgarian banks.
It seems that Mt. Gox was managed under a structure that separated employees and holdings in several companies, in which Mt. Gox was the coordinator. CCI experienced a severe lack of information, although such information should have been accessible to the public by law.
From data collected by CCI, the following anomalies raised:
- Around 20% of money transfers which allegedly fail to arrive to their Mt. Gox account originated from Swiss banks.
- The majority of these clients are not from Swiss origin.
Did several European banks know about Mt. Gox liquidity problems previous to its bankruptcy? CCI study regarding European bank policies raises questions regarding repeated patterns of information manipulation.
Alleged accusations were made by Vircurex clients regarding money transferred to their account. CCI checks correlation between the previous mode of operation regarding Mt. Gox’s clients money transfers.
The covert phase of the investigation is done, CCI now opens the investigation to the public for inquiries, public input and insight.