Kraken Selected to Aid MtGox Liquidation and Investigation

Kraken has been selected to support the investigation of missing bitcoin and the distribution of remaining assets to the creditors. This decision comes after an extensive evaluation process where multiple companies were considered and thoroughly vetted.

Duties that Kraken may be asked to carry out include the following:

  • Aid in the investigation of possible lost or stolen Bitcoin.
  • Aid in the creation of a system to file and investigate claims.
  • Help to distribute Bitcoin and/or fiat assets to creditors.
  • Exchange Bitcoin to fiat currency when needed.
  • Provided the trustee decides to distribute bitcoin, creditors may be asked to create a Kraken account, if they do not already have one.

“The outcome of the MtGox bankruptcy proceedings will deeply affect the Bitcoin community as a whole,” said Kraken CEO Jesse Powell. “We’ve decided to volunteer our resources and expertise in an attempt to minimize damage to creditors, restore faith in the Bitcoin community, and demonstrate trusted leadership in the industry,” Powell said.

Updates will be accessible at https://www.kraken.com/mt-gox-updates as they become available.

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