More $2.1 million seized from Mt. Gox accounts

Last updated on January 2nd, 2018 at 12:00 am

We just recently had access to the executed seizure warrant for Mt. Gox’s account with Dwolla, which had $2.9 million seized by the United States authorities. However, The Genesis Block obtained a new document from the records of the District Court of Maryland relative to another seizure: this time, it was the exchange’s Wells Fargo accounts with a total of $2.1 million.

Add one thing to another and you’ll see that Mt. Gox has lost more than $5 million thanks to the actions of the US government. Both warrants state similar arguments: the platform’s CEO, Mark Karpeles, failed to properly register and indicate on Mutum Sigillum LLC’s (a subsidiary of the Japan-based company in the United States) account application that the company would be acting as a money service business.

Although one of the accounts at Wells Fargo was registered in Mutum Sigillum LLC’s name, there was a second Wells Fargo account seized that was in the name of Mark Karpeles. The documents also report that “bank records also show a transfer of $50,0000 in January 2012 (…) to the personal account at Wells Fargo in the name of Mark Karpeles“.

This new executed seizure warrant was filed on June 19, just one day before Mt. Gox suspended US dollar withdrawals, which indicates the two events are probably related.


Comments are closed.