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Kraken Selected to aid MtGox Liquidation and Investigation


Note: The following is from our press release. We will post further information here when further information becomes available. 

Kraken, a San Francisco-based bitcoin exchange, is pleased to announce that it 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. Kraken was chosen for reasons including its proven track record of stable exchange operation and reliable customer support, and possesses the skill and expertise required to properly carry out an investigation of the lost bitcoin and the distribution of assets to creditors.

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

  1. Aid in the investigation of possible lost or stolen Bitcoin

  2. Aid in the creation of a system to file and investigate claims

  3. Help to distribute Bitcoin and/or fiat assets to creditors

  4. 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, to establish a secure, efficient and cost-effective platform for the distribution of bitcoin.

Claimants wishing to open a Kraken account and possibly avoid any delays caused by the large increase in new sign-ups and/or verifications are encouraged to sign up now at https://www.kraken.com/signup.

“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.

Note: We will post further information here (or link to a new blog post) when further information becomes available. 

Image: Jon Southurst/CoinDesk