Former Mt. Gox CEO, Mark Karpeles revealed at the Foreign Correspondent Club of Japan that he is embarking on another journey into the blockchain technology business despite the previous legal issues had in the cryptocurrency industry.
In 2015, Karpeles got arrested after the collapse of the infamous crypto exchange Mt. Gox, where he spent about 11 months in detention. Although he got cleared of fraud and embezzlement allegations in March, he currently appeals as a convict with charges of manipulating electronic data.
The 34-year-old computer prodigy, however, has registered a new company in Japan intending to develop a new OS that is faster and more secure than existing operating systems.
Karpeles, who moved to the East Asian country in 2009, admitted his goal is to help Japan emerge as a “global leader in blockchain” and regain its stance in technology at large, which it lost to the American companies like Amazon, Facebook, and Apple, over the years.
“My love for Japan has not changed,” Karpeles said, adding that “Japan used to be engineering superpower in terms of its PCs but right now, taking the cloud, for example, it’s the U.S. that dominates. But I still believe in potential Japan has, and I would like to develop that.”
However, his attempt to achieve his goals with Mt Gox failed after the exchange lost about 744,000 BTC to hackers in 2014 and the company was declared bankrupt.
Many investors lost their funds. Although Mt Gox creditors are in the process of recovering their money, some prosecutors filed a lawsuit against Karpeles for embezzlement of users funds. They demanded a ten years jail sentence for the CEO, but the court did not find him guilty for the allegations except for manipulating electronic data.
While Karpeles continuously look forward to recovering the missing bitcoins, he strategically plans to apply formidable technical skills to operate as the Chief Technology Officer of his new company, dubbed Tokyo-based Tristan Technologies Co.
Mark Karpeles said he was going to start over “from zero,” acknowledging his society as one that intends to shun people who in any way have noted run-ins with the law.