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Mt. Gox

Karpeles WSJ interview

27 Jun, 2014

The WSJ interviews Karpeles at his home on the top floor of a 33-story building in Tokyo’s Meguro neighborhood. It is first media interview since a news conference when Mt. Gox filed for bankruptcy in February.

 All I can say is I am deeply sorry. But I did what I could, and I swear I haven’t been doing anything too luxurious.

On security:

We had some cases where a stranger sneaked in and took things away. We also have at least one former employee stealing the company’s data.

On what he had done wrong:

Management. I was too busy and couldn’t lay out an adequate corporate structure. I wish I had five of me, as I was too busy with meetings with banks, lawyers and business partners. That was all painful, I wish I had more time to do engineer-type of work. We tried [to hire experienced professionals] but we didn’t have money and also often they turned us down.

Asked when he found out the Bitcoins were gone:

I always worried about ‘What if all the bitcoins were gone?’ Since that actually happened, I have gone through many sleepless nights. Scared, frustrated and angry—-so many emotions were occupying my mind.

He wishes someone should buy the exchange and says that Bitcoin has the potential to change the world but is too easy to use for illegal activities.