MtGox Releases NFT for Former Customers

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Mark Karpeles, former CEO of defunct crypto exchange MtGox, announced the Polygon-based NFT airdrop today on Twitter. According to Karpeles “The NFT is airdropped for free, and available no matter if you had a balance or filed a claim with the bankruptcy.”

Mark Karpeles in 2019

The website also came with a Whitepaper and FAQ. According to the Whitepaper, “After a large number of Bitcoins were stolen in July 2010, MtGox entered bankruptcy in Japan on February 28th, 2014. . . MtGox was the first bankrupt company in the Japanese legal system to have more assets than liabilities in the amount MtGox had, but this isn’t the only reason the company is remembered for its part in the Bitcoin revolution.”

MtGox is typically remembered as the largest exchange hack ever in BTC terms. Over 850,000 BTC was lost in the hack, valued at around $500 million at the time. In dollars terms today there have been larger hacks, but back in 2013 when this happened that was massive, especially for a market still in its infancy.

200,000 BTC of the 850,000 BTC where miraculously “found,” this is what is now going through civil rehabilitation in Japan, and because the price of Bitcoin has increased by over 4000%, everyone that had their Bitcoins trapped on MtGox is now up by a lot more than their initial dollar investment.

The Whitepaper states the ERC-721 compliant NFT will have a number of “features intended to cover specific use cases.” Each NFT will correspond to your MtGox account number. For example, founder Jed McCaleb’s account number is number 1 because he was the first account. There are a total of 1066097 unique accounts which are eligible for their NFT airdrop.

The “Use Cases” are listed as being an “OG Certificate,” giving access to members only areas, airdrops, DAO governance, and “more?”

To make a claim for your NFT all you have to do is simply enter in the email you used on MtGox and copy the verification email into the website.

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