Former Mt. Gox CEO Proposes a Hard Fork of Bitcoin to Recover $5.2 Billion in Stolen Assets
Svmuu News: Mark Karpelès, former CEO of the now-defunct Mt. Gox exchange, recently proposed a hard fork plan for Bitcoin. He suggests modifying the consensus rules to recover approximately 79,956 BTC stolen during the 2011 hacking incident, which is worth about $5.2 billion at current prices.The proposal targets a wallet address linked to the 2011 Mt. Gox breach, which received nearly 80,000 Bitcoin following the hack and has remained untouched for over 15 years. Under Bitcoin’s current rules, these funds can only be transferred if the corresponding private key is held.Under the proposal, the new rules would allow the unspent outputs in the address to be controlled by obtaining a signature from the recovered Mt. Gox address, thereby incorporating the funds into the existing judicially supervised compensation process to repay Mt. Gox creditors.Karpelès stated that this proposal serves only as a starting point for discussion, with the proposed rule change limited to a single address and scheduled to activate at a specific block height in the future. However, the proposal also acknowledges that this plan requires a coordinated network-wide upgrade; if some community members refuse to support it, there is a risk of a blockchain split.It is important to note that these approximately 80,000 BTC are not currently part of the assets allocated to Mt. Gox creditors, nor are they under the control of the bankruptcy trustee.
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Source:Odaily · Source Link
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