Mark Karpelès, former CEO of the defunct Mt. Gox exchange, has proposed a Bitcoin hard fork to recover 79,956 BTC stolen in a 2011 hack, valued at $5.2 billion today. The proposal targets a wallet linked to the hack, which has held the bitcoins untouched for over 15 years. Karpelès suggests altering Bitcoin's rules to allow these funds to be moved without the private key, integrating them into the court-supervised process to repay Mt. Gox creditors.
The proposal, intended as a discussion starter, would modify rules for a single address and activate at a future block height. However, it requires a coordinated network upgrade, and lack of consensus could risk blockchain fragmentation. The 80,000 BTC are not currently part of the assets available for distribution to creditors or under the bankruptcy trustee's control.
Mt. Gox Ex-CEO Proposes Bitcoin Hard Fork to Recover $5.2 Billion
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
