Image default

Mt Gox Founder becomes CTO of VPN and Cryptocurrency Investment Company


The infamous Mark Karpeles, former CEO of the hacked bitcoin exchange Mt Gox has landed a new job as the CTO of a Denver-based firm called London Trust Media (LTM). LTM is the world’s largest paid virtual private network (VPN) service and an early investor in Zcash. Karpeles will be responsible for the firm’s cryptocurrency ventures and other products.

London Trust Media was an early investor in Zcash, a private-focused digital coin and, a start -up that allows people to buy Amazon items using bitcoin. LTM is also increasingly investing in cryptocurrency lately. Despite Karpeles murky past, his new employer was more than happy to announce his new hire. Andrew Lee, cofounder, chairman and chief of lab division at London Trust Media says, “Mark fought and fell. And although he fell, his skills, experience and know-how unarguably continue to exist. And so, bringing in a seasoned warrior makes perfect sense to me. I am more than willing to give a second chance to Mark in this fight’s critical hour.”

Mark is still on trial for the charges of embezzlement and data manipulation and hence, will be working remotely from Japan. If he is found guilty of the charges, he will be faced with 5 years of prison or a fine of up to $4,000. The collapse of Mt Gox was a major setback for bitcoin and the people affected by its failure are still trying to get back their funds. These people hope the trial will better explain what happened.

Karpeles has been juggling several IT consulting before joining LTM. According to Karpeles, what led him to this decision was LTM’s commitment towards protecting customer privacy through VPN services. Amidst the shocking news of Facebook sharing user data with Cambridge Analytica, Karpeles says “Advertising-driven overreach on people’s privacy has been a matter I’ve been worried about for some time.” Although Karpeles has accepted a job at a firm that dabbles in cryptocurrency he says he wants very little to do with the cryptocurrency industry.


Related posts

In a dramatic action Security agents posing as crypto traders held a major crackdown

CP Team

Regulated USD Backed Stablecoin Pax to be Launched by Ontology on its Blockchain

Moeen Khan

Bittrex Calls Off Its First ‘Initial Exchange Offering’

Moeen Khan

Leave a Comment