Former Mt. Gox CEO Announces New Cryptocurrency Exchange "EllipX" with Airdrop Plans

Mark Karpeles, once at the helm of Mt. Gox, one of the most infamous cryptocurrency exchanges, is back with a new venture—EllipX.

Positioned as a secure and transparent trading platform, EllipX is set to launch soon with advanced security features and a seamless user experience.

In addition, former Mt. Gox customers will be eligible for an exciting MtGoxNFT airdrop, offering exclusive trading benefits.

Mt. Gox’s Former CEO Announces New Cryptocurrency Exchange

On August 31, 2024, Mark Karpeles, the former CEO of Mt. Gox, announced the establishment of a new cryptocurrency exchange called "EllipX," emphasizing security and transparency.

Although the exchange has not yet officially launched, users can currently register on a waitlist. According to several media reports, there is a possibility that the exchange could be launched in Europe by mid-September 2024.

In his lengthy post on August 31, Karpeles expressed that while there is still much work to be done to make cryptocurrency a safe and user-friendly asset for everyone, he believes that "now is the time to act," especially since the repayments for Mt. Gox creditors have finally begun.

What is EllipX Cryptocurrency Exchange?

EllipX, founded in April 2024 in Poland, is a cryptocurrency trading platform. According to its official website, it offers a fast and secure way to trade Bitcoin, Ethereum, and other digital assets.

The platform’s mission is to "promote the adoption of cryptocurrency by providing digital asset trading services and investment solutions."

The exchange aims to offer a high-speed and secure trading experience with advanced features designed for professional users. Given the notorious history of Mt. Gox, security is a major concern for potential users.

However, EllipX claims to implement the highest standards of security. User assets are reportedly managed offline through a "multi-signature wallet," requiring multiple signatures to execute transactions.

Moreover, transferring assets will require a master key along with the activation of six Hardware Security Modules (HSMs), adding an extra layer of protection.

MtGoxNFT Airdrop and Other Features

Karpeles also announced that all customers who used Mt. Gox between 2010 and 2014 will be entitled to receive an airdrop of "MtGoxNFT."

Those who hold this NFT will benefit from special trading fee discounts on the EllipX exchange. Further details regarding this offer are expected to be announced soon.

Additionally, the previously announced project "Ungox" will be launched as an independent nonprofit organization. Its goal is to help users better understand the risks and differences between various cryptocurrency exchanges and projects.

Another key feature is the "EllipX Wallet," a decentralized wallet leveraging multi-party computation (MPC) technology.

The wallet is said to be as easy to set up as a banking app, eliminating the need to store private keys on paper and enabling users to maintain control of their cryptocurrency.

While specific details about EllipX are still under wraps, the official website, blog, and X (formerly Twitter) account have been launched, drawing attention to future announcements.