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About EllipX
EllipX is a mobile crypto wallet based on Multi-Party Computation (MPC) and threshold signature schemes, founded by Mark Karpelès, former CEO of Mt.Gox, and headquartered in Poland. The wallet splits the private key into multiple shares held by the user's device, EllipX's servers, and other parties, eliminating the need for seed phrases. This addresses the market pain point of private key loss or theft due to mismanaged recovery phrases. EllipX supports ETH initially, with plans for BTC, BCH, and ERC-20 tokens. As of the recent six months (March–September 2026), no major updates or incidents have been publicly reported; the project appears to be in a steady operational phase. No significant negative events have been documented in the past two years, though the project's reliance on a centralized service component (EllipX holding a key share) may raise decentralization concerns for some users.
Core progress in the past six months is limited, but one key change stands out: on 2026-03-28, the official code repository moved from EllipX to KarpelesLab (). The module path switched from github.com/EllipX/libwallet to github.com/KarpelesLab/libwallet, the ellipxobj dependency was replaced by a local wltobj package, license and docs were updated to Karpeles Lab Inc, and the app.ellipx.com host override was removed. This indicates wallet development and maintenance have transferred to Karpeles Lab rather than being shut down.
Officially disclosed future direction still centers on its MPC/threshold-signature wallet positioning. Earlier plans include continuing ETH support and expanding to BTC, BCH and other assets, with private keys protected by device hardware, biometrics and wallet authentication (). The security page stresses MPC distributed keys to eliminate single points of failure (). Future focus is expected to continue the compliant and transparent route while advancing the wallet base layer and asset support under Karpeles Lab.
Mark Karpelès (Co-founder & CTO)
Twitter: https://x.com/magicaltux
Former CEO of Mt. Gox, the largest Bitcoin exchange until its 2014 hack. He is leading EllipX's technical development, focusing on MPC-based wallet security and transparency. No other co-founders or core executives have been publicly confirmed.