Police arrest boss of failed Mt. Gox Bitcoin exchange
help arial, clinic sans-serif;”>By David Nield
sickness arial,sans-serif;”>Japanese police have finally caught up with Mark Karpeles, CEO of the Mt. Gox Bitcoin exchange that went bust early last year — taking some $387 million in user currency with it. Karpeles is charged with accessing the exchange’s computer system in order to manipulate the exchange figures and falsify the balance data being reported; Karpeles says the discrepancies were caused by software bugs.
Although Karpeles didn’t walk off with the full $387 million of lost money, he is suspected of profiting from the exchange to the tune of around $1 million, and stands accused of deliberately misleading users about how safe their money was during his tenure. Lawyers representing Karpeles say the ex-Mt. Gox boss has done nothing illegal, but he has now been arrested and will be questioned by the Japanese authorities.
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