Mt. Gox Bitcoin Exchange CEO Admits to Tweaking Account
Bitcoin exchange Mt. Gox has been out of operations for quite some time, with its CEO recently admitting to tweaking the accounts to test the computer system. Mark Kapeles is currently under arrest in Tokyo for suspicions of manipulating with the cryptocurrency accounts. After several investigations, authorities determined that a series of fraudulent activity led to the collapse of the bitcoin exchange and the loss of funds. Interestingly enough, this shutdown was seen as one of the major factors that drove bitcoin prices all the way down in 2014. Bitcoin Exchange Fraud. Karpeles continues....
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The major Bitcoin news headline this weekend came in the form of former Mt. Gox CEO Mark Karpeles being arrested in Japan. After Bitcoin exchange Mt. Gox was forced to shut down in 2014 due to “funds being stolen by hackers”, a recovery process for affected customers slowly started taking shape. But it looks like justice will be served sooner rather than later, as Mark Karpeles admitted to misusing customer funds. Bitcoin exchange Mt. Gox, which at one time was the largest digital currency exchange platform in the world, has always been controlled by one individual, named Mark Karpeles.....
According to investigators, bitcoin exchange Mt. Gox has actually been out of funds six months before the company filed for bankruptcy. This follows reports that CEO Mark Kapeles has admitted to tweaking accounts in the bitcoin exchange, prompting speculations that he did so to transfer funds to his personal account. Sources said that the company has been running a deficit on its balance sheet and started paying some clients with money drawn from other customers' accounts as early as August 2013. Mt. Gox had been one of the world's largest bitcoin exchange in that year. Bitcoin Exchange....
JPMorgan Chase has admitted to fraud charges and agreed to settle with the U.S. Department of Justice, the Commodity Futures Trading Commission, and the Securities and Exchange Commission. The firm has agreed to pay nearly a billion dollars in penalties and victim compensation. JPMorgan’s Fraud Cases The U.S. Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), and the Securities and Exchange Commission (SEC) announced separate actions against New York-based global banking and financial services firm JPMorgan Chase & Co. and several of its subsidiaries on....
OKEx, the global crypto exchange and trading platform is introducing a new experience to its trading community with a Unified Account. As the name suggests, Unified Account is one place from which OKEx users can execute trades across all instruments and manage their portfolios throughout the ecosystem. The OKEx Unified Account, also known as Portfolio […]
Not too long ago, the once largest bitcoin exchange in the world, Mt. Gox, suffered hacking attacks that led to the loss of several bitcoin and client funds. Its CEO, Mark Karpeles, is still under investigation for allegedly tweaking the accounts to funnel money to his own pocket. With that, the Japanese bitcoin exchange industry has been riddled with negative vibes, until bitFlyer came along. bitFlyer was launched by Yuzo Kano, a derivatives and convertible bonds trader at Goldman Sachs Group Inc., to recapture the market lost to Mt. Gox and hopefully restore confidence in the....