Breaking: Failed Bitcoin Exchange Mt. Gox CEO Mark Karpeles Indicted for Embezzlement

Mark Karpeles, the CEO of failed bitcoin exchange Mt Gox, has been charged with embezzlement by Japanese prosecutors. Reports suggest Karpeles remains in the custody of Japanese police but has the option to request his release from the court while he awaits trial. The news comes after Karpeles was re-arrested in Tokyo at the end of August on allegations that he had embezzled ¥321m ($2.6m) from the company to fund his own personal projects. Karpeles was first arrested in Tokyo on 1st August amid allegations that he had manipulated volume on the now defunct bitcoin exchange. CrimeMark....

Previously, the Tokyo District Public Prosecutors Office indicted Mark Karpeles with embezzlement. This week, The Guardian disclosed that the former Mt. Gox CEO has been alleged by the Japanese Prosecutors for the embezzlement of US$2.62 million worth of bitcoin. Karpeles however, denied the charges and claimed that he "had intended to pay back the money," reported the Yomiuri Shimbun. Bitcoin Cannot be owned. On August 6, the Tokyo District Court ruled that the bitcoins lost during the collapse of Mt. Gox cannot be reimbursed, because virtual currency cannot be subjected to ownership.....

Mt Gox CEO Mark Karpeles has been released on bail 10 months after being charged with embezzlement, according to a Japanese media report. Karpeles was charged in September amidst an investigation into the collapse of Mt Gox, the now-defunct bitcoin exchange that, at its height was the most voluminous bitcoin exchange in the world. Mt Gox collapsed in early 2014 after it was revealed that the exchange had lost hundreds of millions of dollars in customer bitcoin. According to local Japanese media outlet news24, Karpeles paid ¥10m (roughly $95k) prior to being released on bail. Karpeles is....

According to recent reports, an earlier hacking incident that occurred even before Mark Karpeles took over Mt Gox may have also contributed to its demise. What really happened with Mt Gox, the world’s largest Bitcoin exchange at one time which unfortunately went bankrupt? The bankruptcy was allegedly brought upon it due to the theft of huge amounts of bitcoin by hackers combined with mismanagement and embezzlement by Mark Karpeles, the owner and CEO of Mt Gox at that time. But with conflicting reports going around, it is hard to track the whole operating history of Mt Gox along with the....

France-born Mark Karpeles, the head of collapsed Bitcoin exchange MtGox, is in deep legal trouble after Japanese prosecutors charged him with embezzlement. Karpeles faces charges of fraud over the disappearance of hundreds of millions of dollars in Bitcoin that belonged to Gox traders. Interestingly, a report says that the bankruptcy claims against Gox have added up to be six times the market cap of Bitcoin itself. The amount of all the bankruptcy claims filed by over 24,000 creditors is found to be ¥2.66 trillion, which translates to $22.09 billion USD. Bankruptcy claims filed by Gox’s....