Bitcoin exchange operator charged with embezzlement

Rob Beschizza 5:20 am Mon Sep 14, 2015

karpeles

Mark Karpeles, the operator of Bitcoin exchange/scam Mt. Gox, was charged Friday with embezzlement in connection to its collapse.

Karpeles, 30, was arrested last month in Tokyo, where he remains in custody after being accused of falsifying data and snagging millions of dollars' worth of the digital currency.

Yahoo News:

Tokyo-based MtGox shuttered last year after admitting 850,000 coins — worth around $480 million at the time, or $387 million at current exchange rates — had disappeared from its digital vaults.

The exchange, which once said it handled around 80 percent of global Bitcoin transactions, filed for bankruptcy protection soon after the cyber-money went missing, leaving a trail of angry investors calling for answers.

The company initially said there was a bug in the software underpinning Bitcoins that allowed hackers to pilfer them.

Previously: Mt. Gox files for bankruptcy

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