Home / Channel / General Tech / Mt Gox CEO charged with embezzling bitcoins

Mt Gox CEO charged with embezzling bitcoins

The former CEO of Mt Gox, Mark Karpelès has been officially charged with embezzlement by Japanese prosecutors. The former head of the Mt Gox Bitcoin exchange is said to have embezzled ¥321 million or £1.7 million. The exchange itself fell apart in 2014 after hundreds of thousands of Bitcoins disappeared from user wallets.

Karpelès allegedly transferred money from the Mt Gox bank account to other accounts back in 2013, some of that money was used for 3D rendering software, while some of it was used on personal items, according to the Jiji Press. 

Mt-Gox-Logo1

Karpelès was arrested back in August. At the time, it was believed that he went in to the Mt Gox Exchange system back in February 2013 in order to inflate his own funds by around $1 million. So far, the former CEO has denied charges, apparently, he also planned to pay back any money he took.

Discuss on our Facebook page, HERE.

KitGuru Says: The Mt Gox crash was a pretty big story last year and it looks like there is still more to it. Did any of you ever mine Bitcoins or use Mt Gox?

Via: The Guardian

Become a Patron!

Check Also

Lenovo releases world’s first foldable PC

After plenty of extra time in development, Lenovo is now officially ready to launch the …