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The Former Head Of Mt.Gox Goes To Prison For 10 Years

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The former CEO of Mt.Gox, the world's largest bitcoin exchange, which went bankrupt in 2014, Mark Karpeles, may goes to prison 10 years. 

At the hearing by the Tokyo District Court, he has accused of transferring to his own account in September-December 2013, 341 million yen ($ 3 million) owned by customers for his personal, for example, investing in a software development business, as well as manipulating platform data.

Although the procurors believe that Karpeles “played a huge role in completely undermining the trust of Bitcoin holders” and demands 10 years in prison for embezzlement for him, he still does not admit his guilt in stealing and manipulating Mt. Gox.

Recall that four years ago Mt. Gox announced a hack, as a result of which hackers have stolen 850 thousand BTC. Since August of this year, private clients of the exchange, and since September and corporate customers could apply for the return of the lost funds placed on the platform.

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