Bitcoin Magazine, 1/1/0001 12:00 AM PST As Mark Karpeles was being arrested on August 1, 2015, his former employee Ashley Barr, who operated under the name “Adam Turner,” took to Reddit to answer questions about his time at Mt.Gox. In his introduction, Barr wrote, “I was hired by Mark [Karpeles] in June 2011 to help him handle the crazy inbox at Mt.Gox during bitcoin’s initial rally. In January 2012 I was asked to become Mt.Gox’s CEO, a process which led to my dismissal in May 2012. My statement along with other ex-employees have led the Tokyo Metro Police’s arrest on embezzlement and ‘illegal manipulation of accounting.’ “We plan to eat pizza in front of Mark while he is in prison…” Barr talked openly about the work […] The post Ashley Barr Reveals New Details about Mt.Gox Operations after Karpeles’ Arrest appeared first on Bitcoin Magazine. |
Business Insider, 1/1/0001 12:00 AM PST Tokyo (AFP) - Japanese police on Saturday arrested Mark Karpeles, CEO of the collapsed MtGox bitcoin exchange, over the loss of nearly $390 million worth of the virtual currency, local media said. Karpeles, 30, is suspected of having accessed the computer system of the exchange and falsifying data on its outstanding balance, Kyodo News and public broadcaster NHK said. The global virtual currency community was shaken by the shuttering of MtGox, which froze withdrawals in February 2014 because of what the firm said was a bug in the software underpinning Bitcoin that allowed hackers to pilfer them. The exchange filed for bankruptcy protection soon after, admitting it had lost 850,000 coins worth 48 billion yen ($387 million) at the time. Karpeles later said he had found some 200,000 of the lost bitcoins in a "cold wallet" -- a storage device such as a memory stick that is not connected to other computers. Bitcoins are generated by complex chains of interactions among a huge network of computers around the planet and are not backed by any government or central bank. Immediate confirmation from police was not available.
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Time, 1/1/0001 12:00 AM PST Mark Karpeles, 30, could face up to five years in prison |
Gizmodo, 1/1/0001 12:00 AM PST Mark Karpales, the former CEO of scandal-hit Bitcoin trading emporium Mt. Gox, has been arrested this morning by Japanese police. They suspect he had something to do with the disappearance of hundreds of millions of dollars in Bitcoin ![]() |
CryptoCoins News, 1/1/0001 12:00 AM PST A Colorado credit union wants the states’ marijuana industry to bank with it. Its fate, however, is up to a federal judge after Fourth Corner Credit Union filed a pair of lawsuits in Denver this week against the US Federal Reserve and the National Credit Union Administration. The two federal institutions denied the Credit Union's applications to serve the marijuana industry. Fourth Corner, chartered by the State of Colorado Division of Financial Services in November 2014, was created to serve the state’s marijuana industry. The credit union has waited on the okay from federal insurers and regulators before opening for […] The post Cannabis Industry Bank Application Rejected By Federal Reserve & NCUA appeared first on CCN: Financial Bitcoin & Cryptocurrency News. |
TechCrunch, 1/1/0001 12:00 AM PST
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CryptoCoins News, 1/1/0001 12:00 AM PST Bitcoin trading has sold price down inside a descending channel. The failed attempt on $300 has cooled bullish exuberance and the market enters the weekend in a somber mood. Several indications that price may consolidate above $270 are showing in the chart. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 06h15 UTC Bitstamp 1-Hour Chart From the analysis pages of xbt.social, earlier today: Price has dipped below both the 1-hour 20-period moving […] The post Bitcoin Trading Pulls Price Below $280 appeared first on CCN: Financial Bitcoin & Cryptocurrency News. |
Engadget, 1/1/0001 12:00 AM PST
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BBC, 1/1/0001 12:00 AM PST The founder of MtGox - once the world's biggest Bitcoin exchange - is arrested by Japanese police investigating loss of nearly $400m. |
CryptoCoins News, 1/1/0001 12:00 AM PST Japanese authorities will be arresting Mark Karpeles, former CEO of Mt. Gox, at one time the largest Bitcoin exchange in the world. Investigators claim that Karpeles played the system for years, skimming bitcoins while the exchange was actually in debt. It is now commonly believed that the exchange may have been broke since as early as 2011, but always managed to appear as if things were being done properly. The Japanese government is charging Karpeles with cooking the books, using fake accounts to fill orders, fraudulently skimming funds in the process. Following the independent report from earlier this year which […] The post Bitcoin Exchange Operator Mark Karpeles to Be Arrested appeared first on CCN: Financial Bitcoin & Cryptocurrency News. |
CryptoCoins News, 1/1/0001 12:00 AM PST When fired from Reddit, the world’s first cryptocurrency engineer at a large corporation, Ryan Charles, hadn’t seen it coming. The post Former Reddit Cryptocurrency Engineer Hosts Hackathon For Reddit Alternative "Decentralize All The Things" appeared first on CCN: Financial Bitcoin & Cryptocurrency News. |