Prosecutors drop appeal against Mt. The Gox CEO is the curse of Acquittal
Japanese prosecutors allegedly dropped their appeal to acquittal to former Mt. Gox CEO Mark Karpeles, The Mainichi, reports on March 29.
15. March CEO of the now revealed Mt. The Gox cryptocurrency exchange was acquitted of allegations of poisoning, but was found guilty of tampering with financial records.
According to Mainichi, the prosecutors had initially tried to appeal the acquittal of poisoning costs, but later decided to leave the decision. 19659002] Karpeles was allegedly charged with taking 341 million yen ($ 3 million) of customers' money in Mt. Gox accounts and use it on a software developer and personal extravagances like a canopy.
Although he was acquitted of the aforementioned alleged in vain, the Tokyo District Court found that Karpeles was due to blend his personal finances with those who were exchanged to hide the platform's loss for hackers. He received imprisonment for two and a half years, which he does not need to serve, unless he commits another offense within four years.
Referring to sources that are familiar with the case, The Mainichi reports that Karpeles lawyers are in turn contemplating appealing the charges for manipulating financial records.
Mt. Gox was based in Tokyo and had provided about 70 percent of Bitcoin (BTC) transactions worldwide before it suffered a major cyber attack, leading to bankruptcy. In 201[ads1]1, the price of Bitcoin on Mt. Gox exchange dropped to record low on one cent due to a security breach.
The subsequent collapse of exchange early in 2014 led to a loss of 850,000 BTC, valued at around $ 460 million at that time.
Last week, Nobuaki Kobayashi, Mt. The Gox boss announced that he has finished processing creditors and will be notified of the results within a few days. Over 24,000 creditors are believed to have been affected by the collapse of the exchange.