CEO of Mt. Gox: I'm Sorry, but I'm Innocent

Mark Karpeles, CEO of the bankrupt crypto exchange Mt. Gox, at the final court hearing stated that he is innocent. But he apologized for being unable to protect clients' money.


Cryptocurrency exchange Mt. Gox was one of the largest in the world. In 2013, it processed 80% of all Bitcoin transactions. In 2014, due to constant hacker attacks, the exchange was forced to file for bankruptcy. An investigation has shown the attackers managed to steal more than 800,000 BTC.

Since the bankruptcy, Mark Karpeles has been forced to “fight back” from the claims of the authorities and the affected clients. On Thursday, the final hearing of one of the lawsuits was held, under which Karpeles is accused of embezzling $3 million clients’ money and manipulating the trading data of the exchange. The investigation demanded the 10-year prison sentence for Karpeles.

Karpeles denied all accusations and stated that he was innocent. Simultaneously, he apologized to the users for failing to “protect” their cryptocurrency.

The court will rule out on this case on March 15, 2019.

1 year ago

Start Weekly Digest

Similar news