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Topic: [2016-07-16] Bitcoin CEO released on bail in embezzlement case (Read 372 times)

legendary
Activity: 1450
Merit: 1013
Cryptanalyst castrated by his government, 1952
Wow, that just goes to show that the best way to keep your coins is in a paper wallet and not a bitcoin exchange wallet. Because you never know which exchange will remain safe and for how long...

You must be new to Bitcoin, because this is very old news and old advice too... We are continuously warning people to stay away from these exchanges or not to "store" large

quantities of bitcoins on these exchanges, because they are centralized services and they are under constant attacks, because the store large amounts of money. MtGox is just

one example, because there were many.  Angry

Agreed. Never leave funds on an exchange if you can avoid it.

Also, "Bitcoin CEO" headlines are a standing joke here. I'm surprised to see someone still trying it out as a straight line.

legendary
Activity: 1904
Merit: 1074
Wow, that just goes to show that the best way to keep your coins is in a paper wallet and not a bitcoin exchange wallet. Because you never know which exchange will remain safe and for how long...

You must be new to Bitcoin, because this is very old news and old advice too... We are continuously warning people to stay away from these exchanges or not to "store" large

quantities of bitcoins on these exchanges, because they are centralized services and they are under constant attacks, because the store large amounts of money. MtGox is just

one example, because there were many.  Angry
sr. member
Activity: 350
Merit: 250
Wow, that just goes to show that the best way to keep your coins is in a paper wallet and not a bitcoin exchange wallet. Because you never know which exchange will remain safe and for how long...
hero member
Activity: 756
Merit: 503
TOKYO —

The head of collapsed Bitcoin exchange MtGox has been released on bail nearly a year after his arrest on embezzlement charges, according to one of his lawyers.

Television footage showed France-born Mark Karpeles, 31, leaving the Tokyo Detention House on Thursday after reportedly paying more than 10 million yen to secure his release.

It was the first time that Karpeles—noticeably thinner with long hair in a pony tail and wearing a baseball cap—has been out of custody since his arrest in August following the demise of the Tokyo-based Bitcoin exchange.

“He is very pleased,” lawyer Nobuyasu Ogata said of his client’s release.

Karpeles is facing allegations that he fraudulently manipulated data and pocketed millions of dollars worth of the virtual currency.

It was not clear when he would go to trial.

The French national—who cannot leave Japan as a condition of his bail—was arrested and re-arrested several times, extending an initial three-week incarceration allowed under local law.

MtGox shuttered in 2014 after admitting 850,000 coins—worth around $480 million at the time—had disappeared from its digital vaults.

The company initially said there was a bug in the software underpinning Bitcoins that allowed hackers to pilfer them.

Karpeles later claimed he had found some 200,000 of the lost coins in a “cold wallet”—a storage device, such as a memory stick, that is not connected to other computers.

MtGox, which once said it handled around 80 percent of global Bitcoin transactions, filed for bankruptcy protection soon after the cyber-money went missing, leaving a trail of angry investors calling for answers and denting the virtual currency’s reputation.

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, unlike traditional currencies.

source : http://www.japantoday.com/category/crime/view/bitcoin-ceo-released-on-bail-in-embezzlement-case
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