MtGox CEO Arrested Amidst Suspicion Surrounding Missing Bitcoin

On August 1st, Mark Karpeles, CEO of the bankrupt MtGox Bitcoin exchange, was arrested by Tokyo Police, NHK World News reported. Police currently suspect Karpeles knows what happened to the approximately 650,000 Bitcoins and also manipulated the MtGox computer system.

MtGox ceased operations in February 2014, reporting that hackers were responsible for all missing funds. In November, the Kraken Bitcoin Exchange was selected to aid in MtGox creditor claims. In April, Kraken began accepting creditor claims.

Since the shutdown and throughout claim submissions, there’s been an ongoing investigation by Tokyo Police into what really happened to missing funds.

According to NHK World News, Police say most of MtGox’s Bitcoins were sent to another account.

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