Arab Today, arab today bitcoin exchange ceo to face new criminal allegations
Last Updated : GMT 13:25:10
Arab Today, arab today
Arab Today, arab today

Bitcoin exchange CEO to face new criminal allegations

Arab Today, arab today

Arab Today, arab today Bitcoin exchange CEO to face new criminal allegations

Police officers carry evidence out of house of Mark Karpeles
Tokyo - AFP

Japanese police will re-arrest the CEO of collapsed Bitcoin exchange MtGox on theft allegations, reports said Thursday, as he faces questions over the disappearance of hundreds of millions of dollars worth of the virtual currency.

France-born Mark Karpeles, 30, was taken into custody in Tokyo this month over claims he manipulated data to artificially create about $1.0 million worth of the digital money.

He has been held without formal charges for three weeks, as allowed under Japanese law, but the Yomiuri newspaper said police plan to issue a fresh arrest warrant accusing him of pocketing $2.6 million worth of Bitcoin deposits.

The report, which cited investigators, said the self-described computer geek spent most of that money on buying software rights, but also splashed out about $48,000 for a luxury bed.

Japanese police can interrogate a suspect for 20 days following their arrest, but with Karpeles' time in custody set to end this week, a fresh arrest warrant would reset the clock on how long police can hold him.

Karpeles was first taken into custody over claims he fraudulently tinkered with data and transferred funds to other firms controlled by him dozens of times between 2011 and 2013.

However, police are also reportedly interested in questioning Karpeles about the disappearance of 850,000 coins worth 48 billion yen last year. They were valued at around $480 million at the time of the disappearance, and $387 million at current exchange rates.

Tokyo-based MtGox froze withdrawals in early 2014 and was later shuttered over the missing money, which it said was linked to a bug in the software underpinning Bitcoins that allowed hackers to pilfer them.

The exchange -- which once boasted it handled around 80 percent of global Bitcoin transactions -- filed for bankruptcy protection soon after the cyber-money went missing.

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, unlike traditional currencies.

Backers say virtual currencies allow for an efficient and anonymous way to store and transfer funds online. But critics argue the lack of legal framework governing the currency, the opaque way it is traded and its volatility make it dangerous.

Bitcoin's reputation was also damaged when US authorities seized funds as part of an investigation into the online black market Silk Road.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bitcoin exchange ceo to face new criminal allegations Arab Today, arab today bitcoin exchange ceo to face new criminal allegations

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday