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Bitcoin Industry Reacts As Mark Karpeles Avoids Jail Over Mt. Gox Debacle



Mark Karpeles, the former head of the decommissioned cryptocurrency. Gox, unlikely to serve time in prison after an important acquittal by a Japanese court.


Court: Karpeles did not throw Bitcoin

As multiple sources included Bloomberg reported on March 14, Karpeles, who was suspected of embezzling millions of dollars in user funds, is guilty only of record tampering in the eyes of Japanese law.

The French will have a suspended sentence of four years, with the threat of a two-and-a-half year prison term in the event of a recurrence within that period.

  Mt. Gox Where is Our Money

With this, Karpeles avoids the demands of prosecutors, who had sought a ten-year prison sentence after claiming to have used the stolen money to finance a luxurious lifestyle.

tampering is true and deserves punishment, but there is no criminal evidence of embezzlement, " Bloomberg quoted the court's verdict as stated.

Translated by Yuji Nakamura, who contributed to Bloomberg reports, the verdict continues:

There is no excuse for the defendant, who is an engineer with specialized knowledge, to abuse his status and authority to perform intelligent criminal acts We cannot look lightly at the criminal responsibility of the defendant.

Five Years Of Hell

Mt. Gox collapsed at the beginning of 2014 after the exchange lost 850,000 bitcoin against malignant parts, some of which have subsequently been recovered.

Karpeles has obtained considerable negative publicity during the debacle and the consequent legal process, with angry users who lost money by accusing him of neg ligenza.

The former CEO has consistently protested his innocence, while he seemed to reinvent himself in the transition period, losing a considerable amount of weight during the previous detention for the charges.

Meanwhile, the procedure sold off bitcoin funds to repay users caused controversy during the last year. As reported by Bitcoinist it emerged that huge quantities of BTC were sold on the open market, leading to the volatility of bitcoin prices worldwide.

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Images courtesy of Shutterstock, Bitcoinist archives


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