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According to Reuters the former CEO of the collapsed Bitcoin exchange Mt. Gox, Mark Karpeles, has been arrested:
Mark Karpeles, the former head of defunct bitcoin exchange Mt. Gox, was arrested on Saturday in connection with the disappearance of hundreds of millions of dollars worth of the virtual currency, Japanese media reports said.
The French-born Karpeles, 30, is suspected of falsifying data on the outstanding balance of the exchange, at one point the world's largest hub for trading the digital currency, they added.
Police were unable to immediately confirm the reports.
The story is also covered at International Business Times, The New York Times and The BBC.
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Bitcoin Exchange CEO Mark Karpeles Arrested In Japan
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
TOO BAD YOU CAN'T BUY a voodoo globe so that you could make the earth spin
real fast and freak everybody out.
-- Jack Handey, The New Mexican, 1988.
(Score: 4, Interesting) by BK on Saturday August 01 2015, @06:08PM
Gray market or not, this is a rare case of a banker being held to account for bad acts. We should all rejoice. Now let's see if someone can do the same with BoA execs and robo-signing. Mind you, not "let's give the company a fine that they can afford 'cause they're too big to fail," but rather "let's put the guilty execs in federal PMITA prisons".
robo-signing [bizjournals.com]
...but you HAVE heard of me.
(Score: 3, Insightful) by Francis on Saturday August 01 2015, @08:14PM
It only happened because he's not a real banker, that's not a real bank and it wasn't real money either. Still, it's a good start, I'd like to see the geniuses that created BTC thrown in prison as well.
I've got no particular issues with this sort of currency, but one that's designed to rip off new comers is a scam.
(Score: 0) by Anonymous Coward on Saturday August 01 2015, @11:08PM
The ones who made BTC didn't do a damn thing. What would they be charged with?
(Score: 1, Insightful) by Anonymous Coward on Saturday August 01 2015, @11:20PM
Fraud. BTC is just one large ponzi scheme, they make money by tricking people into buying a worthless currency.
(Score: 0) by Anonymous Coward on Sunday August 02 2015, @12:34AM
That's a pretty dangerous definition of "fraud", because it could be used to convict anyone who comes up with new technologies that you deem have failed.
(Score: 0) by Anonymous Coward on Monday August 03 2015, @02:06AM
It's not a dangerous definition of fraud. It's been like that for ages. People had been pumping the crap out of the pseudo-currency to get paid, the profits came from luring people into the currency and they could then cash out.
It's fundamentally no different than a standard ponzi-scheme except it involves computers
(Score: 0) by Anonymous Coward on Sunday August 02 2015, @03:44PM
The ones committing fraud are the ones committing fraud. The creators of a tool have no control over how its used. Your argument is analogous to arguing that firearm and bullet manufacturers should be locked up for murder because the tools they created were used for murder.
(Score: 4, Interesting) by Hairyfeet on Sunday August 02 2015, @04:51AM
I would argue he was arrested precisely because it was NOT a bank and the cartels feel threatened by BC. Just look at the insane amount of "BC is nothing but drug/pedo money laundering" we've seen the past couple years from the MSM, no different than Monsanto puppets labeling anybody that even ASKS for a label on their food as dangerous quacks, or how much the big tobacco lobbyists have spent getting the MSM to label ecigs the next reefer madness and trying to get laws passed against them, despite several studies showing they help users quit which is what the government SAYS that they want.
If there is one thing we should have learned the past decade its that the established cartels don't like competition and when you have that level of money? Getting laws passed and groups targeted is just a phone call away. He will be made an example of, with the MSM propaganda using it to run yet another round of "BC is evil and shady for scumbags, trust in the banks" hit pieces. While I have no stake in BC after Manning and Snowden I've started paying attention and the amount of staying "on message" by the MSM is just insane, it reminds me of the old Airplane joke "4 alarm fire makes way for glorious new tractor factory!" in how pro establishment the spin is.
ACs are never seen so don't bother. Always ready to show SJWs for the racists they are.