Filter

Tokyo Court Finds Former Head of Crypto Exchange Mt. Gox Guilty

The former head of Mt.Gox, the cryptocurrency exchange that was subject to one of the most high-profile hacks in the industry, has been found guilty of tampering financial records by the Tokyo District Court. Mark Karpelès is unlikely to serve jail time after being given a suspended jail sentence. The court found that he had mixed personal financial records with that of the exchange and made modifications. However, he has been cleared of charges of embezzlement, as the court concluded that he had acted without malice. The tampering was an effort to mask the total losses that the exchange suffered. About a quarter of the total losses had been recovered and the manipulation resulted in an increased total of about $33.5 million. The 2½ year sentence that had been imposed on Mark Karpelè...