A Japanese judge ruled in support of the data tampering charges moved against the CEO of now-defunct crypto exchange Mt. Gox.
A Japanese judge ruled in support of data tampering charges moved against Mark Karpeles — the CEO of now-defunct crypto exchange, Mt. Gox.
At the end of March, Karpeles appealed his conviction on charges of having tampered with financial record data to harm his clients. Now, local news outlet Nikkei reported on June 11 that Tokyo District Court Judge Mariko Goto decided to uphold the previous ruling.
Karpeles sentenced to over 2 years in jail
The previous ruling sentenced Karpeles to two and a half years in jail for tampering with Mt. Gox data for February-September 2013 and depositing $33.5 million into his account. He will not have to serve this sentence unless he commits another offense within four years.
Karpeles claimed that increasing his account’s balance was not a crime. The Judge, on the other hand, ruled that this action violated the terms and conditions of the firm and added that the account balance was doctored in order to conceal fake Bitcoin (BTC) by the firm.
Mt. Gox was once the largest and most successful cryptocurrency exchange in the world. At the time of its closure, it was the biggest cryptocurrency exchange to disappear following a hack. In February 2014, the firm stated that almost 750,000 of its customers’ Bitcoins, as well as 100,000 of the firm’s own Bitcoins were stolen.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.