03-18-2019, 11:38 AM
![[Image: z2-crypto-a-20180123-870x580.jpg]](https://cdn.japantimes.2xx.jp/wp-content/uploads/2018/01/z2-crypto-a-20180123-870x580.jpg)
In Tokyo today, a French national, Frank Karpeles was found guilty of "fiddling finances" at the firm he worked at. Mr. Karpeles was to be given a two-and-a-half year sentence and a four year suspension for mixing personal finances with those at this firm, in order to hide a 500 million dollar loss; although, his sentence was suspended.
Mr. Karpeles worked at Mt. Gox, the largest cryptocurrency exchange at its height, but due to a steep decline, investor confidence in the overall market was crippled. Also suffering a large breach and theft of over 850,000 BTC, in 2014. Mr. Karpeles was suspected to be connected to this breach, after he was able to recover some of the losses from an old wallet. Mr. Karpeles was arrested the following year, and at the time he persisted in claiming his innocence, but did apologize for the cyber attack, for "happening on his watch".
Mr. Karpeles' trial began in 2017, and so far prosecutors did insist on a 10 year sentence. They have backed this up with claiming he embezzled over 3 million in funds that belonged to customers.
Original article cane be found here.
That was the news folks, have a good week, stay safe out there.
-----Mad-Architect
