Former CEO caught Embezzling Bitcoin in Japan – Bitcoints

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Published on September 13th, 2015 | by bitcoin

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Former CEO caught Embezzling Bitcoin in Japan

Former CEO caught Embezzling Bitcoin in JapanThe former CEO of failed bitcoin exchange MtGox, which filed for bankruptcy in 2014, has been charged in Japan with embezzlement and falsifying data.
Authorities suspect the 30-year-old former CEO to have personally made off with $2.6 million worth of his customers’ bitcoins.
“Technically, it’s very easy for the CEO of a bitcoin exchange to steal from his customers, because he has access to their bitcoin wallet,” explained Justin Ganivet, an expert at cybersecurity and risk management firm Lexsi.
Despite the incident, MtGox soon became known as the world’s “main bitcoin exchange,” French economist Philippe Herlin told VICE News.
Follow Lucie Aubourg on Twitter: @lucieabrg Watch VICE News’ documentary Launching Balloons into North Korea: Propaganda Over Pyongyang: 

Topics:

france, japan, bitcoin, exchange, mtgox, embezzlement, mark karpelès, magic: the gathering, vice news france, asia and pacific, business

Source: News.vice.com

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