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Mt. Gox CEO Released on Bail in Embezzlement Case
Television footage showed France-produced Mark Karpeles, 31, leaving the Tokyo Detention House on Thursday after allegedly paying more than JPY 10 million ($95,000) to ensure his release.
“He’s quite pleased,” attorney Nobuyasu Ogata said of his customer’s release.
Karpeles pocketed millions of dollars worth of the virtual money and is facing claims that he falsified data.
It was unclear when he’d go to trial.
The French national – who cannot leave Japan as a condition of his bail – was detained and re-caught several times, expanding an initial three-week incarceration permitted under local law.
After declaring 850,000 Mt Gox shuttered in 2014 coins – worth around $480 million at the time – had vanished from its digital vaults.
The firm said there was a bug in the software underpinning Bitcoins that enabled hackers to pilfer them.
MtGox, which said it managed around 80 percent of worldwide Bitcoin trades, filed for bankruptcy protection shortly after the cyber cash went missing, leaving a trail of angry investors calling for solutions and denting the standing of the virtual currency.
Bitcoins aren’t backed by any government or central bank, unlike conventional monies, and are created by elaborate chains of interactions among a vast network of computers around earth.
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