Mark Karpeles news

The former CEO of bitcoin exchange Mt. Gox.

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Mark Karpeles is not entirely at fault for the Mt. Gox episode, claims Peter McCormack

Peter McCormack of the WhatBitcoinDid podcast fame, was on the hot seat as a guest on Brock Pierce’s podcast. The podcast touched upon a host of topics, including how Peter McCormack came to enter the crypto business, his career as a crypto-podcaster, and his opinion of Mt. Gox’s Mark Karpeles. When asked about how Peter McCormack came to be introduced to the world of cryptocurrency, McCormack stated that he discovered cryptos through Silk Road, the darknet marketplace that was shut down over charges of alleged drug trafficking and arms smuggling. However, McCormack conceded that he didn’t fully get into crypto until late 2016, when he bought Bitcoins to arrange CBD (Cannabidiol) for his sick mother. The popular podcaster also admitted to having earned and lost a lot of Bitcoin over the period. McCormack elaborated on his introduction to the world of crypto, stating that he started by writing articles and blogging about Bitcoin, before a friend convinced him to go ahead with a podcast. Citing the host of crypto-proponents he interviewed via his podcast, including the likes of Luke Martin, Charles Hoskinson, Charlie Lee, Jameson Lopp, Adam Back, and Hester Pierce, Peter McCormack had a piece of advice to give to fellow podcasters: “Get very good guests.” McCormack and Brock Pierce also discussed other subjects pertinent to the world of cryptocurrency. The host of WhatBitcoinDid podcast agreed with Pierce who felt that the sentencing of Ross Ulbricht, the man behind Silk Road, was harsh and severe. Pierce had cited the argument that Ulbricht was neither buying or selling on the darknet marketplace and the fact that the world’s most dangerous drug lord, ‘El Chapo’, received a comparatively reduced sentence. The podcaster also provided some interesting insights into the character of Mark Karpeles, the former CEO of Mt. Gox, once the world’s largest Bitcoin exchange. Talking about the time he met Karpeles in Japan, McCormack said, “Karpeles did a lot of stupid things, but I have a lot of sympathy for him.” McCormack also spoke about Karpeles as a “nice guy”, stating that on a person-to-person level, the podcaster liked him and felt sorry for him since he seemed like “he had been through a lot”. With respect to the allegations leveled against Mark Karpeles, McCormack said, “He was the wrong guy in the wrong place and got trapped in a situation, and I don’t think he’s entirely at fault.” The post Mark Karpeles is not entirely at fault for the Mt. Gox episode, claims Peter McCormack appeared first on AMBCrypto.

Mark Karpeles seeks appeal over Tokyo District Court ruling

Mark Karpeles, former CEO at Mt. Gox cryptocurrency exchange, is appealing his conviction, AP news writes. Although recently cleared of embezzlement and breach of trust charges, Karpeles was found guilty of tampering with records by Tokyo District Court and given a suspended sentence. According to the court, he manipulated the data to cause harm to his clients, thus betraying their trust.   “I believe appealing to the judgment is appropriate so that I can be judged again in full consideration of all the facts,” Karpeles stated. Karpeles’ lawyer Nobuyasu Ogata maintains that his client acted in Mt. Gox’s customers best interest and was trying to decrease the damage caused by the hack. He also said the court blamed Karpeles for the hack as it did not understand how cryptocurrency exchanges operated.
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Mt. Gox: Tokyo prosecutors drop embezzlement charges against Mark Karpeles

Embezzlement charges against Mark Karpeles, former CEO of the infamous Bitcoin exchange, Mt. Gox, have been dropped, reported The Mainichi. Tokyo prosecutors had previously leveled charges of fraud, embezzlement and breach of trust on Karpeles. The prosecutors had asked the court for a ten-year prison sentence, but had to settle for a meager judgment instead. On 15 March, a Tokyo District court charged Karpeles of falsifying electronic data, but did not find him guilty of embezzlement, much to the fury of the cryptocurrency community. The French businessman was granted a suspended jail sentence of two and a half years by the court, and will not face jail time if he does not commit any crime for four years. Between the period of September to December 2013, Karpeles was accused of transferring 341 million yen [$3 million] from his customers’ accounts to Mt. Gox accounts. According to alleged reports, the sum was also used to purchase a slew of items like a software developer and a canopy bed worth 6 million yen. According to the charges, between February and January of the same year, Karpeles also manipulated the exchange’s Bitcoin trade data to show the amount inclusive of his account details. The charges levied against Karpeles stated that he mixed his personal finance with that of the exchange. In order to conceal the exchange’s losses, the former CEO used his accounts to inflate the exchange’s Bitcoin trade data and was found guilty by the Tokyo District Court. The Mainichi also reported that the Frenchman’s lawyers were mulling over the prospect of appealing the falsifying data charges, with the hope of getting these charges dropped as well. Mt. Gox was the world’s largest Bitcoin exchange, handling over 70 percent of all BTC transactions around the globe in January 2014. A hack a month later however, rendered the exchange bankrupt. Over 740,000 Bitcoins or 7 percent of the global BTCs in supply at the time were affected, with the exchange’s bank accounts seeing a $27 million theft as well. The post Mt. Gox: Tokyo prosecutors drop embezzlement charges against Mark Karpeles appeared first on AMBCrypto.

Mark Karpeles Will Appeal Mt. Gox Conviction

Mark Karpelès, the former CEO of the defunct Mt. Gox Bitcoin exchange says he will appeal his conviction on electronic data manipulation charges. Meanwhile, prosecutors on the case have announced their decision not to appeal Karpelès’ acquittal on embezzlement charges. Karpelès is also a Victim of the Mt. Gox Hack According to the Associated Press (AP), Karpelès’ lawyer, Nobuyasu Ogata believes his client’s actions during the Mt. Gox saga were tailored towards minimizing the risk exposure of the platform’s users. Ogata’s comments come in the wake of the decision of the Tokyo District Court to convict the former Mt. Gox chief on data manipulation charges. Karpelès was, however, found not guilty of embezzlement and was handed a suspended sentence which means no jail time unless he is found guilty of another crime within the next four years. Karpelès’ lawyer expressed delight at the latter ruling of the court, calling it “a proper decision.” However, the ex Mt. Gox CEO plans to appeal his conviction on data manipulation charges, as revealed in an email to AP, which reads in part: During the opening of my trial in 2017, I swore to God that I am innocent of all charges. I believe appealing to the judgment is appropriate so that I can be judged again in full consideration of all the facts. In a statement quoted by AP, Ogata maintained that Karpelès actions couldn’t be construed as illegitimate. Ogata even went further to state that Karpelès was as much a victim of the Mt. Gox hack as were the platform users and any guilty verdict was akin to scapegoating his client. Prosecution Won’t Appeal Court Ruling In a related development, prosecutors on the case say they will not be pursuing an appeal of the court’s decision to acquit Karpelès of embezzlement charges. According to inside sources who spoke to local Japanese media outlet, The Mainichi, prosecutors have decided to abide by the court’s ruling. At the start of proceedings, Karpelès faced the possibility of a ten-year sentence over charges of unlawfully misappropriating $3 million in customer deposits for personal use. These withdrawals allegedly went towards the acquisition of a software developer, as well as other personal expenditure. The court ruled that the business expenditure was legitimate and that all personal spending amounted to loans from Mt. Gox which Karpelès had every intention of repaying. Do you think Mark Karpelès got off easy? Share your thoughts with us in the comments below. Image courtesy of Bitcoinist archives. The post Mark Karpeles Will Appeal Mt. Gox Conviction appeared first on
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Under Attack

Attacks concerning on wallets and cryptocurrency exchanges is becoming the standard of the industry. Everything is vulnerable — from huge market-monsters to new projects, and sometimes it seems that it is better not to trust anyone at all.

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US Telecoms Giant AT&T Now Accepting Crypto Payments via BitPay

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AT&T Will Now Accept Bitcoin For Your Phone Bill

US-based mobile users can now use bitcoin and cryptocurrency to pay their bill thanks to a new partnership between AT&T and BitPay. AT&T Will Take Your Bitcoin Bitcoin’s path to mass adoption continues forward as major US telecom giant AT&T has announced that customers now have the option to pay their bills in cryptocurrency. The addition of crypto payments makes AT&T the first major U.S. mobile carrier to offer this option and Kevin McDorman, AT&T’s vice president of Communications Finance Business Operations said: We’re always looking for ways to improve and expand our services [and] we have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer. Currently, the crypto payments are limited to bill payment only and AT&T did not specify whether customers would be able to purchase smartphones and other accessories online or in AT&T’s brick and mortar stores. Customers interested in making crypto payments can simply select BitPay as the payment option when they login to their accounts online or through the myAT&T app. Will Corporations FOMO into Cryptocurrency? AT&T is not the first major US-based corporation to accept cryptocurrency payments as Overstock, Expedia, Subway, Shopify, and Microsoft are just a few of the major multinational corporations accepting crypto payments. Just recently, Whole Foods and a slew of other big-name retailer have also started accepting bitcoin via another third-party payment partnership. But considering AT&T’s name recognition and dominance in the telecom sector the announcement is sure to make waves and is extremely positive news for the cryptocurrency sector. Are you going to spend your bitcoin on a cell phone bill? — Mr.Hodl (@MrHodl) May 23, 2019 As one would expect, not everyone is over-the-moon about the telecom’s new found love for cryptocurrency. Morgan Creek Digital co-founder Anthony Pompliano excitedly tweeted the news and is currently being bombarded by an array of semi-skeptical replies to AT&T’s announcement. Would you use your Bitcoins to pay your phone bill? Share your thoughts in the comments below!  Images via, Twitter, Shutterstock The post AT&T Will Now Accept Bitcoin For Your Phone Bill appeared first on

AT&T now accepts Bitcoin as payment for its 150+ million subscribers

AT&T, the world’s largest telecommunications company, became the first major U.S. mobile carrier to accept Bitcoin for payment. AT&T customers will now be able to select BitPay as a payment option, allowing for bill payment in Bitcoin and Bitcoin Cash. The telecom company had over 150 million subscribers as of Q4 2018. “We’re always looking for ways to improve and expand our services,” said Kevin McDorman, vice president, AT&T Communications Finance Business Operations. “We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.” This story is in progress. The post AT&T now accepts Bitcoin as payment for its 150+ million subscribers appeared first on CryptoSlate.
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