Founder of Hacked Bitcoin Exchange Mt.Gox Mark Karpeles Sentenced to Over Two Years

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Mark Karpeles, the founder of the now-defunct bitcoin exchange Mt.Gox, was found guilty of tampering with records and given a suspended prison sentence of two years and six months. The High Court ruling comes five years after a massive security breach in 2014 at Mt.Gox that led to millions of dollars in losses for both local and foreign bitcoin investors. The courts found Karpeles guilty of “illegally producing electronic records” in connection to Mt. Gox’s books and was given a sentence of two years six months; He was not found guilty of embezzlement and aggravated breach of trust. According to WSJ, if Karpeles remains on “good behavior” over the next four years he won’t serve prison time. History on Mt.Gox At the time of the hack, losses were pegged at 850,000 bitcoins—consisting of 750,000 customer bitcoins, 100,000 of the exchange’s own and worth approximately $500 million. Two hundred thousand bitcoins…

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