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Bitcoin Industry Reacts As Mark Karpeles Avoids Jail Over Mt. Gox Debacle



Mark Karpeles, the former head of defunct cryptocurrency exchange Mt. Gox, will unlikely serve time in jail following a significant acquittal by a Japanese court.

Court: Karpeles Did Not Embezzle Bitcoins

As multiple sources including Bloomberg reported March 14, Karpeles, who has been under suspicion for embezzling millions of dollars in user funds, is guilty only of record tampering in the eyes of Japanese law.

The Frenchman will serve a four-year suspended sentence, with the threat of a two-and-a-half-year jail term should he reoffend within that period.

Mt. Gox Where is Our Money

With that, Karpeles avoids the demands of prosecutors, who had sought a ten-year ...

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