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By CCN: Mark Karpeles, disgraced CEO of the infamous Mt. Gox crypto exchange, has revealed new plans in the blockchain space. According to Associated Press, he will launch a new venture with a view to making Japan a “global leader in blockchain.”
Karpeles was found guilty for manipulating data at Mt. Gox and handed a suspended sentence earlier this year. Now, he’s looking to dip his toes back in the water with a new blockchain business venture.
Mark Karpeles: $450 million lost on his watch
Karpeles shot to infamy in the crypto space when hackers stole 850,000 BTC from Mt. Gox, the largest crypto exchange in the world at the time. Under Karpeles’ leadership, the exchange collapsed into bankruptcy.
Mt. Gox victim protests outside Mark karpeles’ offices in Japan after $450 million hack. | Source: AP
Prosecutors went after Karpeles for embezzlement and fraud, claiming he siphoned $3 million from client accounts prior to the hack. Karpeles was cleared of these charges, avoiding a ten-year prison sentence.
The judge did, however, find evidence of record tampering in the weeks leading up to the loss of funds: