Nightmare, Mentougou CEO or 10 years of prison sentence

 The nightmare did not stop before Mentougou CEO or sentenced to 10 years in prison

According to Japan’s Kyodo News Agency on December 12th, Japanese prosecutors on the Mentougou Stock Exchange (Mt.Gox) CEO Mark Karpel s was sentenced to 10 years in prison. The prosecution reason is suspected of illegal theft of user accounts by Mentougou 341 million yen assets. Mark Karpel s claimed his innocence.

Whether the Mark Karpel s as the prosecution said jailed for 10 years is still unknown, but it has gradually been forgotten Mentougou exchange back to the public view, the exchange of experiences from the first industry to apply for bankruptcy in the past few years, and now to CEO may also face long term repeated setbacks. People sigh.

The Mentougou site was originally a online trading card game “magic” trading platform, its name (from Magic: The Gathering Online eXchange) acronym (Mt.Gox).

Mentougou founder Jed McCaled in 2010 will be transformed into a bitcoin trading platform, and in 2011 will be sold to Mark Karpel s, in which under the management of Mentougou became the world’s largest bitcoin exchange, bear more than 70% of global bitcoin transactions. On the Mentougou Stock Exchange registered users is a savings account, used to store coins, another for storing dollars or other foreign currencies, users need to use the money to buy bitcoin cash account.

It is said that before the Mark Karpel s took over Mentougou, the exchange was frequent and therefore object hackers lost a lot of bitcoin, but in the Jed McCaled under the spell of blandishments, Mark Karpel s still choose to buy the Mentougou stock exchange, from a mail pictures online can be found at Jed McCaled to Mark Karpel s. 4 (bad idea) to compensate for the stolen bitcoins loss:

 The nightmare did not stop before Mentougou CEO or sentenced to 10 years in prison

1. dollars to buy the company slowly with bitcoin up.

The 2. day of bitcoin, if bitcoin appreciation, to earn money back.

The 3. big investment in Mentougou to attract bitcoin.

4. don’t try to dig?

In the Jed McCaled Mark Karpel s under the spell of Mentougou took over the mess, unfortunately, in the first year it was accepted Mentougou hackers.

The cause of the incident may be one of the company’s auditor computer first attacked by hackers. Hackers use exchange access will bitcoin price to 1 cents a, and turn away nearly 2000 bitcoins.

Perhaps for good luck, although Mark Karpel s insists on “the world is boundless no principle my weekend in Mentougou, the largest” accident weekend don’t work overtime, at a time when Mentougou was able to maintain the position of the first industry, still take more than 70% of the world’s bitcoin transactions.

The Mentougou crisis began to appear in 2014 February

In February 7, 2014, Mentougou suspended all bitcoin currency service. The exchange is wrote in a statement, “loopholes in system, do not solve this vulnerability, the details of the transaction may be tampered with, for example, in the absence of bitcoin transfer case, may display the user will bitcoin into electronic wallet system.”

In February 23, 2014, Mark Karpel resigned from the bitcoin foundation board members. The same day, Mentougou removed its Twitter account all posts.

In February 24, 2014, Mentougou has suspended all trading activities, after the exchange completely offline. Internal documents were leaked that hackers stole 850 thousand bitcoins, when the price of more than $470 million, the stock exchange has been insolvent. The hacking incident is premeditated, but the exchange for years without noticing.

Mark Karpel s then held a news conference to announce the Mentougou bankruptcy, customers can apply for bankruptcy creditors, exchange the remaining 170 thousand bitcoins will be returned to the creditor, the earliest will receive compensation in 2019.

 The nightmare did not stop before Mentougou CEO or sentenced to 10 years in prison The Mentougou stock exchange is the basic to this is to withdraw from the stage of history. But for Mark Karpel s’s troubles continued, as the head of Mentougou, the customer complained that he did not take adequate security measures to protect the assets?

More skeptics say there is no what hacker attacks, Mark is Karpel s bitcoin away. Although this sounds unbelievable, but it is not a network in 2013, Weakness lends wings to rumours., for Willy customers in Mentougou stock exchange in every 5-10 minutes to create a new account, then buy 10-20 coins, which lasted for several months.

It is said that Mark Karpel s has admitted to the court he is Willy, but I didn’t do it for the money, but to make up for the deficit in exchange. In the Mark Karpel s before he had said he found the lost 200 thousand bitcoins in a cold wallet, this aggravated distrust of the outside world.

In 2015 Mark Karpel s to exchange for financial misappropriation and illegal possession of Japan was arrested in July 2016, was released on bail, but cannot leave japan.

In October 10, 2018 the Tokyo district court trial, Mark Karpel s denied the victim misappropriation of the funds raised will be questioned, also said to be challenged as misappropriation of the funds “detailed accounting. Mark Karpeles said, from the company into their private accounts for the company loan, he has been spending in the use of personal accounts for the company, as to why there is no private assets and the assets of the company is managed separately because “the trouble”.

Although Mark Karpel s has claimed his innocence and threatened to revive the Mentougou stock exchange, but the current Japanese prosecutors attitude, he seems to be very difficult to get out of jail, even if the chance is free, Mark Karpel s and his Mentougou stock exchange has also missed an era.

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