Fraud is considered in the collapse of Mt. Gox bitcoin exchange
Posted by: Timothy Weaver on 01/01/2015 10:26 AM
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According to a report in Japan’s Yomiuri Shimbun newspaper, sources close to the Tokyo police probe are speculating that the theft of nearly US$370 million in bitcoin that disappeared in the February 2014 collapse of Mt. Gox probably vanished due to fraudulent transactions, with only 1 percent taken by hackers.
The report is in direct conflict with the Feb. 28 statement by Mt.Gox. In it, they stated: “We believe that there is a high probability that these bitcoins were stolen as a result of an abuse of this bug. And suggested “a variety of causes including hacking by third parties.”
Former Mt. Gox CEO Mark Karpeles said: :”There’s not much I can say at this point, except the fact that I will continue investigating in order to find what really happened.”
According to the Yomiuri newspaper, police investigators analyzed Internet connection records for various transactions on the exchange. It found that bitcoins were being pooled by unknown parties and the pools did not correlate to customer accounts.
The report is in direct conflict with the Feb. 28 statement by Mt.Gox. In it, they stated: “We believe that there is a high probability that these bitcoins were stolen as a result of an abuse of this bug. And suggested “a variety of causes including hacking by third parties.”
Former Mt. Gox CEO Mark Karpeles said: :”There’s not much I can say at this point, except the fact that I will continue investigating in order to find what really happened.”
According to the Yomiuri newspaper, police investigators analyzed Internet connection records for various transactions on the exchange. It found that bitcoins were being pooled by unknown parties and the pools did not correlate to customer accounts.
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