Mt. Gox CEO Again Under Suspicion of Mishandling Customers’ Accounts


Mt. Gox CEO Once Again Under Suspicion for Mishandling Customers’ Accounts – Alleged facts about Mt. Gox CEO Mark Karpeles mishandling the customers’ accounts were revealed, after a panel of exchange current and former staff underwent a discussion with Reuters. As per the three interviewed employees, Mr. Karpeles, two years before the exchange’s bankruptcy, was using the customers’ money to cover the company’s operative costs.

Started as a small venture, Mt. Gox quickly emerged as the world’s largest Bitcoin exchange platform. Also emerged were the company’s costs, which included rented office space in Tokyo’s reputed business center, installation of hi-tech robots, and Karpeles’ very own Honda Civic from Britain. The Mt. Gox employees exposed the involvement of Mark in diverting the clients’ money for such expenditures, saying they were not even given any sort of financial details back then.


Facts that directly points to Mark Karpeles’ involvement in draining client’s money also include his expenses that were paid by the same bank which stored the customers’ deposits, stated Reuters. The employees were also informed of a one-hour meeting with Karpeles in 2012, in which he assured them that the clients’ money was not used in company’s expenditures. The doubts of the employees raised when the man denied to share the financial details with them, as mentioned above.

The Mt. Gox Conspiracy Theory
If reports are to be believed, one can assume that Mt. Gox CEO was gradually taking out expenses from the customers; bank accounts, especially when he was a part of an unregulated financial institution. Early rumors about the Mark’s alleged involvement in the February’s million-dollar theft at Mt. Gox is now investigable. Recently, experts have also found out that only a handful of Bitcoins were stolen from Mt. Gox due to the much-hyped DDoS attack.

The fall is now on Tokyo investigation panel that whether it will consider the latest revealed facts or not.

To contact the reporter of the story: Yashu Gola at