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Mark Karpeles is responsible for failing to protect funds, says Bitcoin Cash’s Roger Ver

Priya

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Mark Karpeles responsible for not doing a good job protecting funds, says Bitcoin Cash's Roger Ver
Source: Unsplash

Roger Ver, the CEO of Bitcoin.com and a well-known Bitcoin Cash proponent, recently spoke about Mark Karpeles. Karpeles, the former CEO of Mt. Gox – the infamous Bitcoin exchange, made headlines this week after he received a suspended sentence from the Tokyo District Court.

Karpeles was found guilty of altering numbers in the firm’s financial records and was acquitted of all other charges, including embezzlement of funds. The verdict came as a relief for the CEO as he would have faced up to ten years in prison if the alleged embezzlement charges had been proven. He was charged with the embezzlement of around $3 million in customer funds.

The Tokyo District Court ruled that “he had acted without ill intent,” reported Bloomberg. Additionally, he was given a two-and-a-half year suspended sentence, which he will have to serve if he committed another crime within the next four years.

The court also stated,

“The charge of electronic record tampering is true and deserves punishment, but there’s no criminal evidence of embezzlement […] there is no excuse for the defendant, who is an engineer with expert knowledge, to abuse his status and authority to perform clever criminal acts.”

Roger Ver, in an interview with Decrypt, stated that Karpeles was “responsible for not doing a good job protecting the funds from the hackers”. Nevertheless, the Bitcoin Cash proponent also clarified that he held the hackers responsible for stealing the funds.

Mt. Gox was once the biggest Bitcoin exchange platform in the world, controlling over 70% of all BTC transactions. However, the exchange fell victim to a hack, and subsequently lost control of over 7% of all Bitcoins in circulation. This resulted in the platform shutting down its operations and declaring bankruptcy.



Presently, Mt. Gox is undergoing a civil rehabilitation program under which victims of the platform will be repaid their losses with the Bitcoins that were discovered by Karpeles in cold wallets. Ver is noted to be one of these victims, holding “life-changing amounts of Bitcoins” on the exchange, reported Decrypt.

Further, with respect to Karpeles’s suspended prison sentence, Ver said that it was only for “those who are physically dangerous towards others”. He also suggested that people should be punished after they were convicted, not before, in light of Karpeles being interrogated for 50 days in a row.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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1 Comment

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    WILLIAM BOSLEY JR.

    March 19, 2019 at 11:12 PM

    I know that cocksmoker ver will never get this but I feel like he should have been held liable for the statement he read regarding funds being safe at mt. Gox and the “move along folks, nothing to see here” bit he acted out. As to his life changing stash I’m calling bullshit on this too. I believe he bailed out before mt.gox floundered. Did the guy have bitcoins everywhere or what? I dont know folks theres just always been something very smarmy about that guy and I cant put my finger on it because we only see what he wants us to see, hes clever like that. I shudder to use that word because that insinuates intelligence which I do not believe he possesses. Hes just an average, shady car salesman type who is most certainly a narcissist or a sociopath or both I’m not sure. I think it would be prudent for him to undergo psychiatric evaluation by an unbiased doctor or several and those results revealed to the community, then bch core devs be allowed to decide how to move forward with this entire program or just close shop entirely. Trust is critical of any endeavour, and roger ver cannot be trusted based on his own words and actions. I’ve seen nothing in his time in the limelight to indicate otherwise, and this pot calling the kettle black business is obsurd to say the least.

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Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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