The Tokyo District Court has found Mark Karpeles, the former head of now-defunct Bitcoin exchange platform Mt. Gox, guilty of record tampering but innocent on other charges related to embezzlement and breach of trust.
The fund injection will be used to expand the startup's operations including its Chainalysis Know-Your-Transaction (KYT) tool which allows more than 100 crypto exchanges and financial institutions to vet their clients.
Former Mt. Gox CEO Mark Karpeles has run into trouble in the Japanese legal system, and prosecutors are pursuing a 10-year jail sentence for alleged embezzlement during his tenure at Mt. Gox.
Nobuaki Kobayashi, the trustee of now-defunct Tokyo exchange Mt. Gox, liquidated 24,658 bitcoin and 25,331 bitcoin cash earlier this year, according to an announcement posted on September 25, 2018.
Creditors of Mt. Gox, the defunct bitcoin exchange, have announced an update to the civil rehabilitation plan agreed upon with the platform, according to a statement published on the group’s website.
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