Mark Carpeles doesn't plead guilty to embezzlement

According to the prosecutors, former CEO of Mt Gox spend millions of Yeans on a canopy bed
11 July 2017   1067
Bitcoin

So I am gonna try and build one using Rails.

Founder of once largest cryptocoin exchange denied the accusations of embezzlement of 850 000 BTC. This is reported by the JapanTimes. 

Trial had began at Tuesday at Tokyo District Court. Mark Karpeles, the 32-year-old French-born CEO of the now-bankrupt exchange, assures that the loses was coused by the hackers attack. 

He pleaded not guilty to both data manipulation and the embezzlement of a total of ¥341 million of customers’ money between September and December of 2013.

Karpeles swore in Japanese that he is not guilty. Additionally, he offered his "sincere apology for causing inconvenience to many clients with the bankruptcy of Mt. Gox". He also added that data manipulation was part of his company’s regular business operations.

The main reason for the Bitcoins’ disappearance was an external hacking attack.
 

Mark Karpeles
MtGox, founder

Prosecutors argued in their opening statement that Mark managed the company assets and money entrusted by the company’s clients in the same bank account, and had failed to respond to requests by company associates to separate them.

According to the prosecutors, 315 000 000 Yens were spent on 3-D printer business purchase and 6 000 000 Yens were spend on the purchase of a canopy bed for his personal use.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   67

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.