Bitcoin or Bit Con: $730 Million Bitcoin Heist May Have Been Inside Job
As more and more online gambling websites mull over the anonymous digital currency bitcoin, there appears to be good reason why said companies have had reservations up to this point.
Business Insider in the UK reports that Japanese authorities are investigating whether a $730 million heist this past year could have been an inside job.
The investigation revolves around the now defunct and once largest bitcoin exchanges, Japanese-based Mt.Gox and its CEO Mark Karpelès.
From Business Insider UK:
The majority of the missing Bitcoin was never found, however. 200,000 bitcoin was found in one of Mt. Gox's old accounts, but most customers still lost out. Karpelès has refused to travel to the US to face charges, meaning that the Japanese police investigation could be the last hope for Mt. Gox customers.
Now, it looks like the police investigation is turning its focus onto people involved with Mt. Gox, not vulnerabilities in Bitcoin or hackers from outside the company. The Japanese newspaper report cites sources close to the investigation who claim that someone involved with Mt. Gox may have transferred Bitcoin around the exchange, repeating the process and earning a profit margin.
Americas Cardroom Now Proudly Accepts Bitcoin
Sources close to the police investigators claim that only 1% of the Bitcoin ever left Mt. Gox as a result of a hack, with an overwhelming amount staying inside the company, Business Insider added.
The cyber currency trading may be down but it’s also mostly free of the crazy fluctuations seen prior to Mt.Gox bankruptcy filing last March. It’s also being embraced by more and more mainstream enterprises.
CNN’s Morgan Spurlock is set to air a one-hour show dedicated exclusively to bitcoin in the coming weeks.
- Aaron Goldstein, Gambling911.com
