Bitcoin tycoon arrested for allegedly transferring users' Bitcoin to his own name for cryptocurrency trading

Although Bitcoin has become popular, many people are still confused about what Bitcoin is. Bitcoin is a P2P digital currency. Bitcoin is not issued by a specific monetary institution, but is generated through network calculations, so many people think it is dangerous. Recently, a virtual currency Bitcoin tycoon was arrested, suspected of privately adding funds to his Bitcoin account, or was involved in the sensational Bitcoin loss case.

Bitcoin tycoon arrested for allegedly transferring users' Bitcoin to his own name for cryptocurrency trading

Although Bitcoin has become popular, many people are still confused about what Bitcoin is. Bitcoin is a P2P digital currency. Bitcoin is not issued by a specific monetary institution, but is generated through network calculations, so many people think it is dangerous. Recently, a virtual currency Bitcoin tycoon was arrested, suspected of privately adding funds to his Bitcoin account, or was involved in the sensational Bitcoin loss case.

Mark Kalple, CEO of Mt.Gox, the largest Bitcoin trading platform, was recently arrested by Japanese police. The police suspected Kalple of a series of commercial frauds. The police said that Kalple secretly sneaked into the Mt.Gox system in February 2013 to add funds to his account, adding $1 million to his cash account. In addition, Kalple is likely to be involved in the Bitcoin loss case, and may have transferred Bitcoin from user accounts to his own name many times for currency speculation.