Japanese police have arrested Mark Karpeles, head of the collapsed MtGox Bitcoin exchange, over the disappearance of about $390m worth of the virtual currency.
The global virtual currency community was shaken by the closure of MtGox, which froze withdrawals in February 2014 because of what the firm said was a bug in the software underpinning Bitcoin that allowed hackers to pilfer them.
Karpeles is suspected of having accessed the exchange's computer system to falsify data on its outstanding balance, Kyodo News and public broadcaster NHK said on Saturday.
Police did not immediately confirm Karpeles' arrest but local television footage showed authorities taking him into custody.
- See more at: http://duketunde..com/2015/08/japan-arrests-mtgox-bitcoin-head-over.html?m=0