Despite numerous security concerns throughout the first year of operation, Mt. Gox became the leading cryptocurrency exchange in the world by the beginning of 2013 trading an average of 150,000 BTC per day. Later, Mt.Gox really began to be subjected to reprisals in late 2013 and early 2014, as anti-money laundering laws were tightened internationally. Signs that the platform is drowning began to appear in 2014, when many customers were faced with an extraordinary waiting time for withdrawals, until the withdrawals were finally stopped and bankruptcy was declared. Karpeles claimed that the exchange lost about 850,000 BTC of funds from customers and companies due to hackers, which is the equivalent of almost $ 500 million.
Karpeles was arrested in August 2015 for allegedly falsifying financial data and embezzlement. However, he did not plead guilty to these charges during the trial. Initially, he was threatened with 10 years in prison, but now he has been acquitted on almost all points of the criminal case, except for one – falsification of data. Karpeles was given only a suspended sentence, a little not traditional for our countries. He was sentenced to 2.5 years, but given a deferral of 4 years, that is, if within four years he is no longer charged with anything, he will avoid a prison term. Escaped with a slight fright, so to speak.
In 2018, when the price of bitcoin began to creep down, the remaining funds from Mt.Gox were sold in batches to pay off creditors. And the main person involved Karpeles most likely will no longer come up in the near future, until everything finally settles down.