Mark Karpelès, one of the co-founders of the failed Tokyo exchange Mt. Gox, says a scientific calculator he bought in jail was sufficient to prepare a defense. His recollection comes after a judge denied Sam Bankman-Fried’s request to leave jail to prepare a defense ahead of his October trial.
The Mt. Gox co-founder said he used a scientific calculator and basic stationery to work on a defense against allegations of embezzlement. He said at the time, the scientific calculator was the preferred tool for accounting-related crimes and helped him to prove the company earned more than it spent.
Karpelès Used a Calculator and Basic Stationery to Prepare Defense
He said he was cleared of all embezzlement charges “thanks to that little calculator” and the work of his defense. Crypto industry veteran Jed McCaleb created the Bitcoin (BTC) exchange Mt. Gox in 2010 and transferred the website to Karpelès in 2011.
“I spent around $120 to buy the best calculator they had… I managed to find some 5.5 million USD worth of revenue that wasn’t accounted for.
“The company made more than what was spent, and using this as a base, my lawyer pushed the prosecution to straighten up their act,” Karpelès said.
Being the largest Bitcoin exchange at the time, Mt. Gox was frequently the target of hackers. In February 2014, it suspended withdrawals after noticing suspicious wallet activity and later announced it lost several hundred thousand BTC.
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Author: David Thomas
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