Tokyo Police launch investigation into missing MtGox bitcoins

Wall Street Journal reports that the Tokyo Police Department has officially launched an investigation into MtGox's missing bitcoins. Former CEO Mark Karpeles had requested police investigation in March, shortly after the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term collapsed.

The coins' whereabouts are unknown, but foul play is suspected. They suspect 27,000 coins were stolen through unauthorized computer access. A police spokesman said:

“We decided to launch an investigation as we concluded this case could be connected to criminal activity.”

Court-appointed trustee Nobuaki Kobayashi earlier this week extended his deadline for a report from the investigation, from November to May. A "considerable amount of time" may be necessary due to the complexity of the case. The outcome of the investigation may help determine the best direction for the bankruptcy proceedings.

Creditors have criticized Kobayashi for relying on a police investigation. They argue that computer security and forensics experts are more fitting for this case.

Creditors should not set their hopes too high. The decentralized nature of the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term network means that although all transactions are viewable in some form, tracing the coins' exact travels is nearly impossible. Even they can be traced, authorities would have a tough time enforcing the coins' return.