Mt.Gox Ceo Found Guilty Over Data Manipulation, 18 Year Old Japanese Hacker Admits To Allegations, Tron Founder Airdrops $20 Million And More— The Crypto2Cash Chronicle
Here’s what we’re reading in the Crypto2Cash Office on this Friday
Mt.Gox CEO found guilty over data manipulation
Mark Kapeles, Ex-CEO of the now defunct Mt.Gox exchange, has been sentenced by the Tokyo District Court. He has been found guilty of record tampering and data manipulation and received a suspended jail sentence of two and a half years. He was found not guilty of embezzlement. Yuji Nakamura, tech reporter at Bloomberg made the following statement about the verdict:
(Source: Bitcoin.com)
18 year old Japanese hacker admits to allegations
An 18 year old Japanese hacker, whose identity is being anonymous due to Japanese minor laws, has been referred to prosecutors in the City of Utsunomiya. He has admitted to stealing around 15 million yen ($134,196) in cryptocurrency from 7,700 users of exchange Monappy. The hacker submitted multiple transfer requests at the same time and was able to crash the system and breach security. Cryptocurrency hacks remain a big problem in Japan with over 7000 cases of suspected hacks tied to crypto in 2018 alone.
(Source: Cointelegraph)
Tron founder airdrops $20 million
Justin Sun, founder of Tron, has once again turned all eyes on him with a very unconventional promise. The controversial Entrepreneur posted a $20 million giveaway on his twitter, while also adding a free Tesla. The announcement was made in celebration of the acquisition of BitTorrent and the partnership with Tether. To enter, participants only need to retweet the post. Sun’s aggressive marketing has quickly made him one of crypto’s most recognizable faces, noting around 1 million followers on Twitter. However he also made a lot of enemies, by for example taking jabs at Vitalik Buterin, founder of Ethereum.
(Source: Cryptoslate)
SEC chairman confirms Ethereum is not a security
US Securities and Exchange Commission Chairman, Jay Clayton, has confirmed that Ethereum is not a security. In a report from the Division of Corporate Finace he said the following:
“If the network on which the token or coin is to function is sufficiently decentralized then it is not subject to securities law.
This is a positive step forward for the crypto industry, as any indications to future regulations bring more clarity to the space and enable innovators to prepare for them.
(Source: Valuewalk)
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