Bitcoin News and Price Overview: Russian Military Intelligence Officers Used Bitcoin to Fund Election Hack Efforts. Tuesday, July 17
Important Bitcoin News
Mt Gox Founder Is Happy He’s Not Going To Be A Billionaire
Mark Karpelès, who presided over Mt Gox, the then biggest cryptocurrency exchange that was hacked in 2014 said that it was a relief to him hearing that the leftover coins of the hacked exchange will not be handed over to him.
The Japanese, bankruptcy law has an odd clause that could have made him the owner of the exchange’s assets after the company’s customers have been paid. Karpelès said that many people were unhappy with him, especially with the prospect of benefitting from the misfortune of presiding over the losses of others.
He said that if that had happened, he would have been one of the most hated people on earth. Karpelès is now on trial in Tokyo for manipulating records and embezzlement. He was detained for a year but was released on bail, even though he is not permitted out of Japan. The change that resulted in the non-implementation of the bankruptcy law came about after customers petitioned the Tokyo District Court to change from bankruptcy to civil rehabilitation in which they can be reimbursed in bitcoins.
Bitcoin Hashrate Increasing Beyond its Price
Bitcoin mining was coded to increase in difficulty over time. The hashrate required to mine bitcoin is the computing power necessary to confirm a transaction and add a block to the chain. Bloomberg recently reported that the coin has a good outlook judging from the increasing hashrate.
Russian Military Intelligence Officers Used Bitcoin to Fund Election Hack Efforts
Rod Rosenstein, the US deputy attorney general stated that the 2016 presidential election hack effort of Russian intelligence officers was funded with bitcoins. The indicted officers reportedly used bitcoins including some mined through their own efforts to purchase domains and other services used in their scheme. This includes gaining access to the systems of computers belonging to the Democratic Party and those of the presidential candidate, Hillary Clinton.
BTC/USD Price Chart, Tuesday July 17th:
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