Japanese police on Saturday arrested Mark Karpeles, head of the collapsed MtGox Bitcoin exchange, over the disappearance of about $390 (£250 million) worth of the virtual currency, local media said.
The Japanese justice system is said to be pretty rigorous in its interrogation techniques. So we might actually find out what really happened.
At present I’m entirely undecided between insider fraud and gross incompetence.
All I’ve really managed to grasp about alt-coins is that every scam, fraud, mistake and unintelligibly stupid decision that anyone has ever made in a monetary or banking system has played out in that little world over the past few years. They’ve recapitaluated the accumulated human experience of millennia.