Another View: Shady deals in virtual currency ‘bitcoin’ must be exposed / 08/05/15, 12:08 PM EDT

The disappearance of a huge sum of the virtual currency bitcoin and cash from the Mt. Gox trading site for bitcoin has developed into a criminal case.

Mark Karpeles, president of Mt. Gox, which operates the Internet site, was arrested by the Metropolitan Police Department on suspicion of manipulating data in theTRADING SYSTEM to inflate the cash balance of his own personal account. The president denied the charge.

Bitcoins worth more than 20 billion yen ($161 million) at current values plus about 2.8 billion yen in cash disappeared from the Mt. Gox computer system and Mt. Gox went bankrupt in February last year. Creditors around the world who suffered losses number about 127,000. We hope the MPD will speed up its efforts to elucidate a full picture of the incident.

The president claimed that the bitcoins and cash were stolen by hackers’ cyber-attacks.

However, according to the MPD analysis, the amount of bitcoins that disappeared in cyber-attacks was very small, while unlawful data manipulation in theTRADING SYSTEM accounted for the majority of the causes.