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UK company linked to laundered Bitcoin billions

March 7, 2018

By: Geoff White

A UK company has been linked to the laundering of 650,000 stolen bitcoins worth £4.5bn, a BBC Radio 4 investigation has found.

The coins were taken by hackers from Tokyo-based Bitcoin exchange Mt Gox, leaving tens of thousands of customers out of pocket.

It’s not clear who is in control of the London-based firm Always Efficient LLP.

Mt Gox operator Mark Karpeles apologised to investors and said he was co-operating with the investigation.

The FBI has charged a Russian national with laundering the stolen bitcoins.

Mt Gox matched up those who wanted to buy the crypto-currency with dollars, pounds and other international denominations with those wanting to sell bitcoins, and handled an estimated 70% of the world’s Bitcoin trade.

The exchange was originally set up to trade cards from a game set in a world of wizards, spells and monsters. When it turned its focus to crypto-currencies, it appeared to be a huge success story.

More: http://www.bbc.com/news/technology-43291026

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