23 Aug '13, 8pm

US government seized $5 million from Bitcoin behemoth Mt. Gox

Mt. Gox CEO Mark Karpeles and chief marketing officer Gonzague Gay-Bouchery at their Tokyo office. Things keep looking worse for Mt. Gox, by far the largest company in the nearly four-year-old economy that has sprung up around the virtual currency Bitcoin. Back in May, federal agents seized $2.1 million from the company's account with payments processor Dwolla. According to court documents uncovered by the Bitcoin-focused blog The Genesis Block , that wasn't all. The government took an additional $2.9 million at the same time from Mt. Gox's Wells Fargo account, including $50,000 from CEO Mark Karpeles's personal account. That brings the known total of frozen funds to more than $5 million. The government seized the money after a judge found probable cause to suspect that Mt. Gox was engaged in money transmitting without a license. The seizure sets a clear precedent for Bitc...

Full article: http://www.theverge.com/2013/8/23/4651926/us-government-s...

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