BBA says it is investigating claims that bitcoin exchanges are offering ‘torture and extortion’ services
Posted On July 14, 2021
GOLDSTONE, Iowa (AP) The American Bar Association said Friday it is taking a look into complaints that some of its employees have been paid $5,000 for a single transaction involving a bitcoin exchange.
The Associated Press reported Friday that the association was examining complaints that employees at Mt.
Gox, the Japanese bitcoin exchange, had been paid in bitcoins and offered to sell them.
Gox was forced to shut down in February after it was discovered the firm had stored hundreds of millions of dollars of bitcoin on a server in Tokyo, the first time such an issue had been reported in the industry.
It has since announced that the account holders lost more than $600 million in bitcoins, but that it had not been hacked.
MtGox’s chief executive, Mark Karpeles, apologized to customers, saying he had been misled by his company and its staff.
Mtgox has since said it will stop accepting payments in bitcoins.