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Cryptocurrencies

Collapsed crypto exchange CEO warns 'structural risks' remain

Karpeles readies market ratings venture as Mt. Gox saga nears end

Mark Karpeles, former CEO of cryptocurrency exchange Mt. Gox, said crypto technology must advance in order to stymie hackers. (Source photos by Tsubasa Suruga and Reuters)

TOKYO -- Mark Karpeles, former CEO of Tokyo-based cryptocurrency exchange Mt. Gox, said lack of investment in security has left the industry vulnerable to attacks, even though eight years have passed since a high-profile bitcoin theft collapsed his exchange.

Two of the biggest crypto heists on record took place over the past year. One of them was revealed last week: More than $600 million worth of altcoins stolen from a network tied to the popular crypto game Axie Infinity.

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