The arrest of Mt Gox CEO Mark Karpeles on Saturday is the latest twist in a lengthy plot surrounding the now-defunct bitcoin exchange.

Arrested in Japan over allegations he manipulated Mt Gox's volumes prior to its demise in 2014, Karpeles' detention has captivated worldwide attention.

Credited with being one of the world's first bitcoin exchanges – accounting for up to 80% of trading volume during its peak – Mt Gox first launched in the summer of 2010 and suspended operations in February 2014 amid heightened speculation about potential untoward activity.