Mt Gox Files for Bankruptcy
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(Updated - February 28, 2014 7:19 AM EST)
Bitcoin exchange Mt Gox has filed for bankruptcy protection, its lawyer announced at a news conference in Japan Friday.
The troubled exchange, which earlier in the week shut off its exchange and website, has listed outstanding debt of ¥6.5 billion, or $63.6 million.
The company also admitted to losing 850,000 bitcoin (750,000 for customers and 100,000 for Mt Gox), which is higher than the 744,408 bitcoin said to be lost to due to malleability-related theft revealed in a 'Crisis Strategy Draft' earlier in the week.
Mt. Gox CEO Mark Karpeles bowed in the Japanese tradition of disgrace when revealing the news.
Bitcoin prices on BTC-e last traded at $548, or down 3% in the past 12 hours.
Bitcoin exchange Mt Gox has filed for bankruptcy protection, its lawyer announced at a news conference in Japan Friday.
The troubled exchange, which earlier in the week shut off its exchange and website, has listed outstanding debt of ¥6.5 billion, or $63.6 million.
The company also admitted to losing 850,000 bitcoin (750,000 for customers and 100,000 for Mt Gox), which is higher than the 744,408 bitcoin said to be lost to due to malleability-related theft revealed in a 'Crisis Strategy Draft' earlier in the week.
Mt. Gox CEO Mark Karpeles bowed in the Japanese tradition of disgrace when revealing the news.
Bitcoin prices on BTC-e last traded at $548, or down 3% in the past 12 hours.
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