Tokyo bitcoin exchange files for bankruptcy

0

TOKYO (AP) — The Mt. Gox bitcoin exchange in Tokyo filed for
bankruptcy protection, acknowledging that a significant amount of the
virtual currency had gone missing.
The exchange’s CEO Mark Karpeles appeared before Japanese TV news cameras Friday, bowing deeply for
several minutes.
He said a weakness in the exchange’s systems was behind the massive loss of the virtual currency.
Speaking in Japanese at a Tokyo court, he apologized for the troubles he had caused so many people.
Kyodo News said debts at Mt. Gox totaled more than 6.5 billion yen ($65 million), surpassing its assets.

The
exchange’s unplugging this week drew renewed regulatory attention to a
currency created in 2009 as a way to make transactions across borders
without third parties such as banks.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
TOKYO (AP) — The Mt. Gox bitcoin exchange in Tokyo filed for
bankruptcy protection, acknowledging that a significant amount of the
virtual currency had gone missing.
The exchange’s CEO Mark Karpeles appeared before Japanese TV news cameras Friday, bowing deeply for
several minutes.
He said a weakness in the exchange’s systems was behind the massive loss of the virtual currency.
Speaking in Japanese at a Tokyo court, he apologized for the troubles he had caused so many people.
Kyodo News said debts at Mt. Gox totaled more than 6.5 billion yen ($65 million), surpassing its assets.

The
exchange’s unplugging this week drew renewed regulatory attention to a
currency created in 2009 as a way to make transactions across borders
without third parties such as banks.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

No posts to display