MtGox Files For Bankruptcy Protection

Posted by Soulskill on Friday February 28, 2014 @01:50AM from the all-about-the-bitjamins dept.

Sockatume writes "The beleaguered MtGox bitcoin exchange has officially filed for bankruptcy protection in Tokyo. According to the Wall Street Journal, Bitcoin held an impromptu press conference that addressed recent rumors. They state that they have over $60m in liabilities against just $30m in assets, and confirm the loss of over $500m worth of Bitcoins, split between customers' balances (750,000 BTC) and company assets (100,000 BTC). Owner Mark Karpeles said, 'There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble.'"

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Legitimization by mkg · 2014-02-28 01:55 · Score: 5, Funny

This debacle should only help legitimize bitcoin, as corruption surrounding the currency is now a public matter.
Re:Ha ha by Anonymous Coward · 2014-02-28 01:56 · Score: 5, Funny

A little too soon son...
As far as I know, the US dollar hasn't died yet.
Re:Ha ha by BasilBrush · 2014-02-28 02:54 · Score: 5, Funny

Always a pleasure to say "I told you so" to people with objectionable belief systems.