Subscribe Register Login

Wednesday, August 20, 2014, 5:27 p.m.
Top Picks - Capture Arkansas

Tokyo bitcoin exchange Mt. Gox files for bankruptcy

By The Associated Press

This article was published February 28, 2014 at 8:05 a.m.

TOKYO — The Mt. Gox bitcoin exchange in Tokyo filed for bankruptcy protection Friday and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for.

Exchange CEO Mark Karpeles appeared before Japanese TV news cameras, bowing deeply. He said a weakness in the exchange's systems was behind a loss of the virtual currency involving 750,000 bitcoins from users and 100,000 of the company's own bitcoins. That would amount to about $425 million at recent prices.

The online exchange's unplugging earlier this week and accusations it had suffered a catastrophic theft have drawn renewed regulatory attention to a currency created in 2009 as a way to make transactions across borders without third parties such as banks.

It remains unclear whether the missing bitcoins were stolen, voided by technological flaws or both.

Comments on: Tokyo bitcoin exchange Mt. Gox files for bankruptcy

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Referencing speciali

    stResponsible for verifying professional work history for Re...
    NORTH LITTLE ROCK, AR

  • Dump truck drivers

    wanted exp DumpTruck Drivers Dozer/Trackhoe Operators with e...
    LITTLE ROCK, AR

  • Sales reps

    fairfield bay, batesville, conway, russellville area - base...
    Conway, AR

  • Driver trainees

    truck drivertrainees needed!Learn to drive forStevens Transp...
    LITTLE ROCK, AR

  • Retail store mgr

    store managerretail Tobacco Store north little rockresponsib...
    FORREST CITY, AR

Search 882 jobs >

Top Picks - Capture Arkansas
Arkansas Online