Bitcoin Exchange MtGox Files For Bankruptcy

Just a few days after BitCoin exchange, MtGox has gone offline, the company has filed for bankruptcy protection. Their claim has been approved by a district court in Tokyo. At the court hearing MtGox stated they had outstanding debts of about R67.9 million.

MtGox lawyers reportedly applied for protection after US regulators filed a subpoena against them. MtGox was in the news earlier for shutting down after 744,000 Bitcoins were stolen due to a loophole in security. At current exchange rates that would be an estimated R3.7 billion.

The MtGox shut down has prompted Bitcoin traders to picket outside the exchange’s offices.

[ Source : BBC ]

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