Mt.Gox seeks bankruptcy after $463 million Bitcoin loss
“The company believes there is a high possibility that the Bitcoins were stolen,” Mt.Gox said in a statement. “It is considering filing a criminal complaint.”
Mt.Gox, which had revenue of 135 million yen ($1.33 million) in this year, applied Friday in Tokyo District Court for bankruptcy protection with debt exceeding assets by 2.7 billion yen, the exchange said in a statement.
“We are in a situation close to what you would call Chapter 11 in the U.S.,” Mt.Gox Chief Executive Officer Mark Karpeles said in an e-mail.
Andreas Antonopoulos, the chief security officer for Blockchain.info, a company that hosts online digital wallets for Bitcoin storage, said Mt.Gox probably mismanaged its offline Bitcoins.
To draw on them, a company would have to remove data from the computer without bringing it online — using a flash drive, for example — and combine it with the online, or “hot” wallets.
Bitcoin was introduced in 2008 by a programmer or group of programmers under the name Satoshi Nakamoto and has since gained traction with merchants around the world. The digital currency has no central issuing authority, and uses a public ledger to verify transactions.
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