clock menu more-arrow no yes mobile

Filed under:

Bitcoin Exchange Mt. Gox Files for Bankruptcy Protection

Major bitcoin exchange Mt.Gox has lost nearly all the virtual currency held in its systems and has filed for bankruptcy protection at a Tokyo district court, lawyers for the company told a press conference Friday.

A lawyer for the embattled Japan-based company announced at a news conference at the court that the exchange was filing for Chapter 11-style protection and stated that Mt.Gox had outstanding debts of about 6.5 billion Japanese yen ($63.6 million), the Dow Jones news agency reported.

Read the rest of this post on the original site »

This article originally appeared on Recode.net.

Sign up for the newsletter Sign up for Vox Recommends

Get curated picks of the best Vox journalism to read, watch, and listen to every week, from our editors.