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.

Will you support Vox’s explanatory journalism?

Millions turn to Vox to educate themselves, their family, and their friends about what’s happening in the world around them, and to learn about things that spark their curiosity. Financial contributions from our readers are a critical part of supporting our resource-intensive work and help us keep our journalism free for all. Please consider making a one-time contribution to Vox today.

One-Time Monthly Annual

$95/year

$120/year

$250/year

$350/year

Other

$

Yes, I'll give $120/year

Yes, I'll give $120/year

We accept credit card, Apple Pay, and Google Pay. You can also contribute via