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Bitcoin exchange Mt. Gox files for bankruptcy protection with $64 million in liabilities

28
Feb
2014

After weeks of speculation over its financial health, the beleaguered Bitcoin exchange Mt. Gox has filed for bankruptcy protection. A company lawyer made the announcement at an impromptu news conference held at Tokyo District Court, according to The Wall Street Journal. Mt. Gox says it has ¥6.5 billion ($63.9 million) in liabilities with ¥3.84 billion ($37.7 million) of assets at present, and the company has admitted that it has lost a total of 850,000 bitcoins — worth close to $500 million. 750,000 of those belonged to customers, and 100,000 were company assets.

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