Troubled bitcoin exchange files for bankruptcy

Feb 28, 2014, 6:46 AM EST
The troubled MtGox bitcoin exchange filed for bankruptcy protection in Japan Friday after claims of a multi-million dollar theft from its digital vaults, media reports said.
Getty/AFP/File, George Frey

Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection on Friday, saying it may have lost all of its investors' virtual coins due to hacking into its faulty computer system. Chief executive Mark Karpeles, bowing in contrition and wearing a suit instead of his customary T-shirt, apologized in Japanese at a news conference for the company's collapse, blaming "a weakness in our system."
Background:
Mt. Gox in bankruptcy, says may have lost all its bitcoins to hackers [Reuters]
Mt. Gox files for bankruptcy protection [WSJ]

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