joseephuss
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I haven't even gotten to the point where I fully understand bitcoins and now this kind of stuff has happened.
http://www.npr.org/blogs/thetwo-way...s-for-bankruptcy-nearly-500m-of-bitcoins-lost
MtGox Files For Bankruptcy; Nearly $500M Of Bitcoins Lost
The scope of the collapse of what once was the world's largest bitcoin exchange took shape Friday when MtGox filed for bankruptcy protection in Japan, saying it had lost track of nearly $480 million worth of the virtual currency.
"Wearing a suit instead of his customary T-shirt," , MtGox CEO Mark Karpeles "bowed in contrition and apologized in Japanese at a news conference at the Tokyo District Court, blaming his firm's collapse on a 'weakness in our system,' but predicting that bitcoin would continue to grow."
According to , MtGox says "it might have lost 750,000 of its customers' coins, essentially all of them, in a hacking attack." MtGox also lost about 100,000 of its own bitcoins.
"Mt. Gox's missing 850,000 bitcoins are worth $473 million," , "based on current prices shown on the ."
MtGox . Other major bitcoin exchanges condemned MtGox for what they said had been a "tragic violation" of its users' trust.
According to DealB%k, investors who "stashed money on the MtGox platform" have said they have little hope of recovering their funds. Still, the blog adds, the bankruptcy filing means a supervisor will be named "to develop a restructuring plan, and will also be responsible for handling any payment of claim distributions to its creditors. That process could take [from] several months to several years."
http://www.npr.org/blogs/thetwo-way...s-for-bankruptcy-nearly-500m-of-bitcoins-lost
MtGox Files For Bankruptcy; Nearly $500M Of Bitcoins Lost
The scope of the collapse of what once was the world's largest bitcoin exchange took shape Friday when MtGox filed for bankruptcy protection in Japan, saying it had lost track of nearly $480 million worth of the virtual currency.
"Wearing a suit instead of his customary T-shirt," , MtGox CEO Mark Karpeles "bowed in contrition and apologized in Japanese at a news conference at the Tokyo District Court, blaming his firm's collapse on a 'weakness in our system,' but predicting that bitcoin would continue to grow."
According to , MtGox says "it might have lost 750,000 of its customers' coins, essentially all of them, in a hacking attack." MtGox also lost about 100,000 of its own bitcoins.
"Mt. Gox's missing 850,000 bitcoins are worth $473 million," , "based on current prices shown on the ."
MtGox . Other major bitcoin exchanges condemned MtGox for what they said had been a "tragic violation" of its users' trust.
According to DealB%k, investors who "stashed money on the MtGox platform" have said they have little hope of recovering their funds. Still, the blog adds, the bankruptcy filing means a supervisor will be named "to develop a restructuring plan, and will also be responsible for handling any payment of claim distributions to its creditors. That process could take [from] several months to several years."
