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AFTER FILING FOR bankruptcy in Japan, troubled bitcoin exchange MtGox has filed for bankruptcy protection in the US.
The company filed for Chapter 15 bankruptcy protection yesterday, which is designed to protect insolvent companies that operate internationally.
It also temporarily suspends US legal action against the company as it works out how the theft of 850,000 bitcoin happened in the first place.
The company said that without US bankruptcy protection, it would spend “substantial funds” defending itself against US lawsuits. According to Forbes, the company is currently defending itself against at least two of them.
Under the Chapter 15 filing, Japan will still be the primary place for bankruptcy procedures, but it allows the US to work with it and other relevant parties in solving the case.
The company faced further trouble after a group of hackers allegedly gained access to the personal blog and Reddit profile of the company’s CEO Mark Karpeles.
In it they claimed that Mt Gox still has the bitcoin it said was stolen after finding a file which said the company had a balance of 951,116 bitcoin.
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Can’t they just sell some bitcoins to cover the losses
No because they claim all BTC have been stolen, but they got hacked and database leak says otherwise
It’s all fugazi
My advice if you have a few bob spare is invest one weekends drink money in lite coins. Created by Google engineers its an alternative to bit coin and a couple of years behind it. When you consider a bit coin was what a few euro and jumped up to 700 or so at one point. A lite coin is about 11 euro a coin. If anything you cash out in months with what you invest I do see it climbing.
You could mine then but jesus its painful and even if you have best pc its not worth it
I got 2,200 xrp free – ripple. Waiting to see what happens. Sat on my free mined bitcoins for a couple of years thinking they would never be worth anything, how wrong I was :)
Thanks. Going to look into that.
Do check it out :) mining a bit coin your talking years to wsrn one coin in which case you fried a few gpu’s and a esb bill of small country. They are expensive to but also hundred for one.
That’s why I think lite coins could work. Would you really miss €100 next year if it falls apart but could get nice little return. There is few sites where you can see how much bit and lite coins ate trafing against $£€
@eye c u depends on the hashing power you have. If you have a knc 2 terrahash miner you will mine a couple of bitcoins a year at current difficulty. Scrypt based coins like litecoin/dogecoin are cheaper for the average person to get involved in. BTW you never told us how you got those scars?
From dancing with the devil in the pale moonlight. I told you that last week.
The sooner this renegade stops dragging out its 15 minutes the better it’ll be for Bitcoin as a whole!
You just have to love the word “allegedly”!
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