Beta

Slashdot: News for Nerds

×

Welcome to the Slashdot Beta site -- learn more here. Use the link in the footer or click here to return to the Classic version of Slashdot.

Thank you!

Before you choose to head back to the Classic look of the site, we'd appreciate it if you share your thoughts on the Beta; your feedback is what drives our ongoing development.

Beta is different and we value you taking the time to try it out. Please take a look at the changes we've made in Beta and  learn more about it. Thanks for reading, and for making the site better!

MtGox files for bankruptcy protection, confirms rumours

Sockatume (732728) writes | about 5 months ago

4

Sockatume (732728) writes "The beleaguered MtGox bitcoin exchange has officially filed for bankruptcy in Tokyo, as reported in various news sources via AFP. According to the Wall Street Journal (paywalled; see The Verge for re-reporting) Bitcoin held an impromptu press conference that addressed recent rumours. They state that they have over $60m in liabilities against just $30m in assets, and confirm the loss of over $500m worth of Bitcoins, split between customers' balances (750,000 BTC) and company assets (100,000 BTC)."

cancel ×

4 comments

Useful note (1)

Sockatume (732728) | about 5 months ago | (#46366373)

There are around 16,000,000 bitcoins in circulation, meaning that almost 5% of all Bitcoins were involved in the loss.

Why keep your BC in exchanges ? (0)

Anonymous Coward | about 5 months ago | (#46366423)

I do not understand the need for people to keep their BCs in the exchanges. We have heard plenty of horror story of exchanges that were hacked, exchanges that were hit with DDoS, exchanges that simply vanished and exchanges that, like MtGox, crumbled.

I do own BCs but I do not keep them in exchanges. Rather, I keep them in an offline chip-based wallet.

Interesting attack on Bitcoin (1)

wiredog (43288) | about 5 months ago | (#46366525)

From the AP Story [washingtonpost.com]

a weakness in the exchangeâ(TM)s systems was behind a massive loss of the virtual currency involving 750,000 bitcoins from users and 100,000 of the companyâ(TM)s own bitcoins. That would amount to about $425 million at recent prices.

The reactions of the various Japanese government officials are interesting. Essentially, there was no "theft" because Bitcoin is not a "real" currency.

Excellent link (1)

Sockatume (732728) | about 5 months ago | (#46366529)

Thanks for that, the Post's coverage goes into a lot more detail.

Check for New Comments
Slashdot Account

Need an Account?

Forgot your password?

Don't worry, we never post anything without your permission.

Submission Text Formatting Tips

We support a small subset of HTML, namely these tags:

  • b
  • i
  • p
  • br
  • a
  • ol
  • ul
  • li
  • dl
  • dt
  • dd
  • em
  • strong
  • tt
  • blockquote
  • div
  • quote
  • ecode

"ecode" can be used for code snippets, for example:

<ecode>    while(1) { do_something(); } </ecode>
Create a Slashdot Account

Loading...