Bitcoin Exchange MtGox files for bankruptcy

Once the world’s largest Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, MtGox has officially filed for bankruptcy in Japan this last Friday.

The news of the exchange filing for bankruptcy follows the news of malware attacking MtGox’s securities, resulting in 850,000 BTC missing. A release by MtGox claims “The Company believes there is a high possibility that the bitcoins were stolen”.

MtGox halted withdrawals earlier in February, and ceased operations this last Tuesday, February 25^th 2014. A day later MtGox made an official statement mentioning CEO Mark Karpeles is working on rectifying the matter in order to return funds and Bitcoins to its users. The message left on MtGox.com was bumped down over the weekend with a new message in both Japanese and English. The message states more information will be made available tomorrow, March 3^rd, and that a call center was established for user inquires.

“To anyone concerned

Mark Karpeles Representative Director MtGox Co., Ltd. Shibuya 2-11-5

Shibuya-ku, Tokyo

ANNOUNCEMENT REGARDING AN APPLICATION FOR COMMENCEMENT OF A PROCEDURE OF CIVIL REHABILITATION

An overview of the situation should be published here shortly (probably on March 3, 2014 (Japan time)).

Contact information

A call center has been established to respond to all inquiries. The call center is planned to start on March 3, 2014. All inquiries to MtGox Co., Ltd. should be made to the following telephone number:

Telephone number +81 3-4588-3921 Working hours Monday to Friday 10am to 5pm (Japan time)

Please refrain from contacting the office of the supervisor/investigator.”

_The translated message left on MtGox.com.

We will have more on this matter tomorrow as more information is made available.

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