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Mt. Gox

Mt. Gox countersues bitcoin incubator CoinLab for $5.5m in damages

16 Sep, 2013

Mt. Gox and bitcoin business incubator, Coinlab had formed a business partnership last November, giving  CoinLab the exclusive license to market Mt. Gox’s services in North America. But CoinLab had filed a complaint on May 2, claiming $75million damages, alleging that Mt. Gox had withheld information it needed to market to customers, instead continuing to sell into North America itself. In response, Mt. Gox alleges that CoinLab was not able to operate lawfully as its partner in the US, the reason for the $5.5m damages suit.