What's this? This is an unbiased just-the-facts news timeline ('newsline') about Mt. Gox, created by Newslines' contributors. Help us grow it by finding and summarising news. Learn more

Mt. Gox

Mt. Gox63 posts

Mt. Gox was one of the first Bitcoin exchanges, a place where customers could convert their local currencies into the virtual currency. The site was located in Japan and run by Mark Karpeles, a young French programmer. As Bitcoin increased in value the site experienced technical difficulties, hacking and public relations crises, culminating in the exchanges’ bankruptcy in February 2014, and the loss of hundreds of millions of dollars of users’ funds.

17 Jun, 2014

U.S. bankruptcy approved

Judgement

U.S. Bankruptcy Judge Stacey G. Jernigan accepts Mt. Gox’s  U.S. filing and recognizes Mt. Gox’s Japanese bankruptcy as the foreign main proceeding. The ruling empowers the company’s Japanese trustee to examine witnesses, gather and review evidence, and oversee assets in the U.S. She says

This is really going to be all about the customers, who make up almost all of the creditors, and trying to get them a recovery

16 Apr, 2014

‘No Prospects’ to revive exchange

Judgement

The Tokyo District Court dismisses an application for civil rehabilitation and appoints an administrator of the company’s assets in place of Karpeles.

Karpeles: There are no prospects for the restart of the business. The dismissal of the application for commencement of a civil rehabilitation procedure will create great inconvenience and concerns to our creditors for which we apologize

The administrator, lawyer Nobuaki Kobayashi, said in a separate statement that the court will probably order the start of bankruptcy proceedings. How the company is treated will be decided by taking into account factors including whether there is any candidate to buy the business, Kobayashi said. Kobayashi also said any investigation of the liability of Karpeles will be conducted as part of the bankruptcy proceedings.

What's this? This is an unbiased just-the-facts news timeline ('newsline') about Mt. Gox, created by Newslines' contributors. Help us grow it by finding and summarising news. Learn more