Defunct bitcoin exchange Mt. Gox has given up plans to rebuild under bankruptcy protection and has asked a Tokyo court to allow it to be liquidated, the Wall Street Journal reported, citing people familiar with the situation.<\/p>\n
These people cited the complexity of the procedure and the lack of realistic rehabilitation plans for the Tokyo-based exchange as reasons for the move, the newspaper said.<\/p>\n
Mt. Gox, once the world’s biggest bitcoin exchange, filed for bankruptcy protection in Japan last month, saying it may have lost some 850,000 bitcoins – worth around $454 million at today’s rates – due to hacking into its computer system. It has since said it found 200,000 of those bitcoins.<\/p>\n
Mt. Gox’s lawyers declined to comment on the matter.<\/p>\n
Mt. Gox CEO Mark Karpeles won’t travel to the United States to answer questions about the bitcoin exchange’s U.S. bankruptcy case, Mt. Gox lawyers told a federal judge this week.<\/p>\n
Bitcoin world shaken by Mt.Gox crash<\/a><\/strong><\/p>\n Blow to Bitcoin as Mt.Gox shuts down<\/a><\/strong><\/p>\n