BitCoin exchange bankrupt

Today there was big news on one of the oldest BitCoin exchanges, Mt.Gox. A lawyer for Mt.Gox announced that this bitcoin exchange was filing for bankruptcy protection and that it had outstanding debt of about ¥6.5 billion ($63.6 million). The exchange has been in trouble since it stopped bitcoin withdrawals in February citing technical problems that potentially made fraudulent withdrawals possible.

Investing in cryptocurrencies remains ricky, but the bankruptcy of Mt.Gox in no way signifies the end of the BitCoin. More information on other exchanges can be found in an earlier post at this blog. If you want to keep up to date on the main BitCoin developments you can visit the Coindesk website.


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