Mt Gox files for US bankruptcy protection

Monday 10 March 2014 18.28
Mt Gox filed for bankruptcy in Japan last month after it said it may have lost 750,000 of its customers' bitcoins
Mt Gox filed for bankruptcy in Japan last month after it said it may have lost 750,000 of its customers' bitcoins

Mt Gox, once the world's largest bitcoin exchange, filed for US bankruptcy in Dallas over the weekend.

The move will temporarily put US legal action on hold against the Japanese company.

The company said without US bankruptcy protection it would spend substantial funds defending itself against a US lawsuit seeking class action status that was filed in Chicago federal court. 

Mt Gox filed for bankruptcy in Japan in February after it said it may have lost 750,000 of its customers' bitcoins.