Digital currency exchange Mt. Gox files for U.S. bankruptcy protection

The company claims $63.9 million in liabilities and $37.7 million in assets

Following a data breach that claimed roughly seven percent of the world’s bitcoins from its servers, digital currency exchange Mt. Gox has filed for U.S. bankruptcy protection.

In the federal court filing, Mt. Gox CEO Mark Karpeles claimed that the company held approximately $63.9 million in liabilities and approximately $37.7 million in assets following the breach. As a result, Mt. Gox can file for bankruptcy protection under Chapter 15 of the bankruptcy code, which provides help to parties with interests “involving more than one country.”

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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