DALLAS, Texas (AP) – The Mt. Gox bitcoin exchange that recently collapsed in Japan has filed for U.S. bankruptcy protection to shield itself from a lawsuit seeking to repay thousands of people whose digital currency is now missing.
The U.S. filing made in Dallas late Sunday supplements a bankruptcy petition that Mt. Gox submitted in Japan at the end of last month.
Mt. Gox was once the world’s largest exchange specializing in bitcoins, but now finds itself in a financial mess after losing about 850,000 bitcoins valued at $473 million, according to court documents.
Although it’s based in Tokyo, Mt. Gox is opening a bankruptcy case in the U.S. in an attempt to delay a recent federal lawsuit filed in Illinois on behalf of all U.S. residents burned by the exchange’s abrupt demise.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- University Of North Texas Team Helps Develop Drug-Sniffing Car
- Authorities: Texas Mom Didn’t Stop Sex Assaults On Daughter
- Rockwall “Potty Provision” Fails
- Mother Of 2 Children Found In San Antonio Child Abuse Case
- Cruz Fights For Survival Trump Eyes Indiana Knockout
- Texas City Working To Turn Sewer Water Into Tap Water
- Plano Man Killed After Reentering Burning Home To Retrieve Phone
- Allen ISD’s $60 Million Football Stadium Closed For Months
- Spring One Day, Thundersleet The Next
- North Texas Man “Crowdfunds” $90,000 Birthday Party
- PHOTOS: Your Pet Pictures