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TOKYO (Reuters) – Mt. Gox, once the world’s biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system.

The collapse caps a tumultuous few weeks in which the company has remained virtually silent after halting trades of the crypto-currency, shaking the nascent but burgeoning bitcoin community.

http://money.msn.com/business-news/article.aspx?feed=OBR&date=20140228&id=17393259

Commentary by The Secular Jurist:  Beware of Wall Street plutocrats bearing ponzi scheme gifts!

5 thoughts on “Bitcoin exchange Mt. Gox files for bankruptcy, hit with lawsuit

    • The entire Bitcoin phenomenon is a mystery. The pseudonymous individual or group Satoshi Nakamoto started it in 2008-09 during the worldwide financial crisis. Who this person(s) is, and where the development funds came from, are facts unknown to the general public. My guess is that this Bitcoin scam has been perpetrated by elements within the global financial elite spearheaded by Wall Street. But, your guess is as good as mine.

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      • I would not be surprised if it turns out that SN is actually a code name of an organisation such as the NSA. Unlike what some people believe, bitcoins are not an anonymous means of exchange, once you have a bitcoin, you can trace the previous possessors of it. But nevertheless, you’re right my guess is as good as yours.

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  1. And to think people were placing their hopes on this bitcoin mumbo-jumbo to resolve problems in the economic system somehow. End the Fed and replace it with a public utility bank under the control of the people, not the banksters.

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