MtGox Bitcoin exchange ‘files for bankruptcy protection’

MtGox Bitcoin exchange 'files for bankruptcy protection'

The troubled MtGox bitcoin exchange filed for bankruptcy protection in Japan Friday after claims of a multi-million dollar theft from its digital vaults, media reports said.

The Tokyo District Court accepted the application from MtGox, Jiji Press and public broadcaster NHK said.

The action was taken after US prosecutors reportedly served a subpoena on the company.

The website of Tokyo-based MtGox went dark on Tuesday, possibly heralding huge losses for investors, and sending ripples of alarm throughout the global community of digital currency adopters.

Source: Agence France Presse

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