*DJ Mt. Gox Lawyer: Filed For Bankruptcy Protection Y6.5B Debt - updated

[DutchBrat]

*DJ Mt. Gox Lawyer: Accepted By Tokyo District Court
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2014 04:34 ET (09:34 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.- - 04 34 AM EST 02-28-14

*DJ Mt. Gox Lawyer: Outstanding Debt Y6.5B
*DJ Mt. Gox Lawyer: Missing Bitcoin May Have Been Withdrawn Through System
*DJ Mt. Gox Lawyer: 750,000 Bitcoin Held by Clients, 100,000 Held by Mt. Gox Mostly Missing
*DJ Mt. Gox Lawyer: Mt. Gox Assets Y3.84B
*DJ Mt. Gox Lawyer: Will Cooperate With Japanese Authorities Into Investigating What Happened
*CALL CENTER WILL BE SET UP FOR MT. GOX CUSTOMERS
*MT. GOX CEO MARK KARPELES APOLOGIZES AFTER FIRM'S BANKRUPTCY

On Bloomberg, when the whole story is available I will edit

DJ Mt. Gox Files for Bankruptcy Protection





By Eleanor Warnock and Takashi Mochizuki
     TOKYO--A lawyer for Mt. Gox announced at a news conference at the Tokyo
District Court that the embattled bitcoin exchange was filing for bankruptcy
protection and that Mt. Gox had outstanding debt of about Yen6.5 billion ($63.6
million).
     The exchange has been under fire from investors since it stopped bitcoin
withdrawals in early February, citing a technical issue that potentially made
fraudulent withdrawals possible.
     On Tuesday, Mt. Gox, which at one point handled more than 80% of trades in
the virtual currency, stopped all transactions, dealing the severest blow to
the bitcoin industry yet and raised concerns about a lack of protection for
users. Several Mt. Gox investors say they have little hope of recovering their
funds, with some individual investors saying they had bitcoins valued at
hundreds of thousands of dollars in Mt. Gox.
     Atsuko Fukase contributed to this article
     Write to Eleanor Warnock at eleanor.warnock@wsj.com and Takashi Mochizuki
at takashi.mochizuki@wsj.com
 
Subscribe to WSJ: http://online.wsj.com?mod=djnwires

  (END) Dow Jones Newswires
  February 28, 2014 04:50 ET (09:50 GMT)
  Copyright (c) 2014 Dow Jones & Company, Inc.- - 04 50 AM EST 02-28-14
 
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                              Copyright (c) 2014

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[dreamspark]

Doesn't that mean some hope for people looking to glean something back from gox?

[T.Stuart]

*DJ Mt. Gox Lawyer: Accepted By Tokyo District Court
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2014 04:34 ET (09:34 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.- - 04 34 AM EST 02-28-14

*DJ Mt. Gox Lawyer: Outstanding Debt Y6.5B

On Bloomberg, when the whole story is available I will edit

Thanks! Keep us informed! 

[coastermonger]

We might have to clarify what "outstanding debt" actually means, and if it translates over to "total liabilities" or a more accurate description of the discrepancy on customer holdings there.

If true, this is drastically lower than expected, which almost makes me think the 750k BTC number was orchestrated to be ridiculously high.  /tinfoil hat

[papamoi]

is there any one who knows about japanese bankprucy laws?

[RaTTuS]

http://twitpic.com/photos/nobodyhelpme

[Buffer Overflow]

Doesn't that mean some hope for people looking to glean something back from gox?

Nope.

[T.Stuart]

We might have to clarify what "outstanding debt" actually means, and if it translates over to "total liabilities" or a more accurate description of the discrepancy on customer holdings there.

If true, this is drastically lower than expected, which almost makes me think the 750k BTC number was orchestrated to be ridiculously high.  /tinfoil hat

Remember the crisis document said 50% of the bailout funds needed had been acquired... Perhaps that's what this means?

[DutchBrat]

*DJ Mt. Gox Lawyer: 750,000 Bitcoin Held by Clients, 100,000 Held by Mt. Gox Mostly Missing
*DJ Mt. Gox Lawyer: Missing Bitcoin May Have Been Withdrawn Through System

[DanielVG]

http://twitpic.com/photos/nobodyhelpme

THis is new MEME material.



photoshoppers, knock yourself out.

[nmersulypnem]

http://twitpic.com/photos/nobodyhelpme

THis is new MEME material.



photoshoppers, knock yourself out.

ALL YOUR BITCOIN ARE BELONG TO US.

[DutchBrat]

*DJ Mt. Gox Lawyer: Accepted By Tokyo District Court
(MORE TO FOLLOW) Dow Jones Newswires
February 28, 2014 04:34 ET (09:34 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.- - 04 34 AM EST 02-28-14

*DJ Mt. Gox Lawyer: Outstanding Debt Y6.5B
*DJ Mt. Gox Lawyer: Missing Bitcoin May Have Been Withdrawn Through System
*DJ Mt. Gox Lawyer: 750,000 Bitcoin Held by Clients, 100,000 Held by Mt. Gox Mostly Missing
*DJ Mt. Gox Lawyer: Mt. Gox Assets Y3.84B
*DJ Mt. Gox Lawyer: Will Cooperate With Japanese Authorities Into Investigating What Happened
*CALL CENTER WILL BE SET UP FOR MT. GOX CUSTOMERS

On Bloomberg, when the whole story is available I will edit

DJ Mt. Gox Files for Bankruptcy Protection





By Eleanor Warnock and Takashi Mochizuki
     TOKYO--A lawyer for Mt. Gox announced at a news conference at the Tokyo
District Court that the embattled bitcoin exchange was filing for bankruptcy
protection and that Mt. Gox had outstanding debt of about Yen6.5 billion ($63.6
million).
     The exchange has been under fire from investors since it stopped bitcoin
withdrawals in early February, citing a technical issue that potentially made
fraudulent withdrawals possible.
     On Tuesday, Mt. Gox, which at one point handled more than 80% of trades in
the virtual currency, stopped all transactions, dealing the severest blow to
the bitcoin industry yet and raised concerns about a lack of protection for
users. Several Mt. Gox investors say they have little hope of recovering their
funds, with some individual investors saying they had bitcoins valued at
hundreds of thousands of dollars in Mt. Gox.
     Atsuko Fukase contributed to this article
     Write to Eleanor Warnock at eleanor.warnock@wsj.com and Takashi Mochizuki
at takashi.mochizuki@wsj.com
 
Subscribe to WSJ: http://online.wsj.com?mod=djnwires

  (END) Dow Jones Newswires
  February 28, 2014 04:50 ET (09:50 GMT)
  Copyright (c) 2014 Dow Jones & Company, Inc.- - 04 50 AM EST 02-28-14
 
-----------------------------====================------------------------------
                              Copyright (c) 2014

[T.Stuart]

Is this simply a statement or are any questions being asked?

[DutchBrat]

I think it is just a statement

*MT. GOX CEO MARK KARPELES APOLOGIZES AFTER FIRM'S BANKRUPTCY

Karpeles is now speaking in Bankruptcy court

[myself]

http://www.reddit.com/r/Bitcoin/comments/1z62xt/mt_gox_lawyer_says_65_billion_yen_debt_65_million/   <-- got deleted

[T.Stuart]

I think it is just a statement

*MT. GOX CEO MARK KARPELES APOLOGIZES AFTER FIRM'S BANKRUPTCY

Karpeles is now speaking in Bankruptcy court

Thanks for your real-time updates!!

[BigBoy89]

thanks for updates
i'm curious about what happening then after investigation

[thelema93]

[repentance]

The company's lawyers added that Mt.Gox may have lost nearly of its virtual currency, leading to a black hole of 2.8 billion Japanese yen, local media reported.


The company said there were 127,000 creditors in the bankruptcy and only 0.8 percent were Japanese. Representatives added that it opted for a transparent procedure due to public outcry and will aid authorities in finding out what happened. It's liquid liabilities totaled 6.501 billion Japanese yen with its total assets being 3.842 billion Japanese yen, according to Reuters. Dow Jones added that Mt.Gox believed 750,000 of customers' coins may have been lost and 100,000 of its own, meaning a loss of around $500 million at current market prices.

www.cnbc.com/id/101455170

[samson]

I want to know where every single one of those missing 750k Bitcoin have gone to.

MtGox should publish full details of all their compromised cold storage wallet addresses so we can see what happened.

Right now for all I know Mark simply decided to keep all the coins for himself - he needs to prove he didn't do this.