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Bitcoin Exchange Mt. Gox Files for Liquidation

Posted on 4.16.2014

Opting out of its initial plan to rebuild under bankruptcy protection, Bitcoin exchange Mt. Gox has filed for liquidation in a Tokyo court, citing the complexity of the process as its reason.

In Feb. 2014, Mt. Gox revealed it had lost about 850,000 Bitcoin, 200,000 of which were later recovered. The total estimated loss as a result of the well-publicized transaction bug is about $400 million.

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