Bitcoin exchange looks into criminal complaint

By The Associated Press | Posted - Mar. 3, 2014 at 1:11 a.m.



This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

TOKYO (AP) — The Tokyo bitcoin exchange that filed for bankruptcy protection blamed theft through hacking for its losses and said it was looking into a criminal complaint.

Mt. Gox's chief Mark Karpeles posted the announcement on the company website Monday, outlining the events that resulted in insolvency and saying there was "high probability" theft was behind the disappearance of bitcoins.

He said a huge number of transactions must be investigated, but efforts are underway to bring Mt. Gox back into business to repay its debts.

Karpeles has said 750,000 bitcoins from users and another 100,000 belonging to the company disappeared.

Mt. Gox was unplugged last week as rumors of its insolvency swirled, adding to fears about bitcoins overall.

Karpeles said illegal access in early February abused a bug in the computer system.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast