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$473 Million Lost In Online Currency Scandal

One of the largest businesses that allowed people buy the online currency Bitcoin is filing for bankruptcy protection. The collapse means customers have almost certainly lost nearly half a billion US dollars in "real money." Mt Gox is a Tokyo-based ... business founded in 2009 as a trading card exchange (Source: ). It has recently filed for bankruptcy protection because it has debt worth $63.6 million, but assets worth only just half over that. Customers had a total of around 750,000 Bitcoins stored in the Mt Gox equivalent of a bank account, which translates to around $ ... (view more)

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