USA TODAY: In a statement posted on its website, the foundation said a “tragic violation of the trust of users of Mt.Gox was the result of one company’s actions and does not reflect the resilience or value of bitcoin and the digital currency industry.”
The New York Times reported that a number of leading Bitcoin companies jointly announced that Mt. Gox was planning to file for bankruptcy after months of technological problems and what appeared to have been a major theft. A document circulating widely in the Bitcoin world said the company had lost 744,000 Bitcoins in a theft that had gone unnoticed for years, the Times reported…
On Bitcoin exchanges, the currency’s value has fallen below $500 from about $550 in the past few hours… (more)
EDITOR: 744,000 X 500 = $372,000,000.
