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Friday February 28, 2014

Mt. Gox Sued Over Bitcoin Losses

The first lawsuit, of what will no doubt be many, has been filed against Mt. Gox. The sad part is, I don't think anyone is going to get a dime back, especially since they filed bankruptcy. frown

In a complaint filed on Thursday in U.S. District Court in Chicago, plaintiff Gregory Greene said Mt. Gox and its chief executive, Mark Karpeles, were negligent and committed fraud for having failed to protect the Tokyo-based exchange from theft. Greene said bitcoin prices plummeted after Mt. Gox found the security breach, but said he and other investors in the virtual currency could not cut their losses because the exchange had halted trading. Mt. Gox took down its website on Tuesday.

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