MtGox has applied for bankruptcy protection in Japan, telling a Tokyo District Court that it has outstanding debt of about $63.6 million, with assets worth a little more than half that amount.
Speaking at a Tokyo news conference on Friday, The New York Times reported that Mark Karpeles, the French-born CEO of the company, appeared in court uncharacteristically wearing a suit, and “bowed in contrition and apologized in Japanese.”
“I’m truly sorry to have caused inconvenience,” he said.
Leaked: Just before Bitcoin catastrophe, MtGox dreamed of riches
The exchange site also said it would need "influential lobbyists" going forward.
Citing an unnamed company lawyer who also spoke at the press conference, The Wall Street Journal reported that MtGox had lost 750,000 bitcoins (around $412.5 million) belonging to customers, and over 100,000 bitcoins (around $55 million) of its own money......
