Baker & McKenzie is advising Tokyo-based bitcoin exchange Mt. Gox Co. Ltd. on a bankruptcy filing.
The petition follows the company’s announcement on Friday that hackers had apparently stole 750,000 bitcoins, an Internet-based currency not backed by any bank or government, that had been deposited by users and an additional 100,000 owned by the company itself. The total value of the stolen bitcoins was estimated at $480 million, accounting for 7 percent of all bitcoins traded globally.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
