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Old 03-04-2014, 12:22 PM  
DVTimes
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MtGox gives bankruptcy details

More details have emerged into what led MtGox, one of the largest Bitcoin exchanges, to file for bankruptcy.

There was a "high probability" that the bitcoins had been stolen through a bug in MtGox's systems, the firm said in a statement.

Investigations to find the culprits are under way, it added.

MtGox filed for bankruptcy in Japan on Friday. Days earlier the site had closed down after losing an estimated 750,000 of its customers' bitcoins.

Much of the statement released on MtGox's website confirmed details contained in a leaked document that surfaced just days before the bankruptcy application.

'Crimes punished'
As well as the 750,000 bitcoins belonging to customers that were lost, the company said it had also lost approximately 100,000 of its own. This amounts to nearly $500m (£300m).

It also said MtGox accounts held with financial institutions currently contained approximately 2.8bn yen (£16.5m) less than the amount MtGox users had deposited.

http://www.bbc.co.uk/news/technology-26420932
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