Mt. Gox Bitcoin Exchange Is Filing for Bankruptcy Protection

A lawyer representing Mt. Gox has announced that the bitcoin exchange is filing for bankruptcy protection, and that the company has outstanding debt of around $63.6 million.

The announcement was made at a news conference at the Tokyo District Court, reports the Wall Street Journal. Mt. Gox, which stopped bitcoin withdrawals in early February, stopped all transactions on Tuesday amid reports that 744,000 bitcoins had been stolen. [Wall Street Journal]