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More Bad News From Mt.Gox: All Your Bitcoin Money Is Gone

The Mt.Gox saga just gets sadder and sadder. Not only did the company file for bankruptcy, but Mt.Gox CEO Mike Karpele went on Japanese TV a few minutes ago and admitted that everybody's money is gone. Gone, gone, gone.


How much money? According to one translation of the press conference: "The 750,000 bitcoins we kept for users, (37,000 million yen), almost all gone." That's over $424 million worth of 'coin. At least Karpele apologized.

Welp, add it to the list, I guess.


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All your money is gone but he is looking for backers so he can resume business in some form. He may want to start looking for a job or an escape route.

Note to self, don't store your digital currency with a site that was created to trade cards, Magic The Gathering Online eXchange, Mt. GOX.