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Mt. Gox suitors seek support to save bitcoin exchange

Mt. Gox, once the world’s biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company’s bid to resuscitate its business.

By: Reuters | Bangalore |
April 20, 2014 12:53:21 am

A group of investors seeking to buy Mt. Gox has launched a website to garner support from creditors of the bankrupt bitcoin exchange to prevent a liquidation of its assets.

“We need your help to stop a liquidation, which would be good neither for Mt. Gox creditors nor bitcoin’s reputation with the general public and regulators,” the investors wrote on the website.

Mt. Gox, once the world’s biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company’s bid to resuscitate its business, the court appointed administrator said on Wednesday.

The investor group, which offered to take over the assets of Mt. Gox and revive it, has received backing from many creditors and hopes to convince the court to reconsider its rehabilitation proposal, the Wall Street Journal reported on Thursday. Mt. Gox has about 127,000 creditors.

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