Current Issue
This Month's Print Issue

Follow Fast Company

We’ll come to you.

1 minute read

Fast Feed

Hackers Continue Attacking Bitcoin Exchange Mt. Gox, As It Seeks Bankruptcy Protection In U.S.

The chapter 15 bankruptcy filing would give the cryptocurrency exchange reprieve from a federal class-action lawsuit.

[Image: Flickr user btckeychain]

After filing for bankruptcy in Japan last month, Bitcoin exchange Mt. Gox has done the same in the U.S., seeking bankruptcy protection to temporarily halt a class-action lawsuit that aims to recoup lost funds.

The insolvent exchange went dark at the end of February amid news it lost about 750,000 Bitcoins in a heist that went unnoticed for years. With Bitcoin companies becoming an increasingly popular target for attacks, hackers over the weekend allegedly gained access to Mt. Gox's database, purportedly showing the exchange still had more than 950,000 Bitcoins worth about $590 million. They published this information on Mt. Gox CEO Mark Karpeles's Reddit account, which was also hijacked (the post has since been taken down), and pastebin.

"It’s time that MTGOX got the bitcoin communities wrath instead of Bitcoin Community getting Goxed," wrote the attackers. "This release would have been sooner, but in spirit of responsible disclosure and making sure all of ducks were in a row, it took a few days longer than would have liked to verify the data."