MtGox opens call centre after $500m Bitcoin loss

Mar 03, 2014
Mark Karpeles (2nd R), president of MtGox Bitcoin exchange, speaks during a press conference in Tokyo on February 28, 2014

The MtGox Bitcoin exchange, which last week sought bankruptcy protection in Japan, opened a helpline for anxious customers on Monday after unveiling a massive loss in a possible theft.

The troubled exchange filed for protection with the Tokyo District Court Friday, admitting that it had lost nearly half a billion dollars worth of the .

The call centre will respond to "all inquiries to MtGox", the Tokyo-based firm said on its website. "An overview of the situation should be published here shortly."

A company lawyer said 750,000 Bitcoins belonging to customers had gone missing, along with MtGox's own store of the currency, which she said was around 100,000 units.

That number of Bitcoins would be worth around $477 million, calculated against the price on the Coindesk exchange at 0300 GMT on Monday.

MtGox CEO Mark Karpeles, who had not been seen in public for several days, re-emerged at a news conference on Friday to reveal the extent of the disaster and apologise to clients.

The global virtual currency community was shaken last week by the shuttering of MtGox, which had frozen withdrawals in early February because of what the firm said was a bug in the software underpinning Bitcoin that allowed hackers to pilfer them.

Supporters rallied round, insisting that the Bitcoin itself is sound and the problems lay with MtGox, which they said was badly managed and unable to cope with the burgeoning popularity of the young currency.

In the announcement on its website, which appeared in Japanese and English, MtGox said the telephone number of the call centre is +81-3-4588-3921. It will be open weekdays from 0100 GMT to 0800 GMT.

Explore further: MtGox seeks court protection after $500m Bitcoin loss

add to favorites email to friend print save as pdf

Related Stories

MtGox bitcoin plunges as website disappears

Feb 24, 2014

The website of Tokyo-based bitcoin exchange MtGox went down on Tuesday after the value of the virtual unit sank to about a quarter of that on other platforms and Japanese regulators said they were unable to step in.

Bitcoin value plunges on Japanese exchange

Feb 19, 2014

The value of bitcoin on a Tokyo exchange was less than half that on other platforms Wednesday, two weeks after it suspended withdrawals claiming a bug in the software that underpins the virtual currency.

Head of troubled bitcoin exchange still in Japan

Feb 27, 2014

(AP)—The head of troubled bitcoin exchange Mt. Gox says in a web post that he is still in Japan, and "working very hard" to find a solution to the Tokyo-based organization's problems.

Recommended for you

UN moves to strengthen digital privacy (Update)

Nov 25, 2014

The United Nations on Tuesday adopted a resolution on protecting digital privacy that for the first time urged governments to offer redress to citizens targeted by mass surveillance.

Spotify turns up volume as losses fall

Nov 25, 2014

The world's biggest music streaming service, Spotify, announced Tuesday its revenue grew by 74 percent in 2013 while net losses shrank by one third, in a year of spectacular expansion.

Virtual money and user's identity

Nov 25, 2014

Bitcoin is the new money: minted and exchanged on the Internet. Faster and cheaper than a bank, the service is attracting attention from all over the world. But a big question remains: are the transactions ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.