MtGox operator looks to sell Bitcoin trademarks: report

May 28, 2014

The holding company of collapsed virtual currency exchange MtGox is looking to sell the trademark to the word Bitcoin, The Wall Street Journal said Wednesday.

The company hopes to raise at least 100 million yen, or about $1 million, for a package including the Bitcoin trademarks in Japan and the European Union, the Journal quoted an executive of the company as saying.

It is also looking for a buyer for the domain name bitcoins.com, the paper said, adding it was unclear whether any money from the sale would be used to pay back the creditors of MtGox.

The executive said the company wanted to sell the trademarks because it had no use for them, the Journal said, without naming the company official.

Tibanne, a company headed by former MtGox chief Mark Karpeles, had its registration of the Bitcoin trademark approved in Japan in 2012, an AFP search of the online database of the patent authority ahowed.

Tibanne was effectively the operator of the troubled Bitcoin exchange since MtGox had no staff, the Journal said. The two companies shared the same office address in Tokyo.

MtGox filed for bankruptcy protection in late February, saying it had debts of 6.5 billion yen and that it had lost 850,000 units of the crypto-currency. It later said it had found about 200,000 of them.

The is to be liquidated after a Japanese court ordered bankruptcy proceedings in April.

The spectacular failure of MtGox hammered the 's reputation.

The online exchange went dark in February, shortly after it blocked Bitcoin withdrawals, claiming there was a bug in the software that underpins the , making it vulnerable to thieves.

Explore further: MtGox says co-operating with Tokyo police

add to favorites email to friend print save as pdf

Related Stories

MtGox says co-operating with Tokyo police

Mar 26, 2014

Failed Bitcoin exchange MtGox said Wednesday it has submitted "electronic records" and other documents to the Tokyo police after it collapsed in February admitting losing half a billion dollars' worth of the digital currency.

MtGox opens call centre after $500m Bitcoin loss

Mar 03, 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.

Recommended for you

Why the Sony hack isn't big news in Japan

17 hours ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

22 hours ago

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

23 hours ago

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

Dec 19, 2014

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

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.