Bitcoin exchange MtGox to commence liquidation process
By Peter Brieger ,AP
April 25, 2014, 12:05 am TWN
TOKYO--Failed Bitcoin exchange MtGox, whose spectacular collapse hammered the digital currency's reputation, is to be liquidated after a Japanese court on Thursday ordered the start of bankruptcy proceedings, said a lawyer appointed to carry out the process.
The ruling by the Tokyo District Court on Thursday all but spells the end for a company that at one time processed around 80 percent of global transactions in the virtual currency.