According to statements filed in U.S. Bankruptcy Court in Dallas earlier this month, when executives at Japan-based Mt Gox, then the world’s largest Bitcoin exchange, discovered that “hundreds of thousands” of Bitcoin’s had “disappeared,” the exchange continued to allow trading in product they no longer held. $473 million bankruptcy Mt. Gox filed for bankruptcy in the U.S. on March 9 after losing $473 million in Bitcoin. The firm also filed for bankruptcy in Japan last month. Nearly 750,000 customer Bitcoins were lost along with 100,000 of Mt Gox’s own Bitcoin stash, according to a Bloomberg report. The total amount of Bitcoin…
Mt Gox Allowed Trading After Exchange Discovered Loss
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.