The Bitcoin Saga Continues

Mt. Gox Collapse

On Feb. 7, one of the world's largest bitcoin exchanges halted withdrawals of the currency, citing "a bug in the bitcoin software." Tokyo-based Mt. Gox was in trouble; it had apparently misplaced 850,000 bitcoins valued at nearly $475 million. On Feb. 23, CEO Mark Karpeles resigned from the board of the Bitcoin Foundation, on March 9 Mt. Gox filed for bankruptcy protection in the U.S., and on March 12, a U.S. federal judge temporarily froze the assets of Mark Karpeles, former CEO of the exchange (shown). The company also is facing at least one civil suit.

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