Tokyo court approves liquidation of Mt. Gox

The Tokyo District Court has approved the liquidation of defunct bitcoin exchange Mt. Gox. Plans to rehabilitate the company faced too many challenges to work, leading to the liquidation, Takashi Mochizuki writes. The 850,000 missing bitcoins valued at half a billion dollars will be tracked down "to the extent possible through its asset administration," said court-appointed trustee Nobuaki Kobayashi.

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