16 Sep '13, 10am

World's Largest Bitcoin Exchange Out $10 Million

World's Largest Bitcoin Exchange Out $10 Million

If you think that keeping the world’s most popular Bitcoin exchange up and running is easy, think again. Mt. Gox, the Japanese-run online trading floor that had $5 million seized by federal agents earlier this year, says that it’s out another $5.3 million, fallout from the company’s legal dispute with its former U.S. partner CoinLab. At the end of February, Mr. Gox chose CoinLab as its North American agent . The idea was that customers in the U.S. and Canada would be able to use CoinLab as a gateway to the Mt. Gox exchange. But the relationship didn’t last long. By April, it had devolved into a messy $75 million lawsuit. According to Mt. Gox, its customers deposited about $12,800,000 into CoinLab bank accounts, and while CoinLab has handed over most of that money, it’s still sitting on $5.3 million. CoinLab’s attorney Edgar Sargent declined to comment on the allegations in...

Full article: http://www.wired.com/wiredenterprise/2013/09/mt-gox/

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