24 Feb '14, 9pm

Hard to believe a completely unregulated lawless decentralized money exchange could go down

Japan-based Mt.Gox is said to have begun as a "Magic: The Gathering" trading card website, and hasn't picked up in the way of business cachet since then. The exchange—basically a place where you can trade real "fiat" currency for speculative crypto-currency—was for years the largest of its kind, moving millions of dollars around the world, anonymously. Trouble began for Mt.Gox when the feds started noticing its financial paperwork was a mess, and it was acting as a middleman for the internet drug trade . Bitcoin prices on the exchange plunged accordingly. That was only the start of the bad news.

Full article: http://valleywag.gawker.com/if-you-have-bitcoin-in-mt-gox...

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