April 10, 2014 / 9:21 PM / 5 years ago

Investor group seeks to buy Mt Gox for 1 bitcoin - WSJ

April 11 (Reuters) - A group of investors is seeking to buy bankrupt bitcoin exchange Mt. Gox, the Wall Street Journal reported citing sources.

The investor group is offering a token payment of one bitcoin, or about $400, to buy the exchange, the Journal said. (r.reuters.com/peq48v)

The group justified the near-zero price citing an “information vacuum” over Mt. Gox’s missing bitcoins that made it hard to place a value on the lost digital currency, the paper added.

Mt. Gox filed for bankruptcy in Japan in February, saying hackers had stolen 750,000 bitcoins belonging to its customers and 100,000 of its own bitcoins after exploiting a security flaw in its software.

The acquisition must be approved by a Japanese bankruptcy court. (Reporting by Supantha Mukherjee in Bangalore; Editing by Simon Jennings)

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