Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said today, Reuters reported. CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm, the provisional administrator, according to lawyer Nobuaki Kobayashi. Mt. Gox filed for bankruptcy protection from creditors in Japan in late February, saying that it may have lost some 850,000 bitcoins — worth around $454 million at today's rates — due to hacking into its computer system. It later said it had found 200,000 of those bitcoins. In today’s order for provisional administration, the court put the company's assets under Kobayashi's control until bankruptcy proceedings officially commence and a bankruptcy trustee is named.
