Bitcoin platform Mt Gox to close

Marion Dakers

THE STRICKEN Bitcoin exchange Mt Gox is to be dismantled after Japanese authorities rejected its plan to revive the business.

Two months after Mt Gox filed for bankruptcy, a Tokyo court turned down its request to start civil rehabilitation, and instead ordered the cryptocurrency company into administration.

Mark Karpeles, the head of the exchange, said the ruling “will create great inconvenience and concerns to our creditors for which we apologise.”