ValleyWAG – Bitcoin Kingpin Admits Everyone’s Money Is Gone – by Sam Biddle

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ValleyWAG

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Japan-based Mt.Gox CEO Mike Karpele—who may or may not be Chris Farley reanimated with the soul of Reddit—just copped to some very bad news: yes, he lost all your money.

We still don’t know why all the money is gone, or where it went, but a combination of theft and titanic incompetence is likely. The bottom line of anyone who used the Mt.Gox exchange: your account balance is now zero.

But at least we know Karpele hasn’t fled the country, yet. AFP reports Mt.Gox is doing more than just bowing with shame: the virtual currency exchange is bankrupt, and is seeking court protection accordingly. Funny, how these people only want anything to do with the government after they’ve fucked themselves over into another dimension. That dimension is filled with dreams of Kickstarter projects backed with internet money, Dorito-crusted sushi, Doge posters, and now lots of shame and backtracking.

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