Virtual currency Bitcoin goes bankrupt, causing public to lose 425 million dollars
Apologizing to the public via a press conference is a sight all Japanese people are used to. Crooked politicians mired in scandal, celebrities, and others are seen bowing their heads in shame frequently for the trouble they've caused the public. After filing for bankruptcy, Mt. Gox CEO went on Japanese TV and apologized for the estimated 425 million dollars unaccounted for in virtual currency.
Mark Karpeles, CEO of Mt.Gox, just held a press conference to apologize for the loss of 750,000 bitcoins owned by members of the public. This is a big blow for bitcoin's reputation, as this online currency was promoted as being safe from counterfeit or theft because of its own special cryptography. No one knows at this point where all the currency has gone. All that's known is that there are a lot of investors who lost a lot of money, and the government really has no way to help them since it doesn't consider bitcoin real currency.
At least he apologized, I guess.