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A bitcoin user protests in Tokyo's Shibuya district on Feb. 26, 2014, after bitcoin exchange Mt. Gox suspended operations.
Business trends

Defunct bitcoin operator in Japan could see huge profit

Fuming Mt. Gox creditors demand halt to bankruptcy proceedings

| Japan

TOKYO -- Creditors of defunct bitcoin exchange Mt. Gox, which went under in 2014, have filed a petition with the Tokyo District Court, angry that the surge in the cryptocurrency's value could leave Mt. Gox sitting on a profit of well over 200 billion yen ($1.7 billion).

They are asking the court to halt the company's bankruptcy proceedings and switch to a civil rehabilitation process, which would allow creditors to collect payments in bitcoin, which is far more valuable today than when Mt. Gox collapsed three years ago. 

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