The world's largest Bitcoin exchange, Mt. Gox, was sued by CoinLab

In February of this year, the world's largest virtual currency exchanger Mt.Gox, based in Japan, entered into an agreement with the American company CoinLab, under which CoinLab Bitsoin becomes the operator of all transactions conducted on Mt.Gox users from the United States and Canada.

Initially stated that CoinLab has partnered with a group of American banks, which could contribute to the output of the virtual currency Bitcoin offline.

But now the partnership seems to have collapsed. CoinLab sued Mt.Gox, accusing the latter of not fulfilling the contractual terms that were reached in November last year. Signed a legal agreement called for the transfer of Bitcoin-North American operations under the management of CoinLab in March. However CoinLab say that this has not happened.


"Mt.Gox continues to serve customers in North America alone. Mt.Gox CoinLab not provide access to client accounts, servers and other data specified in the agreement," - said in CoinLab.

The lawsuit demands that CoinLab Mt.Gox "repair the damage" caused by the fact of breach of contract and payments of $ 50 million.

The very Mt.Gox now faced with a problem: in addition to the hopping rate of Bitcoin, recent technological platform exchanger faced with a series of failures that led to the blocking of trading processes. In addition, a few days ago to the Mt.Gox was a large-scale DDoS-attack, which nearly blocked the day job site.

Related post: http://itnews2day.wordpress.com/2013/05/04/the-virtual-currency-which-creates-gold-rush-amongst-hackers/