An online breach has taken place in the records of the Bitcoin owners, pilfering the accounts of Mt Gox owner, Mark Karpeles.  Meanwhile, the Mt Gox Bitcoin Company has filed for bankruptcy, and Bitcoin trading has stopped online. Has Bitcoin been revealed as an exceedingly shaky investment?

Some critics of the company warned investors that the Bitcoin was legally unprotected and that the marketplace might wind up with massive problems dealing with the safety of customer resources. Mt Gox filed bankruptcy after it was learned that $465 million dollars' worth of bit coin had been lost due to a security bug.

Currently, Mt Gox is working with a court in Tokyo to claim bankruptcy from their outstanding debt of $60 million, or 6.5 billion yen.

Bitcoin makes it possible for those entering into transactions or exchanges of services or goods to circumvent financial institutions, which some worry may encourage illicit activity, and has led many government organizations to suggest international regulation on the otherwise unregulated market place.

The team of cyber-hackers that perpetrated the heist on Mark Karpeles apparently sought to do so on the grounds of his mismanagement of the company. They have taken documents from the businesses records and posted them online, showing that the recent loss of approximately 750,000 bit coins was not due to trading but had instead disappeared from circulation entirely.

The theft of this currency is currently being investigated according to MtGox, but there was no reimbursement for customers who had lost some of their holdings on the website. The company has long been known for glitches and the cyber-heist of millions last month may be the straw that breaks the camel,s back for many Bitcoin users.