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Bitcoin entrepreneurs target Mt Gox lifeline

A group of Bitcoin entrepreneurs hoping to revive the bankrupt exchange Mt Gox has won backing for its controversial plan from a number of its creditors in the US, Canada and Europe.

The consortium, called Sunlot, is hoping that the additional support will raise the pressure on the Japanese bankruptcy authorities to halt the liquidation and transfer Mt Gox’s assets to new owners.

The plan has split the Bitcoin community, which is reeling from the collapse of the first and most prominent exchange for the virtual currency. Mt Gox filed for bankruptcy protection in February and said that 850,000 Bitcoins were unaccounted for. It later revised the number to 650,000 after finding 200,000 Bitcoins in an old digital file.

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