Bitcoin exchange Mt. Gox files for bankruptcy

Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system.

Mt. Gox's French CEO Mark Karpeles apologized in Japanese at a news conference at the Tokyo District Court, blaming the collapse of his firm on a "weakness in our system," but predicting the bitcoin market will grow, according to Fox News.

"First of all, I'm very sorry," he said. "The bitcoin industry is healthy and it is growing. It will continue, and reducing the impact is the most important point."

Read more from Fox News.