U.S. and Canadian customers of failed Tokyo-based bitcoin exchange Mt. Gox have agreed to settle their proposed class-action lawsuits that alleged the company defrauded them of hundreds of millions of dollars.
The class-action plaintiffs agreed to support a plan by Sunlot Holdings to buy the shuttered exchange and accept their share of bitcoins still held by Mt. Gox, according to a statement and court filings.
Mt. Gox filed for bankruptcy in Japan and the United States earlier this year after saying it lost some 850,000 bitcoins — worth more than $400 million — in a hacking attack. It subsequently said it found 200,000 of the bitcoins.