The Tokyo District Court on Wednesday dismissed a lawsuit by a man seeking repayment for bitcoins he kept in an account at the bankrupt exchange Mt. Gox Co., with the ruling saying the virtual currency is "not subject to ownership" claims.
Last June, the Kyoto resident had 458 bitcoins worth around ¥31 million in an account with Mt. Gox, the Tokyo-based exchange that filed for bankruptcy protection from creditors in February after claiming that tens of millions of dollars worth of the virtual currency and client funds disappeared from its computer system.
Its CEO, Mark Karpeles, was arrested by Tokyo police last week for allegedly inflating his personal account by manipulating virtual currency data.