Bitcoin Makes First Appearance in a Lawsuit

Theft at a large exchange sparks legal action over the alternative currency

 A recent theft at Bitcoinica, one of the largest Bitcoin exchanges, resulted last week in a debut for the currency in the California court system. Four prominent members of the Bitcoin community, including Jed McCaleb—the original developer of Mt. Gox, the largest Bitcoin exchange and a competitor to Bitcoinica—filed a lawsuit on 6 August  against the company, seeking reimbursement for US $460 457 in lost funds.

While there have been multiple hacking incidents since the cryptocurrency went online in 2009, this is the first time members of the community, have taken legal action.