Mizuho Bank’s Appeal Against Mt Gox Related Lawsuit Dismissed

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Mizuho Bank recently found itself in a legal trouble after its association with defunct Bitcoin exchange Mt. Gox was recognized by a US court. The bank’s name surfaced in the notorious Bitcoin theft case when some of its victims claimed that their withdrawal requests was denied by the Japanese bank.

The Mt. Gox victims, on the grounds of denial of rightful requests by Mizuho, later filed a class action lawsuit against the bank. According to the lawsuit, Mizuho Bank intentionally wreaked Mt. Gox customers’ right to withdraw funds in the time of the notorious hack. It therefore makes the bank equally responsible for aggravating customers’ losses.

In its defense, Mizuho had claimed that the US Court doesn’t have jurisdiction over the case as the exchange in question was based out of Japan, and so is Mizuho Financial Group, the bank’s parent company. The presiding US District Judge Gary Feinerman has rejected the bank’s appeal, allowing the class action lawsuit to proceed.

The bank is also reported to have mentioned that Mt Gox customers can’t be considered as its customers. In response, the Judge in the court order rules that there was a transactional relationship between Mizuho and Mt Gox customers as they were allowed to send

Read more ... source: NewsBTC USA

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