The fallout from the recent bankruptcy filing by Bitcoin exchange MtGox has begun. The Bitcoin exchange is now the subject of a class-action lawsuit in the US alleging negligence and fraud on the part of MtGox CEO Mark Karpeles and his staff.

Plaintiff Gregory Greene claimed: "Mt. Gox intentionally and knowingly failed to provide its users with the level of security protection for which they paid."

MtGox claimed that it lost approximately $480m worth of the digital currency which is close to 7% of the total currency in circulation.

"Plaintiff Greene is just one consumer who had Bitcoins and keys stored with Mt.Gox who has lost money as a result of Mt. Gox's conduct," the suit alleges. "Accordingly, Greene brings suit on behalf of himself and all others similarly situated, to seek both monetary and equitable relief for Mt. Gox's deceptive and unlawful conduct."

Greene's own stake in Bitcoin at MtGox is estimated at around $25,000.