Japan-based Mt.Gox CEO Mike Karpele—who may or may not be Chris Farley reanimated with the soul of Reddit—just copped to some very bad news: yes, he lost all your money. We still don't know why all the money is gone, or where it went, but a combination of theft and titanic incompetence is likely. The bottom line of anyone who used the Mt.Gox exchange: your account balance is now zero.
By the way, "Mt.Gox" stands for "Magic the Gathering online exchange". Can you think of a better place to entrust one's financial holdings? I thought not.