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didn’t provide details.“There was some weakness in

the system, and the bitcoins havedisappeared. I apologize forcausing trouble,” Mr. Karpelèssaid at a packed news conferenceat a Tokyo courthouse after thebankruptcy filing.

The disappearance under-scores the risks of currenciesthat exist only online and aren’tbacked by a central bank. Mt.Gox wasn’t overseen by nationalregulators, so there is no entity

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Mt. Gox, once the dominantexchange for bitcoin trading, onFriday said more than $470 mil-lion of the virtual currency van-ished from its digital coffers,kicking into high gear a searchfor the missing money by victimsand cybersleuths.

Acting alone and in groups,the people stepped up their ef-forts after Mt. Gox filed forbankruptcy protection in Japanand confirmed rumors it had lostalmost 750,000 of its customers’bitcoins, as well as roughly100,000 of its own.

Mt. Gox Chief Executive MarkKarpelès said technical issueshad opened the way for fraudu-lent withdrawals, though he

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n Bitcoin exchange Mt. Goxfiled for bankruptcy protec-tion, saying more than $470million of the virtual currencyvanished from its coffers. A1n Regulators are probinghow Goldman, Citigroup andother banks divide new bondissues among investors. B1n Citigroup said up to $400millionwas stolen from itsMex-ico unit, resulting in a reduc-tion in the bank’s earnings. B1nThe U.S. economy expandedat an annual rate of 2.4% inthe fourth quarter, down froman initial reading of 3.2%. A2n J. Crew’s owners are intalks to sell the clothing re-tailer to Japan’s Fast Retailingfor as much as $5 billion. B1n U.S. stocks ended mostlyhigher, with the S&P 500 clos-ing at a record, but worriesabout Ukraine pared gains. B5nMcKesson’s chief executiveagreed to cut his record-set-ting $159 million pensionbenefit by $45 million. B3n Panama and a consortiumof builders agreed to end a dis-pute over cost overruns inwidening the Panama Canal. B4n Berkshire is expected todisclose a blockbuster 2013 inits annual report Saturday. B2nMattel is buying Canada’sMega Brands, a competitorto Lego, for $366 million. B3

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InsideNOONAN A15

AmericaAnd the

Aggressive Left

Ukraine appeared to losecontrol over Crimea af-

ter gunmen—possibly Russiansoldiers—seized airports androads in the restive territory.Russia drew warnings fromofficials in theWest. A1, A10-11n The Obama administrationsaid consumers who have hadtrouble enrolling in healthinsurance in states runningtheir own exchange couldstill be eligible for tax creditsto help pay for insurance. A6n The Clinton presidentiallibrary released thousandsof pages of material that hadpreviously been withheld. A4n The EPA took the first stepto restrict, if not prohibit, thedevelopment of the proposedPebble Mine in Alaska. A2n Obama administrationproposals to restrict politickingby nonprofits have generateda flood of public comments. A4n Health experts in the U.S.are girding for the arrival ofa mosquito-borne virus thatis sweeping the Caribbean. A3nA beef recall from a Califor-nia slaughterhouse is prompt-ing concern about gaps in theUSDA’s inspection system. A2n Turkish opposition partiesseem to be struggling to dentErdogan’s support in key areasahead of local elections. A11nA pair of recording studiosin the New York area havefound themselves embroiled inTurkey’s corruption scandal.A11n Died: Ralph Bahna, 71, ledCunard Line and Priceline.

Ukraine’s new government ap-peared to lose control over therestive territory of Crimea onFriday after heavily equippedgunmen—possibly Russian sol-diers—surrounded its two mainairports and armed checkpointswere established on key roads.

Officials in the West reacted

with alarm, with German Chan-cellor Angela Merkel, BritishPrime Minister David Cameronand others working the phonesto Moscow. President BarackObama publicly told the Russians“there will be costs for any mili-tary intervention in Ukraine.”

In Kiev, the country’s capital,acting President OleksandrTurchynov went on nationaltelevision to accuse Russia of“blatant aggression” aimed atprovoking a conflict that couldlead to the annexation of Ukrai-nian territory by Moscow.

Top officials in Kiev said themen who had taken over the air-port and the roads—who woreunmarked military uniforms andcarried automatic weapons—ap-peared to be Russian soldiers.

Russia denied its forces wereinvolved, and the Russian for-eign ministry said what washappening in Ukraine was an in-ternal matter. Russian PresidentVladimir Putin told concernedEuropean leaders who called himFriday that he opposes any esca-

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By Paul Sonne inChongar, Ukraine, AlanCullison in Sevastopol,Ukraine, and Lukas I.Alpert in Moscow

Russia Warned Over Crimea UnrestTroops Seize Airports, Roads Amid Fears Moscow Is Intervening in Ukraine; Kremlin Denies Involvement

The winds on San FranciscoBay started kicking up in thelate morning. Before long, theywere blowing more than 20miles an hour.

Jimmy Spithill and his 10teammates put on their crashhelmets and flotation vests andclimbed aboard the AC72, amenacing, 13-story black cata-maran capable of near-highwayspeeds. As a powerboat pulledthem into the bay for Race 5 ofthe 2013 America’s Cup, Mr.Spithill shot a glance at theGolden Gate Bridge. It wasshrouded in fog.

An unfamiliar, uncomfortablefeeling was tugging at him. Mr.Spithill, skipper of Oracle TeamUSA, the richest and possiblymost prohibitively favored teamin the history of the world’smost famous yacht competition,had lost three of the first fourraces. Something was wrongwith the way the Oracle boatwas performing. Now he wasfacing the unthinkable: His teammight lose.

The America’s Cup, first heldin 1851, is believed to award theworld’s oldest internationalsporting trophy. The contestalso is one of the least profes-sionalized. There is no perma-nent organization, commissionor governing body. The winnergets to pick where and when thenext race is held—typically ev-ery three to five years—andwhat type of boat is used. Allthat tends to make the racingrather lopsided. In most cases,the faster of the two boats inthe finals wins every match—and the faster boat is usuallythe defending champion.

The 2013 Cup wasn’t sup-posed to be any different. But acompetition that was expectedto be humdrum turned into oneof the most remarkable ever.This account of how that hap-pened was pieced togetherthrough extensive interviewswith the sailors, engineers andother team leaders.

Largely because of teamowner Larry Ellison, the founderof software giant Oracle Corp.

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BY STU WOO

AGAINST THE WIND

Big Boats, Big Bucks:How Team USAWonThe America’s Cup

WASHINGTON—Until Friday,the American approach toUkraine’s mounting crisis was

designed explicitlyto show the U.S.didn’t view this as

a return of Cold War frictions,but as an opportunity to workwith Moscow to stabilize a for-mer Soviet state.

That changed late in the daywhen President Barack Obama

bluntly warned Russia against in-tervening in Ukraine, a stark indi-cation that old tensions are seep-ing back into the relationship.

“We are now deeply con-cerned about military move-ments taken by the RussianFederation inside of Ukraine,”Mr. Obama said. “Just days af-ter the world came to Sochifor the Olympic Games, itwould invite the condemnationof nations around the world.”

The statement, delivered in a

rare late-afternoon appearanceat the White House press room,was an indication of the mount-ing concern in Washington thatRussian President Vladimir Pu-tin may be prepared to takedrastic steps to keep Ukraine inMoscow’s orbit. It sent a mes-sage that Mr. Putin should beunder no illusions about thedamage such steps would wreak.

The White House had beencautious in its comments onUkraine. Since Ukrainian Presi-

dent Viktor Yanukovych’s over-throw a week ago, the adminis-tration avoided casting therevolution there as a victoryfor the West.

Mr. Obama’s latest state-ments, like those of other topU.S. officials this week, lackedany indication of what the U.S.would do in response to a Rus-sian military incursion. Thewarnings did, however, under-score the limited range of

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BY JAY SOLOMON

Obama’s Options Are Few, Fraught

By Robin Sidel,EleanorWarnock

and Takashi Mochizuki

Almost Half a BillionWorth of Bitcoins Vanish

Soldiers bearing no insignias occupied Crimean airports, including in the capital of Simferopol. Ukrainian officials said they appeared to be Russians.

Forget Oscar,Welcome to the‘Geezers Dinner’

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AARP, Others VieFor Awards SpotlightBefore the Big Show

BY ERICH SCHWARTZELAND BEN FRITZ

LOS ANGELES—Oscar nomi-nee Bruce Dern is already a win-ner in the eyes of the AARP.

The organization for olderpeople named him best actor inits Movies for Grownups awardsearlier this month for his per-formance as an ornery alcoholicin “Nebraska.”

“Welcome to the geezers din-ner,” he said as he accepted theprize.

Mr. Dern, 77 years old, thendrew a standing ovation for anacceptance speech that includeda swipe at nursing homes.

At the Oscars on Sunday night,Mr. Dern will find out whether hisAARP award—a gold-colored stat-uette of a cushy theater seat calledthe Chaise d’Or—will share shelfspace with an Academy Award forbest actor.

David O. Russell this year re-ceived his third Oscar nomina-tion for best director for “Ameri-can Hustle.” But in November, hewon his first Hamilton Behindthe Camera Award, a prize givenat a ceremony in Los Angeles bythe Swiss watch company Hamil-ton International Ltd.

At the Hollywood FilmAwards, the cast of “August: Os-age County” received the Holly-wood Ensemble Cast Award inOctober—more than two monthsbefore the movie opened.

“I didn’t see it,” said directorGarry Marshall as he presentedthe prize. “But we’re giving themearlier and earlier.”

The four-month slog leadingup to the Oscars has long beencrowded with lesser shows suchas the Golden Globes and prizesgiven out by other critics’ groupsand entertainment industry

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Getty

Images

Tension Rises Crimea turns from paradise

to a makeshift border.... A10 Russian opposition leader

under house arrest.......... A10 Putin moves quickly........ A10 Europe urges restraint.... A11

Getty

Images

Oracle Team USA chases Emirates Team New Zealand in Race 8.

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