U.S. investors seeking to revive Mt. Gox have launched a last-ditch effort to convince a Japanese bankruptcy court to support their proposal after the failed bitcoin exchange announced it would abandon a rehabilitation plan and instead move to liquidate its assets.

As part of this effort, the investor group has launched a website, savegox.com, to explain its proposal and create a mechanism for Mt. Gox's 127,000 creditors to express their support for it. People familiar with the consortium's efforts say they have already received significant backing from many creditors and hope to use this evidence to convince the Tokyo District Court to reconsider their rehabilitation proposal.

A statement on the website says the consortium, led by bitcoin entrepreneur Brock Pierce and including venture capitalists Matthew Roszak and William Quigley, had been working for several weeks with owner Mark Karpelès before he abandoned that plan this week. "We believe Mark Karpelès changed course in an effort to avoid personal liability, but in doing so has sacrificed your interests," the statement says.

Mr. Karpelès, along with Mt. Gox and its holding company, Tibanne Co., have been cited in a civil suit that the plaintiffs want certified as a class action alleging they are jointly guilty of consumer fraud by failing to comply with pledges to protect customers' bitcoins.

Neither Mr. Karpelès, who is based in Japan, nor his lawyers could be immediately reached for comment for this article.