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Mt. Gox Says it Has Found 200,000 Bitcoins

These are worth about $114 Million

Mar 21 2014, 4:50pm CDT | by

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Mt. Gox Says it Has Found 200,000 Bitcoins
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Mt. Gox Says it Has Found 200,000 Bitcoins

Mt. Gox, the Tokyo-based Bitcoin exchange that collapsed and filed for bankruptcy last month, said it had found 200,000 Bitcoins that were held in an “old-format wallet,” or digital storage file reports The New York Times .

Mt. Gox’s former chief executive, Mark Karpeles, issued a statement in Japanese and English on the company’s website saying that after it filed for bankruptcy, it began researching these wallets that were used before June 2011. That is when the company discovered the 200,000 Bitcoins, which represent about 24 percent of the coins that went missing when the site failed.

Last month, Mt. Gox said it had lost 750,000 of its customers’ Bitcoin holdings and more than 100,000 of its own coins, or more than $450 million worth. Based on today’s rates, the found coins are worth about $114 million.

Since then, plaintiffs have filed a class-action lawsuit, seeking a temporary injunction to keep Mr. Karpeles or his company from moving any money outside of the United States. They also want a full accounting of any assets Mt. Gox has left. Mt. Gox said it reported the discovery of the coins to the bankruptcy court on March 10, and that it moved them to an offline site from March 14 to March 15.

The latest announcement is likely to add to the questions about Mt. Gox’s collapse. Even the company said that it was still uncertain about what led up to its failure.

 

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<a href="/latest_stories/all/all/4" rel="author">Susan McGlaun</a>
Susan is the editor of the shopping guide on I4U News. She is finding for our readers the best deals and the most interesting products to buy. She lives for finding a great deal that can save our readers serious money. For every season Susan is reporting about the best gift ideas including Back-to-School and of course the Holidays.
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