Mt. Gox recovers 200,000 bitcoins from lost wallet

Posted on Friday, Mar 21 2014 @ 12:00 CET by Thomas De Maesschalck
Bankrupt Bitcoin exchange Mt. Gox announced it has recovered 200,000 missing bitcoins after searching through wallets which were using an old storage format. The bitcoins are worth roughly US$116 million, making it quite mysterious how the company could have lost track of it.
Last month, Mt. Gox, announced that it had lost 850,000 bitcoins in a theft. The total value of the lost bitcoins, which also included the company's own 100,000 bitcoins, was estimated to be $473 million. The company revealed the theft and soon after filed for bankruptcy.

Now, as part of Mt. Gox's bankruptcy proceedings, the company claims to have found 200,000 bitcoins in "old format" electronic wallets. These recovered bitcoins are worth $120 million at the current exchange rate. According to the announcement posted by the Japanese exchange on its website, it now holds a total of 202,000 bitcoins out of which 2000 bitcoins were with the company prior to the civil rehabilitation filing.
Source: Neowin

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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