Mt. Gox Finds 200,000 of the Missing 850,000 Bitcoins
March 21, 2014 2:51 PM
comment(s) - last by
They were in an "old-format wallet"
has managed to locate about 200,000 of the missing Bitcoins it thought were stolen, which are worth about $120 million USD.
Mt. Gox, which is a Bitcoin exchange service, said it lost about 750,000 of its customers' Bitcoins last month as well as 100,000 of its own. This totals to about $450 million USD.
Since that incident, plaintiffs have filed a class-action lawsuit against the company. Mt. Gox filed for bankruptcy after the incident as well.
Mt. Gox and its
CEO Mark Karpeles
are not allowed to move any money outside of the United States and the company needs to provide full accounting of any assets it has left.
report said Mt. Gox found 200,000 of the 850,000 missing Bitcoins -- which it assumed were stolen -- in an "old-format wallet," which is a digital storage file that was searched after the bankruptcy proceedings.
Mt. Gox said it told the bankruptcy court about the coins on March 10, and that it moved them to an offline site from March 14 to March 15.
Bitcoins can be stored online or offline, in "hot" or "cold" wallets respectively. "Hot" wallets are accessed through a computer network while "cold" wallets can be USB sticks or even a piece of paper.
Now, the search is on for the remaining 650,000 Bitcoins.
This article is over a month old, voting and posting comments is disabled
3/22/2014 12:30:15 AM
I would totally be in on starting up DailyCoins, or MickCoins, I could use some quick riches. The very nice series of articles over on Ars even showed how easy it is to do. =)
On the serious side: I'm actually on the fence on whether this is actually a scam or sheer incompetence. I've read through your profile (which was quite thorough, props) and other sources, and my instinct is telling me that he's just a poorly organized, poorly motivated person who has some decent ideas but completely lacks in the ability and perseverance to competently follow through on them.
I would honestly not be surprised if it comes out that someone else in the company set this up, secretly siphoning off coins and using the bad practices and organization in the company to cover it up, leaving Karpeles as the dupe to take the fall.
3/22/2014 10:32:20 AM
I recently "found" some ten year old ten thousand dollars of Monopoly money. I'll totally trade you for some MickCoins!
"My sex life is pretty good" -- Steve Jobs' random musings during the 2010 D8 conference
Bitcoin King's American Accounts Get Frozen
March 13, 2014, 3:00 AM
Bitcoin King: Mt. Gox CEO Mark Karpelès' History of Arrests, Firings
March 5, 2014, 9:05 AM
Monica Lewinsky Speaks Out, Calls Herself "Patient-Zero" for Internet Cyberbullying
October 21, 2014, 2:25 PM
Google Fiber Finally Heading to Austin, Texas in December
October 16, 2014, 11:48 AM
Dropbox Flexes Security Muscle, Appears to Have Squashed Password Breach
October 15, 2014, 12:12 PM
U2’s Bono Apologizes for Forced “Songs of Innocence” Album Downloads
October 15, 2014, 7:55 AM
Google Launches "Same-day Delivery" Subscription Service for $95/year
October 14, 2014, 10:37 AM
Netflix 4K Content to Cost Subscribers Extra $3/Month
October 13, 2014, 8:01 AM
Most Popular Articles
Update: Motorola Droid Turbo Coming Oct 28, 48-hour Battery Life Confirmed
October 19, 2014, 9:19 PM
Google Announces Android 5.0 “Lollipop”, Nexus 9 Tablet, and Nexus 6 “Phablet”
October 15, 2014, 12:41 PM
Cool Science Video of the Day: Carnivorous Leech Eats Giant Jungle Worm
October 16, 2014, 6:44 PM
HBO, CBS Lead Charge to Ditch Cable
October 16, 2014, 4:40 PM
PS4 "Masamune" Update 2.0 Will Bring New Music and Customization Features
October 17, 2014, 1:05 PM
Latest Blog Posts
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information