Wednesday, Nov 26, 2014Wednesday, Nov 26, 2014
News
 

Mt Gox says it found 200,000 bitcoins in 'forgotten' wallet

Published on Mar 21, 2014 11:57 AM
 
Mt Gox said on Friday it found 200,000 forgotten bitcoins on March 7, a week after the Tokyo-based digital currency exchange filed for bankruptcy protection. -- FILE PHOTO: REUTERS

TOKYO (Reuters) - Mt Gox said on Friday it found 200,000 "forgotten" bitcoins on March 7, a week after the Tokyo-based digital currency exchange filed for bankruptcy protection, saying it lost nearly all the 850,000 bitcoins it held, worth some US$500 million (S$638.6 million) at today's prices.

Mt Gox made the announcement on its website. Online sleuths had noticed around 200,000 bitcoins moving through the crypto-currency exchange after the bankruptcy filing.

The exchange, headed by 28-year-old Frenchman Mark Karpeles, said the bitcoins were found in an old-format online wallet which it had thought no longer held any bitcoins, but which it checked again after its bankruptcy filing.

"On March 7, 2014, MtGox Co, Ltd. confirmed that an old format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC," the statement said. It added that it moved the 200,000 bitcoins from online to offline wallets on March 14-15 "for security reasons".

 
If you are not a subscriber, you can get instant, unlimited access here