Failed Mt.Gox Exchange Finds 200000 Bitcoins in “forgotten” Wallet.


Failed Mt.Gox Exchange Finds 200000 Bitcoins in “forgotten” Wallet.

Its happened to all of use at least once in our lives, checking the pockets of our jeans or jacket and finding a some long forgotten cash note or two.

It seems that Mt.Gox has also recently checked their forgotten pants and found around 200,000 “forgotten” bitcoins sometime on March 7th, a little over a week after the Tokyo-based digital currency exchange filed for bankruptcy protection with the U.S. This recently found haul would be worth around $120 million with today’s prices.

Misplaced Bitcoins.

During a statement that been released on their website, the company claimed that the coins were discovered in an old formated wallet they believed it had no longer contained any form of currency. With its recent bankruptcy proceedings, Mt.Gox said they had rescanned a bunch of old wallets and made this discovery.

“On March 7th, 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.

Although, this recent move wasn’t as silent as they may have believed and plenty of people online noticed around 200,000 bitcoins moving through the cryptocurrency exchange after the bankruptcy was filed. Mt.Gox had went on to say that they had moved the coins to an offline wallet, citing security reasons.

“These bitcoin movements, including the change in the manner in which these coins were stored, had been reported to the court and the supervisor by counsels,” it said.


Brief History.

Headed by an 28-year-old Frenchman known as Mark Karpeles, the exchanged had filed for bankruptcy protection in the U.S. earlier in the month of March, saying it nearly lost all of the 850,000 bitcoins they held, with over 750,000 bitcoins originally belonging to customers and 100,000 being its own, which are worth over $500 million at today’s prices. The company has pushed all the blames on hackers for their great loss, but in the statement released said the reasons for their disappearance and the exact total number of bitcoins that where lost are still an ongoing investigation.

With this recent shine of this latest discovery, the current total has now been revised to about 650,000 missing bitcoins.



Many of Mt.Gox’s 127,000 creditors, who have feared they had lost their investments, are skeptical about about what the exchange has really done with the bitcoins they had in their possession. The bankruptcy filing has stated that Mt.Gox had over $28 million worth of bitcoins “missing” from its Japanese bank accounts.

A US judge in Chicago who is overseeing a the class action of Mt.Gox, had revised a previous order yesterday, allowing some of the exchange’s bitcoin movements to be tracked.

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