Mt.Gox finds over 100 million USD worth of Bitcoins in an unused wallet

Mt.Gox recently shutdown due to a massive amount of bitcoin theft and so closed it’s doors, shutting itself off from it’s customers. It had filed for bankruptcy protection some time ago.

It seems good luck is in the air for Mt.Gox as it reported that it had found those missing bitcoins in an unused ‘old-format’ wallet.

How much exactly? Around 200,000 bitcoins which equates to over 115 million dollars going by the current market value.

However, that is not all of the amount; the 200,000 is only a part of the 850,000 bitcoins that were stolen. Mt.Gox had earlier thought that the wallet was empty. So much for Mt.Gox’s thinking capacity and efficiency. It is likely that Mt.Gox has more such ‘forgotten’ wallets lying around and may recover most of that amount.

The news was reported in a statement in two languages: Japanese and English. You can view it here. The statement was issued by Mark Karpeles, Mt.Gox’s CEO.

“Taking into account the existence of the 200,000 BTC, the total number of bitcoins which have disappeared is therefore estimated to be approximately 650,000 BTC. (Please note that the reasons for their disappearance and the exact number of bitcoins which disappeared is still under investigation and that the above figures may still change depending on the results of the investigation),” said the statement.

The bitcoins were discovered in a wallet that was last used in 2011 on March 7. On the 14th and 15th the wallets were taken offline “for security reasons”.

Since Mt.Gox was shutdown, it’s bitcoins too were closed off from Mt.Gox’s customers. Customers couldn’t access their own money. With this discovery, hopes have arisen again; hopes that customers will get back access to their money; hopes that Mt.Gox will be back up and running soon.


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