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MtGox finds 200,000 lost bitcoins worth USD116 million

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Mock Bitcoins (Credit: REUTERS) Mock Bitcoins are displayed on a table in an illustration picture taken in Berlin January 7, 2014.
March 21
10:52 AM 2014

MtGox, the controversial Japanese bankrupt bitcoin firm, said in a filing that it has retrieved 200,000 lost bitcoins. The company said that the bitcoins were found from a 2011 old digital wallet. The lost bitcoins were reported to have a value of USD116 million.

The 200,000 bitcoins found lowered the number of the reported loss from 850,000 to 650,000. In February, MtGox filed bankruptcy after the company said their bitcoins were hacked. MtGox was the world’s biggest bitcoin exchange firm before the bankruptcy.

According to MtGox CEO Mark Karpeles in the filing, "MtGox had certain old-format wallets which were used in the past and which, MtGox thought, no longer held any bitcoins. However, on March 7, 2014, MtGox confirmed that an old-format wallet which was used prior to June 2011 held a balance of approximately 200,000 bitcoins."

Karpeles added that the found bitcoins were moved to offline wallets last March 14 and 15 to prevent from any hacking targets.

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