Mt. Gox Unearths $113 Million Worth of Lost Bitcoins
March 24, 2014
Mt. Gox, the embattled Bitcoin exchange, late Thursday posted a note on its Website that it “found” around 200,000 of the 850,000 Bitcoins it lost in February. Based on a price of $565 (according to the Bitcoin Price Index provided by CoinDesk), Mt. Gox has managed to recover more than $113 million of the nearly $500 million that was unaccounted for when the exchange succumbed to mismanagement and technical failure.
Mt. Gox said it found the Bitcoin in “old-format wallets” it had unearthed during the ongoing investigation being conducted as the company goes through “civil rehabilitation” (the Japanese version of bankruptcy). Including the newly found currency, the company said its holdings now total 202,000 Bitcoin and that “the reasons for [the disappearance of the remainder] and the exact number of Bitcoins which disappeared is still under investigation and that the above figures may change depending on the results of the investigation.”