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Mt Gox CEO Admits Finding 200,000 Bitcoin in Forgotten Wallet

| 21 Mar 2014 14:43
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That's over $115 million, if you're keeping count.

When Mt Gox went under, over 750,000 of its customers' Bitcoin went missing as well as 100,000 of its own Bicoin stash. Except it didn't all vanish forever; Mt Gox CEO Mark Karpales has discovered 200,000 Bitcoin in a forgotten wallet. Bitstamp is valuing at $577 per coin as of time of writing, and at that valuation the Mt Gox find is worth well over $115 million.

Given that, when Karpales filed for US bankruptcy protection, Mt Gox claimed to have $63.9 million in liabilities and $37.7 million in assets, this new find must come as a great relief to Karpales. Karpales claims to have found the stash on March 7th, and reported it to attorneys on March 8th. This discovery puts a new light on claims made by hackers earlier this month that Mt Gox kept back 951,116 Bitcoin. However the March 7th discovery predates the hackers' allegations.

With this 200,000 stash accounted for, that leaves only 650,000 - over $375 million - still missing. Presumably hackers have most of that, but if Mt Gox is so disorganized that 200,000 Bitcoin can just show up, like the cryptocurrency equivalent of Captain Flint's treasure, there's always a chance more coin might be discovered.

Source: CNET

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