Mt. Gox Finds 200K Lost Bitcoins

    A man talks on a mobile phone in a shop displaying a bitcoin sign during the opening ceremony of the first bitcoin retail shop in Hong Kong on February 28, 2014. Bitcoin was invented in the wake of the global financial crisis by a mysterious computer guru using the pseudonym Satoshi Nakamoto and unlike other currencies, it does not have the backing of a central bank or government. AFP PHOTO / Philippe Lopez        (Photo credit should read PHILIPPE LOPEZ/AFP/Getty Images)

    Philippe Lopez/AFP/Getty

    Mt. Gox, once the world's biggest exchange of bitcoins, says it has found 200,000 of the virtual currency in a digital "wallet" that was no longer used by the company. That represents about a quarter of the bitcoins that the company had announced were lost when it filed for bankruptcy-court protection in February. "We believed there were no bitcoins left in old wallets, but found 199,999.99 bitcoins on March 7," CEO Mark Karpeles said Thursday. The company still has not said how exactly the bitcoins, valued at roughly $470 million, went missing, but did say it was possibly a technical issue allowing users to make fraudulent withdrawals.

    Read it at The Wall Street Journal