PlayIconNav
BTC
$99,089.17+1.45%
ETH
$3,390.65+8.55%
SOL
$262.38+8.89%
BNB
$633.37+3.73%
XRP
$1.39+25.08%
DOGE
$0.39633336+2.91%
CD20
$3,254.54+7.91%
ADA
$0.88319006+12.90%
TRX
$0.20018303+1.63%
AVAX
$36.35+7.24%
SHIB
$0.00002500+3.66%
WBTC
$98,640.02+1.47%
Ad
Markets
Election 2024

Mt. Gox Confirms Discovery of 200,000 BTC in 'Old-Format' Wallet

Mt. Gox has confirmed it has found a bitcoin wallet containing 200,000 BTC.

By Pete Rizzo
AccessTimeIconMar 21, 2014 at 1:49 p.m. UTC
Updated Sep 3, 2021 at 10:58 a.m. UTC
Presented By Icon

Election 2024 coverage presented by

Stand with crypto
shutterstock_173018765

Embattled Japan-based bitcoin exchange Mt. Gox has released a new press release confirming that it found an old-format bitcoin wallet on 7th March containing 199,999.99 BTC ($113.9m at press time).

Mt. Gox further confirmed it reported the finding to its bankruptcy counsels as required by its civil rehabilitation proceedings.

VolumeMuteUnmute

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0

    • The release states:

    "A hearing took place on March 8 where a detailed explanation of the situation was made to counsels. Immediately on Monday (March 10), counsels reported the existence of the 200,000 BTC to the Court and the Supervisor."

    The exchange revealed it now has a total amount of 202,000 BTC, a figure which includes the 200,000 BTC recently found, as well as an additional 2,000 BTC ($1.1m) in funds.

    Mt. Gox confirms money movement

    The release, penned by CEO Mark Karpeles, indicated that the wallets were moved from online wallets to offline storage from 14th March to 15th March. Further, he confirmed that the courts were aware of this activity.

    "These bitcoin movements (including the change in the manner in which these bitcoins were stored) has been reported to the Court and the Supervisor by counsels."

    The confirmation would suggest reports that Mt. Gox funds have been moving through the blockchain were valid, though the dates of the movement do not coincide.

    Missing bitcoin figures revised

    Mt. Gox indicated that with the finding, the amount of bitcoins it reported as lost or stolen needs to be revised, suggesting that this wallet, and the funds therein, were factored into the original estimate.

    Said the statement:

    "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."

    Image credit: Old wallet via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

    Read more about
    Mt GoxExchangesNews