Mt.Gox Unable to Make a Surprise out of the Recovery of 200 000 BTC

Published at: March 23, 2014

While the overall thrill on Mt.Gox case has ceased, the Japan-based service succeeds to provide rather interesting news on regular basics. The only problem is that facts dug out by hackers and enthusiasts, claims of lawyers and traces of truth spoken out by Mark Karpeles are not matching and provide a vague image even for the most dedicated followers of the case. Now it seems that at least some of the lost money has been surprisingly found, but it will not satisfy the deceived users of the exchanger.

How much are 200 000 BTC Worth?

 

The news on the recovery of the mentioned sum has appeared as a humble press release populated via the Yahoo service only in Japanese. The PDF open to download is also in English. The first citation of the document says:

“MtGox Co., Ltd. had certain old-format wallets which were used in the past and which, MtGox thought, no longer held any bitcoins. Following the application for commencement of a civil rehabilitation proceeding, these wallets were rescanned and their balance researched. On March 7, 2014, MtGox Co., Ltd. confirmed that an old-format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC (199,999.99 BTC).”  

The further actions are also listed:

“MtGox Co., Ltd. investigated the presence of these 200,000 BTC, immediately reported it to its counsels in the application for commencement of a civil rehabilitation proceedings (“counsels”). 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.”

Is not it lovely to be unconscious of an extraordinary sum of money? In the context of previous faults and failures it seems just natural for Mt.Gox and its owner Mark Karpeles.

Manqué Surprise

It is a pity that the exchange service could not be able to provide a delightful surprise to the users and hackers. Actually, they have already known the fact and were able to trace the whole process of the miracle “recovery”. 

Around two weeks ago the movement of 180 000 Bitcoin has been noticed on the Blockchain and reported on Reddit. The data of the transaction are still available for viewing. It was not very complicated to find proof and links between the sum and the service. The results of this investigation are also posted on Reddit.

Some hobby detectives have gone even further and state that even more coins from the missed 850 000 BTC has been recovered and are in the hands of the board of the service. These speculations can be found on Reddit as well.

While the Mt.Gox homepage was reopened for users to log in and observe their personal data and balance, the web is filled with chatlogs that possibly have occurred between some enthusiasts and Mark Karpeles. Still, the proof of its authenticity is missing.

 

Tags
Bitcoin
Mark Karpeles
Mt. Gox
Related Posts
Karpeles Says Mt Gox Verdict May Set ‘Dangerous’ Precedent
A day after a Tokyo court upheld charges against him, Mark Karpeles, the former owner and CEO of the now-defunct exchange Mt. Gox, spoke to Cointelegraph regarding the verdict. On June 11, Tokyo District Court Judge Mariko Goto struck down Karpeles' appeal to a previous charge of tampering with financial data. Karpeles was first convicted in March 2019 and received a two-and-a-half year jail sentence. He began the appeals process that same month. The former CEO will have to serve time should he commit another offense within four years. Speaking to Cointelegraph, Karpeles said he hadn’t decided whether to appeal …
Bitcoin / June 12, 2020
Former Mt. Gox CEO Mark Karpeles Rejects Brock Pierce’s Plans to Reboot Exchange
Mark Karpeles — the former CEO of the now-defunct Bitcoin (BTC) exchange Mt. Gox — has refuted controversial crypto figure Brock Pierce's claims he can reboot the trading platform and accelerate compensation for Mr. Gox’s creditors. Karpeles made his remarks in private correspondence with Cointelegraph Japan on Feb. 12. As reported, Pierce — a crypto entrepreneur who co-founded Blockchain Capital, Block.one and EOS Alliance — is attempting to galvanize a “GoxRising” movement, purporting that creditor recovery would be speedier if certain legal and technical barriers were to be overcome. The plan also includes creating a united, tokenized foundation for creditors. …
Bitcoin / Feb. 12, 2019
The Mt. Gox Redemption: Heading Toward a Happy Ending?
The story of the infamous cryptocurrency exchange Mt. Gox seems to be taking a twist that could bring a relatively happy resolution to one of the most dramatic episodes in the short history of digital money. As the gates are now open for the Japan-based exchange’s creditors to file rehabilitation claims, chances are that most of the roughly 24,000 bereft patrons will eventually get their funds back and even see some returns on their involuntary, four-year long investment. The development came along thanks to a group of Mt. Gox creditors successfully mounting an effort to pull the exchange out of …
Bitcoin / Aug. 28, 2018
Mt.Gox Collaborates With Police In Hopes Of Finding Coins
Mt.Gox has presented the necessary documentation to Tokyo’s police to help with the investigation of the colossal Bitcoin loss on behalf of the exchange. Mt.Gox has already recovered almost 200,000 Bitcoins from a forgotten wallet. But how much more is out there? Walking through a mine field Here is what the famous (or infamous) Mark Karpeles had to say: “Following its application for commencement of civil rehabilitation, MtGox Co., Ltd. consulted with the metropolitan police department with regard to the disappearance of bitcoins which is one of the causes for said application. MtGox Co., Ltd. hereby announces that it has …
Bitcoin / March 27, 2014
Mt. Gox wallet transfers 6,800 BTC as ex-CEO plans to redistribute $6B
A cold wallet belonging to the infamous Bitcoin (BTC) exchange Mt. Gox transferred 6,800 BTC to an unknown wallet just days after the former CEO Mark Karpeles revealed plans to redistribute BTC worth $6 billion to its creditors. Mt. Gox was a Tokyo-based Bitcoin exchange that shut down in Feb. 2014 after a hack that compromised 850,000 BTC. In a recent interview, Karpeles disclosed that the exchange had roughly 200,000 BTC in possession during the company’s closure, out of which the trustee sold roughly 50,000 BTC for $600 million in the past. According to Karpeles, the remaining 150,000 BTC currently …
Bitcoin / April 2, 2022