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MtGox Moves Couch Cushions and Finds 200K Bitcoins

posted by LaminatorX on Friday March 21 2014, @09:28AM   Printer-friendly
from the we-promise-we-won't-have-BTC-news-every-day dept.

juggs writes:

"In yet another (un)surprising twist in the ongoing MtGox bitcoin exchange collapse saga, the BBC reports that MtGox has managed to find 200,000 Bitcoins tucked away in a wallet that had been lying unused and assumed empty since 2011.

From the brief FA:

The firm said it found the bitcoins worth around $116m USD (£70m GBP) in an old digital wallet from 2011. That brings the total number of bitcoins the firm lost down to 650,000 from 850,000.

This revelation, as court disclosure hearings are currently in progress, seems to be conveniently timed. Perhaps Mark Karpeles (CEO MtGox) and his legal team think this is a good move, maybe to cast an illusion of incompetence rather than malice in the run up to the no doubt long running court battles ahead in many jurisdictions.

Can even the most incompetent CEO lose track of $116m USD of assets for 3 years or so (~23.529% of the originally claimed lost assets)? I suppose the courts will decide ultimately.

In other Bitcoin related news, Bitcoin Core 0.9.0 was released 19th March 2014: Bitcoin v0.9.0 release

This update apparently closes many transaction malleability loopholes that MtGox alleges are how it was denuded of its assets. Not that it would have helped MtGox in any way, they apparently chose to not update their implementation despite the malleability issues already being publicly aired and functional workarounds being publicized within the Bitcoin community.

 
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  • (Score: 3, Funny) by Boxzy on Friday March 21 2014, @11:49AM

    by Boxzy (742) on Friday March 21 2014, @11:49AM (#19350)

    Repeat after me: Magic The Gathering Online Exchange.

    Now say it to yourself ten times and see if it starts to sound more, or less competent.

    Magic The Gathering Online Exchange.

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  • (Score: 3, Insightful) by quitte on Friday March 21 2014, @03:03PM

    by quitte (306) on Friday March 21 2014, @03:03PM (#19428)

    Interesting game. Let me try it, too. Acorn Risc Machine. Acorn Risc Machine. Acorn Risc Machine.

    Okay you win. But where to draw the line? After all the pokemon step counter is one of the best step counters.