Image by AntanaCoins | Wikimedia

Image by AntanaCoins | Wikimedia

Mt. Gox, a Bitcoin exchange service in Tokyo, Japan, announced Friday, March 21, that it discovered 200,000Bbitcoins in a “forgotten” wallet, a week after the company filed for bankruptcy.

Bankruptcy

On February 28, Mt. Gox, the world’s biggest Bitcoin exchange service, filed for bankruptcy protection. The Tokyo-based company said it lost about 850,000 Bitcoins, worth around $500 million at current rates. Mt. Gox CEO Mark Karpeles puts the blame on a “weakness in [their] system.”

Lost Coins

On March 7, a week after filing for bankruptcy, Mt. Gox found 200,000 “forgotten” Bitcoins. The largest Bitcoin service made the announcement on their website. According to Karpeles, they found the coins in an old-format online wallet that they no longer use to hold bitcoins. The company checked the wallet again after they filed for bankruptcy.

“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,” according to the statement.