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One Year Later, We're No Closer To Finding MtGox's Missing Millions

itwbennett writes: When Mt. Gox collapsed on Feb. 28, 2014, with liabilities of some ¥6.5 billion ($63.6 million), it said it was unable to account for some 850,000 bitcoins. Some 200,000 of them turned up in an old-format bitcoin wallet last March, bringing the tally of missing bitcoins to 650,000 (now worth about $180 million). In January, Japan's Yomiuri Shimbun newspaper, citing sources close to a Tokyo police probe of the MtGox collapse, reported that only 7,000 of the coins appear to have been taken by hackers, with the remainder stolen through a series of fraudulent transactions. But there's still no explanation of what happened to them, and no clear record of what happened on the exchange.

1 of 178 comments (clear)

  1. Re:"Real" money by Anonymous Coward · · Score: 1, Informative

    Mt Gox is an exchange, and exchanges exchange "real" money for bitcoins, correct? So say I paid $2,000 for bitcoins at Mt Gox, and I left those coins there instead of transferring to my own wallet. Thus if those particular coins went missing, I would have been out exactly the $2,000 I paid for them. Now on the other hand, say I mined bitcoins and transferred to Mt Gox for them to be sold, and those coins went missing. They never had any "real" value attached to them - only whatever resources I claimed to have consumed in generating them. See the difference?

    I understand what you are thinking, but it's all in your head. There is no difference. Bitcoins are bitcoins, and they have the same value no matter how the current owner obtained them.