MtGox finds $116m worth of lost bitcoins in an old wallet

MtGox, formerly the world’s largest bitcoin exchange, has found around 200,000 bitcoins worth $116m in an old digital wallet.

The troubled exchange, which has filed for bankruptcy after a series of large thefts, had lost up to 850,000 bitcoins. This find brings the total down to 650,000.

“MtGox had certain old-format wallets which were used in the past and which, MtGox thought, no longer held any bitcoins,” said MtGox chief executive Mark Karpeles in the bankruptcy filing, where the find was revealed.

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However, “on March 7, 2014, MtGox confirmed that an old-format wallet which was used prior to June 2011 held a balance of approximately 200,000 bitcoins,” he said.

The total number of bitcoins stolen equates to around 7% of all the bitcoins in existence.

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