Mt. Gox consults Japanese police over missing bitcoins

The failed exchange is citing the disappearance of bitcoins in talks with police

Failed Bitcoin exchange Mt. Gox has contacted Japanese police regarding the bitcoins it lost before filing for bankruptcy protection last month.

Tokyo police haven't said whether they're investigating Mt. Gox, but Japan's top government spokesman has said various agencies are gathering information about the exchange.

"Following its application for commencement of civil rehabilitation, Mt. Gox consulted with the metropolitan police department with regard to the disappearance of bitcoins which is one of the causes for said application," the Tokyo-based exchange said in a note on its website this week.

"Mt. Gox hereby announces that it has submitted necessary electronic records and other related documents," it added.

The exchange will cooperate with the authorities and try to "recover from damages," it said.

Some observers have doubted the ability of Tokyo police to unravel the complex movements of bitcoins on the exchange.

Meanwhile, the Tokyo District Court is expected to decide whether Mt. Gox can be rehabilitated or whether it must be liquidated. Mt. Gox also filed for bankruptcy protection in the U.S. this month against the background of a class-action lawsuit in Chicago alleging fraud.

Mt. Gox's lawyers were not immediately available for comment. Phone calls to the exchange's call center met with a busy signal.

Citing a software bug, Mt. Gox said in its bankruptcy application it had lost about 850,000 bitcoins, 750,000 of which belonged to customers and 100,000 of which were its own. The total value was roughly US$474 million, prompting numerous questions about what happened to the digital funds. It also said some $28 million in funds was missing.

Last week, Mt. Gox announced that it had found 200,000 bitcoins of the missing coins in an old-format digital wallet. The bitcoins were worth about $116 million, according to market prices last Friday.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags Internet-based applications and servicesMt. Goxinternet

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Tim Hornyak

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?