Was Mt. Gox CEO Lying about Stolen Bitcoins?

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Mt. Gox is Back, But Not with a Bang

ForexMinute.com – Mt Gox has earlier been in the news only for the wrong reasons. First the unfortunate theft owing to poor security measures, then shutdown, followed by bankruptcy, lawsuits and dozen other jaundiced events. But finally good news comes today when Mt. Gox CEO announced that they had recovered 20,000 lost Bitcoins, which is currently worth around $116m.

The coins were recovered from the old-format wallets which were used by the exchange prior to June 2011, said Mark Kerpeles, the CEO of Mt. Gox. The man confirmed the moving of the aforementioned Bitcoins to safe and secure offline wallets.

But the question is, why Mt. Gox realized suddenly that they have a hidden treasure inside their company? Wasn’t it similar to a recent and successful hacking attempt on Mark Karpeles’ blog that revealed Mt. Gox was lying all the way about their loss evaluations?

**relatedarticle**

You can find this report here, in which we have thoroughly explained how an impostor uploaded an encyclopedic data that revealed customers’ account details. Quite contrary to Mark’s claims of losing an extensive amount, the hacker exposed that Mt. Gox had only lost around 100,000 units of Bitcoin.

While Mt. Gox CEO didn’t make any substantial statement after the incident, he simply knocked down his blog. Now after exactly 11-days after the incident, we are informed of an unknown old wallet that had 20,000 Bitcoins in it.

There are still thousands of investors lining up to file multiple lawsuits against Mt. Gox, even though it has won bankruptcy protection in the US and Japan. A troubled mind at this time can simply say the Mt. Gox is hiding more than they can afford. A wise mind can say, “Let’s see where the wind flows as the pressure mounts on Mt. Gox.”

To contact the reporter of the story: Yashu Gola ay yashu@forexminute.com