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"We first express our most sincere regrets and apologies for this situation and for causing so much inconvenience to all our users..."
"we have asked an expert to look at the possibility of a criminal complaint and undertake proper procedures."
So no independent technical investigation of what happened.
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[Translation from the Japanese]
February 28, 2014
To anyone concerned
Mark Karpeles
Representative Director
MtGox Co., Ltd.
Shibuya 2-11-5
Shibuya-ku, Tokyo
ANNOUNCEMENT REGARDING AN APPLICATION FOR COMMENCEMENT OF A PROCEDURE OF CIVIL REHABILITATION
MtGox Co., Ltd. made today an application for commencement of a procedure of civil rehabilitation (minji saisei) at the Tokyo District Court. This application was accepted on the same day. Further, MtGox Co., Ltd is under several orders issued by the Court : a preservative order prohibiting it from paying its debts, transferring its assets or establishing security over its assets, an order establishing a comprehensive prohibition of forced attachment of its assets by its creditors and a supervisory order ordering supervision by a supervisory committee. In consequence, MtGox hereby informs you as follows.
We first express our most sincere regrets and apologies for this situation and for causing so much inconvenience to all our users and other interested parties. We will fully respect the above orders and maintain our assets with all the necessary care.
Financial situation, reasons and timeline leading to this application
(1) As of now, the liabilities of MtGox Co., Ltd exceed its assets and its financial situation is as follows:
Total amount of assets 3,841,866,163
Total amount of current liabilities 6,501,119,371
(2) The increase of current liabilities may be linked to a loss of bitcoins and customer funds. These are now investigated by an expert and all efforts are made to discover the truth. This application was prompted by the following troubles:
At the start of February 2014, illegal access through the abuse of a bug in the bitcoin system resulted in an increase in incomplete bitcoin transfer transactions and we discovered that there was a possibility that bitcoins had been illicitly moved through the abuse of this bug.
As a result of our internal investigation, we found that a large amount of bitcoins had disappeared. Although the complete extent is not yet known, we found that approximately 750,000 bitcoins deposited by users and approximately 100,000 bitcoins belonging to us had disappeared.
We believe that there is a high probability that these bitcoins were stolen as a result of an abuse of this bug and we have asked an expert to look at the possibility of a criminal complaint and undertake proper procedures.
On the same day (24th), we found out large discrepancies between the amount of cash held in financial institutions and the amount deposited from our users. The amounts are still under investigation and may vary but they approximate JPY 2.8 billion.
We are investigating the causes of these problems. Since there are probably a variety of causes including hacking by third parties, we need to investigate a huge amount of transaction reports in order to establish the truth. As of this date, we cannot confirm the exact amount of missing deposit funds and the total amount of bitcoins which disappeared.
Once we discovered that bitcoins had disappeared and the discrepancies between cash funds and deposit balances, we judged that it would be difficult to continue our activities normally and we therefore closed our site at noon on the 25th (Japan time).
(3) Regarding the filing of a complaint or damages report, an expert has been mandated and investigations have started. We will make all efforts to ensure that crimes are punished and damages recovered.
Further we will fully cooperate with inquiries from authorities and investigations related to this matter, in Japan or overseas.
In order to increase repayments to our creditors, it is necessary to explore the possibility of having MtGox Co., Ltd. continue its business. This is why the civil rehabilitation procedure has been chosen, Rebuilding MtGox Co., Ltd under the supervision of the court in a legally organized procedure while giving proper explanations will not be for the sole benefit of the company but for that of the whole bitcoin community.
All efforts will now be made to restore the business and recover damages to repay debts to creditors. We hope for the understanding and cooperation of all.
Outline of the application
(1) Application date February 28, 2014
(2) Jurisdiction Tokyo District Court
(3) Counsel of applicant
Baker & McKenzie (Gaikokuho Joint Enterprise)
Attorney-at-law Junko Suetomi
Attorney-at-law Yamamoto Hideyuki
Yodoyabashi & Yamagami Legal Professional Corporation
Attorney-at-law Akio Shinomiya
Attorney-at-law Kazumasa Kawai
(4) Supervisor Nagashima Ohno & Tsunematsu
Attorney-at-law Nobuaki Kobayashi
(5) Investigator idem
(6) Case no. 2014 (sai) 12Civil rehabilitation commencement application
Contact information
A call center has been established to respond to all inquiries. The call center is planned to start on March 3, 2014. All inquiries to MtGox Co., Ltd. should be made to the following telephone number:
Telephone number +81 3-4588-3921
Working hours Monday to Friday 10am to 5pm (Japan time)
Please refrain from contacting the office of the supervisor/investigator.
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MTGox: the movie, is going to be a Buster Keaton styled comedy.
120 min doing stupid mistakes and trying to fix them, the end.
It will be the only movie making people laugh and cry without actually watching it. |
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I got five minutes of elevator music and then I bailed out. Didn't want to wait on hold for a half an hour to perhaps get someone who only speaks Japanese— I figure I'll try again once someone reports how it goes, potentially bringing in a translator if required.
Check out Reddit. Someone there got through. Apparently, on the other end, there was only a Japanese woman who didn't speak English, and the caller got no info. He sat through half an hour of muzak first ... Poor lady probably had no idea of what's due by 10 o'clock. I thought they were going to throw that "we apologize, we're trying to solve..." crap again. How come I always under estimate Mark? |
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He is currently busy watching himself getting nominated on Oscar.
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Perhaps we pool together then conference them in.
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They're providing the phone support with an endless play of chill music. Hope that comforts.
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What are the addresses?
They involve numbers and letters which create a location. open ended question leaves opportunity for open ended answers like that. Oh, I'm sorry. Dear Mark, Have you identified the wallet addresses where the bitcoins were lost or stolen? If so would you please share them with us? Hope this makes a difference. |
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- We have identified Bitcoin's bug is causing withdrawal problems
- We will take the lead to fix this, withdrawal will resume once fix is tested
- It's imperative that we don't tell you where the coins are, or the public will be hurt
- Coins are not stolen yet, just temporarily unavailable
- I honestly don't know where the coins are
Given the info he has, it will take 2 hours for the users on this forum to answer the question he seemingly not able to.
I have an idea of what's going on, like to know your thoughts first.
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so there is finally proof...the blockchain is corrupted??
may I sell some coin??
Why do you think this is a proof of a blockchain corruption? Because of the double spends? In case you haven't, read the text block on this page: https://blockchain.info/double-spends |
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Your question has been asked 10000 times in 500 different threads here. We don't even know if they were indeed robbed.The CEO of Mt.Gox himself hasn't, up until this day clearly said they were robbed.
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Internal transfers, like most exchanges, occur off-net.
But they still have a txid, shouldn't they appear on the network? Those IDs may look like Bitcoin TxID but they are not. Internal TXs are just account clearing process done in their database. |
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It seems Breel's 7 BTC deposit was used to fund your 100 BTC withdrawal. |
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Hmmm, I've tried to do the same and followed this transaction: https://blockchain.info/address/1NwuCH9szpshHZoKJ6AsCLUYFu39rN2jsjbut I eventually ended up in a tumbler (no proof, bug huge amount of BTC moving every few minutes for a few days in February...). Of course, that might just have been my luck and that was some of the coins stolen from the malleability issue. Your link points to an address not a transaction. Was that an external address or the addresse generated by Gox on their BTC Deposit page? |
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Thanks, will check out the other thread soon. One thing I do want to point out though, the coins that I tracked down are MY coins. The source addresses I posted are NOT guessed ones, they are where I sent them from. |
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Don't need to see his face again, please share with us what did he say.
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"Mt.Gox learned Monday that 1.75 million bitcoins held by the company and its customers had disappeared, according to Teikoku Databank, a Japanese bankruptcy tracking firm." It was lost in transaction. |
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