Appears that Mt.Gox was Naked Short BTC

[FrictionlessCoin]

Source

http://techcrunch.com/2014/03/09/mt-gox-hack-allegedly-reveals-bitcoin-balances-customer-account-totals/

Currency: BTC Balance: 951,116.21905382

Total BTC Deposits: 19,065,241.307202
Total BTC Withdrawl: 18,563,466.149383
————————————
BTC Difference: 501,775.157819

Mt.Gox in their books show that there is a 951K BTC in accounts.

However, BTC deposits and withrawals only show a net 501K BTC in accounts.

So, the 450K BTC shortfall that Mt.Gox is claiming that was 'stolen'  did not go out of the BTC Blockchain.

In summary, the 450 BTC that Mt.Gox claims are VIRTUAL BTC.   Likely BTC that Mt.Gox sold to customers (thus inflating their balances) does not exist and never existed.