MtGox announce finding of 200,000 lost BTC!

[AT101ET]

Lawyers for MtGox have announced that they've found 200,000 of the lost BTC!!!
Was it a heist, or just some lost private keys?

Link: http://headlines.yahoo.co.jp/hl?a=20140321-00000038-yom-sci

Official MtGox announcement:

https://www.mtgox.com/img/pdf/20140320-btc-announce.pdf

[ChuckBuck]

Is that cause for the recent price dip, or is it the Blockchain.info issues?

I'm still unclear what caused the decline the last couple of days.

[WhatTheGox]

http://www.reddit.com/r/Bitcoin/comments/1za9sf/found_at_least_150k_btc_of_mt_goxs_stolen_coins/

there is another 150k coins to "find" also,  meaning 350k total so far

[Remember remember the 5th of November]

Looks like someone realized his scam wouldn't work and quickly "coughed up" the private keys.

[Singlebyte]

This is going to make things interesting.  How was it "discovered" and how will they distribute the coins back to the owners?  With their database hacked, how will they be able to allow legit people to login and retrieve their accounts and assure everyone that it's not just hackers logging into the database?  That's assuming the courts allow a percentage distribution to the depositors.  And legal fees will eat up a lot of these coins!  Mtgox just keeps on Goxxing......


Translated version
http://translate.google.com/translate?sl=ja&tl=en&u=http%3A//headlines.yahoo.co.jp/hl%3Fa%3D20140321-00000038-yom-sci

[captainblack]

Wow ! Great news!)) Does it mean that they are going to return it back to the clients?

[ebliever]

I suppose this is more evidence of mind-boggling incompetence at Mt. Gox. Imagine a bank (or any other company) just "losing" a quarter of their assets for a couple years.

Audits are a pain, but they are our friend.

[CurbsideProphet]

I suppose this is more evidence of mind-boggling incompetence at Mt. Gox. Imagine a bank (or any other company) just "losing" a quarter of their assets for a couple years.

Audits are a pain, but they are our friend.

This is exactly why regulation is a good thing.  It's funny how so much of the community wants everything to be completely free and unregulated until something goes wrong, then straight to the cops and the courts!  Can't have it both ways people.

[cedivad]

Get ready for a "refund and release" document that you will have to sign to have that 25% back.
Posted from Bitcointa.lk - #Fpp887iUwI8WA2d2

[FeedbackLoop]

I suppose this is more evidence of mind-boggling incompetence at Mt. Gox. Imagine a bank (or any other company) just "losing" a quarter of their assets for a couple years.

Audits are a pain, but they are our friend.

This is exactly why regulation is a good thing.  It's funny how so much of the community wants everything to be completely free and unregulated until something goes wrong, then straight to the cops and the courts!  Can't have it both ways people.

...or you use exchanges that were not having huge red-flag problems for years!  (Without even going for "proof of holdings" or whatever people are discussing these days on that).

It is unethical to force regulation on all users simply due to the risk takers that chose MtGox.

[ebliever]

I suppose this is more evidence of mind-boggling incompetence at Mt. Gox. Imagine a bank (or any other company) just "losing" a quarter of their assets for a couple years.

Audits are a pain, but they are our friend.

This is exactly why regulation is a good thing.  It's funny how so much of the community wants everything to be completely free and unregulated until something goes wrong, then straight to the cops and the courts!  Can't have it both ways people.

I partly disagree. I just had a miserable week with a TS16949 audit. This is an industry-standard (non-financial) audit that is not required by any government, but is required by private customers. That is how cryptocurrency should be "regulated" - not by government (for the most part), but by us customers/users demanding accountability with the choices we make. Use the businesses that are getting audited and releasing results from 3rd parties, and so on. But don't ask government to dump a load of wasteful and costly regulations on everyone.

[dreamspark]

And its taken them how long to announce this even after the coins were being tracked?

 Although positive in general as much as 200,000BTC isnt in the hands of criminals I wouldn't hold out hope of getting much back...

[Bit_Happy]

This is going to make things interesting.  How was it "discovered" and how will they distribute the coins back to the owners?  With their database hacked, how will they be able to allow legit people to login and retrieve their accounts and assure everyone that it's not just hackers logging into the database?  That's assuming the courts allow a percentage distribution to the depositors.  And legal fees will eat up a lot of these coins!  Mtgox just keeps on Goxxing......


Translated version
http://translate.google.com/translate?sl=ja&tl=en&u=http%3A//headlines.yahoo.co.jp/hl%3Fa%3D20140321-00000038-yom-sci

With their database hacked
Gox stopped using plain-text passwords in the DB a very long time ago.
Anyone with a strong password will still be in control of their account, and the others deserve to learn a harsh lesson.

[franky1]

Lawyers for MtGox have announced that they've found 200,000 of the lost BTC!!!
Was it a heist, or just some lost private keys?

Link: http://headlines.yahoo.co.jp/hl?a=20140321-00000038-yom-sci

can i ask all people who want to post the news. to include the actual source EG the actal recording or document from the lawyers in this case.

instead of a third party news article that says, "thats what he said", as i call that hearsay and chinese whispers in the past hav always started off like this.

so please dont post news articles post the actual source that the news articles talk about.

many thanks

[franky1]

This is exactly why regulation is a good thing.  It's funny how so much of the community wants everything to be completely free and unregulated until something goes wrong, then straight to the cops and the courts!  Can't have it both ways people.

individual freedoms i am fully ok with. but when someone wants to be a business and control peoples funds.. then those businesses need to be accountable

[ebliever]

This is exactly why regulation is a good thing.  It's funny how so much of the community wants everything to be completely free and unregulated until something goes wrong, then straight to the cops and the courts!  Can't have it both ways people.

individual freedoms i am fully ok with. but when someone wants to be a business and control peoples funds.. then those businesses need to be accountable

We already have tens of millions of laws that are variations on "Thou shalt not steal." We don't need any more. We just need government to accept that cryptocurrencies have an objective value (as defined on exchanges, etc.) and that stealing or losing such assets is no different than the loss or theft of other assets in the eyes of the law.

Just my 2 satoshis,
Ebliever

[Loozik]

Looks like someone realized his scam wouldn't work and quickly "coughed up" the private keys.

My thoughts exactly.

Get ready for a "refund and release" document that you will have to sign to have that 25% back.

Karpeles' lawyers forgot to arrange for Karpeles to resign from Gox Poland's board of directors on time (negative legal consequences - although unrealized yet - already occured for Karpeles under Polish Commercial Code which is applicable to all board of directors of companies registered in Poland). Polish Commercial Code originates from very harsh communist laws. President of Board can be jailed for defruading as little as USD 1k.

Even if criminal lawsuits against Karpeles fail in vanilla jurisdictions (Japan and USA), there is no fucking way he can escape multi-year jail service in Poland, even if he farts out those 25%. Trust me Japanese and American prisons are nice when compared to Polish ones.

[Lauda]

Looks like someone realized his scam wouldn't work and quickly "coughed up" the private keys.

This is most likely the case. One doesn't simply lose over $100M and find it again in less than 30 days.

[S4VV4S]

OK, here's a question (or two):

Is he going to return those coins or refund them as fiat?
And at what price? Gox price?

[pbj sammich]

It's just a poor attempt to instill confidence, in what I'm not sure.