Could These Be The “Stolen” Mt. Gox Bitcoins?


After Mt. Gox filed for bankruptcy a couple of days ago, it seems those missing Bitcoins might finally have been located.

Around $480 million worth of Bitcoins were “stolen” from Mt. Gox according to a bankruptcy claims filed by the company in a Japanese court. The stolen Bitcoins, which can be traced as cited above, are still at large and no trace has been found so far.

Until now.

Using two main Bitcoin wallets as a basis, Reddit user aquentin posted his method of studying these two addresses and uncovered a strange series of transactions.

It seems that someone – perhaps the thief or someone else – used these accounts to transfer large amounts of Bitcoins to other accounts in smaller chunks and then finally moved them all to one central account.

Sarah Meiklejohn, a computer scientist, told the Washington Post,

[To identify the thief], you’d try to apply the tracking techniques we developed. If the thief was not very smart, they might have just withdrawn to a different exchange. You could try to subpoena that exchange and figure out who they were. If they used other techniques, you might be able to track them

Back in Februruay, Mt. Gox announced a shut down of transactions and services through a notice.


After its subsequent fall, Bitcoin enthusiasts have been discussing whether this was an actual “heist” or did the owners of Mt. Gox steal these coins themselves. The discussion on Reddit is rather interesting. Follow it here


The Mt. Gox website has a new notice up right now.  Scroll down on the page to view the English translation.

All efforts will now be made to restore the business and recover damages to repay debts to creditors.

Leave a Reply

Your email address will not be published. Required fields are marked *