Tuesday, March 11, 2014
Bitcoin bankruptcy math in doubt
More on the bitcoin exchange bankruptcy of Mt. Gox. Per www.washingtonpost.com:
When it comes to Bitcoin, it’s hard to know what to believe-or whom.
When Mt. Gox filed for U.S. bankruptcy protection on Sunday, it listed liabilities of about $64 million and assets of $38 million, according to the AP.
But hackers who broke into Mt Gox CEO Mark Karpales’ Reddit account this weekend posted a summary of data they found on Mt. Gox servers showing the company still has 951,116 bitcoins ($30,611,805.67 USD) which they say is evidence the exchange’s owners may have pocketed the missing bitcoins themselves.
Something doesn’t add up.
The Tokyo-based exchange, which once handled 80 percent of the world’s bitcoin trades, went dark after nearly half a billion dollars in bitcoins went missing in a heist that went unnoticed for years.
For more, see http://www.washingtonpost.com/news/morning-mix/wp/2014/03/11/mt-gox-files-for-bankruptcy-and-the-numbers-dont-add-up/