Mt Gox probed for missing bitcoins
Print Edition
IN the first confirmation of a criminal investigation at Mt Gox, the failed Tokyo-based bitcoin exchange said yesterday that it was working with the police “with regard to the disappearance” of bitcoins worth some US$490 million at current prices.
Mt Gox said in a brief statement on its website that it had submitted records and documents to the Tokyo Metropolitan Police as part of its civil rehabilitation application. A police spokesman declined to comment and said no announcements were planned.
Mt Gox filed for bankruptcy protection in Tokyo on February 28, saying 750,000 bitcoins belonging to its customers and 100,000 of its own bitcoins were stolen by hackers who exploited a security flaw in its software. It also said US$28 million were “missing” from its Japanese bank accounts.
It was not immediately clear if the police investigation was looking into those missing funds. A representative on a helpline for Mt Gox creditors said the exchange had been working with the police as of “two days ago.”
A court-appointed administrator is due to report by tomorrow on a monthlong examination into Mt Gox and determine whether the exchange can be rehabilitated or should be liquidated.
Mt Gox has also filed for bankruptcy protection in the United States after US customers with funds and bitcoins frozen at Mt Gox began a class-action against the exchange, alleging fraud by the company and its CEO Mark Karpeles.
Another class-action suit was filed in Canada on March 16, alleging a lengthy security breach resulted in “the pilfering of millions of dollars’ worth of Mt Gox users’ bitcoins.”
Both lawsuits also named Mizuho Bank for allegedly aiding in a fraud by providing banking services to Mt Gox.
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