Mt. Gox must have checked under its virtual couch cushions.
The bankrupt digital currency exchange said it has "found" 200,000 bitcoins worth about $116 million. Mt. Gox said the coins were found in a forgotten digital wallet. A digital wallet is nothing more than a computer file.
"On March 7, 2014, Mt. Gox Co., Ltd. confirmed that an old-format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC," the company said on its website.
Mt. Gox CEO Mark Kapeles said the company notified its lawyers on March 8 that the coins had been discovered. The coins were pulled out of the old wallet and moved to what the company called offline wallets.
The find would make a sizeable dent in the 850,000 coins originally reported lost by Mt. Gox and it would be the first bit of good news for the company in over a month. However, there is no direct indication that the found coins will be a plus to the people who have invested and lost money with Mt. Gox.
Mt. Gox has filed for bankruptcy protection in Japan and Chapter 15 bankruptcy protection in the United States.
In other recent news New York State reacted to Mt. Gox's failure by moving to institute rules and regulations for corporations dealing in digital currency.
"The recent problems at Mt. Gox and other firms further demonstrate the urgent need for stronger oversight of virtual currency exchanges, including robust standards for consumer protection, cyber security, and anti-money laundering compliance. We will continue to proceed swiftly and thoughtfully to provide rules of the road for reputable virtual currency firms seeking to conduct business on-shore in a responsible manner," said NYDFS Chairman Benjamin M. Lawsky.
The order represents the formal introduction of a virtual currency exchanges being governed by a regulatory body in New York. He added that the state will ensure robust consumer, cyber security and anti-money laundering protections in an attempt to forestall a recurrence of the Mt. Gox situation.
Dorian Satoshi Nakamoto once again denied he has anything to do with Bitcoin's development and he has hired a lawyer to deal with the fame he as accrued since being named by Newsweek as the programming genius behind the digital currency.
"I have not been able to find steady work as an engineer or programmer for ten years. I have worked as a laborer, polltaker, and substitute teacher. I discontinued my internet service in 2013 due to severe financial distress. I am trying to recover from prostate surgery in October 2012 and a stroke I suffered in October of 2013. My prospects for gainful employment has been harmed because of Newsweek's article," the release said.
